Miami, Florida Mortgage Calculator - Monthly Payment with Taxes, PMI & Insurance

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.

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. Use this state mortgage calculator to combine that assumption with principal, interest, insurance, and PMI, then drill into county or city pages when you have a specific address.

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.

With 20% down at 6.5% for 30 years, principal and interest are about $2,023. Using the statewide school plus non-school planning rates (about 1.70% combined before homestead), tax escrow is roughly $567 per month on $400,000; add $100 insurance for about $2,690 PITI without PMI. Homestead exemptions and county millage can lower or raise the tax line—use Miami-Dade or other county pages for local overrides.

Yes. For Miami-Dade, this calculator uses 60 cents per $100 of consideration for single-family residential transfers. It does not add the Miami-Dade surtax because Florida DOR states that surtax is not due when the document transfers only a single-family dwelling. Confirm commercial or multi-unit deals with your closing agent.

This page uses DOR 2025 millage of 0.6633% school plus 1.18563% non-school, about 1.85% combined before homestead or Save Our Homes benefits. On $400,000 of taxable value, annual tax is about $7,396 (~$616/month escrow). Approved homestead exemptions can lower the bill for primary residences.

Florida homestead can reduce taxable value and cap annual assessment growth for a primary residence, so escrow after closing may differ from a non-homestead estimate. Enter your expected taxable value and toggle primary-residence inputs when available, then compare against the county millage shown here before relying on a lender escrow quote.

Miami-Dade County offers up to $35,000 as a 0% interest-free deferred loan. The City of Miami offers additional assistance through its First-Time Homebuyer Program. Combined, eligible buyers in Miami city limits can access significant help toward their down payment and closing costs.

Miami's median home prices are high ($450K+), but the county DPA of $35K and the Florida $25K homestead exemption help offset costs. The Save Our Homes 2.7% cap protects long-term owners from runaway appraisal increases. Use this city mortgage calculator to combine that local assumption with principal, interest, insurance, and PMI so your monthly PITI estimate is closer to a full housing payment before you talk to a lender.

Miami-Dade County's combined rate is approximately 1.85% before exemptions. After Florida's $25,000 homestead exemption (plus $25,000 non-school), the effective rate drops to 1.1-1.3% for qualifying primary residences. Use this city mortgage calculator to combine that local assumption with principal, interest, insurance, and PMI so your monthly PITI estimate is closer to a full housing payment before you talk to a lender.

Yes. Miami-Dade DPA can be combined with FHA, VA, and conventional financing. You'll need to work with a lender familiar with the program and meet the income limits ($109,200 for a 2-person household in 2025). Use this city mortgage calculator to combine that local assumption with principal, interest, insurance, and PMI so your monthly PITI estimate is closer to a full housing payment before you talk to a lender.

Fort Lauderdale offers up to $75,000 in DPA vs. Miami's $35,000 cap. But Miami's program has lower income limits and targets moderate-income buyers specifically. If you qualify for both, Fort Lauderdale's $75,000 covers more of a down payment, but Miami's program may be easier to access for lower-income households.

With 20% down at 6.5% for 30 years, principal and interest are about $2,023. At ~1.85% property tax, monthly escrow is about $616; with $100 insurance, estimated PITI is about $2,739 without PMI. Adjust inputs above to match your price, rate, and down payment.