Florida mortgage calculator
Use our free mortgage calculator to estimate your monthly mortgage payment, includi...ng your principal and interest, taxes, insurance, and PMI in Florida. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.
Florida housing market
Florida, The Sunshine State, is the third-most populous state in the United States.... And while state average affordability metrics and home prices are similar to national averages, Florida residents know that the housing dynamics differ meaningfully within the state. Home prices are much lower in the Panhandle than the glitzier Atlantic Coast cities like Miami. Florida is among the most volatile housing markets and saw the largest decrease in home prices following the last housing crisis.
30 year fixedYour input
|15 year fixed||30 year fixed|
|Total interest paid|
30 year fixedYour input
|15 year fixed||30 year fixed|
|Total interest paid|
See how your payments change over time for your 30 year fixed loan term
At year 0
30 year fixed loan term
- Principal Paid
- Interest Paid
We’ll share an interesting insight here for key milestones in your payoff schedule.
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Know how much you qualify for. Based on your inputs, we recommend the following lenders:
Florida mortgage and refinance rates today (APR)
|30-year fixed-rate FHA||2.334%||2.998%|
|30-year fixed-rate VA||2.455%||2.734%|
Today’s mortgage rates in Florida are 2.949% for a 30-year fixed, 2.183% for a 15-year fixed, and 3.260% for a 5/1 adjustable-rate mortgage (ARM).
Getting ready to buy a home? We’ll find you a highly rated lender in just a few minutes.
Enter your ZIP code to get started on a personalized lender match.
Florida's first-time home buyer programs
The Florida Housing Finance Corporation, or Florida Housing, offers several loan programs to help qualified first-time home buyers get a mortgage.
HFA Preferred Grant
Down payment assistance
Closing cost assistance
What you need to know
This assistance program provides qualified borrowers with 3% of the home’s purchase price to be used as a down payment or to pay closing costs. The HFA Preferred program is a grant, which means it doesn’t have to be repaid.
Florida's best mortgage lenders
NerdWallet has done the work for you to pick the best financing partner for you in Florida.
Average property tax in Florida counties
Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in Florida. Because assessed values aren’t frequently updated, you may pay a higher rate at first but eventually you’ll pay a similar rate.
Avg. property tax rate
Avg. home value
|Indian River County||0.83%||$200,000|
|Palm Beach County||1.04%||$282,900|
|Santa Rosa County||0.78%||$192,900|
|St. Johns County||0.97%||$297,600|
|St. Lucie County||1.19%||$179,700|
Source: American Communities Survey 2016, U.S. Census
Under "Home price," enter the price (if you're buying) or the current value (if you're refinancing). NerdWallet also has a .
Under "Down payment," enter the amount of your down payment (if you’re buying) or the amount of equity you have (if refinancing). A is the cash you pay upfront for a home, and is the value of the home, minus what you owe.
On desktop, under "Interest rate" (to the right), enter the rate. Under "Loan term," click the plus and minus signs to adjust the length of the mortgage in years.
On mobile devices, tap "Refine Results" to find the field to enter the rate and use the plus and minus signs to select the "Loan term."
You may enter your own figures for , and , if you don’t wish to use NerdWallet’s estimates. Edit these figures by clicking on the amount currently displayed.
The mortgage calculator lets you click "Compare common loan types" to view a comparison of different loan terms. Click "Amortization" to see how the principal balance, principal paid (equity) and total interest paid change year by year. On mobile devices, scroll down to see "Amortization."
The mortgage payment calculation looks like this: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]
The variables are as follows:
Determining what your monthly house payment will be is an important part of figuring out how much house you can afford. That monthly payment is likely to be the biggest part of your cost of living.
Using NerdWallet’s mortgage calculator lets you estimate your mortgage payment when you buy a home or refinance. You can change loan details in the calculator to run scenarios. The calculator can help you decide:
Mortgage lenders are required to assess your ability to repay the amount you want to borrow. A lot of factors go into that assessment, and the main one is debt-to-income ratio.
Your is the percentage of pretax income that goes toward monthly debt payments, including the mortgage, car payments, student loans, minimum credit card payments and child support. Lenders look most favorably on debt-to-income ratios of 36% or less — or a maximum of $1,800 a month on an income of $5,000 a month before taxes.
If your mortgage payment included just principal and interest, you could use a bare-bones mortgage calculator. But most mortgage payments include other charges as well. Here are the key components of the monthly mortgage payment:
Typically, when you belong to a homeowners association, the dues are billed directly, and it's not added to the monthly mortgage payment. Because HOA dues can be easy to forget, they're included in NerdWallet's mortgage calculator.
The mortgage calculator lets you test scenarios to see how you can reduce the monthly payments:
Your monthly payment can go up over time if:
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