Today's Mortgage Rates in Florida

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Loan Type	Rate	APR	Points	Monthly Payment
FHA 30-Year Fixed	5.375%	6.087%	2.125	$2,139
VA 30-Year Fixed	5.375%	5.697%	2.250	$1,984
Conventional 15-Year Fixed	5.250%	5.680%	2.250	$2,813
Conventional 30-Year Fixed	5.875%	6.088%	1.750	$2,070
Jumbo 30-Year Fixed	6.000%	6.202%	2.125	$5,695

Loan Type	Rate	APR	Points	Monthly Payment
FHA 30-Year Refinance	5.375%	6.112%	2.375	$2,139
VA 30-Year Refinance	5.375%	5.651%	2.500	$1,969
Conventional 15-Year Refinance	5.125%	5.625%	2.500	$2,790
Conventional 30-Year Refinance	5.750%	6.052%	2.500	$2,042
Jumbo 30-Year Refinance	6.000%	6.214%	2.250	$5,695

Loan Type	Rate	APR	Points	Monthly Payment

FHA 30-Year Fixed: Interest rate offered based on $356,125 loan amount with 6.087% APR and $2,139 monthly payment at 70% loan-to-value (LTV) and 2.125 discount points. Payment is Principal and Interest example only.

VA 30-Year Fixed: Interest rate offered based on $354,375 loan amount with 5.697% APR and $1,984 monthly payment at 70% loan-to-value (LTV) and 2.250 discount points. Payment is Principal and Interest example only.

Conventional 15-Year Fixed: Interest rate offered based on $350,000 loan amount with 5.680% APR and $2,813 monthly payment at 70% loan-to-value (LTV) and 2.250 discount points. Payment is Principal and Interest example only.

Conventional 30-Year Fixed: Interest rate offered based on $350,000 loan amount with 6.088% APR and $2,070 monthly payment at 70% loan-to-value (LTV) and 1.750 discount points. Payment is Principal and Interest example only.

Jumbo 30-Year Fixed: Interest rate offered based on $950,001 loan amount with 6.202% APR and $5,695 monthly payment at 70% loan-to-value (LTV) and 2.125 discount points. Payment is Principal and Interest example only.

FHA 30-Year Refinance: Interest rate offered based on $356,125 loan amount with 6.112% APR and $2,139 monthly payment at 70% loan-to-value (LTV) and 2.375 discount points. Payment is Principal and Interest example only.

VA 30-Year Refinance: Interest rate offered based on $351,750 loan amount with 5.651% APR and $1,969 monthly payment at 70% loan-to-value (LTV) and 2.500 discount points. Payment is Principal and Interest example only.

Conventional 15-Year Refinance: Interest rate offered based on $350,000 loan amount with 5.625% APR and $2,790 monthly payment at 70% loan-to-value (LTV) and 2.500 discount points. Payment is Principal and Interest example only.

Conventional 30-Year Refinance: Interest rate offered based on $350,000 loan amount with 6.052% APR and $2,042 monthly payment at 70% loan-to-value (LTV) and 2.500 discount points. Payment is Principal and Interest example only.

Jumbo 30-Year Refinance: Interest rate offered based on $950,001 loan amount with 6.214% APR and $5,695 monthly payment at 70% loan-to-value (LTV) and 2.250 discount points. Payment is Principal and Interest example only.

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What Affects Mortgage Rates in Florida

Market conditions and your personal finances all influence mortgage rates on this page.

Keep in mind that the interest rate and APR aren't the same. The interest rate affects your monthly principal and interest payment, while the APR includes certain fees.

Here are some factors that can affect your mortgage interest rate in Florida:

Federal Reserve policy and inflation: Fed policy can affect your mortgage rate, even though the Fed doesn't directly set rates. Rates are generally higher when inflation runs high and the Fed sets out to curb it. Rates tend to fall when inflation softens and the Fed is more relaxed in its guidance.
Economic indicators: The housing and job markets, wage growth, and other economic factors also play a role in shaping investor expectations and lender pricing. Even within a state, different markets can mean different rates. Lender competition and other economic factors mean pricing in Miami might not be the same as in Jacksonville.
Your situation: Your credit score, debt-to-income ratio, down payment, closing costs, and details about your loan will also affect your final APR.

The rates on this page are based on certain, pre-set loan amounts and credit scores. To get a personalized rate that reflects both current economic conditions and your personal circumstances, you can connect with an experienced loan officer.

Types of Mortgages Available in Florida

Floridians have access to a range of mortgage options based on their unique financial situation. Some common options include:

Conventional Fixed-Rate Mortgages: These loans conform to Fannie Mae and Freddie Mac guidelines for underwriting and loan amounts. They typically require a credit score of at least 620 and a debt-to-income (DTI) ratio under 43-45%. The minimum down payment is generally 5%, but can be as low as 3% for qualifying borrowers, including many first-time homebuyers. Having a fixed rate means interest rate remains the same for the entire loan term, which is commonly 15 or 30 years. Private mortgage insurance (PMI) is usually required if your down payment is less than 20%, but it can usually be canceled once you gain enough equity in your home.
FHA Loans: Backed by the Federal Housing Administration, these loans have more flexible credit score and down payment requirements than most conventional loans. If you have a credit score of 580 or higher, you might qualify with a down payment as little as 3.5%. for borrowers with lower credit scores or smaller down payments. Mortgage insurance premiums (MIP) are required regardless of down payment size. That includes an upfront premium and ongoing monthly payments. If you have a down payment of less than 10%, MIP typically lasts for the life of the loan unless you refinance into a conventional mortgage. If your down payment is 10% or higher, you can request to cancel your MIP after 11 years.
VA Loans: VA loans are only available to eligible veterans, active-duty service members, and surviving spouses. They feature competitive rates and don't require private mortgage insurance or down payments. VA loans do require a one-time VA funding fee, but that can be financed. Some veterans, like those with disabilities related to their service, aren't required to pay the funding fee.
Jumbo Loans: These are mortgages that are higher than conforming loan limits. Most Florida counties use a baseline conforming loan limit set by the FHFA, but Monroe County has higher limits. Jumbo loans typically require stricter underwriting, and rates may be higher or lower than conforming loans depending on market conditions and borrower qualifications.
Adjustable-Rate Mortgages (ARMs): Adjustable-rate mortgages generally start with a a period of fixed interest rates, typically between 5 and 7 years. Then the rate periodically adjusts based on a benchmark index and lender margin. A 7/1 ARM, for example, means seven years of a fixed interest rate followed by periodic adjustments every year. That means payments can change after the introductory period, although ARMs usually come with rate caps to limit how much they can change. Like other conventional loans, PMI may be required if your down payment is less than 20%.

Refinancing a Mortgage in Florida

Refinancing in Florida can help you lower your rate or shorten your payoff term. Two common options are rate-and-term and cash-out refinances.

Rate-and-term Refinance: This replaces your mortgage with a new one. If you bought a house when interest rates reached a post-pandemic peak, for instance, you might refinance to get a lower rate now. Alternatively, rate-and-term refinances also let you take on higher payments
Cash-out Refinance: This takes the form of a larger loan that both replaces your existing mortgage and lets you take a portion of your equity as cash. The amount of equity you can access depends on your home value, how much you still owe, lender loan-to-value limits, and closing costs. While a home equity loan or HELOC lets you access equity in the form of a second loan, a cash-out refinance replaces your primary mortgage with a new one.

Does credit score affect mortgage rates?

Credit score has a major impact on your mortgage rates, with higher credit scores generally meaning lower interest rates.

Your credit score isn't the only thing that affects your mortgage rate, however. Your downpayment, debt-to-income ratio, loan term, and other factors will also affect your rate.

Larger factors, like inflation and the broader economy, also have a major impact on your rate.

How will property taxes and insurance in Florida
affect my mortgage payment?

Property taxes are often included in your mortgage payment as part of an escrow account. If that's the case, it means your lender will collect property tax payments each month and pay the tax bill for you. Some loan types, like FHA and VA loans, sometimes require escrow accounts.

Florida is generally in the middle of the pack compared to other states for property tax rates, according to the Tax Foundation.

Keep in mind property tax can vary significantly within a state, with urban areas generally higher than those in rural areas.

Homeowners insurance can also affect your mortgage payment if it's bundled into your premium with an escrow account. Your home's location, and whether it's in an area that is affected by natural disasters like floods, plays a major impact on your insurance cost. Details about your home, like its size, age, and condition can also affect your payment. Its coastal location and hurricane risk mean that Florida generally has high annual property insurance costs for homes with a mortgage when compared with other states, according to the U.S. Census Bureau.

Loan Officers in Florida

Elizabeth Goetsch

Sr. Loan Officer

NMLS ID# 1842479

Today's Mortgage Rates in Florida

Current Florida Mortgage and Refinance Rates

Legal Disclosures

Get your personalized rate

What Affects Mortgage Rates in Florida

Market conditions and your personal finances all influence mortgage rates on this page.

Types of Mortgages Available in Florida

Refinancing a Mortgage in Florida

Florida Mortgage FAQs

Loan Officers in Florida

Elizabeth Goetsch

Amanda Berry

Christina Klingman

Renata Wolfe

Bob Chamorro

P Connor Hancock

Rachel Perz

Erica Hilla

David Thornton

Jimmy Seewald

Allen Robinson

Nathan Davis