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Mortgage rates in Florida

They’ve been slightly higher than the national average since 1999.

Editor's choice: Rocket Mortgage(NMLS #3030)

  • Choose this lender for fast turnaround times
  • Choose another lender if you want to meet your loan officer in person
  • A good option for borrowers who prefer a fully online application process
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Rates in the Sunshine State average 4.886% for a 30-year conventional loan, while government-insured loans average 4.740%. And interest rates are expected to hover around 4% in the coming year.

Compare mortgage lenders and brokers

Compare these lenders and lender marketplaces by the type of home loan you're searching for, state availability and minimum credit score (for a conventional loan). Select See rates to provide the company with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
(NMLS #1121636)
Conventional, Home equity, Refinance
Not available in: AK, HI, MO, NH, NM, NY, SD, WV
No hidden fees, multiple loan terms, and member discounts available.
(NMLS #330511)
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
Online preapproval in minutes and no origination fees with this direct lender.
Axos Bank
(NMLS #524995)
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Streamline your mortgage from quote to final payment — all from your computer or phone.
(NMLS #1136)
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
Connect with vetted home loan lenders quickly through this online marketplace.

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How much do Florida rates vary by loan?

Average Florida rates for 30-year mortgages range a bit from 4.606% to 4.886% in 2018. Lenders weigh several variables when calculating interest rates, including your loan term and type.

2018 average rates in Florida by loan type

Loan type15-year average rate30-year average rate

Based on data from

For example, a $205,000 conventional loan with a 30-year loan term has an average rate of 4.886%. That may translate to a monthly mortgage payment of $1,086, excluding taxes, fees and other costs specific to your loan. If you opted for a shorter 15-year loan term, your mortgage payment might jump to $1,553, but you could get a lower interest rate of 4.362%. That translates to a potential savings of $111,361 in interest payments over the life of the loan.

Florida rates may hopscotch around the 4% mark and stay there in 2020. Mortgage rates in Florida tend to come in a hair higher than the national average, especially since 1999. Housing agencies nationwide, such as the Mortgage Bankers Association and Wells Fargo, predict 30-year rates to remain in the high 3% range, with predictions as high as 3.9%. If Florida keeps up its pattern, its rates should perform slightly higher than the national average and hover around the 4% mark.

Compare mortgage rates throughout Florida

Mortgage rates depend on where you own a home in Florida. It’s a diverse state, and each city and community has its own varying home prices.

We used data from the Home Mortgage Disclosure Act to figure out what the average 30-year fixed rate mortgage might run you in metropolitan areas throughout Florida. The estimated monthly cost does not account for taxes, fees, home insurance or other costs specific to your mortgage.

Metropolitan statistical area (MSA)Average mortgage rateMedian loan amountEstimated monthly cost
Cape Coral-Fort Myers4.849%$205,000$1,080
Crestview-Fort Walton Beach-Destin4.604%$245,000$1,260
Deltona-Daytona Beach-Ormond Beach4.888%$185,000$980
Miami MSA (Broward County, FL)4.898%$265,000$1,410
Homosassa Springs4.929%$135,000$720
Lakeland-Winter Haven4.934%$185,000$990
Miami MSA (Miami-Dade County, FL)4.981%$275,000$1,470
Naples-Marco Island4.698%$275,000$1,430
North Port-Sarasota-Bradenton4.774%$225,000$1,180
Palm Bay MSA (Brevard County, FL)4.843%$195,000$1,030
Panama City4.720%$205,000$1,070
Pensacola-Ferry Pass-Brent4.698%$195,000$1,010
Port St. Lucie4.869%$205,000$1,080
Punta Gorda4.830%$175,000$920
Sebastian-Vero Beach4.797%$195,000$1,020
Sebring-Avon Park4.889%$125,000$660
Tampa-St. Petersburg-Clearwater4.841%$205,000$1,080
The Villages4.706%$195,000$1,010
Miami MSA (Palm Beach County, FL)4.839%$255,000$1,340

Based on data from

How to get the best mortgage rate in Florida

Aside from a good borrowing profile, there are a few more things you can do to get a good mortgage rate in Florida.

  1. Find the right loan product. Lenders offer different loan programs, which come with a specific interest rate. Find out what types of loans you qualify for with the most competitive rate.
  2. Compare interest rates. Your mortgage rate for the same loan program may vary from lender to lender. Shop around to see if you can get a better offer.
  3. Calculate closing costs. Some lenders may offer a lower rate, but charge higher closing costs and vice versa. In Florida, closing costs can range from 1.86% to 2.79% in Florida. Compare each lender’s closing costs and interest rates to make an informed decision.

Historical mortgage interest rates in Florida

Bottom line

Florida’s mortgage rates have come in slightly higher than the national average for many years, and housing authorities predict that rates will stay around the same 4% level. Compare loan programs and lenders to find one that best fits your homeownership goals.

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