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Buyer & Renter Tools

Florida Mortgage Calculator

Estimate your full monthly payment — principal, interest, property tax, insurance, HOA, PMI and repairs — compare 15, 20 and 30-year loans, estimate Florida closing costs, and see renting vs. buying with your own numbers.

Please read before using this calculator: Cabana West Real Estate is a real estate brokerage only. We are not lenders, mortgage brokers, accountants (CPAs), tax advisors, attorneys or financial advisors. The results are educational estimates based on the numbers you enter. They are not an offer of credit and not financial, accounting, tax or legal advice. Confirm your numbers with a licensed lender, CPA or attorney before making any decision.

Every number below is editable. Pre-filled values are examples only — replace them with your own quotes. Sample rates are the Freddie Mac weekly national averages as of Sep 24, 2026, updated automatically every week.

1. Home & Loan

$
%
=
years
%
Freddie Mac PMMS avg, Sep 24, 2026
%
No national weekly average is published for 20-year loans — enter your lender’s quote.
%
Freddie Mac PMMS avg, Sep 24, 2026

2. Taxes, Insurance, HOA & Repairs

%
Example only. In Florida the assessed value resets to market value on Jan 1 after a sale (F.S. 193.155). Check your millage at pbcpao.gov.
$
Example only — get quotes. Compare insurers with the state’s CHOICES tool (floir.gov).
$
If required or desired.
$
%
Applied only if down payment < 20%; stops when balance is scheduled to reach 78% of the price (12 U.S.C. 4901–4902). Ask your lender for your rate.
%
Your own budget assumption.
$
$
Shows housing cost as a % of income.

3. Closing Costs

%
Bankrate: closing costs typically run 2%–5% of the loan amount.
$
Origination, points, underwriting, etc. from your Loan Estimate (sections A–C). Used for APR and 5-year cost.

Florida-specific items (reference)

Calculated from state law and the state-promulgated title rates. Who pays each item is set by your purchase contract.

Doc stamp tax on the mortgage note — $0.35 per $100 (F.S. 201.08)–
Intangible tax on the mortgage — 2 mills (F.S. 199.133)–
Doc stamp tax on the deed — $0.70 per $100 (F.S. 201.02)–
Owner’s title insurance, promulgated rate (F.A.C. 69O-186.003)–

For reference: Bankrate reports an average of $8,492 in Florida closing costs including taxes (1.82% of the average home price; LodeStar data, 2025).

4. Your Estimate

Total monthly housing cost–
Principal & interest–
Property tax–
Insurance (home + flood)–
HOA–
PMI–
Repairs & maintenance–
Other–
Loan amount–
Cash needed at closing (down + closing costs)–
Total interest over the loan–
Payoff date (if closing this month)–
PMI ends after–
Housing cost as % of income–

Loan Estimate–style comparisons

The same measures lenders must show on page 3 of the federal Loan Estimate (12 CFR 1026.37(l)). Official figures come from your lender.

–Total paid in principal, interest, mortgage insurance & loan costs in the first 5 years
–Principal paid off in the first 5 years
–Annual Percentage Rate (APR) — your costs over the loan term as a rate; not your interest rate
–Total Interest Percentage (TIP) — total interest over the loan as a % of the loan amount
Show year-by-year amortization

5. Compare 15, 20 & 30-Year Loans

Same price, down payment and costs — each term uses the rate you entered above.

6. Renting vs. Buying

Uses the home, loan and cost inputs above plus your assumptions below. All assumptions are yours — change them to test scenarios.

$
%
yrs
%
Can be negative in a falling market.
%
%
%
Commissions, deed stamps, title, etc. — your assumption.
Total rent paid–
Minus: growth of the cash you kept invested–
Net cost of renting–
Total paid to own (cash to close + all monthly costs)–
Minus: your equity after selling costs–
Net cost of buying–

Simplified model: does not include income-tax effects, renter’s insurance, or investing monthly differences. It is a planning aid, not a prediction.

Sources

Important: Cabana West Real Estate is a licensed Florida real estate brokerage. We are not a mortgage lender, mortgage broker or licensed loan originator, and we do not provide financing, lending, accounting, tax or legal advice. This calculator is an educational estimate based on the numbers you enter; interest-rate data is relayed from Freddie Mac and other sources listed above. Your actual rate, APR, payment and closing costs will be stated by a licensed lender on your official Loan Estimate and Closing Disclosure.

Ready to look at homes?

Andy B. Cooper and Cabana West help buyers and renters across Wellington, West Palm Beach and Palm Beach County — in English and Spanish. Call or text (561) 247-5469.

Contact Cabana West