Mortgage on a $650K house in Florida
$4,257 a month with 20% down — $3,498 principal and interest plus $434 property tax and $325 insurance.
Florida's typical property tax is 0.8% of the home's value a year (U.S. average 0.9%), which adds $434 a month on a $650K home. The typical home in Florida is worth $375,361, so $650K is 73% above the typical price.
$650K home in Florida: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $130,000 | $520,000 | $3,498 | $0 | $759 | $4,257 | $182,500 |
| 10% down | $65,000 | $585,000 | $3,935 | $244 | $759 | $4,938 | $211,600 |
| 5% down | $32,500 | $617,500 | $4,154 | $257 | $759 | $5,170 | $221,600 |
| 3.5% down (FHA) | $22,750 | $638,227 | $4,293 | $287 | $759 | $5,340 | $228,900 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.8% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Florida does $650K buy a typical home?
In these counties the typical home value is within 15% of $650K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Walton County | $660,738 | 0.45% | $4,065 |
65 of 67 Florida counties tracked by Zillow have a typical home value at or below $650K. See all Florida home prices.
Other prices in Florida
Frequently asked questions
What is the mortgage on a $650K house in Florida?
About $4,257 a month with 20% down at 7.11%: $3,498 principal and interest, $434 property tax and $325 insurance.
How much do I need to make to buy a $650K house in Florida?
About $182,500 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $650K house in Florida?
At Florida's typical effective rate of 0.8%, about $5,210 a year. Rates vary by county and city — see the county pages.