Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Florida mortgage costs
What a typical Florida (FL) purchase actually costs each month once property tax, insurance and PMI are included — and how to model your own numbers.
| Median home price | $410,000 |
|---|---|
| 10% down payment | $41,000 |
| Loan amount | $369,000 |
| Principal & interest (30yr @ 6.75%) | $2,393/mo |
| Property tax (0.79%) | $270/mo |
| Homeowners insurance | $458/mo |
| PMI (until 20% equity) | $154/mo |
| Estimated total monthly | $3,275/mo |
Illustrative only, at a 6.75% sample rate with 10% down. Your rate, tax assessment and insurance premium will differ.
What makes Florida different
Insurance, not tax, is the swing factor. Wind and flood coverage can add more to the monthly payment than a full point of interest.
Homeowners insurance is unusually expensive here — $5,500 a year, the 2nd highest in the country. That is $458 a month, and unlike principal and interest it is not fixed for thirty years; premium increases land on top of a payment you already committed to.
Worth noticing: insurance costs more than property tax here ($458 against $270 a month). That is the minority case nationally, and it means the usual advice to shop for a lower assessment matters less than shopping the policy.
Florida levies no state income tax, so a mortgage interest deduction is worth only your federal marginal rate. With $3,239 of property tax a year, many buyers here never clear the standard deduction and itemise nothing at all.
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