Skip to main content
NMLS 2412313
CALL SHAHRAM

Today’s Florida Mortgage Rates

Sick of high rates
and closing costs?

Give me a shot. Text me your home price, credit score and down payment. Got a bank offer? Include it. I’ll text back what I can do.

Text Me for OptionsCall Me

No full application to start. Like what you see? Then we’ll talk.

Explore rates yourself No personal info needed.

Shahram with WESH 2 anchor Michelle ImperatoShahram on WESH 2 NewsWatch the mortgage-rates interview ↗Watch the 35-second introduction
Loan type
Rate type

$100,000

Try a different down payment

Or enter your own amount above. Eligibility requirements apply.

Primary home · 30-year fixedMore options +

FHA and VA price a primary residence. Rates use a 30-day lock. Edit taxes, insurance and HOA in the payment breakdown below.

Change your numbers. Rates update automatically.

Florida mortgage rates, explained

Your rate. Your payment. Your cash to close.

35 seconds with Shahram Sondi · NMLS #186790

Read the video transcript

Florida mortgage rates can look great online. But what will that rate actually cost you?

That’s why I built this page. Put in your purchase price, credit score and down payment.

Compare your available rate options with points, without points, or with lender credits. See what each option means for your estimated payment and cash to close.

You don’t have to give me your name, phone number or email to try it. Take it for a test drive.

When you’re ready, we’ll talk through the options and figure out what fits your situation.

Mortgage questions? Call or text me for straightforward answers.

(407) 906-6414 · mortgageexpert.com

Compare your rate options

Conventional · 30-year fixed · 780–799 credit · $400,000 purchase · 25% down

Choose a rate to see its payment, closing costs and loan details.

7-year ARM (7/6) · PennyMac

Interest rate fixed for 7 years, then may adjust every 6 months. Payments may increase. 30-year repayment term.

Initial rate 6.000%APR 6.589%2.198 points · $6,594 paid at closing

The APR may increase after closing.

Payments, assumptions & ARM disclosures
Illustrative payment schedule
PaymentsRateMonthly P&I
1–8484 payments6.000%$1,798.65
85–360276 payments6.625%$1,900.50

The later rate and payment are examples that assume the index stays at today's value. They are not a prediction: the index can go up or down, and refinancing before the rate changes may not be available.

Payments shown are principal and interest only. They do not include taxes, homeowners insurance or HOA dues, so your actual monthly payment will be higher.

Adjustable-rate mortgage. 6.000% interest rate, 6.589% APR. The interest rate is fixed for the first 7 years (84 monthly payments). After that it can change every 6 months, so the payment can go up or down. The APR may increase after closing.

$400,000 price, $100,000 down (25%), $300,000 loan, 360 monthly payments. 2.198 points · $6,594 paid at closing.

Assumes a Florida purchase of a one-unit single-family primary residence, credit 780–799, a 30-day rate lock, full escrows and a standard (not high-balance) loan amount. Approval requires automated underwriting approval; the lender qualifies you at no less than the initial rate. Not every borrower or property qualifies.

The later rate shown, 6.625%, is the SOFR 30-day average of 3.913% published November 6, 2026 by the Federal Reserve Bank of New York, plus a 2.750% margin, rounded to the nearest 0.125%. The first rate change can take effect with payment 85.

Rate limits: up to 5 percentage points at the first change, 1 at each later change, and never more than 11.000%. At that maximum the payment would be $2,681.14, as early as payment 85. The lowest rate the loan can reach has not yet been confirmed by the lender.

PennyMac rate sheet, November 6, 2026, 9:40 a.m. ET. Rates may change or be unavailable at commitment or closing. This is an estimate, not a loan approval or a rate lock.

If you apply for this adjustable-rate loan, PennyMac, the lender, sends you the Consumer Handbook on Adjustable-Rate Mortgages and its disclosure for this ARM program.

Loan assumptions, pricing & disclosures
Loan purpose
Purchase
Purchase price
$400,000
Down payment
25% · $100,000
Base loan amount
$300,000
Total financed loan
$300,000
Payment calculated on
Base loan amount
Property taxes (annual)
$5,000 · planning default · 1.25% of purchase price
Homeowners insurance (annual)
$2,400 · planning default · $2,400/year
Term
30-year fixed
Credit range
780–799
Occupancy
Primary residence
Property type
Single-family
State
Florida
Lock period
30-day lock

Lower rate · Provident

Interest rate
6.375%
Annual percentage rate (APR)
6.606%
Discount points / lender credit
1.625 points · $4,875 upfront rate cost
Repayment terms
30-year fixed · Approximately 360 monthly principal-and-interest payments of $1,872. This principal & interest amount excludes property taxes, homeowners insurance, HOA/CDD dues, flood insurance and other property-specific costs; your actual total monthly payment will be higher.

Other closing costs apply.

Zero discount points · Provident

Interest rate
6.875%
Annual percentage rate (APR)
6.950%
Discount points / lender credit
0 discount points + $1,125 lender credit
Repayment terms
30-year fixed · Approximately 360 monthly principal-and-interest payments of $1,971. This principal & interest amount excludes property taxes, homeowners insurance, HOA/CDD dues, flood insurance and other property-specific costs; your actual total monthly payment will be higher.

Other closing costs apply.

The most common starting point for a borrower with an established credit profile. Mortgage insurance applies above 80% loan-to-value and ends under the applicable rules.

No private mortgage insurance applies at this loan-to-value.

The lower-rate option is the lowest actually priced rate costing more than zero and no more than 2.500 borrower-paid discount points; the points and dollar cost shown are that row's own, and one point is 1% of the loan amount. The zero-discount-point option uses an exact-zero row when one is priced, otherwise the lowest actually priced rate that carries an actual lender credit. Discount points are separate from lender fees and other closing costs, and zero discount points does not mean zero closing costs. A missing option is shown as unavailable rather than substituted.

Estimated cash needed includes the down payment, modeled closing costs, prepaids, escrow setup, and the discount points or lender credit for the option.

Illustrative Florida estimate. Not an offer, approval, commitment to lend, Loan Estimate or rate lock.

Every figure on this page is calculated by the same pricing engine used for a real scenario review, not typed in, not averaged from a survey, and not a live market feed.

The simple break-even compares additional upfront rate cost with estimated monthly principal-and-interest savings. It does not include taxes, insurance, mortgage insurance, HOA, inflation, tax effects, opportunity cost, prepayment, sale, refinancing, or future rate changes.

How lender credits can help with closing costs

Want more cash left after closing?

Let’s look at lender-credit options and what they mean for your payment. Lender credit from the rate you choose may cover all or part of your eligible closing costs.

Pro: Less cash upfront

Lender credit may pay all or part of your eligible closing costs.

Con: Higher rate & payment

For the same loan, more credit generally means a higher rate, payment and interest cost.

Text About Closing CostsCall MeSee the pros & cons

* More lender credit generally means a higher rate, payment and interest cost. Full coverage requires a $250,000+ loan and enough credit. Down payment, prepaids, escrow deposits and HOA charges are not covered. Not all borrowers qualify. Florida primary homes only: resale purchases and eligible refinances. Second homes, investment properties, and builder/new-construction transactions excluded. Covered costs, eligibility & exclusions

More rate options & editable cost assumptions

Lower rate · Up to 2.5 points · Provident 1 / 2

Estimated total monthly payment

$2,488/mo

Includes taxes and homeowners insurance.

Principal & interest

$1,872/mo
30-year fixed · Approximately 360 monthly principal-and-interest payments of $1,872. This principal & interest amount excludes property taxes, homeowners insurance, HOA/CDD dues, flood insurance and other property-specific costs; your actual total monthly payment will be higher.
What's inside your payment?

How your estimated total payment adds up

  • Principal & interest
  • Property taxes
  • Homeowners insurance
Principal & interest
$1,872
Property taxes
$416.00
Homeowners insurance
$200.00
HOA / CDD
Not included
Estimated total monthly payment
$2,488

Property taxes, homeowners insurance and mortgage insurance are estimates. Actual amounts depend on the property, coverage and final loan terms.

Rate6.375%
APR 6.606%

1.625 points · $4,875 upfront for this rate

Money needed at closing

$114,920Estimated total
Down payment
$100,000.00
Closing costsIncludes upfront rate cost
+ $12,221.00
Prepaids & escrows
+ $4,774.00
Credits & deposits
− $2,075.00
Where does the money go?

Budget for more than the down payment. Closing costs pay for the loan and closing services. Prepaids and escrows cover items such as interest, insurance and tax reserves.

+ Down payment
$100,000.00
+ Closing costs before creditsIncludes $4,875 upfront for this rate (1.625 points).
$12,221.00
+ Prepaids & initial escrows
$4,774.00
− Credits & deposits
−$2,075.00
Estimated money needed at closing
$114,920
See every cost and credit
Down payment
$100,000.00
Lender underwriting / administration
$1,225.00
Appraisal
$600.00
Credit report
$139.00
Settlement / closing services
$500.00
Survey
$350.00
Lender’s title insurance
$1,575.00
Owner’s title insurance — simultaneous issue
$750.00
Florida Form 9 endorsement · 10% × $2325.00 combined policy premiums
$232.50
Environmental protection lien endorsement (ALTA 8.1)
$50.00
County recording fees
$275.00
Florida documentary stamps on the mortgage / note
$1,050.00
Florida nonrecurring intangible tax
$600.00
Discount points
$4,875.00
Prepaid interest · 10 days × $52.40 per day (daily figure rounded for display)
$523.97
First-year homeowners insurance · 12-month premium
$2,400.00
Property-tax escrow deposit · 3 months
$1,250.00
Homeowners insurance escrow deposit · 3 months
$600.00
Assumed seller contribution for owner’s title insurance
−$2,075.00
Estimated money needed at closing
$114,920.47

Final cash needed depends on verified costs, deposits and eligible credits.

Using 2 planning estimates

Property tax: 1.25% of purchase price annually. Homeowners insurance: $2,400/year. HOA / CDD is included only when you enter it.

Explore the rate steps

Tap a stop or slide. Each stop is a priced choice.

Less money upfront Lower monthly payment

My current available options for this scenario: 5 priced choices.

30-year fixed · Approximately 360 monthly principal-and-interest payments of $1,872. This principal & interest amount excludes property taxes, homeowners insurance, HOA/CDD dues, flood insurance and other property-specific costs; your actual total monthly payment will be higher.

Estimated payment includes modeled property taxes and homeowners insurance; HOA/CDD and flood insurance are excluded unless entered.

The tradeoff

More now. Less each month.

Choosing 6.375% instead of 6.875% costs about $5,959 more at closing and saves about $99 in principal and interest per month.

Estimated break-even

61 months

That’s how long the lower payment takes to make back the extra money.

Sell or refinance sooner? You may not recover the extra cost.
Keep the loan longer? The lower payment has more time to pay you back.

Points-payback context: I usually look for a simple points payback in about two to three years (24–36 months). This example’s estimated 61 months is longer than that preference.

Not sure whether paying points makes sense?

Tell me how long you expect to keep the loan. I’ll help you weigh the upfront cost against the payment.

Text About PointsCall Me
Detailed figures for each choice

These are the pricing choices shown for this scenario. Tap a choice to use it above. Other rates may be available after I review the full loan.

See this choice above
See rate / APR details

Pay $4,875 upfront for this rate.
1.625 points · $4,875 upfront rate cost

The no-points choice is an actual zero discount-point row when one is priced, otherwise the lowest rate that comes with an actual lender credit. The featured lower-rate choice costs more than zero and no more than 2.500discount points when that priced choice is available.

The choices shown are distinct priced paths for this scenario, not every rate on a lender's pricing sheet. A lender credit reduces eligible closing costs in exchange for a higher rate.

How the break-even works

Extra cash at closing ÷ monthly principal & interest savings = months to recover the extra cash.

This uses the difference between the two cash-to-close estimates, including any change in prepaid interest.

This compares principal and interest only. It does not include property taxes, homeowners insurance, mortgage insurance, inflation, prepayment, refinancing, future rate changes, or opportunity cost on the money used for points. It is a planning aid, not a guarantee. The displayed differences round the exact unrounded deltas to the nearest dollar; break-even uses the unrounded values.

See how the mortgage math fits together

How your monthly payment gets built

Principal & interest
$1,872
+ Property taxes
$416
+ Homeowners insurance
$200
= Estimated total monthly payment
$2,488

How your closing money gets built

Down payment
$100,000
+ Closing costs before credits
$12,221
+ Prepaids & initial escrows
$4,774
− Credits & deposits
$2,075
= Estimated money needed at closing
$114,920

· May change or be unavailable at commitment or closing · Not a rate lock.

Shahram Sondi, Florida mortgage broker

A note from Shahram

Your numbers. Straight answers.

Pick a rate above to see the costs. If you want help choosing, text me your numbers or a quote you already have. I’ll explain the tradeoffs. No full application needed for a quick quote.

Shahram Sondi · NMLS 186790Certified Mortgage Advisor™Originating mortgages since 2001

Text ShahramCall Shahram

Reviews & recognition

reviews
Orlando Magazine · 2026Voted #1 in “Mortgage Lender – Individual”See the winners BBB · A+ ratingAccredited BusinessBBB profile Yelp · 5.0/5Read customer reviewsYelp profile

Google rating and count update from Google Maps. BBB and Yelp ratings checked October 8, 2026.

Find your loan fit

Explore rates by loan type

Take a closer look at the loan you’re considering.

Questions about closing costs, points or your payment? Read the examples

Compare rates by credit score

Credit & pricing

Florida mortgage rates by credit score

The rate you see advertised may assume a different credit score from yours. These Conventional purchase examples keep the home price, down payment, property, loan term and lock period the same. Only the credit band changes.

Same purchase scenario, three credit bands
Credit score / scenarioLower rate
Up to 2.5 points		Upfront rate costZero discount pointsLender credit
680–699 credit score$400,000 purchase · 25% down30-year fixedPricing source effective
6.750%Note rate7.053%APR
2.239 discount points ($6,717 upfront rate cost)
7.499%Note rate7.583%APR
0 discount points + $996 lender credit

25% down ($100,000) · 680–699 credit · 30-year fixed · 30-day lock.

Approximately 360 monthly principal-and-interest payments: lower rate $1,946; zero discount points $2,097. This P&I amount excludes property taxes, homeowners insurance, HOA/CDD dues, flood insurance and other property-specific costs; your actual total monthly payment will be higher.

Illustrative Florida estimates. Rates and pricing may change and may not be available at commitment or closing. Not a loan approval, commitment to lend, Loan Estimate or rate lock.

View full assumptions and loan details for 680–699 credit score

$400,000 purchase; 25% down ($100,000); $300,000 loan; 680–699 credit; primary residence occupancy; single-family; 30-year fixed; 30-day lock.

Discount points are separate from other closing costs. A lender credit can offset eligible closing costs; zero discount points does not mean zero closing costs. Use the calculator above to explore your own scenario.

720–739 credit score$400,000 purchase · 25% down30-year fixedPricing source effective
6.375%Note rate6.681%APR
2.375 discount points ($7,125 upfront rate cost)
7.000%Note rate7.076%APR
0 discount points + $375 lender credit

25% down ($100,000) · 720–739 credit · 30-year fixed · 30-day lock.

Approximately 360 monthly principal-and-interest payments: lower rate $1,872; zero discount points $1,996. This P&I amount excludes property taxes, homeowners insurance, HOA/CDD dues, flood insurance and other property-specific costs; your actual total monthly payment will be higher.

Illustrative Florida estimates. Rates and pricing may change and may not be available at commitment or closing. Not a loan approval, commitment to lend, Loan Estimate or rate lock.

View full assumptions and loan details for 720–739 credit score

$400,000 purchase; 25% down ($100,000); $300,000 loan; 720–739 credit; primary residence occupancy; single-family; 30-year fixed; 30-day lock.

Discount points are separate from other closing costs. A lender credit can offset eligible closing costs; zero discount points does not mean zero closing costs. Use the calculator above to explore your own scenario.

780–799 credit score$400,000 purchase · 25% down30-year fixedPricing source effective
6.375%Note rate6.606%APR
1.625 discount points ($4,875 upfront rate cost)
6.875%Note rate6.950%APR
0 discount points + $1,125 lender credit

25% down ($100,000) · 780–799 credit · 30-year fixed · 30-day lock.

Approximately 360 monthly principal-and-interest payments: lower rate $1,872; zero discount points $1,971. This P&I amount excludes property taxes, homeowners insurance, HOA/CDD dues, flood insurance and other property-specific costs; your actual total monthly payment will be higher.

Illustrative Florida estimates. Rates and pricing may change and may not be available at commitment or closing. Not a loan approval, commitment to lend, Loan Estimate or rate lock.

View full assumptions and loan details for 780–799 credit score

$400,000 purchase; 25% down ($100,000); $300,000 loan; 780–799 credit; primary residence occupancy; single-family; 30-year fixed; 30-day lock.

Discount points are separate from other closing costs. A lender credit can offset eligible closing costs; zero discount points does not mean zero closing costs. Use the calculator above to explore your own scenario.

Reference examples, not statewide averages or your calculator results. The rate and the upfront cost can both change with your credit profile. Zero discount points does not mean zero closing costs.

These examples use the same pricing engine and selection rules as the calculator. They show selected options, not every available rate or product. A credit score alone does not determine eligibility or final terms.

Use your own numbers to compare the rate, APR, points, payment and estimated cash to close. No name, email, phone number or credit pull is required to use the calculator.

Compare your own credit range
Compare loan programs & example costs

Explore the loan programs

Compare Florida mortgage rates by loan program

See the tradeoff between a lower rate with an upfront cost and zero discount points. These examples are not quotes for the same borrower. Use the calculator above to explore your own numbers without sharing contact information.

Two pricing choices for each reference scenario
Program / scenarioLower rate
Up to 2.5 points		Upfront rate costZero discount pointsLender credit
Conventional$400,000 purchase · 25% down30-year fixedPricing source effective
6.375%Note rate6.606%APR
1.625 discount points ($4,875 upfront rate cost)
6.875%Note rate6.950%APR
0 discount points + $1,125 lender credit

25% down ($100,000) · 780–799 credit · 30-year fixed · 30-day lock.

Approximately 360 monthly principal-and-interest payments: lower rate $1,872; zero discount points $1,971. This P&I amount excludes property taxes, homeowners insurance, HOA/CDD dues, flood insurance and other property-specific costs; your actual total monthly payment will be higher.

Illustrative Florida estimates. Rates and pricing may change and may not be available at commitment or closing. Not a loan approval, commitment to lend, Loan Estimate or rate lock.

View full assumptions and loan details for Conventional

$400,000 purchase; 25% down ($100,000); $300,000 loan; 780–799 credit; primary residence occupancy; single-family; 30-year fixed; 30-day lock.

Discount points are separate from other closing costs. A lender credit can offset eligible closing costs; zero discount points does not mean zero closing costs. Use the calculator above to explore your own scenario.

FHA$400,000 purchase · 3.5% down30-year fixedPricing source effective
5.875%Note rate6.903%APR
2.492 discount points ($9,787 upfront rate cost)
6.499%Note rate7.281%APR
0 discount points + $196 lender credit

3.5% down ($14,000) · 780–799 credit · 30-year fixed · 30-day lock. $392,755 financed loan, including 1.75% upfront FHA mortgage insurance.

Approximately 360 monthly principal-and-interest payments: lower rate $2,323; zero discount points $2,482. This P&I amount excludes property taxes, homeowners insurance, FHA monthly mortgage insurance, HOA/CDD dues, flood insurance and other property-specific costs; your actual total monthly payment will be higher.

Illustrative Florida estimates. Rates and pricing may change and may not be available at commitment or closing. Not a loan approval, commitment to lend, Loan Estimate or rate lock.

View full assumptions and loan details for FHA

$400,000 purchase; 3.5% down ($14,000); $386,000 base loan; 780–799 credit; primary residence occupancy; single-family; 30-year fixed; 30-day lock.

The upfront FHA mortgage-insurance premium is financed into the loan, so the rate, payment and APR are calculated on the total financed loan rather than the base loan. At this 96.50% original loan-to-value, the annual premium generally continues for the 30-year mortgage term; HUD ties that to the original loan-to-value, so paying the balance down later does not shorten it.

Discount points are separate from other closing costs. A lender credit can offset eligible closing costs; zero discount points does not mean zero closing costs. Use the calculator above to explore your own scenario.

VA$500,000 purchase · 0% down30-year fixedPricing source effective
5.999%Note rate6.432%APR
1.889 discount points ($9,445 upfront rate cost)Not availableNot available

0% down ($0) · 780–799 credit · 30-year fixed · 30-day lock. $510,750 financed loan, including 2.15% VA funding fee. VA example assumes first use, non-exempt borrower and less than 5% down.

Approximately 360 monthly principal-and-interest payments: lower rate $3,062. This P&I amount excludes property taxes, homeowners insurance, HOA/CDD dues, flood insurance and other property-specific costs; your actual total monthly payment will be higher.

Illustrative Florida estimates. Rates and pricing may change and may not be available at commitment or closing. Not a loan approval, commitment to lend, Loan Estimate or rate lock.

View full assumptions and loan details for VA

$500,000 purchase; 0% down ($0); $500,000 base loan; 780–799 credit; primary residence occupancy; single-family; 30-year fixed; 30-day lock.

Calculated on a 2.15% VA funding fee — the statutory rate for an assumed first use of the benefit with 0% down, financed into the loan, so the rate, payment, points and APR are calculated on the funding-fee-financed loan. The fee rate depends on prior use of the benefit and the down payment, and exemption is verified from VA records rather than assumed.

Discount points are separate from other closing costs. A lender credit can offset eligible closing costs; zero discount points does not mean zero closing costs. Use the calculator above to explore your own scenario.

These are reference examples, not statewide averages or quotes for the same borrower. Discount points are an upfront rate cost, separate from other closing costs. A lender credit can offset eligible closing costs; zero discount points does not mean zero closing costs.

More about each program and its assumptions

Conventional mortgage rates in Florida

As of , this illustrative Florida planning example for a $400,000 purchase with 25% down ($100,000), a $300,000 loan, 780–799 credit, primary-residence occupancy, a single-family property, a 30-year fixed term, and a 30-day lock shows two featured Conventional choices. The lower-rate option (up to 2.5 points) is a 6.375% note rate and 6.606% APR, with 1.625 discount points ($4,875 upfront rate cost) and about $1,872 per month in principal and interest. The zero-discount-point option is a 6.875% note rate and 6.950% APR, with 0 discount points + $1,125 lender credit and about $1,971 per month in principal and interest.

Lower rate · Up to 2.5 points: 30-year fixed · Approximately 360 monthly principal-and-interest payments of $1,872. Zero discount points: 30-year fixed · Approximately 360 monthly principal-and-interest payments of $1,971. This P&I amount excludes property taxes, homeowners insurance, HOA/CDD dues, flood insurance and other property-specific costs; your actual total monthly payment will be higher.

Illustrative Florida estimates. Rates and pricing may change and may not be available at commitment or closing. Not a loan approval, commitment to lend, Loan Estimate or rate lock.

Explore Florida 30-year fixed mortgage rates

FHA mortgage rates in Florida

As of , this illustrative Florida planning example for a $400,000 purchase with 3.5% down ($14,000), a $386,000 base loan, 780–799 credit, primary-residence occupancy, a single-family property, a 30-year fixed term, and a 30-day lock shows two featured FHA choices. The lower-rate option (up to 2.5 points) is a 5.875% note rate and 6.903% APR, with 2.492 discount points ($9,787 upfront rate cost) and about $2,323 per month in principal and interest. The zero-discount-point option is a 6.499% note rate and 7.281% APR, with 0 discount points + $196 lender credit and about $2,482 per month in principal and interest. The upfront FHA mortgage-insurance premium is financed into the loan, so the rate, payment and APR are calculated on the total financed loan rather than the base loan. At this 96.50% original loan-to-value, the annual premium generally continues for the 30-year mortgage term; HUD ties that to the original loan-to-value, so paying the balance down later does not shorten it.

Lower rate · Up to 2.5 points: 30-year fixed · Approximately 360 monthly principal-and-interest payments of $2,323. Zero discount points: 30-year fixed · Approximately 360 monthly principal-and-interest payments of $2,482. This P&I amount excludes property taxes, homeowners insurance, FHA monthly mortgage insurance, HOA/CDD dues, flood insurance and other property-specific costs; your actual total monthly payment will be higher.

Illustrative Florida estimates. Rates and pricing may change and may not be available at commitment or closing. Not a loan approval, commitment to lend, Loan Estimate or rate lock.

Explore FHA Florida mortgage rates

VA mortgage rates in Florida

As of , this illustrative Florida planning example for a $500,000 purchase with 0% down ($0), a $500,000 base loan, 780–799 credit, primary-residence occupancy, a single-family property, a 30-year fixed term, and a 30-day lock shows two featured VA choices. The lower-rate option (up to 2.5 points) is a 5.999% note rate and 6.432% APR, with 1.889 discount points ($9,445 upfront rate cost) and about $3,062 per month in principal and interest. A zero-discount-point VA quote is not shown for this scenario: its only zero-point option carries a lender credit, and how that credit affects the APR is not yet substantiated. The lower-rate VA option is shown and its figures are complete. VA financing remains available. Request a personalized quote. Calculated on a 2.15% VA funding fee — the statutory rate for an assumed first use of the benefit with 0% down, financed into the loan, so the rate, payment, points and APR are calculated on the funding-fee-financed loan. The fee rate depends on prior use of the benefit and the down payment, and exemption is verified from VA records rather than assumed.

Lower rate · Up to 2.5 points: 30-year fixed · Approximately 360 monthly principal-and-interest payments of $3,062. This P&I amount excludes property taxes, homeowners insurance, HOA/CDD dues, flood insurance and other property-specific costs; your actual total monthly payment will be higher.

Illustrative Florida estimates. Rates and pricing may change and may not be available at commitment or closing. Not a loan approval, commitment to lend, Loan Estimate or rate lock.

Explore VA Florida mortgage rates

Where these numbers come from

These reference examples use the same imported lender pricing and calculations as the calculator above. Mortgage Expert is a Florida mortgage broker.

The lower-rate option is the lowest eligible rate in the imported pricing with an upfront rate cost of no more than 2.5 discount points. The zero-discount-point option uses an exact-zero row when available; otherwise, it uses the lowest eligible rate with a lender credit. The two choices may come from different lenders.

Each example states its purchase price, down payment, credit profile, loan term and lock period. These are reference scenarios, not statewide averages. Your pricing depends on your scenario, eligibility and the pricing available when you lock.

Calculate your own scenario

What’s moving the market

Mortgage Market Update

Updated

Analysis by Shahram Sondi

Certified Mortgage Advisor™ · NMLS #186790

Friday’s November 6 report from Mortgage Market Guide showed stronger hiring without a big initial reaction in mortgage bonds. Employers added 165,000 jobs in October, unemployment was 4.1%, and earlier job gains were revised higher. For Florida homebuyers, that muted market reaction was encouraging. Next week brings consumer inflation on November 10, wholesale inflation on November 13 and Treasury auctions. Bond markets are scheduled to close November 11 for Veterans Day. Those reports could move mortgage pricing in either direction.

Read the full market update

My take: if you’re closing in the next couple of weeks, I’d lean toward locking a rate and payment that fit your budget. If you have more time and can handle the risk of rates moving higher, we may have room to keep watching before locking. Floating means your rate can still change. Text me your closing date and current offer. I’ll help you compare the rate, payment and closing costs, then decide whether waiting makes sense for you.

In their words · Google reviews

What a buyer said about the rate and the guidance.

The rate

“best rate compared to other lenders we spoke with”
- Rachel Graefe, Google review
Read the full Google reviews

Individual experiences vary. Your available rate and loan outcome depend on your circumstances.

More tools for your mortgage decision

Keep comparing

Use the rate as a starting point.

The useful next step depends on whether you need a program comparison, a payment estimate, or help reading the cost of an offer.

Compare rate paths

Model the decision

Understand the numbers

Mortgage costs.
Plain answers. Simple examples.

Open a question for a short answer, then a simple example.

Examples are illustrations, not current rates, quotes or actual borrower results. Your costs depend on the property, loan and verified details.

Is my down payment all the cash I need to buy a home?

No. Your down payment goes toward the home price. Closing costs pay for the loan and purchase process. Cash to close is the amount still due after your deposit, allowed credits and other adjustments are counted. It can include prepaid bills and money to start an escrow account.

Practical example (illustration)

$20,000 down + $10,000 in closing costs, including prepaids and escrow funding − a $5,000 deposit − a $3,000 allowed seller credit = $22,000 still due. This example has no other adjustments; actual figures will differ.

Ask for the full cash-to-close breakdown, then keep moving costs and emergency savings separate.

What are discount points in dollars?

Discount points are money paid upfront to get a lower interest rate. One point equals 1% of the loan amount, not the home price. A point does not buy a fixed amount of rate reduction.

Practical example (illustration)

On a $300,000 loan, one point costs $3,000. Half a point costs $1,500. The actual rate reduction depends on the available offer.

Compare the dollar cost and payment savings together.

Does zero discount points mean zero closing costs?

No. Zero discount points means you are not paying that upfront charge to lower the rate. Other loan, title, government and prepaid costs may remain. A no-closing-cost offer needs a separate explanation of which costs are covered and how.

Practical example (illustration)

An estimate can show $0 in discount points and still list appraisal, title, recording and insurance costs. Read the full cost breakdown rather than stopping at the points line.

If a credit covers costs, ask whether it changes your rate. Do not assume every charge is covered.

What should I include besides principal and interest?

Principal repays the loan; interest is the borrowing charge. Also budget for property taxes, homeowners insurance, mortgage insurance if required, and any flood insurance or homeowners association (HOA) fees. Some bills may be paid separately from your mortgage payment.

Practical example (illustration)

If taxes are $500 a month, homeowners insurance is $250 and association dues are $100, those items add $850 to your monthly budget before any mortgage insurance or other costs.

Avoid counting the same bill twice if it is already included in escrow. Keep repairs, utilities and special assessments in your broader home budget.

More questions by topic

Money you need at closing
Do I pay my earnest-money deposit again at closing?

Normally, no. Earnest money is the deposit paid under your purchase contract. If the purchase closes and the deposit is credited to you, it counts toward the money you already paid. Make sure it appears correctly on your Closing Disclosure.

Practical example (illustration)

If your total required funds are $30,000 and a $5,000 deposit has already been credited, the remaining amount is $25,000, assuming nothing else changes.

A deposit reduces what remains due; it does not reduce the price of the home. Refund rights depend on your contract.

Can a seller credit pay my down payment?

Do not count on it. A seller credit helps pay allowed closing costs. For a Fannie Mae conventional loan, it cannot cover your down payment or the savings you must keep after closing. The allowed amount depends on the loan and purchase, and unused credit is not automatically cash you can keep.

Practical example (illustration)

A seller agrees to a $6,000 credit. If only $4,500 can be used under your loan's rules and actual costs, do not budget for a $1,500 refund. Have the lender and closing agent review it before closing.

Confirm the usable credit before you agree to the purchase terms; other loan programs have their own rules.

Why do I pay insurance and interest before my first mortgage payment?

Some bills are paid ahead of time at closing. These are called prepaids. They may include homeowners insurance and interest for the days before your first regular payment period. They are separate from fees for services such as an appraisal or title work.

Practical example (illustration)

If daily prepaid interest were $50 and 10 days were collected, that line would be $500. Moving the closing date can change the number of days and the cash needed. This is arithmetic, not a loan quote.

Compare the dates and insurance assumptions when two estimates show different prepaid costs.

What is escrow, and why can my payment change with a fixed rate?

A mortgage escrow account holds money for bills such as property taxes and homeowners insurance. You pay into it, and your servicer pays those bills. A fixed interest rate does not freeze your tax bill or insurance premium, so your total payment can change.

Practical example (illustration)

If taxes and insurance rise by $1,200 a year, that is $100 more per month to budget. If the escrow account is short of money, catching up could add more.

Without escrow, those bills still exist—you pay them directly. Check what each estimate includes.

Do I have to put 20% down?

No. Some loan programs allow a smaller down payment if you qualify. A smaller down payment leaves more savings available but means borrowing more, and it may add mortgage insurance. The right comparison includes your payment, closing costs and savings left afterward.

Practical example (illustration)

Putting another $10,000 toward the home means borrowing $10,000 less, before financed fees. It also leaves $10,000 less in your bank account for repairs or other needs.

Compare eligible options using the same home and your actual budget before choosing a down payment.

Rate, APR, points and credits
What is the difference between the interest rate and APR?

The interest rate is the charge for borrowing the loan balance. APR includes the rate plus certain loan costs, expressed as a yearly percentage. APR helps compare borrowing costs, but it is not your monthly payment and does not include every dollar needed at closing.

Practical example (illustration)

Two loans can have the same interest rate but different APRs if one charges more loan fees. Compare the same loan type and term, then check the fees and cash needed too.

A lower APR alone does not tell you which loan costs less over the time you expect to keep it.

How does a lender credit help with closing costs?

A lender credit covers some allowed closing costs. A credit tied to pricing usually comes with a higher interest rate than the same lender's comparable option without that credit. Some credits have other reasons, so ask what you are exchanging for it.

Practical example (illustration)

A $2,000 credit applied to $8,000 of eligible costs leaves $6,000 of those costs to pay. Your down payment and other amounts still need to be counted.

Compare the cash saved now with the extra cost over the time you expect to keep the loan.

How do I decide whether paying points is worth it?

Start with how long you expect to keep this loan. Divide the extra upfront cost by the monthly savings for a simple cost-recovery estimate. Then compare total costs over your likely timeline, including the cash you would keep by choosing the other option.

Practical example (illustration)

An extra $3,000 upfront divided by $60 in monthly savings is 50 months. If you sell or refinance after 24 months, those savings total $1,440—less than $3,000.

This shortcut leaves out differences in the remaining loan balance, tax effects and what your savings could earn. It does not predict a future refinance.

Your full monthly home cost
What is PMI, and does it protect my home?

Private mortgage insurance, or PMI, protects the lender if you do not repay the loan. It is often required on a conventional loan with less than 20% down. It does not repair your home or replace homeowners insurance. Its cost depends on the loan and borrower.

Practical example (illustration)

If a quote lists $90 a month in PMI, that adds $1,080 a year while that charge applies. It is separate from the insurance that covers damage to your home.

Ask how PMI is paid and when that particular loan may qualify for cancellation. Do not assume it lasts for the full loan term.

Is FHA mortgage insurance the same as conventional PMI?

No. FHA has its own mortgage insurance rules and costs. A typical FHA purchase loan has an upfront insurance charge and a yearly insurance charge usually paid monthly. A lower FHA interest rate does not by itself mean a lower total cost.

Practical example (illustration)

An FHA option could have a lower interest rate yet cost more each month after mortgage insurance is added. Compare both options for the same home, down payment and borrower before deciding.

If the upfront insurance charge is added to your loan, count it in what you borrow. Ask how long the monthly insurance charge will last.

Can I use the seller's Florida property-tax bill for my budget?

Do not assume it will be your bill. The seller may have tax breaks that do not carry over to you. After a sale, the county generally resets the home's value for tax purposes for the following year. Ask the county property appraiser for an estimate for your purchase.

Practical example (illustration)

If you budget $3,600 a year but your new estimate is $6,000, the difference is $2,400 a year, or $200 a month. That can change what feels affordable even when the mortgage rate stays the same.

Check your own homestead eligibility and any separate assessments. An advertised tax figure is not a personalized tax estimate.

Does homeowners insurance include flood and wind coverage?

Check the actual policy. Standard homeowners insurance generally excludes flood damage. Wind coverage may be included or may need a separate policy. Coverage, deductibles and lender requirements can change the total cost, so get quotes for the specific Florida property early.

Practical example (illustration)

A $3,000 yearly homeowners premium plus a separate $900 flood premium totals $3,900 a year, or $325 a month to budget. Add any separate wind policy too. These are illustrations, not insurance quotes.

Ask the insurance agent what is covered, what is excluded and how much you would pay toward a claim.

Using the estimate and taking the next step
Why can my mortgage rate differ from the example?

Your credit, down payment, loan amount, program, term and property details affect pricing. The market and lock period matter too. The examples here describe particular scenarios; they are not an average rate for every Florida borrower.

Practical example (illustration)

A buyer choosing a different down payment or loan term may see a different rate and cost. Compare offers using the same details and the same pricing date before judging which one fits.

Taxes and insurance also change your budget, even when the interest rate does not change.

How often are these rates updated?

Pricing is normally updated once each business day, around noon Eastern. Weekends normally use the most recently published Friday pricing. Holidays, lender availability or operational timing can delay an update. Check the pricing timestamp on this page; this is imported pricing, not a live market feed.

Practical example (illustration)

On a Monday morning, the last published pricing may still be from Friday. A number you saw earlier is not automatically available when you are ready to lock.

If current pricing is unavailable, request a scenario review rather than treating an older example as an offer.

Do I need an application or a credit check to use this calculator?

No. You can explore this public calculator without giving your name, email or phone number, and using it does not pull your credit. The result is an estimate. Pre-approval is a separate process that may require an application, credit authorization and documents.

Practical example (illustration)

You can change the home price and down payment to compare estimates before contacting anyone. Choosing to ask for a review is a separate next step; the calculator does not approve you for a loan.

Use an estimated credit range for planning. A lender must verify the details before final terms can be set.

Does seeing a rate here lock it or guarantee approval?

No. A calculator estimate is not a rate lock, loan approval or commitment to lend. A lock holds agreed pricing for a set period under stated conditions. Changes to the application or a delayed closing can affect it; an extension may cost money.

Practical example (illustration)

If your closing moves beyond the lock's expiration date, ask about extension options and costs before it expires. Taking a screenshot of a calculator result does not create a lock.

Confirm the lock status, expiration date and conditions with the lender, and check the Loan Estimate.

Put the answers to work.

Try your numbers in the calculator, or go deeper on the cost you are comparing.

· Illustrative Florida estimate, not a commitment to lend or a rate lock.

Calculated from the latest available imported wholesale pricing for Florida. Not a real-time market feed, not an approval, not a commitment to lend and not a rate lock. Estimates assume a single-family primary residence in Florida on a 30-day lock unless the scenario states otherwise.

Mortgage question or quick quote?

Text Shahram

No application needed to start.