Florida Mortgage Calculator - Monthly Payment with Taxes, PMI & Insurance
Florida has no state income tax, but buyers should model local ad valorem property taxes plus closing taxes. This file uses Florida Department of Revenue's latest final Data Book available in May 2026: 2025 taxable value and taxes levied, extracted November 2025. The statewide property-tax estimate is split into school and non-school components because Florida's first $25,000 homestead exemption applies to all property taxes, while the additional $25,000 exemption applies to non-school taxes only. The 2026 Save Our Homes assessment cap is 2.7% for qualifying homestead property. Hometown Heroes is not modeled as active down payment assistance because Florida Housing reported the 2025-2026 allocation fully committed before May 2026.
Loan Details
$70,000 · LTV 80%
Buyer Profile
Extra Payment
Optional principal-only payment used to estimate payoff speed and interest savings.
Monthly Payment
$1,770 Principal & Interest · $439 Property Taxes · $125 Other
Methodology and limitations
Last reviewed:
Methodology
Uses standard principal-and-interest mortgage math, then models housing-cost inputs such as tax, insurance, PMI, and extra-payment scenarios where available.
Limitations
Planning estimate only. Actual approval, escrow, PMI, fees, taxes, insurance, and closing disclosures depend on lender, property, borrower profile, and local rules.
Official sources
Florida Mortgage Calculator - Monthly Payment with Taxes, PMI & Insurance
Florida has no state income tax, but buyers should model local ad valorem property taxes plus closing taxes. This file uses Florida Department of Revenue's latest final Data Book available in May 2026: 2025 taxable value and taxes levied, extracted November 2025. The statewide property-tax estimate is split into school and non-school components because Florida's first $25,000 homestead exemption applies to all property taxes, while the additional $25,000 exemption applies to non-school taxes only. The 2026 Save Our Homes assessment cap is 2.7% for qualifying homestead property. Hometown Heroes is not modeled as active down payment assistance because Florida Housing reported the 2025-2026 allocation fully committed before May 2026.
Use this mortgage calculator for Florida to estimate the monthly payment with principal, interest, configured annual taxes, eligible exemptions, and assistance programs when the buyer profile matches the conditions.
What This Estimate Uses
- Geographic level: state
- Configured property tax rate: 1.70%
- Configured benefits or exemptions: 3
- Reviewed sources: 6
What Changes in Florida
- Data level used: state. This page uses the most specific available data layer for Florida.
- Configured combined annual property tax rate: 1.70% before exemptions and buyer-specific conditions are applied.
Local Tax Assumptions
These are the annual tax assumptions configured for this page. The calculator applies them to the appropriate value, then accounts for exemptions or conditions when the buyer selects them.
- Florida School Property Tax - 0.656%
- Florida Non-School Property Tax - 1.045%
Programs and Exemptions Included
These benefits do not mean automatic approval. The calculator models them when the buyer inputs match the configured eligibility conditions.
- Florida Homestead Exemption - $25,000 (requires: primary residence)
- Florida Additional Homestead Exemption - $25,000 (requires: primary residence)
- Mortgage Credit Certificate (MCC) - 20% of mortgage interest (requires: first-time buyer, primary residence, buyer has a Mortgage Credit Certificate)
When This Estimate Can Change
- The actual property tax bill depends on the address, overlapping taxing jurisdictions, approved exemptions, and appraised value.
- Home insurance, flood insurance, HOA dues, and PMI can vary by property, lender, and buyer profile.
- Configured closing costs include Florida Deed Documentary Stamp Tax, Florida Mortgage Documentary Stamp Tax, Florida Nonrecurring Intangible Tax, but other settlement charges may appear on a real loan estimate.
2025 Local Home-Purchase Mortgage Market in Florida
Local home-purchase mortgage market context for Florida: in 2025 Home Mortgage Disclosure Act (HMDA) data, Florida logged 450,107 final-action applications. The mortgage denial rate was 13.12% and the originated share was 65.00%.
| Metric | Florida |
|---|---|
| Final-action applications | 450,107 |
| Mortgage denial rate | 13.12% |
| Originated share | 65.00% |
Source: FFIEC HMDA 2025 (LAR modificado, compra de vivienda) · Texas vs California mortgage denial rates (methodology)
Local Data and Sources
Last editorial verification: May 3, 2026. This page combines the official data layers configured for Florida.
The sources used on this page are Consumer Financial Protection Bureau mortgage cost guidance, Florida Department of Revenue Property Tax Data Portal, Florida DOR documentary stamp tax, Florida DOR nonrecurring intangible tax, Florida DOR Save Our Homes assessment limitation, Florida Housing Hometown Heroes funding status. Each source lists which rate, exemption, or program it validates and when it was last reviewed.
- Consumer Financial Protection Bureau mortgage cost guidance - verified May 3, 2026 - General U.S. mortgage closing-cost and mortgage-cost guidance.
- Florida Department of Revenue Property Tax Data Portal - verified May 3, 2026 - Official source for the 2025 final Data Book workbooks used for Florida statewide and county property-tax millage rates.
- Florida DOR documentary stamp tax - verified May 3, 2026 - Official source for deed and mortgage documentary stamp tax rates, including Miami-Dade single-family treatment.
- Florida DOR nonrecurring intangible tax - verified May 3, 2026 - Official source for the 2 mills nonrecurring intangible tax on mortgage obligations.
- Florida DOR Save Our Homes assessment limitation - verified May 3, 2026 - Official source for Florida homestead assessment-cap rules and the 2026 Save Our Homes limitation.
- Florida Housing Hometown Heroes funding status - verified May 3, 2026 - Official source used to exclude Hometown Heroes as an active May 2026 DPA benefit because the 2025-2026 allocation was fully committed.
Frequently Asked Questions
What Florida property tax rate is used here?
The statewide estimate uses Florida Department of Revenue 2025 final taxes levied divided by 2025 taxable value: about 0.6563% for school taxes and 1.0449% for non-school taxes before homestead exemptions. County pages override those rates with DOR county millage data.
How does Florida homestead affect this calculator?
For a qualifying primary residence, the first $25,000 exemption reduces both school and non-school taxable value. A second $25,000 exemption reduces only non-school taxable value. The Save Our Homes cap then limits annual assessed-value growth for continuing homesteads.
What Florida closing taxes are included?
The estimate includes deed documentary stamp tax on the sale price, mortgage documentary stamp tax on the loan amount, and nonrecurring intangible tax on the mortgage obligation. County files can override rates where Florida law differs, such as Miami-Dade deed documentary stamp tax.
Does this mortgage calculator include taxes and insurance?
Yes. This calculator estimates your full monthly housing payment by combining principal and interest with property taxes, homeowners insurance, and PMI when your down payment is below 20%. The result reflects a PITI-style payment rather than principal and interest alone, which helps you compare homes and loan scenarios more realistically before talking to a lender.
When does PMI apply on a mortgage?
Private Mortgage Insurance (PMI) typically applies when your loan-to-value ratio exceeds 80%, meaning your down payment is less than 20% of the purchase price. PMI is usually added to the monthly payment until you reach sufficient equity. This calculator includes PMI in the estimate when your inputs trigger it, so you can see how a smaller down payment affects affordability.