Florida Mortgage Calculator (Taxes & Insurance)
Mortgage calculator for Florida homebuyers. Estimates monthly payments with FL property taxes and high homeowners insurance costs.
Loan Details
Taxes & Insurance
Estimated Monthly Payment
Payoff Date
February 2056
Add this calculator to your website
Want to use this tool on your blog or website? Copy the code below.
Affordability Analysis for $400,000
In Florida, property taxes are moderate, but Homeowners Insurance is very high due to hurricane risk. Be sure to increase the insurance input!
When planning for a home at this price point, it is critical to calculate not just the mortgage, but the "Unrecoverable Costs" of homeownership: property taxes, HOA fees, and maintenance (usually 1% of home value per year).
Compare Other Prices
FAQs for this Price Range
How much is the monthly payment for a $400,000 mortgage?
At a 6.5% interest rate, the Principal & Interest payment for a $400,000 loan is approximately $2022. However, with taxes and insurance (PITI), you should budget for about $3400 per month.
How much income do I need for a $400,000 house?
Using the 28% rule, lenders typically look for a gross annual income of approximately $145,714 to comfortably afford a $400,000 home.
Do I need 20% down?
No. You can buy this home with as little as 3-3.5% down ($14,000), but you will have to pay Private Mortgage Insurance (PMI).