Florida Home Loans 2026 — Complete Guide
The number people miss: Florida's property tax is below the national average, but homeowners insurance is not — hurricane and flood exposure push premiums well above the national average in many coastal counties. Get an insurance quote before you make an offer, not after, since it can change what you can actually afford.
Florida Down Payment Assistance — FL Assist & FL HLP
Florida Housing Finance Corporation (Florida Housing) runs two statewide second-mortgage programs that pair with a Florida Housing first mortgage. Both are available to general buyers, not just hero professions.
Florida Housing Down Payment Programs
FL Assist vs. FL HLP — how they differ: FL Assist has no monthly payment; it is repaid only when you sell, refinance, or pay off the first mortgage. FL HLP carries a small monthly payment (roughly $52.70) but offers a higher assistance amount. Choose FL Assist if you want the lowest possible monthly payment, or FL HLP if you need the extra $2,500 and can absorb the payment in your debt-to-income ratio.
Are you a teacher, nurse, firefighter, police officer, EMT, or veteran? Florida also runs the Hometown Heroes program with up to $35,000 in assistance for essential workers — more generous than the general programs above. Browse the Hero Home Loan Programs hub and select Florida first if you qualify.
Income & Purchase Price Limits
Income and purchase price limits for FL Assist and FL HLP are set by county and household size, and both programs require first-time homebuyer status (no ownership in the past 3 years).
Check current limits for your county at FloridaHousing.org. Many Florida counties and cities also run their own local DPA programs stacked on top of the state options — Miami-Dade's Surtax Program, for example, offers additional assistance beyond FL Assist and FL HLP.
Current Rates
| Product | Rate | Source |
|---|---|---|
| 30-yr Conventional | 6.55% | Freddie Mac PMMS, week of July 16, 2026 |
| 15-yr Fixed | 5.93% | Freddie Mac PMMS, week of July 16, 2026 |
| Florida Housing first mortgages | Below market | Set by participating lender — confirm current rate directly |
2026 Loan Limits by County
Monroe County (the Florida Keys) is the state's only high-cost county for both FHA and conforming loan limits, driven by limited land and strong second-home demand. Every other Florida county uses the standard floor.
| Loan Type | Standard Counties | Monroe County (Keys) |
|---|---|---|
| FHA | $541,287 | $990,150 |
| Conventional (Conforming) | $832,750 | $990,150 |
| VA | No county limit for buyers with full entitlement | |
Some counties like Miami-Dade, Broward, and Palm Beach sit between the floor and ceiling for FHA specifically — verify your exact county limit at HUD.gov before house-hunting.
Property Tax in Florida
What Buyers Should Budget For
Florida's property tax is below the national average and there is no state property tax — every rate is set locally by county, city, school district, and special districts. Filing a homestead exemption on your primary residence lowers your taxable value immediately and caps future assessed value increases at 3% a year (or the CPI, whichever is lower) under the Save Our Homes provision. The bigger budget item for many Florida buyers is homeowners insurance, which runs well above the national average in hurricane-exposed and flood-prone counties — get a quote before writing an offer.
Pick Your Loan Type
Frequently Asked Questions
Bottom Line: Florida's combination of no state income tax and below-average property tax makes the state genuinely more affordable to hold long-term than the headline home price suggests — but insurance costs can offset that advantage in hurricane-prone counties. FL Assist and FL HLP cover most of a typical down payment when paired with FHA, and Hometown Heroes is worth checking first if you work in an eligible profession.
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