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Miami-Dade County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Miami-Dade County, Florida based on real HMDA transaction records.

Loan Details

Miami-Dade County, FL Benchmarks

FHA averages
Typical Property Value$519,912
Average Down Payment9.8%
Average Interest Rate5.947%
Effective Tax Rate0.81%
Median Tax Paid$3,744/yr
Tax Growth (Historical)+3.3%
Based on 6,593 regional loans totaling $2,972,845,000 (HMDA database).
$
%

$50,951 down · $468,961 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$351 / month

$

Annual premium

$

Per month

%

$199 / month

Estimated Monthly Payment

$3,545/mo

  • Principal & Interest$2,846
  • Property Tax$351
  • Home Insurance$150
  • FHA MIP$199
Amortization · Remaining Balance

Financed Loan Amount

$477,167

Total Interest

$547,227

Total of Payments

$1,024,394

*Includes financed FHA Upfront MIP of $8,207

Local Market Insights

Miami-Dade County FHA Mortgage Overview

In Miami-Dade County, the 9.85% average down payment on an FHA loan provides accessible entry for primary residence buyers, yet requires mandatory Mortgage Insurance Premiums (MIP) for the loan’s life due to the 90.15% loan-to-value ratio. This structure suits buyers with sub-620 credit scores seeking an FHA mortgage with property taxes. The effective 0.81% property tax rate, adjusted upward by 3.3% for inflation, directly impacts monthly affordability. When evaluating an FHA loan with PMI and taxes in Miami-Dade County, FL, buyers must account for these persistent MIP costs alongside the tax shift to gauge true long-term housing expense.

Disclaimer: This calculator provides estimates for educational purposes only and does not constitute a loan offer or financial advice. Actual rates, taxes, insurance, and fees will vary.