— Buying tools
Affordability, all-in.
Most online calculators show only principal + interest. In Florida, that's less than half the real monthly. Here's the full picture so there are no surprises at closing.
What goes into your real monthly
- Principal + interest (P&I). The traditional mortgage payment. Online calculators get this right; it is everything else they miss.
- Property taxes. Florida resets at purchase price (not grandfathered). Budget 1.0–1.4% of purchase price annually depending on county and homestead exemption.
- Homeowner insurance. Florida wind insurance can be 2-4x national average. Get a real quote BEFORE you make an offer, not after closing.
- Flood insurance. Required for VE/AE flood zones. VE-zone (most coastal) can be $4-12K/year. AE-zone often $1-3K. X-zone may be optional.
- HOA dues. Common in newer communities. Range $0 to $1,500/month. Includes amenities, landscaping, gates, sometimes cable/internet.
- CDD (Community Development District) fees. Special assessment in newer master-planned communities — pays off infrastructure bonds. Often $1-3K/year for 20-30 years.
- PMI (if <20% down). Private mortgage insurance, ~0.3-1.5% of loan annually. Drops off automatically when LTV reaches 78%.
Rule of thumb
For Florida, plan for total monthly to be roughly 1.4-1.7x the principal+interest payment once you layer in taxes, insurance, HOA, CDD, and PMI. Higher in coastal flood zones; lower in older non-HOA neighborhoods.
“Insurance has caught more buyers off guard in the last two years than any other line item. Always quote it before making the offer.”
— Ben Laube
Want the math run for a specific house?
Send me an MLS link or address; I'll come back with a real all-in monthly within one business day.