The Latin American business community. Miami’s role as the commercial hub of Latin America has produced a massive population of self-employed business owners — import/export companies, logistics firms, retail operations, restaurants, real estate companies, and professional service firms — whose income flows through US bank accounts but whose tax strategy produces net income significantly below their actual earnings capacity.

The foreign national buyer. South Florida attracts significant foreign national real estate investment from Brazil, Colombia, Argentina, Venezuela, Mexico, and Europe. Foreign nationals with US-held liquid assets can qualify for Miami property through asset utilization without any foreign income documentation.

The price-compressed real estate market. Miami’s appreciation has made standard DSCR (1.00+) uncommon — Brickell condos, Coral Gables SFRs, and Coconut Grove properties typically produce DSCR of 0.65–0.85. No-ratio DSCR at 70–75% LTV is the investment program, and bank statement or asset utilization is the primary residence program.

Mbanc is licensed under FL #MLD1287. Florida overlay: $2,000,000 maximum primary residence loan, 85% purchase LTV, 80% refi LTV.

Miami Non-QM Loan — Same-Day Pre-Qualification.

Mbanc NMLS #38232 | FL #MLD1287 | Equal Housing Opportunity Lender

Bank Statement Loans — Miami Self-Employed Borrowers

Miami’s self-employed economy is dense and diverse. Hospitality and restaurant owners, logistics and import/export companies, real estate brokers, healthcare practices, technology entrepreneurs, and retail operators all produce bank statement borrowers.

The Miami deduction gap is large. A Miami restaurant owner generating $1.8M in annual deposits carries substantial deductible expenses: food cost (28–34% of revenue), labor (30–35%), lease payments, equipment depreciation, utilities. Their Schedule C net might show $185,000 on $1.8M in gross revenue. The bank statement program uses the $1.8M in deposits at a 50% expense ratio: $900,000 qualifying — nearly 5x what the tax return supports.

The Latin American business owner profile: LLC or S-Corp structure, 5–15 years in business, consistent deposit history of $50,000–$300,000/month depending on business size, 700–740 credit score typical. The 24-month bank statement documentation path is the most common qualification route.

Sample Miami bank statement calculation:
Doral logistics company owner, 24-month average business deposits: $185,000/month.
CPA certified 22% expense ratio: $185,000 × 78% = $144,300/month qualifying income.
Target: $1,750,000 Coral Gables primary, 80% LTV ($1,400,000 loan). FL overlay: within $2M.
PITIA: approximately $10,700/month. DTI: 9.4%. 718 credit. Close: 27 days. Tax return: not submitted.

DSCR Loans — Miami Investment Properties

Miami-Dade’s effective property tax rate (1.4–1.6%) combined with South Florida’s elevated insurance costs make standard DSCR (1.00+) uncommon in Miami proper. Most Miami investment properties produce DSCR of 0.70–0.90 — no-ratio territory.

Miami DSCR reality by zone:

Brickell / Downtown / Wynwood: Condos $450,000–$1,200,000. Rents $2,500–$4,500/month. HOA $600–$1,500/month. DSCR at any LTV: 0.55–0.72. Below no-ratio floor for most deals. Bank statement investment is the program for these price points.

Coral Gables / Coconut Grove: SFRs $800,000–$2,500,000. Rents $4,000–$8,000/month. DSCR: 0.65–0.80 at 70% LTV. Below floor or borderline.

North Miami / Little Havana / Hialeah: More accessible prices $320,000–$550,000. Insurance costs similar to higher-priced properties. DSCR: 0.78–0.92. No-ratio viable at 70% LTV for 700+ credit investors.

Broward County (Pompano Beach, Margate): Better DSCR ratios than Miami-Dade. Properties $290,000–$430,000 with modest HOA produce 0.82–1.00 DSCR at 70–80% LTV.

The Miami DSCR investment thesis: Investors buying in Miami generally accept no-ratio DSCR because the investment thesis is appreciation and rental income combined, not cash flow alone. The 30-year appreciation trajectory of South Florida real estate is the investment rationale. DSCR provides the financing vehicle at 70–75% LTV with the investor providing 25–30% equity.

Insurance is the critical variable. A waterfront or coastal Miami property can carry $6,000–$12,000/year in insurance — $500–$1,000/month in PITIA. A national estimator showing $1,200/year is wrong by a factor of 5–10 for coastal Miami. Always get an actual Florida insurance quote before modeling any Miami DSCR deal.

Asset Utilization — Miami Foreign National Buyers and Retirees

Miami’s asset utilization market has two distinct profiles:

Foreign national buyers:
Brazilian, Colombian, Argentine, and Venezuelan buyers with US-held assets — brokerage accounts, US bank deposits, US real estate portfolio equity (excluded from calculation but demonstrates wealth) — can qualify through asset utilization. The foreign income documentation challenge is bypassed entirely.

Requirements: Valid US visa (B-1/B-2, EB-5, E-2, L-1, or similar). ITIN or SSN. US-domiciled liquid assets (USD-denominated, in US financial institutions). Minimum 640 US credit score.

Path to US credit for foreign nationals: A Citibank, HSBC, or Latin American-focused US bank secured credit card used for 12+ months establishes a qualifying US credit score. Many South Florida foreign nationals establish US banking and credit relationships specifically for property acquisition purposes.

Miami retiree profile:
Retired Northern or Midwestern professional relocating to South Florida. Investment portfolio of $2M–$8M. No W-2. Asset utilization: eligible assets ÷ 84 = qualifying income. Plus Social Security and any pension income.

Example: Retired Chicago surgeon, Miami Beach purchase. Portfolio: $3.8M Fidelity brokerage + $920,000 IRA = $3,800,000 + ($920,000 × 70%) = $4,444,000 eligible. After $425,000 in deductions: $4,019,000 ÷ 84 = $47,845/month. Plus SS: $4,200/month. Combined: $52,045/month. Target: $1,850,000 Miami Beach primary, 80% LTV ($1,480,000 loan) — within FL $2M overlay. PITIA: $11,200/month. DTI: 25.9%.

The HOA Problem in Miami DSCR

Miami’s condo-heavy market creates a unique DSCR challenge: HOA fees of $600–$1,500+/month on most condo investment properties. This amount is part of PITIA and directly reduces DSCR.

A Brickell 2BR condo:
Purchase $680,000. Rent $3,400/month. HOA $850/month.
At 70% LTV ($476,000 loan): P&I $3,577. Miami-Dade taxes (1.5%): $850. Insurance (FL HO-6): $162. HOA: $850.
PITIA: $5,439. DSCR: $3,400 ÷ $5,439 = 0.63. Below no-ratio floor.

The HOA fee alone dropped DSCR 18 basis points below the no-ratio floor. Bank statement investment property financing — if the investor’s personal income supports it — is the appropriate program for high-HOA Miami condos where DSCR falls below 0.75.

Frequently Asked Questions

What is the maximum Non-QM loan in Miami?

$2,000,000 for primary residence under the Florida overlay. DSCR investment property follows national parameters without the $2M cap.

Can a foreign national buy a Miami property with a Non-QM loan?

Yes — through asset utilization. Requires valid US visa, ITIN or SSN, US-held liquid assets, and minimum 640 US credit score.

Is DSCR viable in Miami for investment properties?

In most Miami-Dade neighborhoods, DSCR produces ratios of 0.65–0.85 — no-ratio territory at 70% LTV. Standard DSCR (1.00+) is uncommon in Miami. Broward County (Pompano, Margate) offers better DSCR math.

Not a commitment to lend. FL #MLD1287 | Mbanc NMLS #38232 | Equal Housing Opportunity Lender

Miami Non-QM: Market Intelligence by Program

Who the market serves:
Miami’s Non-QM borrower base is unlike any other US city. Three dominant profiles define the market: (1) Latin American business owners with US-depositing LLCs, (2) foreign national buyers from Brazil, Colombia, Argentina, and Venezuela holding US assets, and (3) South Florida’s large retiree and second-home buyer market requiring asset utilization qualification.

Bank statement — Miami’s primary program:
A Colombian-American import/export company owner in Doral generating $1.8M in annual US business deposits qualifies on $900,000/year at 50% or up to $1.485M with a CPA at 17.5% — a 65% improvement over the standard ratio. For Miami’s Latin American business community, the bank statement loan with CPA letter is the standard primary residence tool.

Asset utilization — the foreign national path:
A Brazilian executive with $2.8M in a Schwab US brokerage account and an established ITIN uses asset utilization to purchase a Coral Gables primary: $2,800,000 eligible → after deductions $2.4M ÷ 84 = $28,571/month qualifying income. No Brazilian income documentation. No currency conversion. Just the US-held asset.

DSCR — what works and what doesn’t in Miami:
Miami-Dade property taxes (1.4–1.6%) plus South Florida insurance costs ($1,800–$5,000+/year) create a PITIA structure that makes standard DSCR uncommon. North Broward (Pompano Beach, Margate) at 1.4–1.5% taxes and sub-$380,000 properties produces no-ratio DSCR of 0.80–0.95 — the most viable DSCR zone in the Miami metro area.

The Miami DSCR Reality: Sub-Market by Sub-Market

Miami Beach / Surfside / Bal Harbour: Condos $650,000–$5M+. HOA $800–$3,000/month. DSCR 0.45–0.62. No program at any LTV.

Brickell / Downtown / Wynwood: Condos $400,000–$1.5M. HOA $600–$1,500/month. DSCR 0.55–0.73. Below floor.

Hialeah / Little Havana / Westchester: Properties $320,000–$520,000. More modest HOA ($150–$350 if any). DSCR 0.78–0.92 at 70% LTV. No-ratio viable.

North Miami / Aventura (condos): Unit prices $280,000–$580,000. HOA $400–$900/month. DSCR 0.68–0.85 depending on HOA. Borderline.

Pompano Beach (Broward) — Miami metro best DSCR:
Properties $295,000–$440,000. HOA minimal or none on SFRs. Broward taxes 1.4–1.5%. DSCR 0.82–1.00 at 70–80% LTV. The Metro Miami DSCR winner.

The Miami investor reality check: If appreciation is the thesis — Miami real estate has the 30-year track record — no-ratio DSCR or bank statement investment is the program. Standard DSCR simply doesn’t exist at most Miami price points.

Frequently Asked Questions

Can a foreign national buy property in Miami with a Non-QM loan?

Yes — through asset utilization with US-held liquid assets. Required: valid US visa (B-1/B-2, EB-5, etc.), ITIN or SSN, minimum 640 US credit score, and US-domiciled liquid assets. South Florida foreign nationals frequently establish US banking relationships specifically for this purpose.

What is the maximum Non-QM loan for a Miami primary residence?

$2,000,000 under the Florida state overlay for primary residence. DSCR investment properties follow national parameters.

Is DSCR viable in Miami?

Standard DSCR (1.00+) is uncommon in Miami proper. No-ratio DSCR (0.75–0.99) is viable at 70% LTV in Hialeah, North Miami, and North Broward. Pompano Beach produces the best DSCR ratios in the Miami metro area.

Not a commitment to lend. FL #MLD1287 | Mbanc NMLS #38232 | Equal Housing Opportunity Lender

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