Florida Mortgage Calculator
2026Calculate your monthly mortgage payment in Florida. Factor in FL's 0.86% average property tax rate, homeowners insurance, and PMI for an accurate Florida home loan estimate.
Written and reviewed by Konstantin Iakovlev · Methodology · Updated
Monthly P&I
$1,733.12
Total Monthly Payment
$2,178.96
Total Interest Paid
$343,924.57
Monthly Payment Breakdown
| Loan Amount | $280,000.00 |
| Down Payment (20.0%) | $70,000.00 |
| LTV Ratio | 80.0% |
| Principal & Interest | $1,733.12 |
| Property Tax | $320.83 |
| Homeowners Insurance | $125.00 |
| Total Monthly Payment | $2,178.96 |
| Total Interest Over Life of Loan | $343,924.57 |
15-Year vs 30-Year Comparison
15yr Monthly P&I
$2,408.42
15yr Total Interest
$153,515.76
Interest Savings (15yr)
$190,408.81
Disclaimer: This calculator is for informational purposes only and does not constitute tax, financial, or legal advice. Results are estimates based on the information you provide and current rates. Always consult a qualified tax professional or financial advisor for advice specific to your situation.
How does buying a home in Florida work tax-wise?
Florida's average effective property tax rate is 0.86% of assessed value (2026), among the moderate range. On a $400,000 home, that translates to roughly $3,440 per year, billed by your county or municipality. Homestead exemptions, senior or veteran reductions, and assessment caps can reduce the effective rate for primary residences in many jurisdictions.
At the federal level, mortgage interest is deductible if you itemize, capped at the interest on the first $750,000 of acquisition debt (or $375,000 for married filing separately). State and local taxes (SALT), including property tax, are deductible up to a combined $40,000 cap for 2026 under OBBBA (raised from $10,000), with a 30% phase-down on MAGI above $500,000 (floor $10,000); the cap is inflation-indexed through 2029 before reverting to $10,000 in 2030. Closing costs typically run 2–5% of the loan amount; transfer taxes and recording fees vary by county.
Florida has no state income tax, simplifying the deduction picture. Use this calculator to estimate your monthly principal, interest, taxes, and insurance (PITI) payment given your loan terms and Florida's property-tax rate.
Florida mortgage market: foreclosure, transfer tax, and refinance rules
- Median home price (Q4 2025)
- $410,000
- Foreclosure type
- Judicial (court-supervised)
- Real-estate transfer tax
- $0.70 per $100 (0.70%) on deeds; $0.35 per $100 on mortgages (Documentary Stamp Tax)
Florida uses judicial foreclosure — typical timeline from filing to sale is 8–14 months, with mandatory mediation in many circuits since 2010. The state imposes a 0.70% Documentary Stamp Tax on deeds (paid by seller customarily) and a separate 0.35% mortgage tax (paid by buyer). Median home price of about $410,000 reflects post-2022 cooling in markets like Tampa, Jacksonville, and Cape Coral. Insurance costs and HOA dues materially affect Florida affordability calculations.
Florida Mortgage & Property Facts (2026)
| Avg. Property Tax Rate | 0.86% |
| State Income Tax | None |
| State Sales Tax | 6% |
| Estate Tax | No |
Florida mortgage — frequently asked questions
What are typical Florida mortgage rates in 2026?
Florida mortgage rates track national averages (6.5%-7.5% for 30-year conventional in 2026). Florida's median home price of about $410K keeps most buyers within the standard $524,225 conforming loan limit, except in coastal metros (Miami, Naples, Sarasota) where homes routinely exceed $800K and require jumbo loans.
How does Florida's Save Our Homes (SOH) cap work for new buyers?
Save Our Homes caps annual assessed-value growth at 3% or CPI for HOMESTEAD properties (your primary residence). When you BUY a Florida home, the assessment resets to current market value — you don't inherit the seller's lower SOH-capped value. From your purchase year forward, your assessed value grows at most 3%/year. This makes long-term ownership in fast-appreciating markets dramatically cheaper than recent purchases of identical homes.
What's special about Florida hurricane insurance for mortgages?
Florida lenders require both standard homeowners insurance AND separate windstorm coverage in coastal counties. Citizens Property Insurance (state-run insurer of last resort) writes ~1.5M policies — about 25% of FL homeowners can't get private coverage. 2024-2025 saw major insurance reform (SB 7052). Average Florida homeowners insurance is $4,200/year (4× national average); in counties along the Gulf or Atlantic the premium can exceed $10K/year.
Does Florida have first-time homebuyer assistance?
Yes. FHFC (Florida Housing Finance Corporation) programs: (1) Hometown Heroes Program (2022, expanded) — up to $35,000 DPA for teachers, nurses, first responders, military, and 50+ "essential worker" categories earning under 150% AMI. Among the most generous in the country. (2) Florida Assist — $10K DPA as 0%-interest deferred second mortgage for general first-time buyers under 80% AMI. (3) Optional MCC converting up to 50% of mortgage interest to federal tax credit (capped $2K/year).