Mortgage Calculator — Florida
Pre-filled with Florida's average home price of $405000, property tax rate of 0.8%, and average insurance of $2800/year. Adjust any value below.
1 Loan Details
2 Monthly Costs (Florida averages pre-filled)
Include PMI
Required when down payment < 20%
Estimated Monthly Payment
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Total Interest Paid
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Over loan lifetime
Total Cost
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Principal + interest
Loan Amount
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Amount financed
Down Payment
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Of home price
Monthly Payment Breakdown
Balance Over Time
Rate Comparison
How your payment changes with different interest rates
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Amortization Schedule
Full month-by-month payment breakdown
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Florida Housing Market
Florida has no state income tax and relatively moderate property taxes, but homeowners insurance costs have surged due to hurricane risk — now among the highest in the nation at $2,500–$4,000/year in many areas.
Affordability in Florida
South Florida (Miami, Fort Lauderdale) commands premium prices with condos often exceeding $500,000. Central Florida and the Panhandle offer more affordable options, with median prices 20–40% below South Florida.
Key Markets
First-Time Buyer Programs in Florida
Florida Hometown Heroes Program
Up to 5% down payment assistance for working Floridians (nurses, teachers, first responders, and others). No repayment if you stay 5+ years.
Florida Housing First Time Homebuyer Loan
30-year fixed rate mortgage + down payment assistance of 3–5%. Available statewide.
SHIP Program
State Housing Initiatives Partnership — county-level assistance programs for down payment and closing costs. Amounts vary by county.
Property Tax in Florida
Florida's Save Our Homes cap limits property tax increases to 3% per year for homesteaded properties. When you buy, the cap resets. On a $405K home expect ~$3,240/year. Homestead exemption deducts $50,000 from assessed value.
Florida Conforming Loan Limit
$766,550 in most Florida counties. Monroe County (Florida Keys) has a higher limit of $874,000.
Closing Costs in Florida
Florida closing costs typically run 2–4% of purchase price. Key costs: documentary stamp tax ($0.70/$100 on deed), title insurance (required), lender origination fees. Miami-Dade buyers pay an additional $0.45/$100 surtax.
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