Homeowners in Florida spend about $35 less than the national average for their mortgages. However, these charges can vary depending on many factors, including the cost of your home, interest rate, annual property and real estate taxes and more.
The average monthly mortgage payment in Florida is $1,124. With the average Florida household earning $6,388, mortgage payments account for nearly 18% of Florida residents’ monthly income.
With the help of MoneyGeek’s Florida mortgage calculator, you can estimate your mortgage costs and possibly minimize your monthly payments. Comparing several lenders in the state enables you to select the best alternative depending on your budget. You will be able to see what other fees, such as taxes and interest, are included in your mortgage payments.