Florida First-Time Homebuyer Calculator
First-time homebuyer costs in Florida: $14,000 FHA down payment, $10,000 closing costs, 0.89% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for Florida. Includes down payment, closing costs (2.5%), PMI (required below 20% down), property tax (0.89%), and homeowners insurance ($4,200/yr). DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
Florida homebuyer facts: Median price $400,000 | 20% down = $80,000 | FHA 3.5% down = $14,000 | Closing costs ~$10,000 | Property tax 0.89% | No attorney required.
Frequently Asked Questions
How much do I need to buy a house in Florida?
For Florida's median home ($400,000): FHA minimum down payment is $14,000 (3.5%), plus $10,000 in closing costs. Total minimum: ~$24,000. With 20% down to avoid PMI: ~$90,000.
What are closing costs in Florida?
Florida closing costs average 2.5% of the home price, or about $10,000 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and optional attorney fees. Transfer taxes are 0.7%.
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