Current as low as Mortgage and Home Equity Rates
FreeRateUpdate publishes the as low as mortgage and home equity rates and APRs we can verify from the lenders and brokers in our network. Individual terms vary; the details and assumptions behind each figure are available below.
| Purpose | Product | Term | As low as rate | APR* |
|---|---|---|---|---|
| Purchase | Fixed mortgage | 30 years | 6.625% | 6.837% |
| Purchase | Fixed mortgage | 15 years | 5.875% | 6.187% |
| Refinance | Fixed mortgage | 30 years | 6.624% | 6.778% |
| Refinance | Fixed mortgage | 15 years | 5.875% | 6.212% |
| Refinance | Fixed mortgage | 10 years | 5.625% | 6.096% |
| Cash-out refinance | Fixed mortgage | 30 years | 6.750% | 6.958% |
| Home equity | HELOC | Revolving | 7.050% | 7.050% |
| Home equity | Home equity loan | Fixed term | 7.000% | 7.457% |
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Compare FL Mortgage Refinance Offers
Lower Your Interest Rate in Florida
If eligible, you can lower your interest rate. This could lead to lower payments and less money paid towards interest.
By refinancing your existing loan, your total finance charges may be higher over the life of the loan.
Why should I lower my rate? |
Save money |
 |
Lower Payments |
Shorten Your Loan Term in Florida
Shorten your loan term when refinancing from a 30-year term to a 15-year term. You may also lower your rate.
Why should I shorten my term? |
Become mortgage-free quickly |
 |
Pay less interest |
Leverage Your Home's Equity in Florida
Take cash out of your home to apply to improvements, renovations, or other necessary expenses.
Why should I cash out? |
Renovations |
 |
Pay for other debts or emergencies |
Florida Mortgage Rates
With plenty of international airports and dozens of popular vacation destinations, it's easy to see why so many people want to relocate to Florida. When you add that there is no state income tax, life in Florida starts to sound better and better. The biggest question most potential buyers ask at this point is, "How do Florida mortgage rates stack up compared to the rest of the country?"
Common Florida Loan Types:
- Florida conventional mortgages: Conventional mortgages are made by private lenders without FHA insurance or a VA guaranty. Loan availability, qualifications, down payment, mortgage insurance, rates, and fees depend on the lender, borrower, property, and program.
- Florida FHA loans: FHA-insured mortgages are made by FHA-approved lenders and are not limited to first-time buyers. Eligibility and down payment depend on the borrower and property; loan limits and mortgage insurance vary by location and loan details.
- Florida VA loans: VA-backed mortgages are made by private lenders for eligible borrowers who meet VA and lender requirements. Some qualified purchase borrowers may use no down payment, while entitlement, appraisal, occupancy, funding-fee rules and exemptions, and lender requirements still apply.
Program information: FHA (HUD) and VA.gov.
How to Compare Florida Mortgage Rates
Mortgage pricing available in Florida varies by loan type, lender, borrower profile, property, points, and market timing. A Florida quote can change when a property is a primary residence, second home, or investment property, so compare offers using the same occupancy.