Mortgage Refinance Rates in Miami-Dade County, Florida (2026)
For Miami-Dade County homeowners, the refinance question in 2026 is simple: on a $401,000 balance, a move from 7.50% down to 6.25% frees up roughly $335 every month — and equity near Miami-Dade County opens cash-out room too.
How much you could save near Miami-Dade County
The payment comparison below uses a typical $401,000 Miami-Dade County balance at example rates:
| Payment | Per Month |
|---|---|
| Today (~7.50%) | $2,804 |
| Refinanced (~6.25%) | $2,469 |
| What you would save | $335 |
These are example figures for Miami-Dade County; a lender will price your exact rate from your file. Get alerts when rates drop.
Savings by balance in Miami-Dade County
How monthly savings scale with balance near Miami-Dade County:
| Balance | Now (~7.50%) | Refi (~6.25%) | Monthly Saved |
|---|---|---|---|
| $281,000 | $1,965 | $1,730 | $235 |
| $401,000 | $2,804 | $2,469 | $335 |
| $541,000 | $3,783 | $3,331 | $452 |
Miami-Dade County refinance payments at today's rates
How the Miami-Dade County payment on $401,000 changes with the rate you lock:
| Rate | 30-yr P&I | 15-yr P&I |
|---|---|---|
| 5.50% | $2,277 | $3,277 |
| 5.75% | $2,340 | $3,330 |
| 6.00% | $2,404 | $3,384 |
| 6.25% | $2,469 | $3,438 |
| 6.50% | $2,535 | $3,493 |
| 6.75% | $2,601 | $3,548 |
| 7.00% | $2,668 | $3,604 |
A 15-year refinance of $401,000 near Miami-Dade County runs about $3,438/month versus $2,469 on a 30-year — a higher payment near Miami-Dade County but far less total interest over the life of the Miami-Dade County loan.
Tapping Miami-Dade County equity
Sitting on equity? A cash-out refinance in Miami-Dade County can go up to 80% of value — about $71,000 in your pocket on the numbers above — for renovations, debt payoff, or investing.
| Cash-Out Figure | Amount |
|---|---|
| Appraised value (est.) | $590,000 |
| Balance you owe now | $401,000 |
| Max new loan at 80% LTV | $472,000 |
| Cash you could pull out | $71,000 |
In Miami-Dade County, Florida, property taxes average roughly 0.86% of value, so escrow on a $590,000 home adds about $423/month beyond principal and interest. A $401,000 balance sits near 68% loan-to-value, leaving about $189,000 in equity — room for a rate-and-term refinance now and a cash-out later around Miami-Dade County.
When a Miami-Dade County refinance becomes jumbo
Refinances up to $806,500 are conforming in Miami-Dade County for 2026; larger balances become jumbo refinances with stricter equity and reserve rules.
- Miami-Dade County value about $590,000 with a $401,000 balance (~68% LTV).
- Monthly savings near $335; break-even around month 30 on $10,025 of costs.
- Five-year net of about $10,064 and cash-out room near $71,000.
- Conforming limit $806,500; current equity roughly $189,000 near Miami-Dade County.
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Frequently Asked Questions
- What could a refinance save me in Miami-Dade County?
- On a typical $401,000 balance, moving from about 7.50% to 6.25% saves roughly $335/month in principal and interest. Your savings depend on your current rate, balance, and term.
- What is my cash-out limit in Miami-Dade County?
- Conventional cash-out refinances are capped at 80% of appraised value. On an estimated $590,000 Miami-Dade County home with a $401,000 balance, that is about $71,000 in available cash.
- When does a Miami-Dade County refinance turn jumbo?
- The 2026 conforming limit is $806,500 for a one-unit home (the national baseline). Refinances above that are jumbo loans.
- How fast do I break even in Miami-Dade County?
- Divide your closing costs (about $10,025 here) by your monthly savings. In this example you break even near month 30 — refinance only if you will keep the home past that.
- How much equity is in a typical Miami-Dade County-area home?
- On an estimated $590,000 value with a $401,000 balance, that is about $189,000 in equity — roughly 32%. A conventional cash-out requires you to keep 20%.
- Is now a good time to refinance in Miami-Dade County?
- A common rule of thumb: refinance when you can cut your rate by about 0.75 to 1% and stay past your break-even (near month 30 here). On a $401,000 Miami-Dade County balance, that move is worth roughly $335 a month.