Current mortgage rates · week of July 9, 2026
| Week | 30-yr / 15-yr fixed |
| July 9, 2026 | 6.49% / 5.82% |
| July 2, 2026 | 6.43% / 5.79% |
| June 25, 2026 | 6.49% / 5.84% |
| June 18, 2026 | 6.47% / 5.81% |
| June 11, 2026 | 6.52% / 5.84% |
| June 4, 2026 | 6.48% / 5.79% |
| May 28, 2026 | 6.53% / 5.87% |
| May 21, 2026 | 6.51% / 5.85% |
U.S. weekly averages — Freddie Mac Primary Mortgage Market Survey via FRED.
Florida Mortgage Overview
If sunshine and warm weather are something you love, Florida, the flattest state in the country is a great place to live. Popular with tourists and retirees, Florida is also a great place for first-time homebuyers. Its median home price is around $415,000, and plenty of more affordable markets can be found across the state.
If you're thinking about moving to Florida, here are the top first-time homebuyer loans you can choose from:
Florida conventional loans
Do you have great credit and a low debt-to-income ratio? The Florida conventional loan provides low interest rates for borrowers with credit scores of 660 or higher. You'll also need average debt ratios of around 36 - 40%. Conventional loans require just a 3 percent down payment, and you'll pay PMI until you owe less than 80 percent of the home's value.
Florida FHA loans
Borrowers with credit issues or high debt ratios have luck with Florida FHA loans. With just 3.5 percent down and at least a 580 credit score, you can buy your first home. FHA loans have flexible debt ratio guidelines but do require mortgage insurance for the life of the loan. Borrowers with credit scores between 500 - 579 may qualify too, but with a 10 percent down payment.
Florida VA loans
Veterans have the distinct advantage of the VA loan, which offers 100 percent financing. You don't need great credit or a low debt ratio. As long as you prove you have a stable income and can afford your bills and the daily cost of living, you're on your way to a flexible loan.
Florida USDA loans
Florida has plenty of 'rural' areas according to the USDA guidelines. Low to moderate-income families who don't qualify for any other loan program may be eligible for this 100 percent financing loan. You need a 640 credit score and a debt ratio around 41 percent to qualify.
First-Time Homebuyer
Programs in Florida
Down payment assistant
program
Florida residents can receive down payment assistance as a second mortgage. There are no payments due on the loan, but the full amount is due when you sell the home or refinance the loan.
Salute our Soldiers
This veteran's program helps veterans secure a first mortgage with lower than average rates, plus get down payment and closing cost assistance.
Florida First-Time Homebuyer
Program
If your income doesn't exceed the guidelines, and the home price is within the purchase limits, you may secure more favorable terms with the Florida First-Time Homebuyer program with lower interest rates and costs on your first loan.
Florida mortgage FAQ
- What mortgage options are available in Florida?
- Florida buyers can choose conventional loans with 3 percent down for credit scores of 660 or higher, FHA loans with 3.5 percent down and a 580 score (or 10 percent down for scores of 500 to 579), VA loans with 100 percent financing for veterans, and USDA loans offering 100 percent financing in eligible rural areas with a 640 credit score.
- What first-time homebuyer programs does Florida offer?
- Florida offers a down payment assistance program structured as a second mortgage with no payments due until you sell or refinance, the Salute Our Soldiers program giving veterans lower than average rates plus down payment and closing cost help, and the Florida First-Time Homebuyer Program, which provides lower interest rates and costs for buyers within its income and purchase price limits.
- How much do you need for a down payment in Florida?
- It depends on the loan type. VA and USDA loans finance 100 percent of the purchase, so no down payment is required. Conventional loans start at 3 percent down, and FHA loans need 3.5 percent with a 580 credit score. FHA borrowers with scores between 500 and 579 must put 10 percent down instead.