South Miami

Home Loans

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South Miami Home Loans.

Whether you are a first time home buyer or trading up to a larger home in South Miami, we work to find the best home loan solution in south miami for you. Constantly surveying the hundreds of mortgage lenders as well as anonymously testing their staff, we are always aware of the conditions of the home loan market as well as the lenders involved in it.

Best Lender For South Miami Home Loans

Unfortunately, the subprime mortgage crisis has caused dramatic changes in the lending climate. Many lending institutions have suffered tremendous losses and as a result have tightened their lending standards drastically. Whereas it used to be very, very easy to meet the requirements in order to get approved, it is now much more difficult with most lenders. When searching for a mortgage lender in South Miami, it is important to find one that not only offers the lowest rates, but also has not tightened lending standards to the point that only a tiny percentage of applicants will qualify. At the top of our list right now is your local credit union. They have the lowest rates, a free and easy online application, and they have not been severely hurt by the subprime mortgage crisis.  They are still approving the majority of applications.

South Miami Florida Overview & Statistics

South Miami Overview

As of 2007, South Miami's population is 11,025 people. Since 2000, it has had a population growth of 2.64 percent.

The median home cost in South Miami is $641,300. Home appreciation the last year has been -2.24 percent.

Compared to the rest of the country, South Miami's cost of living is 40.48% Higher than the U.S. average.

South Miami public schools spend $5,974 per student. The average school expenditure in the U.S. is $6,058. There are about 16 students per teacher in South Miami.

The unemployment rate in South Miami is 3.20 percent(U.S. avg. is 4.60%). Recent job growth is Positive. South Miami jobs have Increased by 2.92 percent.

South Miami Climate

South Miami, FL, gets 53 inches of rain per year. The US average is 37. Snowfall is 0 inches. The average US city gets 25 inches of snow per year. The number of days with any measurable precipitation is 125.

On average, there are 250 sunny days per year in South Miami, FL. The July high is around 87 degrees. The January low is 62. Our comfort index, which is based on humidity during the hot months, is a 29 out of 100, where higher is more comfortable. The US average on the comfort index is 44.

South Miami Housing

The median home value in South Miami, FL, is $641,300. Home appreciation is -2.24% over the last year. The median age of South Miami, FL, real estate is 42 years.

South Miami, FL Apartments and Rentals

Renters make up 36.67% of the South Miami, FL, population. 3.51% of houses and apartments in South Miami, FL, are unoccupied (vacancy rate).

South Miami Crime

South Miami, FL, violent crime, on a scale from 1 (low crime) to 10, is 7. Violent crime is composed of four offenses: murder and nonnegligent manslaughter, forcible rape, robbery, and aggravated assault. The US average is 3.

South Miami, FL, property crime, on a scale from 1 (low) to 10, is 8. Property crime includes the offenses of burglary, larceny-theft, motor vehicle theft, and arson. The object of the theft-type offenses is the taking of money or property, but there is no force or threat of force against the victims. The US average is 3.

For related resources see also:

www.cityofsouthmiami.net

South Miami Real Estate Agents

Florida First Time Home Buyers Grants

Florida First Time Home Buyer Programs

Florida Home Loan