Florida Mortgage Rates

Realtime Current Purchase & Refinance Mortgage Interest Rate Index

Stay updated on the latest Florida mortgage rates with our real-time interest rate index. Get instant access to accurate and reliable data from reliable service providers MBS Live and Mortgage News Daily. Discover the best mortgage rates for your needs and make informed decisions for your home financing.
 

Primary Mortgage Products — Key Characteristics

30-Year Fixed-Rate Mortgage

Interest rate and monthly principal-and-interest payment remain unchanged for the full 30-year term, providing long-run payment stability.

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15-Year Fixed-Rate Mortgage

Requires a higher monthly payment than a 30-year loan but incurs less total interest, allowing faster equity build-up.

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30-Year FHA Mortgage

Insured by the Federal Housing Administration. Permits lower minimum down payments and credit scores than most conventional programs. Up-front and annual mortgage-insurance premiums apply.

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30-Year Fixed-Rate Jumbo Mortgage

Intended for loan amounts above conforming limits set by the Federal Housing Finance Agency. Often involves higher reserve requirements and more stringent underwriting.

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5/1 Adjustable-Rate Mortgage (ARM)

Features a fixed interest rate for the first five years, then adjusts annually based on a published index plus a margin. Caps restrict rate changes per adjustment and over the loan’s life.

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30-Year VA Mortgage

Available to eligible service members, veterans, and certain surviving spouses. Backed by the U.S. Department of Veterans Affairs and typically requires no down payment or monthly mortgage insurance.

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Key Terms and Important Concepts

• Annual Percentage Rate (APR): A measure that combines the note rate with certain closing costs, expressed as a yearly rate.

• Rate Lock: A lender’s commitment to honor a set rate for a specified period, protecting the borrower from market fluctuations during processing.

• Mortgage Insurance: Premiums that protect lenders or guarantors against borrower default. Applicable to conventional loans with loan-to-value ratios above 80 % and all FHA loans.

• Loan-to-Value Ratio (LTV): The loan amount divided by the appraised property value or purchase price, whichever is lower.

• Debt-to-Income Ratio (DTI): A borrower’s total monthly debt payments divided by gross monthly income; a primary underwriting metric.

• Amortization Schedule: A table detailing each payment’s allocation between principal and interest over the loan term.

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FAQs

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What causes mortgage rates to change during the day?

The rates today change over time; you can get real-time updates online on Florida's mortgage and refinance rates.

Are refinance rates always different from purchase rates?

To get the best mortgage, compare different lenders' annual percentage rates, check average interest rate data, and pick a reputable national mortgage lender.

How can I estimate a monthly payment?

Yes! Refinance rates can differ from your initial purchase rate or other existing mortgage rates today.

Where can I find conforming loan limits for 2025?

The Federal Housing Finance Agency publishes updated county-by-county limits each year, typically released in the fourth quarter preceding the effective year.