Florida Mortgage Calculator

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Home Price
$
Down Payment
$
Interest Rate
%
Property Assessed Value
$
Length of Loan
County
Result
Monthly Payment Breakdown

Monthly Mortgage Payment
$1,012
Property Tax
$
Homeowners Insurance
$
HOA Fees
$
Total Monthly Payment
$1,105


Amortization Schedule

Show Amortization Schedule


What You Should Know

  • This Florida Mortgage Calculator enables you to estimate your mortgage payments as well as other expenses related to homeownership.
  • This calculator uses the data for the state of Florida to accurately estimate property taxes and other fees.
  • Florida also levies a transfer tax at the time of a property transfer that must be accounted for before property purchase.
  • Florida is known as a tourist and retiree destination, which makes it a great place for a summer house or an investment property.

About This Mortgage Calculator

This Florida Mortgage Payment Calculator estimates your mortgage payments based on home price, down payment, mortgage interest rate, and loan term. The results section of the calculator shows a breakdown of monthly payments into principal, interest, property taxes, and others. This calculator is best used for a conventional loan, but it can also be used for FHA loans, VA loans and USDA loans.

This mortgage payment calculator is designed for Florida. It can accurately estimate the mortgage cost in the state of Florida as well as other fees. This calculator also estimates the property taxes, HOA fees and private mortgage insurance when required. To estimate the results for the Florida mortgage calculator, the borrower has to provide the following inputs:

  • Home Price: The price of the home you are buying.
  • Down Payment: The amount of money you are planning to pay as a down payment on your home. Generally, the lowest possible down payment is 3%, but the most popular down payment usually stands at 20%.
  • Interest Rate: The interest rate you pay on your mortgage loan. It is best to use the current mortgage rates if you do not know your interest rate.
  • Property Assessed Value: The value of the property according to the property assessment. If you do not know the property assessed value, you should use your home price as the assessed value.
  • Length of Loan: The number of years you are planning to pay off your mortgage loan. The most common loan lengths are 15 years and 30 years. The greater the life of the loan, the more interest paid over the loan lifetime.

The results section of the Florida Mortgage Calculator provides a detailed analysis of your home loan. It includes a clear breakdown of the monthly payments with mortgage payments, property taxes, homeowners insurance and PMI when applicable. The results section also provides the graphs to visualize how much interest and principal you are paying over time. It also shows how your principal amortized and provides a downloadable amortization schedule.

Florida Transfer Tax Calculator

Transfer tax can be a hefty expense in Florida, so you should accurately estimate the transfer tax you will have to pay. This transfer tax calculator for Florida enables you to accurately estimate the transfer tax you may have to pay on your property. Simply adjust the inputs of the calculator to get your detailed transfer tax result.

Calculator
Property Purchase Price
$
Remaining Mortgage Amount
$
Which County Do You Live In?
Estimated Transfer Tax:$3,120.00
Total Transfer Tax Rate:0.60%
State Transfer Tax:$0.00
County Transfer Tax:$1,800.00
Mortgage Tax:$1,320.00

Florida Mortgage Rates

Mortgage rate is an important factor that determines how expensive your loan will be. The higher the interest rate on your loan, the higher your monthly payments will be. To avoid overpaying for a mortgage, you should shop around and find the best rate possible. The following table provides you with a list of the best mortgage rates in Florida.

Current Best Florida Mortgage Rates

While we try our best to get your the best rates, we cannot guarantee that they are always accurate. Casaplorer assumes no liability and provides no warranty for the accuracy of the information presented, and will not be held responsible for any damages resulting from its use. Rates shown are for informational purposes only and may differ by zipcode, county, and state. Estimated payments do not include taxes and insurance. Some state and county maximum loan amount restrictions may apply. Casaplorer is not endorsed or sponsored by any mortgage lender or government agency. For information regarding any of these rates, please contact the relevant mortgage lender.

Florida Housing Market

Florida, also referred to as the Sunshine State, is a popular place as a vacation destination. This state has warm weather, tourist attractions and resorts throughout. Florida has a lot of tourists coming every season, so a large chunk of people living in the state are not permanent residents. In 2021, permanent residents living in Florida accounted for 21.78 million people.

Florida is known for its climate and a large shoreline. The shoreline in Florida extends for over 8,400 miles. Most of the residents in Florida live in coastal counties as they are considered the most desirable. The cities that are located on the coast of Florida are often considered some of the fastest growing cities in the US.

Due to its warm climate and generally attractive area, the housing market has been increasing rapidly during the past few years. Real estate market was competitive, so buying a home in Florida required a lot of effort and cash. Since the pandemic, Florida has seen an increase in median home price of 58%, which is 18% higher than the national average. Currently, the median home price in Florida is listed at around $407,000.

Florida and US Median Home Price Index Chart

Florida state is a favorable destination for tourists and retirees due to its warm climate and relatively affordable housing. It is a good location for getting a summerhouse or an investment property. Florida has a lot of luxury houses and affordable condos available throughout the state.