Adjust the numbers to see what a home would actually cost you each month.
Down payment: $100,000 · Loan amount: $400,000.
Estimate only — actual rate, taxes, and insurance vary by lender and property.
It's free, a soft check on your credit that won't affect your score, and doesn't commit you to anything until you actually make an offer on a home.
Get more infoConventional loans often allow as little as 3-5% down, though putting down less than 20% typically requires private mortgage insurance (PMI). FHA loans allow as little as 3.5% down. Use the calculator above to see how different down payment percentages affect your monthly payment.
Beyond principal and interest, most Miami-area mortgage payments (paid through an escrow account) include property taxes, homeowners insurance, and, for condos or planned communities, HOA dues. Florida homeowners insurance tends to run higher than the national average due to hurricane and flood risk.
Conventional loans typically require a minimum credit score around 620, while FHA loans can go as low as 580 with a 3.5% down payment. Higher credit scores generally qualify for lower interest rates.
The 20% myth, explained — what conventional and FHA loans really require.
Every fee on a typical closing statement, and Florida's unusual rules on who pays what.
Estimate the annual property tax bill for a specific ZIP code.