A general guideline is the 28/36 rule: spend no more than 28% of gross income on housing and 36% on total debt. In Northeast Florida, home prices range from $345K (Jacksonville average) to $1.2M+ (Ponte Vedra Beach). Getting pre-approved by a lender gives you a precise budget based on your income, debts, and credit score.
MORTGAGE CALCULATOR
Use this mortgage calculator to estimate your monthly home loan payments. Adjust the home price, down payment, interest rate, loan term, and other factors to see how your payment changes. This tool helps you plan your budget and make informed decisions when buying a home.
$90,000
Taxes & Fees
Total Monthly Payment
$2,502
Loan
$2,335
Taxes & Fees
$167
Frequently Asked Questions
Find answers to common questions about buying, selling, and investing in Florida real estate.
Down payments typically range from 3% to 20% of the purchase price. First-time buyers may qualify for FHA loans (3.5% down) or VA loans (0% down for veterans). Many Florida programs offer down payment assistance for qualified buyers. For a $400,000 home, expect $12,000-$80,000 down depending on loan type.
Absolutely! Pre-approval strengthens your offer in Northeast Florida's competitive market. Sellers prefer pre-approved buyers because it shows you're serious and financially qualified. A pre-approval letter also helps you focus your search on homes within your budget.
St. Johns County property taxes average around 0.89% of assessed value, while Duval County averages about 0.97%. Florida's homestead exemption reduces taxable value by up to $50,000 for primary residences. Your realtor can help estimate annual taxes for specific properties.
Jacksonville (Duval County) property taxes average about 0.97% of assessed value. Florida's homestead exemption can reduce your taxable value by up to $50,000 on your primary residence. Additional exemptions may apply for seniors, veterans, and disabled residents. Annual taxes on a $350,000 home would be approximately $3,400 before exemptions.