Mortgage rates in Florida
Average 30-year fixed 6.49% · Updated July 9, 2026 · Freddie Mac (FRED)
Florida draws heavy relocation demand and has no state income tax. Below is what buying at Florida's median price looks like at today's national average rate, plus the local property tax and assistance that actually change your payment.
What a mortgage costs in Florida
The interest rate on a Florida mortgage is the same 6.49% national average a lender would quote anywhere — rates are set by the bond market, not by your state. On Florida's median $423,900 home with 20% down, the financed amount is $339,120, or about $2,141 a month in principal and interest.
What makes Florida different is the cost around the loan. Its 0.82% effective property-tax rate adds roughly $290 a month, and homeowners insurance about $159 more — bringing the all-in estimate to $2,590. Those local costs, not the interest rate, are what set Florida apart. Your own price and down payment will move the number — work backward from your income with the how-much-house calculator.
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 (47,468 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 — Florida's housing finance agency — runs the state's main assistance program: Florida Assist and the Hometown Heroes program provide down-payment help. Eligibility usually turns on income limits and a homebuyer-education course. 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.
Florida mortgage FAQ
What is the current mortgage rate in Florida?
As of July 9, 2026, the U.S. average 30-year fixed rate is 6.49%. The note rate itself is set nationally, not by state — a lender prices your Florida loan the same way it would anywhere, based on your credit, down payment and loan type.
What changes locally is everything around the rate: Florida's ~0.82% effective property tax, insurance costs, and which assistance programs apply.
What is the monthly payment on a typical Florida home?
On Florida's median home price of about $423,900 with 20% down at today's 6.49% average 30-year rate, expect roughly $2,590/month — that's $2,141 principal and interest plus about $290 property tax and $159 insurance. Adjust the numbers for your exact price and down payment in our calculators.
How hard is it to get approved for a mortgage in Florida?
In 2025, Florida lenders originated 491,046 home loans and denied 196,298 applications — an approval rate of about 71.4% among decisioned applications, versus 76.6% nationally, according to federal HMDA data. See how every state ranks in our mortgage approval report.
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.