The five lines in a monthly cost
A home costs you five things each month, and the mortgage is only the first one.
| Line | What it is | Who gives you the number |
|---|---|---|
| Mortgage | Your loan payment. The price, your down payment, the rate and the term set it. | Your lender. |
| Property tax | A yearly county tax based on the value of your home. Many lenders collect it with your mortgage payment. | Your lender's estimate, or the county property appraiser's office. |
| Home insurance | Covers repair or rebuilding after damage. Flood insurance is a separate policy, and whether you need it depends on the address. | An insurance agent, with a quote for the exact address. |
| HOA fee | Paid to the community association for shared amenities, landscaping and upkeep. | The association, or ask us for the current figure. |
| CDD or district fee | Many Florida master-planned communities use a district to pay for roads, ponds and amenities. The fee appears on your county tax bill. | The district's published schedule, or ask us for the current figure on a specific home. |
Two homes at the same price can have different monthly costs because of the last four lines. Compare the whole picture, not the price alone.
What you pay at closing
Closing day brings two separate amounts. The first is your down payment. The second is closing costs, which cover lender fees, title and recording, state transfer taxes, and the first payments into your tax and insurance account.
Your lender gives you a written estimate early in the process, and a final statement before closing. Read both line by line, and ask about anything you do not recognize.
Who pays which cost can differ between a builder contract and a resale sale. Ask us how our purchase agreement handles it. [to confirm: which closing costs a Cardel Florida purchase agreement assigns to the buyer]
Some communities also have a one-time fee at closing, such as a capital contribution to the association. Ask about it for the specific community. [to confirm: one-time association or district fees at closing, by community]
Two things that work differently on a new home
- Your first property tax bill may be lower than later ones. Florida values property on January 1. A home finished later in the year may be billed on the lot alone the first time. Budget on a full-year figure, and ask your lender or the county property appraiser how this applies to you.
- New homes are built to the current Florida Building Code. That often matters for insurance. Ask an insurance agent for a quote on the exact address before you sign, and ask which features of a new home earn credits.
When to talk to a lender
Before you tour, not after. A pre-approval is a lender's written view of what you can borrow. It turns a wish list into a budget, and it tells you which homes to look at.
When you talk to a lender, ask for an estimate that includes all five lines above, not just the mortgage. Ask what programs for first-time buyers are open right now. They exist at the state and county level, and they change often, so your lender is the right source.
If a financing incentive is offered on a home, ask your lender to show you the payment with it and without it, and for how long it lasts. [to confirm: whether Cardel Florida offers financing incentives, and how the region describes them]
The full list of questions to ask a lender is on the questions page.
Questions first-time buyers ask
How much do I need for a down payment?
It depends on the loan. Some loan types allow a small percentage of the price, and others ask for more. Your lender will tell you what each option means for your monthly payment. The down payment is separate from closing costs, so plan for both.
Can you tell me what my monthly payment would be?
We can give you the price and the current community fees for any home. Your lender turns those into a monthly payment, because the rate and the loan type are theirs to set. Ask them for an estimate that includes every line on this page.
Is the CDD fee on top of property tax?
It appears on the same county tax bill, as its own line. Some communities have one and some do not. Ask us for the current figure on the home you are considering, and give it to your lender.
Is there a payment calculator?
Not on this page, on purpose. A reliable estimate needs inputs that only a lender can confirm, such as your rate, your loan type and your insurance quote. A lender's written estimate is the version to trust.
Get real numbers for a real home
Pick a community and a home type, then ask a lender for an estimate that includes every line above. We will give you the community fees to pass along.
Internal review notes — what must be confirmed before this page publishes
- [to confirm] Which closing costs a Cardel Florida purchase agreement assigns to the buyer.
- [to confirm] One-time association or district fees payable at closing, by community.
- [to confirm] Whether Cardel Florida offers financing incentives, and how the region wants them described.
- Legal review: this page replaces the former monthly-cost calculator and the insurance, CDD/HOA and homestead pages. It names cost categories only, with no figures, rates, program names or tax calculations. Confirm it stays at that level.
- When the NEWS articles on insurance and on CDD and HOA fees are published, link them from the table on this page.