What Are My Closing Costs in FL?

Florida Closing Costs Explained: What Buyers Really Pay at Closing

A Simple Breakdown Using a $500,000 Purchase Price

One of the biggest surprises for homebuyers in Florida especially first-time buyers or those relocating from other states is closing costs. Florida has unique state and county taxes that can add up quickly if you’re not prepared.

Let’s break this down using a $500,000 purchase price with a $475,000 loan, so you can clearly understand what to expect—and avoid surprises at the closing table.

💰 The Big Florida Specific Costs (Most Buyers Don’t Expect These)

Documentary Stamp Tax on the Deed

• What it is: A state tax paid when ownership transfers
• Florida Rate: $0.70 per $100 of purchase price
• Estimated Cost: $3,500
  👉 Learn more: https://floridarevenue.com/taxes/taxesfees/Pages/doc_stamp.aspx

Documentary Stamp Tax on the Mortgage

• What it is: A tax on the loan amount
• Florida Rate: $0.35 per $100 of loan amount
• Estimated Cost: $1,662.50
  👉 Learn more: https://floridarevenue.com/taxes/taxesfees/Pages/doc_stamp.aspx

Intangible Tax on the Mortgage

• What it is: A one-time tax on the loan
• Florida Rate: 0.2% (2 mills)
• Estimated Cost: $950
  👉 Learn more: https://floridarevenue.com/taxes/taxesfees/Pages/nonrecurring_intangible_tax.aspx

Mortgage Recording Fees

• What it is: County fee to record your loan documents
• Typical Cost: $150 – $250
• Estimated Cost: $200

🏡 Title & Closing Costs

Lender’s Title Insurance

• What it is: Protects the lender from title defects
• Estimated Cost: $2,400
  👉 Learn more: https://www.consumerfinance.gov/ask-cfpb/what-is-lenders-title-insurance-en-163/

Owner’s Title Insurance

• What it is: Protects you as the homeowner
• Estimated Cost: $1,700
  👉 Learn more: https://www.consumerfinance.gov/ask-cfpb/what-is-owners-title-insurance-en-164/

Settlement Agent / Closing Fee

• What it is: Fee for coordinating and closing the transaction
• Estimated Cost: $700
  👉 Learn more: https://www.consumerfinance.gov/ask-cfpb/what-are-closing-costs-en-178/

Title Search

• What it is: Verifies ownership and checks for liens
• Estimated Cost: $200
  👉 Learn more: https://hillsboroughtitle.com/faq/

Survey

• What it is: Confirms property boundaries
• Estimated Cost: $500
  👉 Learn more: https://hillsboroughtitle.com/faq/

🏦 Lender & Loan-Related Costs

Loan Origination Fee

• What it is: Lender’s fee to process your loan
• Estimated Cost: $4,750
  👉 Learn more: https://www.consumerfinance.gov/ask-cfpb/what-are-mortgage-origination-services-what-is-an-origination-fee-en-155/

Discount Points (Optional)

• What it is: Prepaid interest to lower your rate
• Estimated Cost: $4,750 (if used)
  👉 Learn more: https://www.consumerfinance.gov/ask-cfpb/how-should-i-use-lender-credits-and-points-also-called-discount-points-en-136/  

Credit Report

• What it is: Cost to verify your credit profile
• Estimated Cost: $75
  👉 Learn more: https://www.consumerfinance.gov/ask-cfpb/what-is-a-credit-report-en-309/

📅 Prepaids & Escrow Setup (Often Overlooked)

Prepaid Interest

• What it is: Interest from closing date to first payment
• Estimated Cost: $1,000
  👉 Learn more: https://www.consumerfinance.gov/ask-cfpb/what-are-prepaid-interest-charges-en-161/

Escrow Account Setup

• What it is: Funds collected upfront for taxes and insurance

Includes:
• Property Taxes
• Homeowners Insurance
• Flood Insurance (if applicable)

• Estimated Cost: $6,000
  👉 Learn more: https://cadencebank.com/insights-and-articles/personal/understanding-mortgage-escrow-accounts

📊 Estimated Total Closing Costs

👉 Total Estimated: ~$22,900
👉 Typical Range in Florida: 4% – 5% of purchase price

🚀 Pro Strategy: Reduce Your Closing Costs

✔ Negotiate seller concessions
✔ Use builder incentives
✔ Structure your loan strategically

📞 Ready to See Your Exact Numbers?

Don’t guess… know.

👉 Call/Text: (813) 693-7222
👉 Get Pre-Approved
👉 Request a Custom Closing Cost Breakdown

Florida Closing Costs Explained