Florida Mortgage Rates

May 31, 2016 10:09 AM Eastern

Refinance rates now in MIAMI BEACH, FL [Change this]

?
Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
?
Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
?
Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
?
Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

30 Year Fixed

Interest Rate
3.375%
APR
3.495%
Monthly Payment
$885
Consumer Direct Mortgage, a division of FirstBank
30 Year Fixed
Interest Rate
3.375%
APR
3.495%
Monthly Payment
$885
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $885
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $885
Lender Fees $2,974
Lender Credit $0
Total Closing Fees* $2,974
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention. You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Wonderful Job

Yes, I recommend this lender

I worked with William Hutto & Rachel Browning. Everything went well and the communication was always open. I feel William Hutto went above and beyond so I wanted to mention and give credit to him as well.

By: WilliamNash (Reno, NV)

Consumer Direct Mortgage review

Yes, I recommend this lender

Best financing experience ever! My compliments to three individuals in particular, Stephen Spivey, Kimberly Sourant and Magen Dwojak. I could not be more pleased with the level of professionalism and promptness displayed by these individuals and their whole team. Great Product, great interest rate and great people!

By: Rick (Eureka, MO)

Happy with my Refinance

Yes, I recommend this lender

I was in need of a mortgage refinance and went on line to Lending Tree in order to get responses from multiple mortgage companies. ConsumerDirect Mortgage was one of the respondents. They had the most competitive rates and their closing cost were better than most as well. They were an excellent team of mortgage professionals led by Bill Hutto. if I am ever in need of another mortgage in the future I will certainly contact ConsumerDirect.

By: Bryan (Conway, SC)
See All Reviews
Capital One
30 Year Fixed
Interest Rate
3.500%
APR
3.611%
Monthly Payment
$899
(844) 326-5399 Contact
Capital One
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 60 Days
Down Payment $50,000
Principal and Interest Payments $899
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $899
Lender Fees $2,725
Lender Credit $0
Total Closing Fees* $2,725
*Other 3rd party fees may apply
Capital One
Email Lender

About the Lender

You can expect better with Capital One. Whether you need help with refinancing, a new home purchase, debt consolidation, or financing home improvements, your idea of better likely starts with savings - we maximize your savings with competitive rates and lower than average closing costs. But savings is only the start. We also strive to provide a better loan process - one that’s totally clear right from the start, with no hidden fees or unexpected surprises along the way. You can expect better service too - you’ll have a responsive team of dedicated mortgage specialists assigned and available to you every day, each member trained to anticipate and able to take care of all your needs.
Capital One
Email Lender Write a Review

Lender Reviews

I like payment

Yes, I recommend this lender

I like Capital

By: DuongHien (Mountain View, CA)

Eugena Carpio review

Yes, I recommend this lender

They were bery good as aloan company keep lower rates and I was very satisfied

By: EugeneCarpio (Las Vegas, NV)

Review

Yes, I recommend this lender

Experienced and knowledgeable staff.

By: Cathleen (Santa Fe, NM)
See All Reviews

15 Year Fixed

Interest Rate
2.750%
APR
2.803%
Monthly Payment
$1,358
Consumer Direct Mortgage, a division of FirstBank
15 Year Fixed
Interest Rate
2.750%
APR
2.803%
Monthly Payment
$1,358
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,358
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,358
Lender Fees $736
Lender Credit $0
Total Closing Fees* $736
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention. You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Wonderful Job

Yes, I recommend this lender

I worked with William Hutto & Rachel Browning. Everything went well and the communication was always open. I feel William Hutto went above and beyond so I wanted to mention and give credit to him as well.

By: WilliamNash (Reno, NV)

Consumer Direct Mortgage review

Yes, I recommend this lender

Best financing experience ever! My compliments to three individuals in particular, Stephen Spivey, Kimberly Sourant and Magen Dwojak. I could not be more pleased with the level of professionalism and promptness displayed by these individuals and their whole team. Great Product, great interest rate and great people!

By: Rick (Eureka, MO)

Happy with my Refinance

Yes, I recommend this lender

I was in need of a mortgage refinance and went on line to Lending Tree in order to get responses from multiple mortgage companies. ConsumerDirect Mortgage was one of the respondents. They had the most competitive rates and their closing cost were better than most as well. They were an excellent team of mortgage professionals led by Bill Hutto. if I am ever in need of another mortgage in the future I will certainly contact ConsumerDirect.

By: Bryan (Conway, SC)
See All Reviews
Capital One
15 Year Fixed
Interest Rate
2.750%
APR
2.946%
Monthly Payment
$1,358
(844) 326-5399 Contact
Capital One
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 60 Days
Down Payment $50,000
Principal and Interest Payments $1,358
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,358
Lender Fees $2,725
Lender Credit $0
Total Closing Fees* $2,725
*Other 3rd party fees may apply
Capital One
Email Lender

About the Lender

You can expect better with Capital One. Whether you need help with refinancing, a new home purchase, debt consolidation, or financing home improvements, your idea of better likely starts with savings - we maximize your savings with competitive rates and lower than average closing costs. But savings is only the start. We also strive to provide a better loan process - one that’s totally clear right from the start, with no hidden fees or unexpected surprises along the way. You can expect better service too - you’ll have a responsive team of dedicated mortgage specialists assigned and available to you every day, each member trained to anticipate and able to take care of all your needs.
Capital One
Email Lender Write a Review

Lender Reviews

I like payment

Yes, I recommend this lender

I like Capital

By: DuongHien (Mountain View, CA)

Eugena Carpio review

Yes, I recommend this lender

They were bery good as aloan company keep lower rates and I was very satisfied

By: EugeneCarpio (Las Vegas, NV)

Review

Yes, I recommend this lender

Experienced and knowledgeable staff.

By: Cathleen (Santa Fe, NM)
See All Reviews
Sebonic Financial
15 Year Fixed
Interest Rate
2.750%
APR
2.984%
Monthly Payment
$1,358
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,358
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,358
Lender Fees $3,237
Lender Credit $0
Total Closing Fees* $3,237
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
Email Lender Write a Review

Lender Reviews

I recommend Renato Paz

Yes, I recommend this lender

excellent

By: albertina (Leesburg, VA)

My experience with Sebonic Financial

Yes, I recommend this lender

Although it took a while to get the loan approved, Sebonic Financial did a great job in helping to secure my loan.

By: George (Fernandina Beach, FL)

Very Impressed

Yes, I recommend this lender

Requesting a loan with Sebonic was a very satisfying experience. I was contacted promptly and professionally, and the loan originator, Scott Galbraith, was very professional and friendly. Although I decided to not complete the loan, Sebonic did offer the best rates I saw out there, and provided a very professional service. I would recommend Sebonic for anyone seeking a mortgage.

By: Daniel (Boca Raton, FL)
See All Reviews

5/1 ARM

Interest Rate
2.625%
APR
3.396%
Monthly Payment
$804
Capital One
5/1 ARM
Interest Rate
2.625%
APR
3.396%
Monthly Payment
$804
(844) 326-5399 Contact
Capital One
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 60 Days
Down Payment $50,000
Principal and Interest Payments $804
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $804
Lender Fees $2,725
Lender Credit $0
Total Closing Fees* $2,725
*Other 3rd party fees may apply
Capital One
Email Lender

About the Lender

You can expect better with Capital One. Whether you need help with refinancing, a new home purchase, debt consolidation, or financing home improvements, your idea of better likely starts with savings - we maximize your savings with competitive rates and lower than average closing costs. But savings is only the start. We also strive to provide a better loan process - one that’s totally clear right from the start, with no hidden fees or unexpected surprises along the way. You can expect better service too - you’ll have a responsive team of dedicated mortgage specialists assigned and available to you every day, each member trained to anticipate and able to take care of all your needs.
Capital One
Email Lender Write a Review

Lender Reviews

I like payment

Yes, I recommend this lender

I like Capital

By: DuongHien (Mountain View, CA)

Eugena Carpio review

Yes, I recommend this lender

They were bery good as aloan company keep lower rates and I was very satisfied

By: EugeneCarpio (Las Vegas, NV)

Review

Yes, I recommend this lender

Experienced and knowledgeable staff.

By: Cathleen (Santa Fe, NM)
See All Reviews
Consumer Direct Mortgage, a division of FirstBank
5/1 ARM
Interest Rate
2.625%
APR
3.400%
Monthly Payment
$804
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $804
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $804
Lender Fees $2,818
Lender Credit $0
Total Closing Fees* $2,818
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention. You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Wonderful Job

Yes, I recommend this lender

I worked with William Hutto & Rachel Browning. Everything went well and the communication was always open. I feel William Hutto went above and beyond so I wanted to mention and give credit to him as well.

By: WilliamNash (Reno, NV)

Consumer Direct Mortgage review

Yes, I recommend this lender

Best financing experience ever! My compliments to three individuals in particular, Stephen Spivey, Kimberly Sourant and Magen Dwojak. I could not be more pleased with the level of professionalism and promptness displayed by these individuals and their whole team. Great Product, great interest rate and great people!

By: Rick (Eureka, MO)

Happy with my Refinance

Yes, I recommend this lender

I was in need of a mortgage refinance and went on line to Lending Tree in order to get responses from multiple mortgage companies. ConsumerDirect Mortgage was one of the respondents. They had the most competitive rates and their closing cost were better than most as well. They were an excellent team of mortgage professionals led by Bill Hutto. if I am ever in need of another mortgage in the future I will certainly contact ConsumerDirect.

By: Bryan (Conway, SC)
See All Reviews
Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

Mortgage Rate Trends

Monthly | Daily

Florida Mortgage Rates and Loan Options

Florida provides numerous mortgage options and attractive mortgage rate opportunities for those looking to make their home in the country's southeastern region.

From the panhandle to the shores of Miami and Key West, the laid back lifestyle of the Sunshine State has long attracted those in search of a coastal lifestyle. Floridians have convenient access to the Atlantic Ocean and the warmer Gulf of Mexico, both popular destinations for homeowners.

Whether you choose to live in a condo in the colorful city of Miami or a beach cottage in the resort town of Panama City, Florida has many loan programs and mortgage interest rate options to match.

Special Florida Loan Programs and FL Mortgage Interest Rates

The Homeownership Pool (HOP) Program offers funds for eligible homebuyers whose adjusted income does not exceed 80 percent of the median income and who purchase a home from pool member developers.  The program allows buyers to receive a zero percent deferred second mortgage loan that can be used to meet the first lender's down payment requirements.

The Florida Housing Finance Corporation administers a program called the State Housing Initiatives Partnership (SHIP). Funds are disbursed through the local governments and passed on to individual homeowners in the very low and low-to-moderate income tracts. Money for this program can be used to purchase new homes or refinancing existing loans in the following categories:

  • emergency repairs
  • new construction and rehabilitation
  • down payment and closing cost assistance
  • mortgage buy-downs

Mobile and Manufactured Homes in Florida: Mortgage Rates and Financial Assistance

Florida is a state with many mobile and manufactured home communities.  Various cities offer support programs and education resources for buyers wishing to purchase this type of housing. Programs include down payment assistance, money for repairs or rehabilitation, and dealer incentives. Mobile and manufactured home owners can also apply for low FL mortgage interest rates.

VA and USDA Loans and Current Florida Mortgage Rates

Using a loan program from the VA or USDA, borrowers can get up to 100 percent financing, allowing them to buy without a down payment. While high leverage loans typically come with higher interest rates, the VA and USDA make loans through their conventional lender partners at or below market interest rates. This means that VA and USDA loans boast some of the lowest current FL mortgage rates. To qualify, you must meet certain criteria defined by the lending institution as well as the VA or USDA.