Tomo Mortgage

What's a good rate for you in FL? Update your credit score to find out

A good rate for a primary, single-family home in for , and credit score is:

5.92% - 6.07%

Histogram showing 3 data points from 5.92% to 6.58%. Use Tab to navigate between segments, and Enter to select a bar.

5.92%6.08%6.25%6.42%6.58%

TrueRatefound 138 lenders for you

Rates updated Jan 8, 2026

Insights

Negotiate everything—rates, fees, and terms are not set in stone.

Portrait of George Robinson, TrueRate Data ScientistGeorge RobinsonTrueRate Data Scientist

Lenders with low rates in FL

TrueRate analyzed the rates lenders actually gave to buyers for the last three years and found only 7 lenders likely to get you a good deal.

LenderLender fees
Customer reviews
Highly ratedHighly rated
Highly ratedHighly rated
Limited reviewsLimited reviews
Below averageBelow average
Mixed reviewsMixed reviews
AverageAverage

Insights

Negotiate everything—rates, fees, and terms are not set in stone.

Portrait of George Robinson, TrueRate Data ScientistGeorge RobinsonTrueRate Data Scientist

Lenders in FL likely to have high rates

We don’t accept advertising, so you can get the real lender story. TrueRate looked at 138 lenders and found that these 6 are likely to offer you a high rate.

LenderLender fees
Customer reviews
Above averageAbove average
Mixed reviewsMixed reviews
Limited reviewsLimited reviews
Mixed reviewsMixed reviews
Mixed to positiveMixed to positive
MixedMixed

Insights

Whether a lender has high margins or is simply inefficient and passing their costs on to you, the result is the same—you’ll likely end up paying more for your home. Our data shows that if you choose these lenders you will likely regret it.

Portrait of George Robinson, TrueRate Data ScientistGeorge RobinsonTrueRate Data Scientist

Lenders with average rates in FL

You deserve better than what these 125 lenders historically provide.

Don’t let lenders pull a fast one on you

Learn how really low rates often come with hidden fees. Drag the slider to see how rates and fees are connected.

5.92% - 6.07%

Insights

TrueRate compares lenders based on their 0 points or par rate. You should use this rate when comparing lenders.
Portrait of James McTernan, Tomo Mortgage Loan AdvisorInsights by James McTernanTomo Mortgage Loan Advisor - NMLS #1112719

TrueRate report

Buying a home shouldn’t feel impossible—see what’s driving buyer stress in 2025.

What is TrueRate by Tomo Mortgage?

TrueRate is a tool for homebuyers, created by Tomo Mortgage. It uses AI and analytical models to show you what a fair mortgage rate really looks like—your “true rate”—based on your unique financial situation and real market conditions. It strips out all the bait-and-switch pricing you see all over the internet, such as rates advertised with big point fees hiding in the fine print.

Instead of giving you a one-size-fits-all estimate, TrueRate calculates what rate you should be looking for that day, using the same kinds of data that lenders themselves rely on to provide their own rate information. We’re just making it all public for the first time. You’ll be able to see whether an interest rate offered by a bank, credit union, or mortgage company is low, average, or too high—before you agree to anything.

We believe in transparency. Here’s how we crunched the numbers.

See our TrueRate methodology

How credit scores impact mortgage rates

By Will Begeny, TrueRate Editor, and George Robinson, Chief Data Scientist

Your credit score plays a huge role in the mortgage process. It helps lenders—and the government organizations that oversee these lenders—determine how likely it is that you’ll repay your mortgage.

Your credit score is a three-digit number, usually between 300 (i.e., you have “bad credit”) and 850 (i.e., you have “excellent credit”). The average credit score for a new home buyer is about 720. There’s a number of different credit agencies that calculate your score (they all have different methods), but your number is based on your credit history. This includes:

  • Payment history (on-time or late payments)
  • Total debt and credit utilization
  • Length of credit history
  • Types of credit accounts (credit cards, loans, etc.)
  • New credit inquiries

If you have a long history of managing other kinds of credit or debt effectively (your credit cards or car loans, for example), you’re more likely (statistically) to pay your mortgage. So, you’ll have a higher credit score, and that higher score can result in a lower mortgage interest rate.

Here’s what you need to know about credit scores, how they’re used in mortgage lending, and what score ranges actually mean.

Frequently asked questions

Your credit score is only one factor among many that lenders use to determine the interest rate they’ll offer. It’s not everything. But it does have a fairly significant impact on your interest rate.

Here’s an example from June 2025. Using TrueRate data on 30-year fixed rate mortgages, we held the home price, location, and down payment consistent, but adjusted the credit score to see how much of an impact it had on good interest rates.

Credit scoreGood interest rate rangeBad interest rate range
580 - 619 (low credit)580 - 619 (low credit)More than 6.92%More than 7.54%
620-639 (fair credit)620-639 (fair credit)6.92% - 7.25%7.54% - 7.74%
640-659640-6596.88% - 7.23%7.47% - 7.67%
660-679660-6796.85% - 7.15%7.39% - 7.57%
680-699680-6996.82% - 7.07%7.33% - 7.50%
700-719 (good credit)700-719 (good credit)6.78% - 7.0%7.28% - 7.45%
720-739720-7396.72% - 6.94%7.21% - 7.37%
740-759 (very good credit)740-759 (very good credit)6.68% - 6.88%7.12% - 7.27%
760-779760-7796.62% - 6.83%7.05% - 7.20%
780+ (excellent credit)780+ (excellent credit)6.6% - 6.79%7.00% - 7.15%

As you can see, a better credit score can improve the interest rate range, but it’s not a transformative difference. Once you’re within the qualifying credit range for a conventional mortgage, choosing the right lender can be far more valuable than trying to boost your credit score slightly. For example, in the same scenario above, someone with excellent credit could go to an overpriced lender and get a 7.15% interest rate. Someone with lower credit (620), could go to a good priced lender and actually get a better interest rate (6.92%).

Also note that once you’re in the “very good” credit range (typically 780+), you won’t necessarily get a better mortgage rate if you had a score of 800.

FICO (Fair Isaac Corporation) is the most widely used credit scoring system in the mortgage industry. While there are other models (like VantageScore), FICO Scores are the gold standard for mortgage lenders.

There are actually multiple versions of FICO, but most lenders use either FICO Score 2, 4, or 5, depending on the credit bureau (Experian, TransUnion, or Equifax).

When you apply for a mortgage, lenders often pull a “tri-merge” credit report with all three scores—and typically use the middle score to make their decision.

Tip: Most conventional loans require a minimum score of 620. FHA loans can go as low as 580 (or 500 with a larger down payment), but come with added fees.

Yes, you can do things right away to improve your credit score—and it’s often worth it. Steps like:

  • Paying down credit card balances
  • Making on-time payments
  • Disputing credit report errors
  • Avoiding new hard inquiries

Even a 20–40 point increase can get you into a better pricing tier. You can also explore programs like HomeReady or Home Possible, which may be more flexible for buyers with moderate credit scores.

Florida’s housing market is looking promising

With interest rates on 30-year conforming loans gradually decreasing, buying a home in the Sunshine State is starting to feel more realistic. Lower rates mean more affordable monthly payments, giving you better options without pushing your budget to the limit.

Florida’s housing market has a lot of variety. If you’re aiming for places like Miami or Fort Lauderdale, expect higher prices—that’s the tradeoff for living near the beaches, nightlife, and all the excitement South Florida offers. But thanks to improving interest rates, even these more expensive areas are becoming slightly more accessible. If you’re open to exploring other cities, places like Tampa, Orlando, and Jacksonville offer great homes at more affordable prices, with growing neighborhoods and less intense competition.

Prefer something quieter? Florida has plenty of charming towns and suburbs where you can still find spacious, budget-friendly homes. Whether you’re drawn to a relaxed coastal community along the Gulf of Mexico or a peaceful area outside Orlando, many of these locations offer bigger yards, more space, and maybe even that dream backyard pool to beat the Florida heat.

For first-time buyers, Florida also provides helpful programs to ease the path to homeownership. From down payment assistance to more favorable loan terms, these resources can make buying your first home less overwhelming and more affordable.

Whether you’re looking for beach vibes, vibrant city life, or a slower pace inland, Florida has something for everyone. With mortgage rates improving and a wide range of housing options, now is a great time to start your search and find the perfect fit for your Florida lifestyle.