Florida Assumable Mortgage Calculator
Taking over a seller’s 3% FHA or VA loan sounds like free money at today’s rates. The catch is the gap between the price and the loan balance. Enter the numbers from the listing and see the real monthly payment, the Florida taxes on each path and how long the assumption takes to pay off.
The home and the loan you would assume
Covering the gap
The new-loan alternative
New-loan rate defaults to the latest Freddie Mac 30-year average on this site.
Assume it or take a new loan?
How the math works
An assumption keeps the seller’s rate, balance and remaining term. Everything between that balance and the price is the gap, and you cover it with cash, a second mortgage, or both. The calculator adds the payment on the assumed loan, its mortgage insurance and the second mortgage, then compares that with a new 30-year loan using the same cash as the down payment. It also counts what each path costs at closing, including the two Florida taxes that apply to new mortgage debt.
Florida taxes on each path. A new note pays documentary stamp tax of $0.35 per $100 and the mortgage pays nonrecurring intangible tax of 0.2% (s. 201.08 and s. 199.133, Florida Statutes). On an assumption, those taxes apply to the new second mortgage. Whether any tax is owed on the assumption agreement itself depends on the documents signed and recorded, so ask your title agent; the calculator assumes none. The deed tax ($0.70 per $100, $0.60 for a Miami-Dade single-family home) is the same on both paths, because Florida counts a mortgage the buyer takes subject to as part of the price (s. 201.02(1)(a)). It is shown for reference; it is customarily paid by the seller in most Florida counties, and who pays is negotiable.
Fees. FHA lets servicers charge up to $1,800 to process an assumption (HUD increase reported by Inman, May 22, 2024). VA assumptions carry a 0.5% funding fee paid to the VA unless the buyer is exempt, plus a capped processing fee that runs about $636 to $763 depending on region (Veterans United, updated August 7, 2026; Inman, May 22, 2024). USDA fees vary by servicer, so enter your quote.
If you are weighing a builder rate buydown instead, run the buydown reset calculator. For the full list of Florida buyer costs at closing, use the buyer closing costs calculator, and for title insurance and deed stamps alone, the doc stamp and title insurance calculator. What it looks like on the ground in Northeast Florida: assumable mortgages in Jacksonville.
Common questions
Which mortgages can be assumed in Florida?
Government-backed loans: FHA, VA and USDA loans are generally assumable by a buyer who qualifies with the servicer. Most conventional loans have a due-on-sale clause, so they usually are not. Florida law does not change those loan rules; it only decides which taxes apply at closing.
How do I pay the gap on an assumable mortgage?
With cash, a second mortgage, or both. On a $400,000 home with a $270,000 balance, the gap is $130,000. If you bring $40,000, a second mortgage covers $90,000 at a higher rate, and that second loan is what usually decides whether the assumption still wins.
Do I pay Florida doc stamps and intangible tax on an assumed mortgage?
On a new second mortgage, yes: $0.35 per $100 of documentary stamp tax on the note and 0.2% intangible tax on the mortgage. Whether tax is owed on the assumption agreement itself depends on what is signed and recorded, so confirm with your title agent. The deed tax is the same either way because the assumed balance counts as part of the price.
What does an FHA or VA assumption cost in fees?
FHA caps the servicer’s assumption processing fee at $1,800. A VA assumption adds a funding fee of 0.5% of the balance unless the buyer is exempt, plus a capped processing fee of roughly $636 to $763 by region. Title, recording and inspection costs are similar to any purchase.
How long does a mortgage assumption take?
Usually longer than a new loan, because the servicer has to approve the buyer and process the transfer on its own schedule. Ask the servicer for its current processing time before you write the offer, and set the contract timeline and any rate lock on a second mortgage to match.
What happens to the seller’s VA entitlement?
It stays tied to the loan until it is paid off unless the buyer is an eligible veteran who substitutes their own entitlement. Sellers who want to buy again with a VA loan should ask about substitution of entitlement before agreeing to a non-veteran assumption.
Ready to look at homes? A Momentum Realty agent can check whether a listing’s loan is assumable and talk through how to structure the offer. Commissions are always negotiable. Start with the buyer guide or search homes for sale by city.
<a href="https://movewithmomentum.com/tools/florida-assumable-mortgage-calculator">Florida Assumable Mortgage Calculator: Gap, Payment and Taxes — Momentum Realty</a>Estimates only, for planning. Payments are principal and interest plus the mortgage insurance you enter; property tax, homeowners insurance and HOA dues are the same on both paths and left out. A new loan may also carry mortgage insurance, which is not added. Florida tax rates are from Chapters 199 and 201, Florida Statutes; whether tax applies to a specific assumption agreement depends on the documents, so verify with your title agent or closing attorney. Fee caps are from the sources cited above and can change; get the servicer’s written quote. Approval of any assumption is up to the loan servicer. Not a loan offer, not legal or tax advice. Updated November 10, 2026.