Florida Mortgage Guide 2026
This Florida mortgage guide covers everything you need to know about getting a mortgage in Florida — loan limits by county, available programs, property taxes, insurance costs, documentary stamp tax, and how the Florida housing market affects your financing options.
Florida Loan Limits by County (2026)
Conforming and FHA loan limits vary significantly across Florida’s 67 counties — more so than most states. High home values in South Florida, Naples, and the Keys push several counties well above the national floor.
| County / Area | Conforming Limit | FHA Limit | Notes |
|---|---|---|---|
| Most Florida counties | $832,750 | $541,287 | Standard floor |
| Manatee, Sarasota | $832,750 | $547,400 | Slightly above floor |
| Baker, Clay, Duval, Nassau, St. Johns (Jacksonville) | $832,750 | $580,750 | Intermediate tier |
| Martin, St. Lucie, Okaloosa, Walton | $832,750 | $603,750 | Intermediate tier |
| Miami-Dade, Broward, Palm Beach | $832,750 | $667,000 | High-cost South Florida |
| Collier County (Naples) | $832,750 | $764,750 | High-cost |
| Monroe County (Florida Keys) | $832,750 | $990,150 | Highest in Florida |
Always verify your county’s FHA limit. Florida has more intermediate tiers than most states. Use HUD’s official FHA Mortgage Limits lookup tool to confirm the exact limit for your county before applying.
Florida Mortgage Guide: Loan Programs Available
| Program | Min Down Payment | Min Credit Score | Best For |
|---|---|---|---|
| FHA | 3.5% | 580 | First-time buyers, lower credit scores |
| VA | 0% | 580–620 (lender overlay) | Veterans, active duty, surviving spouses |
| USDA | 0% | 640 | Rural buyers meeting income limits |
| Conventional | 3–20% | 620 | Strong credit, wants PMI cancellation |
| FL HFA Preferred | 3% | 640 | FL Housing conventional loan + DPA |
| Hometown Heroes | As low as 0%* | 640 | Essential workers, up to $35K DPA |
*With FL Housing down payment assistance layered on a first mortgage through a participating lender.
Homeowner’s and Flood Insurance in Florida
Insurance is the single most important Florida-specific factor affecting mortgage affordability. Florida has the highest homeowner’s insurance costs in the country, and many properties also require flood insurance.
Homeowner’s Insurance
| Area | Typical Annual Premium Range | Notes |
|---|---|---|
| North / Central Florida (inland) | $2,000–$4,000 | Lower risk, more carrier options |
| Tampa / Orlando / Jacksonville | $3,000–$6,000 | Varies by home age and location |
| South Florida (Miami, Fort Lauderdale) | $5,000–$10,000+ | High hurricane exposure |
| Naples / Fort Myers / Southwest FL | $5,000–$12,000+ | Post-Ian insurance market challenges |
| Florida Keys (Monroe County) | $8,000–$20,000+ | Extreme exposure; limited carriers |
Flood Insurance
Many Florida properties in FEMA-designated flood zones require flood insurance as a loan condition. Flood insurance is separate from homeowner’s insurance and is typically obtained through the National Flood Insurance Program (NFIP) or private carriers. Annual premiums commonly range from $1,000–$4,000+. Always check FEMA’s flood map before making an offer on any Florida property.
Insurance costs affect your qualifying payment. Both homeowner’s insurance and flood insurance premiums are included in your PITI and counted in your DTI ratio. High insurance costs are the most common reason Florida buyers are approved for less than expected. Get insurance quotes before making an offer — not after.
Florida Property Taxes
Florida’s effective property tax rate averages approximately 0.89% — slightly below the national average, but higher than neighboring states like Alabama and Georgia. Rates vary by county.
| Home Value | Est. Annual Tax (0.89%) | Monthly Escrow |
|---|---|---|
| $300,000 | ~$2,670 | ~$223/mo |
| $400,000 | ~$3,560 | ~$297/mo |
| $550,000 | ~$4,895 | ~$408/mo |
| $700,000 | ~$6,230 | ~$519/mo |
Florida Homestead Exemption: Florida offers a $50,000 homestead exemption on primary residences that reduces the taxable value of your home. File by March 1 with your county property appraiser after closing. This can save $500–$1,000/year in property taxes. The Save Our Homes cap also limits annual increases in assessed value to 3% or the CPI increase — whichever is less — for homesteaded properties.
Closing Costs in Florida
Florida buyer closing costs typically run 2%–5% of the purchase price — higher than most states due to Florida-specific taxes that don’t exist elsewhere.
| Fee | Rate / Amount | On a $400,000 Loan |
|---|---|---|
| Documentary stamp tax (mortgage) | $0.35 per $100 of loan | $1,400 |
| Intangible tax (mortgage) | $0.002 per $1 of loan | $800 |
| Title insurance (lender’s policy) | State-regulated rate | ~$1,500–$2,000 |
| Owner’s title insurance* | State-regulated rate | ~$2,000–$2,500 |
*In most Florida counties the seller pays owner’s title. In Miami-Dade, Broward, Collier, and Sarasota the buyer customarily pays.
No state income tax advantage. Florida has no state income tax, which is a major attraction for buyers relocating from high-tax states. However, this doesn’t offset higher insurance costs — budget carefully for both.
Florida Housing Market Overview (2026)
Florida’s housing market has moderated significantly from its 2021–2022 peak. Home prices declined about 2.7% in 2025 — the largest average drop of any state — driven by slowing in-migration, rising insurance costs, and increased inventory. This has shifted negotiating leverage toward buyers in many areas.
| Area | Median Price (Est.) | Market Trend | Key Notes |
|---|---|---|---|
| Miami / Fort Lauderdale | $575,000–$750,000+ | Stabilizing | High insurance; strong condo market |
| Tampa / St. Pete | $380,000–$480,000 | Softening | Insurance costs rising post-storm |
| Orlando | $350,000–$450,000 | Stable | Strong job growth; large FHA market |
| Jacksonville | $290,000–$390,000 | Stable | Military-heavy; strong VA loan market |
| Naples / Fort Myers | $450,000–$700,000+ | Recovering | Post-Ian insurance challenges persist |
| Gainesville / Tallahassee | $270,000–$360,000 | Stable | More affordable; good USDA access |
