Costs and deposits already paid
You may pay for an inspection or appraisal before closing. A contract deposit is usually counted toward the money due at closing. Do not count it twice.
Buying a home in Florida
Buying a Home in Florida Starts With Your Payment
Buying a home in Florida? Follow six clear steps, from setting your budget to getting the keys. Start with a payment that leaves room for the rest of your life.
The calculator estimates a price range. It is free to use, with no application or credit pull.
Personally overseen by Shahram Sondi, a Florida mortgage originator since 2001 and Certified Mortgage Advisor™.
Plan the payment before the address makes the decision for you.
01 · Comfortable payment
Start With a Payment You Can Comfortably Carry
A lender may approve more than you want to spend. Choose a payment that leaves room for food, travel, savings and repairs.
A useful housing budget includes more than the mortgage.
- Principal and interest
- Property taxes
- Homeowners and flood insurance when applicable
- Mortgage insurance when applicable
- HOA dues and CDD charges
Add utilities, repairs and upkeep to your own budget. They are not included in the calculator.
See what your budget may buy
- A price range to compareBased on the monthly payment and loan details you enter.
- A complete payment breakdownSee the loan payment, taxes, insurance and dues in one place.
- Cash to plan forCheck upfront costs and how much money you want to keep.
02 · Purchase cash
Plan for Cash Before and After Closing
Your down payment is only part of the cost. Plan for fees, taxes, insurance and money left after you buy.
Remaining funds due
This can include your down payment, loan and closing fees, and funds for taxes and insurance. Eligible deposits and credits reduce what is still due.
Money retained
Keep cash for moving, repairs and surprises. Lender-required reserves are money you must have left after closing. They are separate from the cash you pay to close.
Understand Florida closing costs →Learn how a down payment works →
03 · Loan options
Choose a Loan That Fits Your Plan
Compare the full payment and upfront cost. The right loan also depends on your credit, income, home and how you will use it.
Conventional
Some eligible purchase options allow as little as 3% down. Mortgage insurance, pricing and borrower requirements vary.
Review conventional loans →FHA
Some eligible buyers can put 3.5% down. Credit and lender rules apply. FHA has upfront and annual mortgage insurance.
Review FHA loans →VA
Eligible borrowers may have a no-down-payment option when the price and appraisal support it. A funding fee can apply; VA has no monthly mortgage insurance.
Review VA loans →Jumbo
For loans above the local conforming loan limit. The lender reviews your credit, income, cash and home. Rules vary.
Review jumbo loans →Different property or buyer situation?
Compare occupancy and loan structures, explore Florida first-time buyer help, check Orlando and Central Florida programs, explore a second home, learn about rental-property loans, understand an assumable loan, or plan for a property that needs work.
Loan-program sources checked October 15, 2026. Eligibility and lender requirements apply. Official references: Fannie Mae 97% LTV options, HUD FHA guidance, and VA purchase-loan guidance.
04 · Florida property checks
Check the Property Costs Before You Make an Offer
Two homes at the same price can cost very different amounts each month.
Property tax after purchase
Ask for a new-owner tax estimate. The seller’s tax bill may not be what you pay after buying.
Insurance and property condition
Get an insurance quote early. Ask if the roof, repairs or inspection reports affect the cost or coverage.
Flood exposure
Check flood risk for the address. Ask whether you need separate flood insurance and get a quote.
HOA, CDD and assessments
Check community dues and extra charges for repairs. CDD charges pay for community services or improvements. Do not add them twice if already in the tax estimate.
Condo eligibility
Ask the lender to check the condo building early. Its insurance, budget, repairs and other rules can affect the loan.
Builder incentives
Compare the builder’s written price and loan offer with another quote. Check the fees and any rules tied to the offer.
Official starting points for Central Florida tax estimates
Statewide references: Florida Department of Revenue buyer guide, FEMA flood insurance, and the Florida payment calculator.
05 · Pre-approval
Get Ready for Pre-Approval
Ask what records the lender has reviewed and what the letter depends on. Pre-approval helps you shop, but it does not promise a final loan.
What gets reviewed
- Pay and work records
- Bank statements and the source of your down payment
- Debts and current housing costs
- Loan type and plans for the home
What remains conditional
A pre-approval is not a final approval or commitment to lend. The lender still checks your records, the home, its value, insurance and title. Other loan conditions may apply.
06 · The buying process
Six Stages From Budget to Closing
Use this checklist to see what comes next. Ask your mortgage team and real estate agent who handles each step.
- 01
Set the budget
Choose a monthly payment you can afford. Keep money for bills, repairs and savings.
Still to check: Taxes, insurance and dues need to be checked for the home you choose.
- 02
Prepare the file
Gather pay records, bank statements and details of your debts and current housing costs.
Still to check: The lender still needs to check the records.
- 03
Build the pre-approval
Compare loan options and ask for a pre-approval based on a review of your records.
Still to check: The lender must still approve the home and clear any remaining loan conditions.
- 04
Choose the home and offer
Check the payment and cash needed for that address. Ask your agent about the offer and contract deadlines.
Still to check: The inspection, appraisal, insurance and contract terms can change the plan.
- 05
Finish the loan and home review
Send requested records through the secure process. The lender checks your finances and the home.
Still to check: Pre-approval is not final approval. Ask which items still need to be cleared.
- 06
Review final figures and close
Read the Closing Disclosure. Check the payment, fees and cash due. Ask about anything you do not understand.
Still to check: Use the final documents and verified closing instructions, not an early online estimate.
Inspection or appraisal?
An inspection looks for problems with the home. An appraisal estimates its value for the lender. One does not replace the other. Ask your agent about inspection deadlines in your contract.
Compare written loan costs
Compare Loan Estimates for the same loan details. Check the rate, APR, points, fees and cash due. Ask what can still change.
See Florida mortgage rate examples →Review before signing
For most purchase mortgages, you must receive the Closing Disclosure at least three business days before closing. Read it and ask about changes from your Loan Estimate.
Use the CFPB Closing Disclosure guide →Consumer guide checked October 15, 2026. Your contract, loan conditions and final documents control your purchase.
Should you buy now or wait? →Understand rates, points and lender credits →Compare points over your expected loan timeline →
07 · Direct expert oversight
Get Help With Your Home-Buying Plan
Shahram helps you compare loan options, plan your payment and cash, and understand what the lender needs next.
Mortgage originator since 2001 · Certified Mortgage Advisor™ · NMLS 186790 · Licensed Florida real estate broker
Recognized by Orlando Magazine in its 2026 “Mortgage Lender – Individual” category.
08 · Your next step
Build the Plan Before You Make the Offer
Pick a monthly payment you can live with. Use the calculator to explore a price range, then learn how to prepare for pre-approval. No contact details are needed to use the calculator.