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Best Mortgage Rates in Florida — April 2026

Compare current Florida mortgage rates across loan types. The average home price in Florida is $405,000 with a property tax rate of 0.86%. Find the best rate for your Florida home purchase or refinance.

Avg Home Price
$405,000
Property Tax Rate
0.86%
Median Income
$67,917
Population
22.6M

Current Florida Mortgage Rates

Updated April 2026. Rates shown are averages — your rate depends on credit score, down payment, loan amount, and lender.

Loan TypeRateAPRMonthly P&I*
30-Year Fixed6.84%6.96%$2,122
20-Year Fixed6.61%6.71%$2,437
15-Year Fixed6.14%6.22%$2,759
10-Year Fixed5.94%6.01%$3,588
FHA 30-Year6.44%6.59%$2,036
VA 30-Year6.24%6.34%$1,993

*Monthly payment based on $324,000 loan (20% down on $405,000 avg home price). Does not include taxes or insurance.

Estimated Monthly Payment in Florida

Full PITI breakdown for a $405,000 home with 20% down at 6.84%:

Principal & Interest$2,122
Property Taxes$290
Homeowners Insurance$118
Total Monthly (PITI)$2,530

Florida First-Time Homebuyer Programs

FL Housing First Time Homebuyer

The Florida Housing Finance Corporation offers programs to help first-time buyers in Florida achieve homeownership. Benefits typically include:

  • Below-market interest rates for qualifying borrowers
  • Down payment assistance (up to 3-5% of purchase price)
  • Closing cost assistance programs
  • Homebuyer education and counseling
  • Compatible with FHA, VA, USDA, and conventional loans

Income limits, purchase price limits, and credit score requirements apply. Contact the Florida Housing Finance Corporation directly for current program details.

Popular Cities for Homebuying in Florida

🏠Miami
🏠Orlando
🏠Tampa
🏠Jacksonville
🏠Fort Lauderdale

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Florida Mortgage FAQs

What are current mortgage rates in Florida?+
As of April 2026, average mortgage rates in Florida are approximately 6.84% for a 30-year fixed, 6.14% for a 15-year fixed, and 6.44% for an FHA 30-year loan. Rates vary based on your credit score, down payment, loan amount, and lender. Use our mortgage calculator to estimate your specific payment.
How much house can I afford in Florida?+
With the average home price of $405,000 in Florida and a median household income of $67,917, affordability depends on your debt-to-income ratio, down payment, and current rates. A general rule is your monthly payment (including taxes and insurance) should not exceed 28-33% of gross income. At current rates, a $405,000 home with 20% down would cost approximately $2,530/month.
What is the property tax rate in Florida?+
The effective property tax rate in Florida averages 0.86%. On the average home price of $405,000, that's approximately $3,483 per year or $290/month. Property taxes are a significant part of your monthly housing cost and vary by county.
Are there first-time homebuyer programs in Florida?+
Yes! Florida offers the FL Housing First Time Homebuyer through the Florida Housing Finance Corporation. This program typically provides below-market interest rates, down payment assistance, and closing cost help for qualifying first-time buyers. Income limits and property value caps apply. Contact the Florida Housing Finance Corporation for current program details and eligibility.
Should I get a 15-year or 30-year mortgage in Florida?+
A 15-year mortgage in Florida currently offers rates around 6.14% vs 6.84% for 30-year, saving you significantly on interest. On a $324,000 loan, the 30-year payment is $2,122/month while a 15-year is $2,759/month. Choose 15-year if you can afford the higher payment; choose 30-year for more cash flow flexibility.
What credit score do I need to buy a home in Florida?+
In Florida, conventional loans typically require a 620+ credit score, FHA loans require 580+ (or 500+ with 10% down), and VA loans have no official minimum but lenders usually want 620+. Higher credit scores get better rates — a score of 760+ qualifies for the best rates in Florida, potentially saving thousands over the life of the loan. The Florida Housing Finance Corporation programs may have specific credit requirements.

Florida Mortgage Tools

🏠Mortgage Calculator🔄Refinance Calculator🏡HELOC Calculator📖Mortgage Guide

Mortgage Rates in Neighboring States

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