Mortgage rates in Florida
30-yr fixed 7.18% · Freddie Mac PMMS, week of Nov 5, 2026 · APR benchmark 7.19% (APOR for locks from Nov 9, 2026) · Last reviewed Oct 18, 2026 by the Editorial Team
Florida draws heavy relocation demand and has no state income tax.
Mortgage rates today by loan type
These are national averages. Lenders in Florida price off the same national market, so treat them as a benchmark: your quote depends on your credit, down payment, loan size and points. The APR benchmark folds in typical points and fees, so it shows what a prime borrower's APR looks like this week.
| Loan type | Avg rate | APR benchmarkAPOR | Source · as of | What it measures |
|---|---|---|---|---|
| 30-year fixed | 7.18% | 7.19% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 20-year fixed | 6.66% | 6.93% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 15-year fixed | 6.57% | 6.67% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 10-year fixed | 6.31% | 6.82% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 5-year ARM | 6.73% | 6.67% | Zillow (via NerdWallet)Nov 6, 2026 | Fixed for 5 years, then adjusts; APOR = prime ARM benchmark |
| 7-year ARM | — | 6.50% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| 10-year ARM | — | 6.63% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| FHA 30-year | 6.89% | — | Optimal Blue OBMMINov 5, 2026 | Locked FHA loans, all credit profiles; daily |
| VA 30-year | 6.71% | — | Optimal Blue OBMMINov 5, 2026 | Locked VA loans; daily |
| USDA 30-year | 6.86% | — | Optimal Blue OBMMINov 5, 2026 | Locked USDA loans; daily |
| Jumbo 30-year | 7.25% | — | Optimal Blue OBMMINov 5, 2026 | Locked loans above the conforming limit; daily |
APR benchmark = FFIEC/CFPB Average Prime Offer Rate for rate locks in the week starting Nov 9, 2026 (published in advance): a prime borrower's APR including typical points and fees. It is not a quote; your APR depends on credit, down payment and the points you pay. APOR is not published for FHA, VA, USDA or jumbo loans.
Florida mortgage calculator
The calculator starts from Florida's median list price, 20% down, the state's 0.76% effective property tax, its median insurance premium and its average closing costs. Switch to FHA or VA, change the down payment, or pick your county to set its conforming limit. For the month-by-month split of principal and interest, open the amortization table. To see how Florida's property tax and insurance compare with every other state, try the PITI calculator by state.
Florida vs. the U.S.
Florida's median list price is close to the U.S. median, so at the same 7.18% rate the principal and interest on a 20%-down loan is within $28 a month of the national figure. Five-year price growth here was the 17th-fastest of 51 jurisdictions.
| Measure | Florida | U.S. |
|---|---|---|
| Median list priceRealtor.com, Oct 2026 | $409,900 | $415,000 |
| Principal + interest, 20% down30-yr avg 7.18% | $2,221 | $2,249 |
| Average home-purchase loanHMDA 2025 | $416,065 | $404,828 |
| Average closing costsincl. transfer taxes | $8,492 | $4,661 |
| Median conventional rate paid2025 purchase loans | 6.50% | 6.50% |
| Mortgage approval rateHMDA 2025 | 71.4% | 76.6% |
| Home values, 1 yearFHFA index, Q2 2026 | +1.4% | +3.0% |
| Home values, 5 yearsFHFA index, Q2 2026 | +46.0% | +41.3% |
What Florida borrowers actually paid in 2025
This is the state-specific part. Federal HMDA records show the rate and costs on every Florida home-purchase loan closed in 2025. We compare like with like: 30-year fixed, first-lien, one-unit primary homes. On conventional loans, Florida borrowers paid 0.03 percentage points above the market benchmark at lock, the 20th-highest of all 50 states and the District of Columbia.
| 2025 purchase loans | Median rateFL · U.S. | Over benchmarkFL · U.S. | Closing costsFL · U.S. | Paid pointsshare of loans | Median downequity on refis · FL |
|---|---|---|---|---|---|
| Conventional 30-yr fixed (conforming, 20%+ down)54,692 loans | 6.50%6.50% | +0.03+0.02 | $6,263$5,476 | 60.2%53.2% | 25% |
| Jumbo 30-yr fixed (20%+ down)2,888 loans | 6.75%6.63% | +0.15+0.00 | $16,201$10,251 | 43.2%38.4% | 20% |
| FHA 30-yr fixed58,158 loans | 6.13%6.25% | +0.28+0.42 | $12,326$11,291 | 62.4%59.3% | 3.5% |
| VA 30-yr fixed27,447 loans | 6.08%6.13% | −0.47−0.36 | $6,826$6,554 | 59.2%59.3% | 0% |
| Conventional rate-and-term refinance5,783 loans | 6.38%6.38% | −0.04−0.06 | $6,362$4,390 | 57.8%45.4% | 34.2% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), medians. "Over benchmark" = rate spread, the APR minus APOR on the lock date, which removes the effect of when each loan locked. Closing costs = total loan costs on the Closing Disclosure. HMDA has no credit scores, so these are what borrowers paid, not what you will be offered. See the lenders active in Florida and what their borrowers paid.
Florida's biggest conventional lenders: what their borrowers paid
The 8 largest conventional lenders in Florida by 2025 purchase loans, out of 1,609 that made one. Each row is the median for that lender's comparable loans here: 30-year fixed, conforming, 20% or more down. A lower figure over the benchmark means cheaper pricing for the same week.
| Lender | 2025 loansshare in FL | Median rate | Over benchmark | Originationmedian | Paid pointsshare · median | Median down |
|---|---|---|---|---|---|---|
| United Wholesale Mortgage | 21,32911.7% | 6.50% | +0.03 | $4,356 | 60%$2,332 | 25% |
| Rocket Mortgage | 7,7354.2% | 6.50% | +0.04 | $3,556 | 66%$2,963 | 25% |
| CrossCountry Mortgage | 6,3123.5% | 6.83% | +0.30 | $3,689 | 77%$3,204 | 25% |
| Lennar Mortgage | 5,1492.8% | 4.99% | −1.62 | $1,795 | 67%$4,082 | 20% |
| Chase | 3,7412.1% | 6.49% | −0.11 | $1,682 | 68%$2,326 | 25% |
| PennyMac | 3,4621.9% | 6.62% | +0.06 | $2,994 | 45%$1,976 | 20% |
| A&D Mortgage LLC | 3,4511.9% | 6.88% | +0.56 | $6,870 | 63%$2,100 | 25% |
| DHI Mortgage | 3,0341.7% | 5.50% | −1.18 | $0 | 76%$3,722 | 22.4% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), lenders with at least 30 comparable loans in Florida. Minimum credit scores are not shown here: conventional loans usually start at 620 (a lender floor; Fannie Mae's automated underwriting sets none), FHA 580 (500 with 10% down), VA none set by VA (lenders often 620). HMDA has no credit scores, so a lender's medians reflect its own mix of borrowers. FHA and VA lenders: Florida lender rankings.
How rates have moved
Weekly national averages over the past 30 days to 5 years. The 30- and 15-year lines are Freddie Mac average rates; the ARM lines are the APOR APR benchmark, because no free weekly ARM rate series exists.
- Now
- 7.18%
- Nov 5, 2026
- 1 week ago
- 7.24%
- −0.06 pts
- 1 month ago
- 7.40%
- −0.22 pts
- 1 year ago
- 6.22%
- +0.96 pts
30-year fixed: Freddie Mac PMMS (rate), weekly. National series.
What a mortgage costs in Florida
On a home at Florida's median list price of $409,900 with 20% down, the financed amount is $327,920, or about $2,221 a month in principal and interest at the 7.18% 30-year average.
What makes Florida different is the cost around the loan. Its 0.76% effective property-tax rate adds roughly $260 a month, and homeowners insurance — at the state's median 0.63% of home value — about $213 more, bringing the all-in estimate to $2,695. That figure is principal and interest at the 30-year average, property tax and insurance; at 20% down a conventional loan has no PMI, and HOA dues or local special assessments are not included. Your own price and down payment will move the number — work backward from your income with the how-much-house calculator.
Payment at the $409,900 median list price by down payment and loan type
| Loan | Rate | Monthlyall-in | Mortgage ins. | Cash to close | Income needed28% rule · yearly |
|---|---|---|---|---|---|
| Conventional, 20% downNo PMI | 7.18%Freddie Mac 30-yr avg | $2,695P&I $2,221 | — | $90,472 | $115,000 |
| Conventional, 10% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $3,187P&I $2,499 | $215 | $49,482 | $137,000 |
| Conventional, 5% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $3,338P&I $2,638 | $227 | $28,987 | $143,000 |
| Conventional, 3% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $3,399P&I $2,694 | $232 | $20,789 | $146,000 |
| FHA, 3.5% down1.75% upfront MIP financed + annual MIP | 6.89%OBMMI FHA avg | $3,302P&I $2,648 | $181 | $22,839 | $142,000 |
| VA, 0% down2.15% funding fee financed; no monthly MI | 6.71%OBMMI VA avg | $3,178P&I $2,705 | — | $8,492 | $136,000 |
Monthly = principal and interest + property tax (0.76% effective) + homeowners insurance (about $213/mo — Florida's median premium, 0.63% of home value) + mortgage insurance. HOA dues and local special assessments are not included. Cash to close = down payment + Florida's average closing costs ($8,492). PMI is an illustrative 0.7% a year; FHA and VA figures use HUD's MIP schedule and VA's first-use funding fee. Income needed = the gross yearly income at which the monthly figure is 28% of pay, the classic housing-cost guideline. Lenders also limit your total monthly debts as a share of income, so car, student-loan and card payments raise the income you need.
Prices, loan limits and payments in Florida's biggest counties
Home prices, and so the loan you need, vary more inside Florida than rates do. The table covers the largest county markets and the high-cost counties where the conforming limit is higher. Pick a row to load it into the calculator above.
| County | Median list priceSep 2026 · yr/yr | Avg purchase loanHMDA 2025 | Conforming limitmax price at 20% down | At 20% down | Est. paymentP&I + tax + ins. | Calculator |
|---|---|---|---|---|---|---|
| Miami-Dade County17,010 homes for sale · Sep 2026 | $589,000-1.3% | $673,28417,929 loans | $832,750$1,040,937 | Conforming$471,200 loan | $3,872at 7.18% | |
| Broward County14,329 homes for sale · Sep 2026 | $380,000-5% | $513,29516,955 loans | $832,750$1,040,937 | Conforming$304,000 loan | $2,498at 7.18% | |
| Palm Beach County9,942 homes for sale · Sep 2026 | $472,000-2.7% | $600,80815,443 loans | $832,750$1,040,937 | Conforming$377,600 loan | $3,103at 7.18% | |
| Lee County9,173 homes for sale · Sep 2026 | $379,900-5% | $359,29215,208 loans | $832,750$1,040,937 | Conforming$303,920 loan | $2,497at 7.18% | |
| Pinellas County6,523 homes for sale · Sep 2026 | $417,450-3.6% | $461,61610,442 loans | $832,750$1,040,937 | Conforming$333,960 loan | $2,744at 7.18% | |
| Hillsborough County6,284 homes for sale · Sep 2026 | $408,250-7.1% | $428,23317,344 loans | $832,750$1,040,937 | Conforming$326,600 loan | $2,684at 7.18% | |
| Orange County5,554 homes for sale · Sep 2026 | $424,950-1.2% | $482,56514,038 loans | $832,750$1,040,937 | Conforming$339,960 loan | $2,793at 7.18% | |
| Polk County4,801 homes for sale · Sep 2026 | $329,000-3.2% | $293,31813,749 loans | $832,750$1,040,937 | Conforming$263,200 loan | $2,163at 7.18% | |
| Collier County4,523 homes for sale · Sep 2026 | $676,694-1.9% | $660,1355,336 loans | $832,750$1,040,937 | Conforming$541,355 loan | $4,448at 7.18% | |
| Osceola County4,175 homes for sale · Sep 2026 | $405,875-4.8% | $373,9328,105 loans | $832,750$1,040,937 | Conforming$324,700 loan | $2,668at 7.18% | |
| Volusia County4,171 homes for sale · Sep 2026 | $362,250-3.4% | $335,3808,095 loans | $832,750$1,040,937 | Conforming$289,800 loan | $2,381at 7.18% | |
| Duval County3,907 homes for sale · Sep 2026 | $299,950-1.7% | $338,88312,958 loans | $832,750$1,040,937 | Conforming$239,960 loan | $1,972at 7.18% | |
| Monroe County1,163 homes for sale · Sep 2026 | $1,199,000-4.1% | $837,876977 loans | $990,150$1,237,687 | Conforming$959,200 loan | $7,882at 7.18% |
Sources: Realtor.com county research data (median listing price, Sep 2026); FHFA 2026 one-unit conforming limits; 2025 HMDA home-purchase originations (average loan, all loan types). Payments use the 30-year average (7.18%, or the jumbo average 7.25% above the limit), Florida's 0.76% effective property tax and its median insurance premium (0.63% of value), both from Census ACS 2024 data; county tax rates differ. Max price at 20% down = the county limit ÷ 0.8, the highest price at which a 20%-down loan stays conforming. Homes for sale = active Realtor.com listings in the month, excluding pending sales.
What's different about buying a home in Florida
Rates are national, but the rules around the loan are not. These Florida specifics can change your payment, your closing or your protections as a borrower.
Homestead tax cap resets when you buy
Florida caps yearly growth in a homestead's assessed value at the lower of 3% or the Consumer Price Index change, but only for the current owner. After a sale, the home is assessed at just (market) value the following January 1, so your tax bill can differ sharply from the seller's.
Source: flsenate.govCitizens insurance is not a guaranteed fallback
Citizens Property Insurance Corporation, the state-run insurer for owners who can't get private coverage, generally can't write a primary residence if a private insurer offers a standard wind-inclusive policy at a premium no more than 20% above Citizens' price. Get private quotes early, since lenders generally require coverage by closing.
Source: flsenate.govHurricane deductibles are a percentage of your home
Florida insurers must generally offer hurricane deductible options that include 2%, 5% and 10% of the dwelling limit, and policies with a separate hurricane deductible carry a boldface warning about high out-of-pocket costs. On a $400,000 dwelling limit, 2% is $8,000 and 10% is $40,000, so plan cash reserves beyond closing costs.
Source: flsenate.govCondo buyers: reserve studies are now mandatory
Florida condo associations must complete a structural integrity reserve study at least every 10 years for buildings of three or more habitable stories, and owners generally can no longer vote to waive the required reserves. In older buildings that can mean higher dues or special assessments, so review the study and budget before you offer.
Source: flsenate.govChecked against official sources on October 18, 2026. Laws and programs change; confirm details with the agency named or a local real estate attorney.
How Florida buyers finance their homes
FHA loans are where Florida stands out: they made up 17.8% of home loans originated here in 2025, against 13.2% nationally — the 7th-highest FHA share of any state. Lenders, agents and appraisers here handle FHA deals routinely, which helps if that is the loan you need.
| Loan type | Share in FL | U.S. share | Approval in FL | Avg loan in FL |
|---|---|---|---|---|
| Conventional | 72.2% | 78.0% | 69.6% | $380,843 |
| FHA | 17.8% | 13.2% | 74.9% | $331,797 |
| VA | 9.9% | 8.2% | 80.2% | $400,999 |
| USDA | 0.2% | 0.6% | 77.6% | $206,084 |
The average Florida home loan in 2025 was $373,739 — 6% above the U.S. average of $352,861, the 14th-largest of 51 jurisdictions. Home purchases accounted for 71.1% of those loans (U.S. 64.2%); cash-out refinances for 16.7% (U.S. 17.1%).
Source: 2025 HMDA originations, FFIEC/CFPB. Approval = originated ÷ (originated + denied).
Florida loan limits for 2026
1 of Florida's 67 counties are high-cost areas for 2026, with one-unit conforming limits above the $832,750 baseline — highest in Monroe County ($990,150). Everywhere else in the state the cap is $832,750, so the same loan amount can be conforming in one county and jumbo in the next. See the full national grid in our 2026 conforming limits table, and if you are over the line, what changes with jumbo mortgage rates.
County limits: FHFA 2026 conforming loan limit list (one-unit properties; two- to four-unit limits are higher).
Cash you'll need to close in Florida
Average closing costs in Florida are about $8,492 including transfer taxes (among the highest in the country). On a home at the median list price of $409,900:
| 20% down | 3% down | |
|---|---|---|
| Down payment | $81,980 | $12,297 |
| Average closing costs | $8,492 | $8,492 |
| Cash to close (estimate) | $90,472 | $20,789 |
Prepaid taxes and insurance are extra. Closing-cost averages by state (source: Bankrate).
Transfer taxes and recording rules in Florida
Florida's documentary stamp tax is $0.70 per $100 on deeds ($0.60 in Miami-Dade). Borrowers also pay $0.35 per $100 on the new mortgage plus a one-time 0.2% nonrecurring intangible tax on it — about $1,650 combined on a $300,000 loan. Source: floridarevenue.com
Getting approved in Florida
Federal HMDA lending records show Florida lenders originated 491,046 home loans in 2025 and denied 196,298 applications — an approval rate near 71.4% among decisioned applications, against 76.6% nationwide. See how all 50 states compare in our state approval-rate study, and how Florida ranks for mortgage complaint patterns (48,722 on record).
Shopping for a loan? See the most active mortgage lenders in Florida, ranked by federal HMDA volume.
Down-payment help in Florida
You rarely need 20% down. Florida Housing's Florida Assist ($10,000), FL HLP ($12,500), 3%–5% PLUS second and Hometown Heroes ($10,000–$35,000), plus up to $70,000 in Orange County and $35,000 in Miami-Dade. See all first-time home buyer programs in Florida — requirements, income limits by county and how far each covers a typical home.
Florida's MCC program: closed since December 31, 2020
Florida Housing hasn't issued MCCs since December 31, 2020; some county housing finance authorities run their own programs. Local issuers: Escambia County Housing Finance Authority (20%); Housing Finance Authority of Broward County. Which states still issue MCCs.
Check current terms at Florida Housing, see how a smaller down payment changes your number with the down payment tool, or compare first-time buyer programs nationwide.
How these numbers are measured
- Freddie Mac PMMS (30- and 15-year): a weekly average of rates offered to borrowers with 20% down and strong credit, published Thursdays; latest week Nov 5, 2026. Points are not reported.
- Optimal Blue OBMMI (FHA, VA, USDA, jumbo): daily averages of rates actually locked, across credit profiles. Points vary by loan.
- APOR (APR benchmark): FFIEC/CFPB's weekly Average Prime Offer Rate, an APR that includes typical points and fees for a prime borrower. Regulators use it to flag higher-priced loans.
- HMDA 2025 (Florida vs U.S.): rates, costs, points and down payments on loans that actually closed, reported by lenders to federal regulators. Updated once a year.
- Census ACS 2024 (property tax and insurance): what homeowners with a mortgage in Florida reported paying — the median real-estate tax divided by the median home value, and the median insurance premium as a share of value. Updated once a year.
- Interest rate vs APR: the rate sets your payment; the APR adds points and lender fees spread over the loan. Compare APRs on Loan Estimates for the same day and loan type.
Rates and APOR refresh every week; HMDA, loan limits and closing-cost averages refresh when their publishers release new data. Reviewed by our editors. Full sources and formulas: how we source our data.
Florida mortgage FAQ
What is a good mortgage rate in Florida right now?
A 30-year fixed close to the national average of 7.18% (Freddie Mac, week of Nov 5, 2026) is a fair benchmark for a borrower with strong credit and 20% down. In 2025, Florida's conventional buyers paid a median 6.50%.
Quotes well above that usually reflect lower credit, a small down payment or lender credits taken in exchange for a higher rate.
Are mortgage rates higher in Florida than in other states?
Slightly, once timing and fees are counted. In 2025 HMDA records, Florida's median conventional 30-year rate was 6.50%, against 6.50% nationally.
Against the benchmark for each loan's lock week, which counts points and fees, Florida loans priced 0.03 percentage points above it (the 20th-highest of all 50 states and the District of Columbia), against 0.02 above nationally.
Rates are set mainly in one national market, so your credit, down payment and loan size matter more.
What are current jumbo mortgage rates in Florida?
The national jumbo 30-year average is 7.25% (Optimal Blue). In 2025, Florida's jumbo buyers paid a median 6.75%. A loan is jumbo above the $832,750 conforming limit, or above $990,150 in Florida's highest-cost counties.
Jumbo lenders typically want 10–20% down, a 700+ credit score and 6–12 months of reserves.
Should I choose a 15-year or 30-year mortgage?
On a $327,920 loan (20% down on Florida's median list price), a 30-year at 7.18% costs $2,221 a month and a 15-year at 6.57% costs $2,869.
The 15-year saves about $283,269 in interest but needs $648 more a month, so it fits only if that payment is comfortable.
How much does a 1% difference in mortgage rates change my monthly payment?
On a $327,920 loan (20% down on Florida's median list price), moving from 7.18% to 8.18% raises the principal-and-interest payment from $2,221 to $2,447, or $226 a month.
Over 30 years that is about $81,357 more in interest, which is why comparing several lenders on the same day matters.
Are mortgage rates different for purchase and refinance loans?
Yes, slightly. In 2025, Florida's conventional rate-and-term refinances closed at a median 6.38% and purchases at 6.50%, partly because refinances bunch up when rates dip. Refinances priced 0.04 percentage points below the market benchmark; cash-out refinances usually cost more. Your own pricing depends on credit, loan-to-value and points.
How much is a mortgage on a $400,000 house in Florida?
About $2,629 a month with 20% down at 7.18%: $2,168 principal and interest, $253 property tax at Florida's 0.76% effective rate and $208 homeowners insurance. With 10% down, PMI adds about $210 and the total is near $3,110.
Florida's property tax runs below the U.S. median (0.76% vs 0.91% of value), and insurance above the U.S. median (0.63% vs 0.40% of value).
How much do you need to make to afford a $400,000 house in Florida?
About $113,000 a year with 20% down, so the $2,629 monthly payment stays within 28% of gross income — or about $133,000 with 10% down once PMI is added.
Car, student-loan and card payments count too: conventional loans generally cap all monthly debts at 45% of income (50% with an automated approval), FHA at 43% (up to 57% with compensating factors).
- Freddie Mac — Primary Mortgage Market Survey
- FFIEC / CFPB — Average Prime Offer Rates (APOR)
- FFIEC / CFPB — HMDA data browser (2025 loan-level records)
- Optimal Blue OBMMI via FRED (FHA, VA, USDA, jumbo)
- FHFA — 2026 conforming loan limits by county
- U.S. Census Bureau — 2024 American Community Survey microdata (property tax and homeowners insurance)
- HUD — Handbook 4000.1 (FHA mortgage insurance)
Rates shown are national weekly averages for general guidance, not an offer or personalized quote. Payment estimates assume the down payment noted plus estimated taxes and insurance. Confirm current pricing with a licensed lender.