Florida Home Loans & Mortgage Rates
The market is shifting in buyers' favor. More choices, more leverage, and some of the strongest DPA programs in the country.
Median Price
$405,000
YoY Change
-1.2%
Days on Market
55 days
Market
5.2 months
Florida’s housing market is shifting in buyers’ favor for the first time in years, and that changes the mortgage conversation completely.
After peaking near $430,000 in spring 2024, the statewide median single-family home price has settled to around $405,000 as of early 2026. Inventory has climbed to a 5.2-month supply, homes are sitting on the market longer, and sellers are negotiating on price and concessions in ways they haven’t since before the pandemic.
What does that mean if you’re looking to buy? It means more choices, more leverage, and more room to find the right loan for your situation. Whether you’re a first-time buyer eyeing a starter home in Jacksonville, a veteran using your VA benefit in Tampa, or an investor looking at rental properties in Orlando, the combination of softening prices and strong down payment assistance programs makes Florida one of the more accessible markets in the country right now.
Mpire Direct is licensed in all 67 Florida counties. Below you’ll find county-specific loan limits, the state’s best down payment assistance programs, closing cost breakdowns, and everything else you need to make a smart financing decision in Florida.
2026 Loan Limit Takeaways
Most Florida counties share the standard FHA floor of $541,287 for a single-family home. The South Florida tri-county area (Miami-Dade, Broward, and Palm Beach) gets a bump to $667,000 reflecting higher home values. Collier County (Naples area) comes in at $764,750. And Monroe County (the Florida Keys) is the state’s only true high-cost area at $990,150 for both FHA and conforming limits.
If you need financing above these limits, a jumbo loan is the path forward. Mpire Direct offers jumbo programs in all Florida counties.
Down Payment Assistance Notes
All Florida Housing programs require you to work with an approved lender. Not every lender participates in these programs, so ask upfront. Income and purchase price limits vary by county and are updated periodically. Homebuyer education (online or in-person through a HUD-approved agency) is required for all programs. Programs are subject to funding availability and can open and close throughout the year.
Many Florida counties and cities also offer their own local DPA programs on top of the state options. Notable local programs include Jacksonville’s Head Start to Home Ownership (H2H), Orange County’s down payment assistance for income-eligible buyers (up to $70,000 for very low-income), Hillsborough County’s Home Sweet Home program, and Miami-Dade’s housing assistance through their Housing Finance Authority.
Closing Costs in Florida
Florida has a few closing cost quirks that catch buyers off guard if they’re coming from another state.
Documentary Stamp Tax (Doc Stamps): Florida charges a transfer tax on deeds at $0.70 per $100 of the purchase price. On a $400,000 home, that’s $2,800. The seller typically pays this, though it’s negotiable. Miami-Dade County is the exception: single-family residences pay $0.60 per $100, but all other property types pay $1.05 per $100 (the base rate plus a $0.45 county surtax).
Doc Stamps on the Note: Buyers pay a separate documentary stamp tax on the mortgage note at $0.35 per $100 of the loan amount. On a $380,000 FHA loan, that’s $1,330. This is a buyer closing cost in every Florida transaction.
Intangible Tax: Florida charges 0.2% of the mortgage amount (that’s $0.20 per $100) as an intangible tax on the mortgage. On that same $380,000 loan, it adds $760 to your closing costs. Combined with the note doc stamps, Florida buyers face about $2,090 in state-specific taxes on a $380,000 mortgage before any other closing costs.
No State Income Tax: Florida has no state income tax. This is a major factor for buyers relocating from high-tax states and often offsets the state-specific closing costs over time.
Title Insurance: In most Florida counties, it’s customary for the seller to pay for the owner’s title insurance policy. The buyer pays for the lender’s title policy. This convention varies in Miami-Dade and Broward counties, where the buyer sometimes pays for both. Make sure your contract spells out who’s paying for what.
Estimated Total Buyer Closing Costs: On a $400,000 purchase with a $380,000 mortgage, expect approximately $8,000-$12,000 in total buyer closing costs (including doc stamps on note, intangible tax, lender fees, title insurance, prepaid taxes and insurance, and recording fees). That’s roughly 2-3% of the purchase price, which is typical for Florida.
Property Taxes in Florida
Florida’s average effective property tax rate runs about 0.80-0.97% of assessed value, which is slightly below the national average. But rates vary dramatically by county.
Highest effective rates: St. Lucie County (1.07%), Broward County (1.00%), Alachua County (0.93%)
Lowest effective rates: Walton County (0.53%), Monroe County (0.56%), Collier County (0.57%)
On a $400,000 home, you’d pay roughly $3,200-$3,900 per year at the statewide average, but as much as $4,280 in St. Lucie County or as little as $2,120 in Walton County.
Homestead Exemption: Florida’s homestead exemption is one of the most valuable property tax benefits in the country. If the property is your primary residence, you can exempt up to $50,000+ from your taxable value (the exact amount is now inflation-adjusted annually following the passage of Amendment 5 in November 2024). For 2025, the total exemption was $50,722. You must file with your county property appraiser by March 1 of the year you want the exemption to take effect.
Save Our Homes Cap: Once you have a homestead exemption, Florida’s Save Our Homes provision caps your annual assessed value increase at 3% or the rate of inflation, whichever is lower. This protects long-term homeowners from sudden tax spikes when property values surge. The sooner you file for homestead, the sooner your cap starts protecting you.
USDA Loan Eligibility in Florida
Florida has significant USDA-eligible territory, especially in rural and suburban areas outside the major metros. Counties with substantial USDA eligibility include: Baker, Bradford, Calhoun, Columbia, DeSoto, Dixie, Flagler (portions), Franklin, Gadsden, Gilchrist, Glades, Gulf, Hamilton, Hardee, Hendry, Hernando (portions), Highlands, Holmes, Jackson, Jefferson, Lafayette, Levy, Liberty, Madison, Marion (portions), Nassau (portions), Okeechobee, Putnam, Sumter (portions), Suwannee, Taylor, Union, Wakulla, Walton (portions), and Washington.
Even around major metros, suburban fringes often qualify. Areas on the outskirts of Jacksonville, Tampa, Orlando, and Gainesville have pockets of USDA eligibility that surprise a lot of buyers.
A USDA loan means zero down payment and competitive interest rates. If you’re flexible on location, it’s worth checking the USDA eligibility map before assuming you need a down payment.
FL Loan Limits by County
2026 FHA and conforming loan limits for major Florida counties.
| County | FHA Limit (1-unit) | Conforming Limit | High-Cost |
|---|---|---|---|
| Alachua | $541,287 | $832,750 | No |
| Bay | $541,287 | $832,750 | No |
| Brevard | $541,287 | $832,750 | No |
| Broward | $667,000 | $832,750 | No |
| Charlotte | $541,287 | $832,750 | No |
| Citrus | $541,287 | $832,750 | No |
| Clay | $541,287 | $832,750 | No |
| Collier | $764,750 | $832,750 | No |
| Duval | $541,287 | $832,750 | No |
| Escambia | $541,287 | $832,750 | No |
| Hernando | $541,287 | $832,750 | No |
| Hillsborough | $541,287 | $832,750 | No |
| Indian River | $541,287 | $832,750 | No |
| Lake | $541,287 | $832,750 | No |
| Lee | $541,287 | $832,750 | No |
Down Payment Assistance in Florida
Programs from Florida Housing Finance Corporation and local agencies.
Florida Hometown Heroes
Deferred Loan
Florida Hometown Heroes
Florida's flagship assistance program for eligible workforce occupations including teachers, healthcare workers, first responders, law enforcement, veterans, and many other community-serving roles. Provides a 30-year, 0% interest deferred second mortgage for down payment and closing costs. No monthly payments required. Repaid when you sell, refinance, or pay off the first mortgage. First-time buyers only (haven't owned in past 3 years). Must complete homebuyer education. Minimum 640 credit score typically required.
Amount
Up to 5% of first mortgage, max $35,000
Income Limit
County-specific, based on AMI
Eligible Loans
FHA, VA, USDA, Conventional
Florida Assist (FL Assist)
Deferred Loan
Florida Assist (FL Assist)
A 0% interest, non-amortizing second mortgage with no monthly payments. The $10,000 can be used for down payment and closing costs. Repayment is deferred until you sell, refinance, transfer title, or the property is no longer your primary residence. Must be paired with a Florida Housing first mortgage loan through an approved lender. First-time buyer requirement applies (3-year lookback) unless purchasing in a targeted area or you're a qualified veteran.
Amount
Up to $10,000
Income Limit
County-specific income and purchase price limits
Eligible Loans
FHA, VA, USDA
HFA Preferred Grant
Forgivable Loan
HFA Preferred Grant
Down payment and closing cost assistance structured as a forgivable second mortgage. The amount (3%, 4%, or 5%) depends on your income and the county you're buying in. Forgiven at 20% per year over five years, meaning it's fully forgiven if you stay in the home for five years. Must pair with a Florida Housing conventional first mortgage. First-time buyer requirement with standard exceptions.
Amount
3%, 4%, or 5% of first mortgage
Income Limit
County-specific
Eligible Loans
Conventional
HFA Advantage PLUS
Deferred Loan
HFA Advantage PLUS
A 0% interest deferred second mortgage of up to $8,000 for down payment and closing costs. Forgiven at 20% per year over five years. Must pair with a Florida Housing conventional first mortgage through an approved lender.
Amount
Up to $8,000
Income Limit
County-specific
Eligible Loans
Conventional
Florida Homeownership Loan Program (FL HLP)
Amortizing Loan
Florida Homeownership Loan Program (FL HLP)
A second mortgage of up to $10,000 at 3% interest with a 15-year repayment term. Unlike the deferred programs, this one has a monthly payment (roughly $69/month on the full $10,000). Best for buyers who need more than the grant programs offer and can handle a small additional payment. Pairs with Florida Housing first mortgage products.
Amount
Up to $10,000
Income Limit
County-specific
Eligible Loans
FHA, VA, USDA, Conventional
Salute Our Soldiers
Deferred Loan
Salute Our Soldiers
Specifically for active-duty military, veterans (with or without VA eligibility), and surviving spouses. Provides up to $10,000 as a 0% interest deferred second mortgage. Same repayment terms as FL Assist. Can be paired with VA loans for a true zero-down purchase with closing cost coverage.
Amount
Up to $10,000
Income Limit
County-specific
Eligible Loans
FHA, VA, Conventional
Closing Costs & Taxes in Florida
Transfer Taxes
Documentary stamps on deed at $0.70 per $100 of purchase price (seller typically pays). Separate doc stamps on mortgage note at $0.35 per $100 of loan amount (buyer pays). Miami-Dade has different rates for non-single-family properties.
Closing Notes
Intangible tax of 0.2% of mortgage amount. Title company state (no attorney required). Buyer typically pays lender's title policy; seller pays owner's policy in most counties. Budget 2-3% of purchase price for total buyer closing costs.
Property Tax Rate
State average: 0.80-0.97%
Up to $50,000+ exemption on primary residence (inflation-adjusted annually since Amendment 5 in Nov 2024). Save Our Homes caps annual assessed value increase at 3% or inflation.
USDA Eligible Areas in Florida
Florida has significant USDA-eligible territory in rural and suburban areas outside major metros. Counties with substantial eligibility include Baker, Bradford, Columbia, DeSoto, Flagler (portions), Hernando (portions), Highlands, Marion (portions), Nassau (portions), Okeechobee, Putnam, Sumter (portions), Walton (portions), and dozens more. Even suburban fringes around Jacksonville, Tampa, Orlando, and Gainesville have pockets of eligibility.
Check USDA eligibility map →Florida Mortgage FAQ
What are the current mortgage rates in Florida?
Mortgage rates in Florida track national averages since they're set by federal markets, not state-level factors. As of early 2026, 30-year fixed rates are hovering above 6%. Your actual rate depends on your credit score, down payment, loan type, and the property itself. FHA and VA loans sometimes offer slightly lower rates than conventional. The best way to know your rate is to get pre-approved with a lender who can pull your specific numbers.
How much do I need for a down payment on a Florida home?
Much less than most people think. FHA loans require 3.5% down (about $14,175 on Florida's $405,000 median home). Conventional loans start at 3% down ($12,150). VA and USDA loans require zero down payment. And Florida's down payment assistance programs like Hometown Heroes can cover up to $35,000 of your upfront costs. Between low-down-payment loans and state assistance, many Florida buyers close with $5,000 or less out of pocket.
What credit score do I need to buy a house in Florida?
FHA loans are available with credit scores as low as 580 (with 3.5% down) or even 500 (with 10% down). Conventional loans typically require 620 or higher. VA loans have no official minimum, though most lenders want 580-620. Florida Housing's DPA programs generally require a 640 minimum. If your score needs work, even a few months of targeted credit improvement can make a meaningful difference in your rate and eligibility.
Is Florida a good state to buy a home in 2026?
The market conditions are more buyer-friendly than they've been since before the pandemic. Prices have pulled back from their 2024 peaks, inventory is rising, homes are sitting longer, and sellers are making concessions. Combined with no state income tax, strong DPA programs, and a wide range of price points across the state, Florida offers real opportunity for buyers who are ready to act. The biggest headwinds are elevated mortgage rates and rising home insurance costs, so factor both into your monthly budget.
How much are closing costs in Florida?
Buyers should budget 2-3% of the purchase price for closing costs. On a $400,000 home, that's roughly $8,000-$12,000. Florida has some state-specific costs other states don't have, including documentary stamp tax on your mortgage note ($0.35 per $100 of loan amount) and intangible tax (0.2% of loan amount). These add approximately $2,000-$2,500 on a typical loan. Some of these costs can be covered by Florida Housing's DPA programs or negotiated as seller concessions.
What is Florida's homestead exemption and how do I get it?
Florida's homestead exemption removes over $50,000 from your property's taxable value if it's your primary residence. It also triggers the Save Our Homes cap, which limits your annual assessed value increase to 3% or inflation. File with your county property appraiser by March 1 of the year you want it to start. It's free to file and it's one of the most valuable tax protections available to Florida homeowners. Don't skip it.
Can I use a VA loan in Florida?
Absolutely. Florida has one of the largest veteran populations in the country, and VA loans work in all 67 counties. VA loans offer zero down payment, no private mortgage insurance, and competitive rates. In most Florida counties, you can finance up to $832,750 with no down payment (the conforming limit). Combined with programs like Salute Our Soldiers that cover closing costs, eligible veterans can often purchase a home with little to nothing out of pocket.
Are there first-time homebuyer programs in Florida?
Florida has some of the best first-time buyer programs in the country. The Florida Hometown Heroes program alone provides up to $35,000 toward down payment and closing costs for eligible workers. FL Assist offers $10,000 as a deferred, zero-interest loan. The HFA Preferred Grant provides 3-5% of your loan amount that's forgiven over five years. Plus, many cities and counties offer their own local programs on top of the state options. Stacking state and local programs together, some Florida buyers bring less than $1,000 to the closing table.