30-Year Fixed Jumbo Mortgage Refinance Interest Rates in Florida

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Showing results for: 30-Year Fixed refinance offers for Single Family or Townhome properties in FL, total loan amount of $800,000.

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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Rates and fees are estimates and subject to change without notice. Payments do not include taxes and insurance premiums. Actual payments may be higher. Not all lenders participate in this marketplace. Loan availability and terms may vary by state and lender. Lender offers, including badges like “Lowest APR” or “Lowest Payment,” are based only on results displayed here and may not reflect the absolute lowest offer available in the market. Rate and product details

Florida housing market snapshot

Hey Florida homeowners! The market here is cooling off after a historic run-up. Inventory is rising, and price growth has paused.

Why This Matters for Your Refinance (The LTV Factor)

• Loan-to-Value (LTV) is a critical number for refinancing. It is your loan balance divided by your home's appraised value.
• The Watch-Out: With prices dipping slightly (-0.5%), your home might appraise for a little less than it would have last year.
• The Strategy: If you bought recently (2023-2024) with a small down payment, a drop in value could increase your LTV. Check your value carefully before applying for a refinance to ensure you still have at least 20% equity if you want to avoid mortgage insurance.

Property taxes in Florida

Florida has no state income tax, so property taxes are the main revenue source. Watch out for "non-ad valorem" assessments (like garbage or fire services) on your bill.

Florida refinance programs & homeowner perks

What is a 30-year fixed jumbo mortgage in Florida?

A 30-year fixed jumbo mortgage in Florida is a home loan that exceeds the conforming loan limits set by the FHFA, typically around $726,200. This mortgage has a fixed interest rate and consistent monthly payments over 30 years, suitable for high-value properties in Florida.

How do jumbo mortgage rates in Florida compare to conventional mortgage rates?

In Florida, jumbo mortgage rates are generally higher than conventional rates due to the increased risk for lenders. Rates can vary based on your financial profile and market conditions in Florida.

What are the requirements for a 30-year jumbo mortgage in Florida?

Lenders in Florida usually require a higher credit score (typically 700+), a larger down payment (often 20% or more), and a lower debt-to-income ratio compared to conventional loans.

Can I refinance a 30-year jumbo mortgage in Florida?

Yes, refinancing a jumbo mortgage in Florida is possible and can help secure a lower rate or change the loan terms. The process may be more stringent due to the higher loan amount.

What are the benefits of a 30-year fixed jumbo mortgage in Florida?

Benefits include financing higher-value properties, fixed interest rates for stability, and consistent monthly payments over 30 years for homes in Florida.

Are there closing costs for jumbo mortgages in Florida?

Yes, closing costs in Florida can be higher than for conventional loans due to the larger loan amounts and additional scrutiny during approval. They typically range from 2% to 5% of the loan amount.

How can I get the best 30-year jumbo mortgage rate in Florida?

To get the best rate in Florida, maintain a high credit score, save for a substantial down payment, and compare offers from multiple lenders. Economic conditions and lender policies in Florida also play a role.

What is the difference between a conforming and a jumbo loan in Florida?

A conforming loan in Florida adheres to the FHFA limits and can be purchased by Fannie Mae or Freddie Mac. A jumbo loan exceeds these limits and is not eligible for purchase by these entities, resulting in different qualifying criteria and potentially higher rates.