CalculatorFlorida FHA Loan Calculator
See your true monthly payment in Florida, including the state's 0.8% average effective property tax rate from U.S. Census Bureau data. If you're using the fha mortgage calculator in Florida, real local context matters. With a median home price around $433,600, small changes to rate or down payment can move your monthly payment meaningfully. This page also reflects a typical FL monthly mortgage of about $2,400 and a cost-of-living index of 103.1. Use the inputs below to estimate your payment and then sanity-check the result against what households in Florida tend to face.
Current Mortgage Rates
The current average 30-year fixed mortgage rate is 6.52%, and the 15-year fixed rate is 5.84%, as of June 11, 2026. Rates are sourced from Freddie Mac via FRED and update weekly. Use the calculator below to estimate your payment at the current rate.
Comprehensive Mortgage Calculator
Calculate your complete monthly housing payment with taxes, insurance, and PMI
Formula used in this calculation
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Amortization Schedule (First Year)tap to expand
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $2,192.52 | $313.58 | $1,878.93 | $346,566 |
| 2 | $2,192.52 | $315.28 | $1,877.23 | $346,251 |
| 3 | $2,192.52 | $316.99 | $1,875.53 | $345,934 |
| 4 | $2,192.52 | $318.71 | $1,873.81 | $345,615 |
| 5 | $2,192.52 | $320.43 | $1,872.08 | $345,295 |
| 6 | $2,192.52 | $322.17 | $1,870.35 | $344,973 |
| 7 | $2,192.52 | $323.91 | $1,868.60 | $344,649 |
| 8 | $2,192.52 | $325.67 | $1,866.85 | $344,323 |
| 9 | $2,192.52 | $327.43 | $1,865.08 | $343,996 |
| 10 | $2,192.52 | $329.21 | $1,863.31 | $343,667 |
| 11 | $2,192.52 | $330.99 | $1,861.53 | $343,336 |
| 12 | $2,192.52 | $332.78 | $1,859.73 | $343,003 |
Amortization Schedule (First Year)
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $2,192.52 | $313.58 | $1,878.93 | $346,566 |
| 2 | $2,192.52 | $315.28 | $1,877.23 | $346,251 |
| 3 | $2,192.52 | $316.99 | $1,875.53 | $345,934 |
| 4 | $2,192.52 | $318.71 | $1,873.81 | $345,615 |
| 5 | $2,192.52 | $320.43 | $1,872.08 | $345,295 |
| 6 | $2,192.52 | $322.17 | $1,870.35 | $344,973 |
| 7 | $2,192.52 | $323.91 | $1,868.60 | $344,649 |
| 8 | $2,192.52 | $325.67 | $1,866.85 | $344,323 |
| 9 | $2,192.52 | $327.43 | $1,865.08 | $343,996 |
| 10 | $2,192.52 | $329.21 | $1,863.31 | $343,667 |
| 11 | $2,192.52 | $330.99 | $1,861.53 | $343,336 |
| 12 | $2,192.52 | $332.78 | $1,859.73 | $343,003 |
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Florida Monthly Mortgage Payments by Home Price (30-Year Fixed)
Estimated monthly PITI payments in Florida assuming 20% down, a 6.5% interest rate, a 0.80% property tax rate (sourced from U.S. Census Bureau ACS data), and homeowners insurance. Figures are estimates.
| Home Price | Loan Amount | Principal & Interest | Property Tax | Insurance | Total Monthly (PITI) |
|---|---|---|---|---|---|
| $200,000 | $160,000 | $1,011 | $133 | $58 | $1,203 |
| $300,000 | $240,000 | $1,517 | $200 | $88 | $1,804 |
| $400,000 | $320,000 | $2,023 | $267 | $117 | $2,406 |
| $500,000 | $400,000 | $2,528 | $333 | $146 | $3,007 |
| $600,000 | $480,000 | $3,034 | $400 | $175 | $3,609 |
| $700,000 | $560,000 | $3,540 | $467 | $204 | $4,210 |
A $400,000 home in Florida has an estimated monthly payment of $2,406 including principal, interest, property taxes, and insurance.
How this calculation works
FHA loans require an upfront mortgage insurance premium (UFMIP) of 1.75% of the loan amount — typically rolled into the loan — plus an annual MIP of 0.55% divided monthly. On a $337,750 loan, this adds $154.80/month. MIP remains for the life of the loan if your down payment is under 10%.
How interest rate affects your payment
| Rate | Monthly P&I ($380k, 30yr) | Total Interest Paid |
|---|---|---|
| 5.5% | $2,158 | $397,000 |
| 6.0% | $2,279 | $440,000 |
| 6.41% | $2,374 | $474,000 |
| 6.82% | $2,478 | $512,000 |
| 7.5% | $2,657 | $576,000 |
A 1% rate difference on a $380,000 mortgage costs approximately $60,000 more over 30 years.
📊 Florida at a Glance
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How to Use This Calculator
Start with a home price near Florida's median of $433,600. Enter your down payment and interest rate, then review the monthly payment against your take-home budget — keeping in mind Florida's income tax rate of 0% income tax (no state income tax). FHA loans have specific requirements: FHA loans are government-backed and allow down payments as low as 3.5%, making them popular for first-time buyers with moderate credit.
How FHA Mortgage Calculator Is Calculated
Your monthly principal-and-interest payment is calculated using standard loan amortization. Formula: `Monthly P&I = P * [r(1+r)^n] / [(1+r)^n - 1]` Where `P` is the loan amount, `r` is the monthly interest rate (APR ÷ 12), and `n` is the total number of monthly payments (e.g. 360 for a 30-year loan).
Monthly Payment = P[r(1+r)^n] / [(1+r)^n - 1]Using This Calculator in Florida
Florida has no state income tax and a median home price of $433,600 (Redfin, 2025). Florida's adult obesity rate of 27.1% is below the national average (CDC BRFSS 2024). The cost of living is slightly above the US average at 103.1, driven primarily by housing. With a typical monthly mortgage of around $2,400 and a cost-of-living index of 103.1, this calculator helps you translate Florida market prices into a payment you can plan around. FHA loans are government-backed and allow down payments as low as 3.5%, making them popular for first-time buyers with moderate credit.
Tips & What Your Results Mean
Test at least two scenarios: one with your target down payment and one with 5% more down. In Florida, where the median home price is $433,600, small changes in down payment can meaningfully reduce your monthly payment. Also compare a 15-year vs 30-year term — the monthly payment difference is often smaller than people expect, while the total interest savings can be substantial.
Florida Mortgage & Property Tax FAQs
What is the average property tax rate in Florida?
The average effective property tax rate in Florida is 0.80%, based on U.S. Census Bureau ACS 2023 5-Year Estimates (2023 data). This is calculated by dividing median property taxes paid by median home value across the state.
How much do homeowners pay in property taxes in Florida?
The median annual property tax paid in Florida is $2,555, according to U.S. Census Bureau ACS 2023 5-Year Estimates (2023). Your actual amount depends on your home's assessed value and local millage rates.
What are the estimated property taxes on a median-priced home in Florida?
On a median-priced home of $325,000 in Florida, estimated annual property taxes are about $2,600 at the state's 0.80% effective rate, or roughly $217 per month added to your mortgage payment.
How is property tax included in my Florida mortgage payment?
Property taxes are typically collected monthly through an escrow account as part of your PITI payment (Principal, Interest, Taxes, Insurance). In Florida, at a 0.80% effective rate, this adds a predictable amount to your monthly payment that the lender holds and pays to local authorities.
What is the average mortgage payment in Florida?
A typical benchmark is around $2,400/month based on Florida market data. Your actual payment depends on home price, down payment, interest rate, and whether taxes and insurance are included.
What home price should I use for Florida planning?
A practical starting point is Florida's median home price of $433,600 (Redfin, 2025). Adjust up or down based on your target city and neighborhood.
How does Florida's tax rate affect affordability?
Florida has an income tax rate of 0% income tax (no state income tax). Base your affordability calculations on after-tax take-home pay rather than gross income to get a realistic picture.
Is a FHA loan right for me in Florida?
FHA loans are government-backed and allow down payments as low as 3.5%, making them popular for first-time buyers with moderate credit. Whether it's the right fit depends on your credit score, down payment, and the price of the home you're targeting in Florida.
Should I compare 15-year vs 30-year fha loans in Florida?
Yes. A 15-year term increases your monthly payment but significantly reduces total interest paid. Use the calculator to compare both and see which fits your monthly budget and long-term goals.
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