How much down payment do I need to buy a house in Florida?

As little as 0% with a VA loan, 3% on a first-time-buyer conventional loan, 3.5% with FHA, or 5% on a standard conventional loan. On a $450,000 home that is $0, $13,500, $15,750 or $22,500. Twenty percent ($90,000) avoids mortgage insurance but is not required.

Is 20% down required to avoid PMI?

Yes for private mortgage insurance on a conventional loan, but PMI drops off once you reach 20% equity, and lender-paid or single-premium options exist. FHA mortgage insurance lasts the life of the loan when you put down under 10%, so many buyers refinance out of FHA later.

What else do I need besides the down payment?

Closing costs of roughly 2% to 3% of the price in Central Florida (title, lender fees, prepaid taxes and insurance, escrow), plus reserves most lenders like to see. Seller or lender credits can offset closing costs; use the field in the calculator.

Is there down payment assistance in Florida?

Yes. Florida Housing's Hometown Heroes program, the Florida Assist second mortgage, and county programs in Orange, Seminole, Osceola and Brevard offer $10,000 to $35,000 in deferred or forgivable help for qualifying buyers. See our Florida down payment assistance page for current limits.

Buyer Tools

How much do you really need to put down?

Most Florida buyers do not put 20% down. Pick a loan program, see the down payment, the cash you need at closing, what mortgage insurance adds each month, and how many months of saving you are away. Every program is compared side by side on the same home.

Rate pre-filled from this week's national 30-year average. Today's rates

The home and the loan

Purchase price

Loan program

Standard low-down conventional. PMI until 20% equity.

Interest rate %

Term

Buyer closing costs (% of price)

2–3% is typical in Central Florida. Line-item estimator

Seller / lender credit

Saved so far

You can save per month

Down payment (5%)

$22,500

+ $11,250 closing costs = $33,750 cash to close

Estimated monthly payment

$3,979

Principal & interest: $2,953
Mortgage insurance: $214
Taxes & insurance (est.): $813

Time to get there

14 months

to close the $13,750 gap at $1,000/mo. Florida down payment assistance can shorten it — see the programs.

Same home, every program

Program	Down payment	Cash to close	Mortgage ins. / mo	Total payment / mo
Conventional 3% down	$13,500	$24,750	$309	$4,136
Conventional 5% down	$22,500	$33,750	$214	$3,979
Conventional 10% down	$45,000	$56,250	$135	$3,745
Conventional 20% down	$90,000	$101,250	—	$3,299
FHA 3.5% down	$15,750	$27,000	$203	$4,067
VA 0% down	$0	$11,250	—	$3,987

Taxes estimated at 1.5% of price per year and insurance at $3,000 per year; PMI tiers are typical for a ~740 credit score. VA assumes first use with the funding fee financed. Estimates for planning only, not a loan offer. Equal Housing Opportunity.

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Choosing a program

Less down is not always more expensive

A 5% conventional loan with good credit often beats FHA once you count FHA's upfront and lifetime mortgage insurance. FHA wins when credit is in the 580 to 680 range or debt ratios are high. VA is unbeatable for those who qualify.

Keeping cash in reserve matters too. In a market where sellers still pay concessions on many homes, a buyer with 10% down and six months of reserves is often stronger than one who emptied every account to reach 20%.

Questions buyers ask

Down payment FAQ

How much down payment do I need to buy a house in Florida?: As little as 0% with a VA loan, 3% on a first-time-buyer conventional loan, 3.5% with FHA, or 5% on a standard conventional loan. On a $450,000 home that is $0, $13,500, $15,750 or $22,500. Twenty percent ($90,000) avoids mortgage insurance but is not required.
Is 20% down required to avoid PMI?: Yes for private mortgage insurance on a conventional loan, but PMI drops off once you reach 20% equity, and lender-paid or single-premium options exist. FHA mortgage insurance lasts the life of the loan when you put down under 10%, so many buyers refinance out of FHA later.
What else do I need besides the down payment?: Closing costs of roughly 2% to 3% of the price in Central Florida (title, lender fees, prepaid taxes and insurance, escrow), plus reserves most lenders like to see. Seller or lender credits can offset closing costs; use the field in the calculator.
Is there down payment assistance in Florida?: Yes. Florida Housing's Hometown Heroes program, the Florida Assist second mortgage, and county programs in Orange, Seminole, Osceola and Brevard offer $10,000 to $35,000 in deferred or forgivable help for qualifying buyers. See our Florida down payment assistance page for current limits.

Next step

Turn the estimate into a pre-approval

Ryan is both the broker and a licensed mortgage originator, so one conversation covers the loan program, the down payment assistance you qualify for, and which Central Florida neighborhoods fit the resulting budget.

Get Pre-Approved Affordability Calculator First-Time Buyer Guide

Ryan Solberg · MLO NMLS #1784218 · Mortgageinc NMLS #2028516 · Licensed in Florida · Equal Housing Opportunity