Florida mortgage rates, priced three ways.

• Credit score
  LLPA brackets at 620, 640, 660, 680, 700, 720, 740, 760+. 740+ unlocks the strongest pricing tier on most matrices.
• LTV / down payment
  Higher LTV (smaller down) = higher LLPAs. Crosses with credit on the matrix to produce combined adjustment.
• Loan type
  Conventional, FHA, VA, jumbo each have different rate sheets. APR also differs because MIP/MI structures differ.
• Property type
  Single-family, condo, manufactured, multi-unit — each has its own LLPAs above defined LTVs.
• Occupancy
  Primary residence has the lowest LLPA. Second home modest. Investment property carries the largest occupancy LLPA.
• Loan amount
  Above the FHFA conforming limit ($832,750 baseline 2026), the loan moves to jumbo or high-balance — different pricing rules.
• Points / credits
  Borrower's choice: pay points to lower rate, accept credits for higher rate. Hold-period determines which wins.
• Lock timing
  Lock period (15/30/45/60 days) adds to or subtracts from the rate. Longer locks = slightly higher rate.

• 1
  Interest rate

  What drives your monthly P&I payment. The headline number — but only one of several.
• 2
  APR

  Adds finance charges (points, certain lender fees, mortgage insurance) to the rate. Useful for cross-lender comparison when assumptions match.
• 3
  Points

  Upfront payments that buy down the rate. 1 point = 1% of loan amount. Each point typically buys ~0.25% rate reduction.
• 4
  Lender credit

  The opposite of points. Lender raises rate slightly in exchange for cash applied to closing costs.
• 5
  Cash to close

  Total out-of-pocket at closing — down payment + closing costs + prepaids, minus seller and lender credits.

Comparing rate alone misses the picture. Always look at all five together on the Loan Estimate.

Run the math against your real hold expectation, not an aspirational one. Most loans don't reach 7-year break-even.

• Lock now

  Pricing certainty for the lock period (15/30/45/60 days). Standard for accepted contracts. Rate movement after lock is the lender's risk.

• Float

  No lock — pricing moves with the market until you decide to lock. Used when bond market clearly trending lower. Risk: rates can rise faster than fall.

• Float-down option

  Lender feature that lets you re-price down if rates drop by a defined threshold (commonly 0.25%+) after lock. Confirm before locking — can't be added later.

• Lock extension

  If the file slips past the lock expiration, an extension (5/10/15 days) usually carries a small fee. Plan for buffer; extensions stack costs.

Lock policies vary by lender. Always confirm float-down terms and extension fees in writing before locking.

Two borrowers with the same rate can have payments that differ by hundreds per month. Florida-specific factors swing the non-P&I portion of the payment more than rate movement does in most cases.

• 1
  Principal & interest

  Driven by rate. The headline number.
• 2
  Property taxes

  County millage. Save Our Homes doesn't transfer to new owners — assessment often resets at purchase.
• 3
  Homeowners insurance

  Florida premiums move fast. Roof age and 4-point inspection on older homes affect pricing and acceptance.
• 4
  Flood insurance

  Required in FEMA SFHA zones. Florida zones change — confirm before writing.
• 5
  HOA dues

  Common across Central Florida master-planned communities. Counts toward DTI.
• 6
  CDD assessment

  Common in newer master-planned neighborhoods. Hits the tax bill, separate from HOA.
• 7
  MI / PMI

  Conventional with <20% down → PMI. FHA → MIP. VA → no MI (funding fee replaces it).

On a Florida master-planned condo, the non-P&I portion can be 35–50% of the full payment. Run the full PITI before locking — the rate is one of several variables.

Neither always wins. The best structure depends on the file, the day's market, points, lender credit, and total cash to close. Compare specific Loan Estimates from at least two sources before locking.