Typical Florida mortgage payment
The median home price in Florida is roughly $410,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $3,242 | $2,201 |
| 5.50% | $3,350 | $2,328 |
| 6.00% | $3,460 | $2,458 |
| 6.50% | $3,572 | $2,591 |
| 7.00% | $3,685 | $2,728 |
| 7.50% | $3,801 | $2,867 |
| 8.00% | $3,918 | $3,008 |
At 6.50% over 30 years, a $410,000 home in Florida costs about $2,591/month in principal & interest.
What affects your Florida payment?
- Property taxes & insurance vary by county and aren't included above.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price is an approximate estimate. Figures are principal & interest only and exclude taxes, insurance and fees. Not financial advice.