Florida closing costs for buyers
What a Florida buyer pays at closing: the stamp and intangible taxes, title insurance at state-set rates and lender fees, worked out for one home.
The short answer
Florida's deed stamps are $0.70 per $100 of the price ($0.60 in Miami-Dade)16. A mortgage adds note stamps of $0.35 per $100 of the loan and an intangible tax of 2 mills; the lender may pass that tax on to you579. On a $400,000 home outside Miami-Dade with a $320,000 loan, the three taxes come to $4,560. Title premiums follow a state rule, and your contract says who pays what1317.
On this page
Closing costs are the upfront costs of getting your loan and taking ownership of the home18. In Florida they include the state's taxes on the deed and the loan, title insurance, the title agent's services, your lender's charges, and items paid ahead, such as insurance17.
Florida sets its taxes and its title premiums to the dollar, so they can be worked out before you sign. This guide works them out for one illustrative purchase, links each rate to the law behind it, and shows which costs your contract or your lender decides.
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What closing costs does a buyer pay in Florida?
Four kinds. Florida law sets the taxes and the title insurance premiums to the dollar; your lender, the title agent and your purchase contract shape the rest.
- The state's taxes. Deed stamps on the price, and with a mortgage, note stamps and the intangible tax on the loan157. The county clerk also charges a recording fee by the page10.
- Title insurance and title services. Florida sets the premiums for the owner's and the lender's policies by rule, and they apply throughout the state1113. The title search and the closing are charged separately12.
- Your lender's charges, such as the origination fee, the appraisal and the credit report, listed on your Loan Estimate20.
- Prepaid items, such as homeowner's insurance, property taxes and the interest until your first payment is due17.
Paying cash leaves out everything tied to a loan: the note stamps, the intangible tax, the lender's title policy and the lender's charges57. The deed stamps, the owner's policy and the title services remain.
How much are doc stamps and the intangible tax?
Deed stamps are $0.70 per $100 of the price outside Miami-Dade, note stamps $0.35 per $100 of the loan, and the intangible tax 2 mills, or $2 per $1,000 of the loan157. All three are paid to the county clerk when the deed and the mortgage are recorded386.
Deed stamps are Florida's documentary stamp tax on the deed. They're charged on the consideration, the price paid for the home, including any mortgage that stays on it1. Each $100, or part of $100, counts in full6.
Miami-Dade is the exception. There the rate is $0.60 per $100, plus a surtax of $0.45 per $100 unless the deed conveys only a single-family residence, which can be a condo unit, a co-op unit or a detached house624.
Note stamps are the documentary stamp tax on your loan. On a mortgage recorded in Florida, they're $0.35 per $100 of the debt it secures5. The law caps the tax on a note alone at $2,450, but the tax on a recorded mortgage has no cap56.
The intangible tax is a one-time tax of 2 mills, $2 for every $1,000, on a loan secured by a mortgage on Florida property7. The lender is the taxpayer, and it may pass the tax on to you9.
Recording fees are what the county clerk charges to put the deed and the mortgage in the public record. Florida law sets the most a clerk may charge by the page: $10 for the first page and $8.50 for each page after it, the records and court technology charges included10.
| Charge | Rate | Set by |
|---|---|---|
| Deed stamps, on the price | $0.70 per $100 | Fla. Stat. §201.021 |
| Deed stamps in Miami-Dade | $0.60 per $100 | Department of Revenue6 |
| Miami-Dade surtax, unless the deed conveys only a single-family residence | $0.45 per $100 | Fla. Stat. §201.031 and §125.0167; Department of Revenue246 |
| Note stamps, on a mortgage loan | $0.35 per $100 | Fla. Stat. §201.085 |
| Intangible tax, on a mortgage loan | 2 mills ($2 per $1,000) | Fla. Stat. §199.1337 |
| Recording, per document | $10 first page, $8.50 each page after | Fla. Stat. §28.2410 |
For the stamps, each $100 or part of $100 counts in full6. The recording fees are the most a clerk may charge10.
- $250,000 home$2,850Deed stamps $1,750, note stamps $700, intangible tax $400
- $400,000 home$4,560Deed stamps $2,800, note stamps $1,120, intangible tax $640
- $600,000 home$6,840Deed stamps $4,200, note stamps $1,680, intangible tax $960
- $800,000 home$9,120Deed stamps $5,600, note stamps $2,240, intangible tax $1,280
What the taxes come to on a $400,000 home
On an illustrative $400,000 home bought with a $320,000 loan, Florida's three taxes come to $4,560, outside Miami-Dade157. The deed stamps are the largest part, and your contract says which side pays them.
Price$400,000
Loan, 80% of the price$320,000
Taxed onTax
Deed stamps, $0.70 per $100$400,000$2,800
Note stamps, $0.35 per $100$320,000$1,120
Intangible tax, 2 mills$320,000$640
Florida's taxes on the purchase$4,560
What the $4,560 of taxes is made of. $4,560 4,560 dollars. Deed stamps, 2,800 dollars, 61%. Note stamps, 1,120 dollars, 25%. Intangible tax, 640 dollars, 14%.
| Segment | Value | Share |
|---|---|---|
| Deed stamps | 2,800 dollars | 61% |
| Note stamps | 1,120 dollars | 25% |
| Intangible tax | 640 dollars | 14% |
In Miami-Dade, the deed stamps at the same price would be $2,400, at $0.60 per $100. On a deed for anything but a single-family residence, such as a vacant lot, the surtax would add $1,80062.
Recording fees depend on how many pages the deed and the mortgage run to. Ask the closing agent for the count.
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What title insurance costs in Florida
Florida sets title insurance premiums by rule, and the rates apply throughout the state11. An original policy costs $5.75 per $1,000 of coverage up to $100,000, then $5.00 per $1,000 up to $1 million, with lower rates above that and a $100 minimum13.
Title insurance covers loss from defects in the title, such as liens or other claims against the home from before you bought it1516. The lender's policy protects the amount your lender lends, and most lenders require one. The owner's policy protects you, and buying it is optional; the Loan Estimate labels it “(optional)”1620. The rule has the owner's policy issued for the home's full insurable value, and the lender's for at least the full loan13.
Bought at the same time as the owner's policy, the lender's policy takes the simultaneous-issue rate, up to the owner's policy amount13.
“The rate for the mortgage policy or policies so simultaneously issued will be a minimum $25.00 for an amount of insurance not in excess of the owner’s policy.”
On the $400,000 home, that's $2,075 for the owner's policy and $25, the rule's minimum, for the lender's policy on the $320,000 loan: $2,100 for both, before endorsements13. Endorsements add coverage to a policy and are priced on top under a separate rule, at least $25 each for common ones such as the condominium and planned unit development endorsements, itemized on the closing statement14.
A lower reissue rate can apply when the seller's own owner's policy took effect less than 3 years before yours: $3.30 per $1,000 up to $100,000, then $3.00 per $1,000 up to $1 million13. The title agent needs a copy of the seller's policy, and coverage above that policy's amount is charged at the original rate13. On $400,000, with a seller's policy of at least that amount, the owner's premium would be $1,230.
The premium covers the insurance itself and the work to decide whether the title can be insured and to issue the policy. The title search and the closing can be charged separately12. The state doesn't set those charges, but they must cover at least their actual cost, and the closing statement shows them apart from the premium13.
On your Loan Estimate and Closing Disclosure
In the example, the Closing Disclosure shows $425 for the owner's policy and $1,675 for the lender's, and so does the Loan Estimate if you're paying for the owner's policy; the total is the same $2,100. Federal rules list the lender's policy at its full premium, and the owner's policy as its premium plus the simultaneous $25, less that full premium2021.
| Policy | Florida's rule | Loan Estimate and Closing Disclosure |
|---|---|---|
| Owner's policy, $400,000 | $2,075 | $425 |
| Lender's policy, $320,000 | $25 | $1,675 |
| Both | $2,100 | $2,100 |
Illustrative. The forms show the lender's policy at its full rate, $1,675 on $320,000, and the owner's as $2,075 plus $25, less $1,675132021.
The CFPB notes that a closing agent's itemized title costs can differ from the forms, and that alone doesn't mean a wrong charge16. If your contract splits the title costs with the seller, ask the closing agent how the split shows on each form.
Who pays which closing cost?
Your purchase contract decides, along with your loan. Florida law sets how much the deed stamps and the title premiums are, but not whether the buyer or the seller pays them11317.
A co-op apartment is the exception for the stamps. The tax on the document that gives you the right to occupy the unit is the purchaser's by law1.
“All parties to the document are liable for the tax regardless of which party agrees to pay the tax.”
So the state collects either way, and the split between you and the seller is a matter for your contract. The intangible tax is the lender's, and your loan terms say whether it passes to you9.
| Cost | Amount set by | Who pays, set by |
|---|---|---|
| Deed stamps | State law, $0.70 per $100 of the price1; $0.60 in Miami-Dade, per the Department of Revenue6 | Your contract6 |
| Note stamps | State law, $0.35 per $100 of the loan5 | Your contract and your loan6 |
| Intangible tax | State law, 2 mills on the loan7 | Your lender, which may pass it on to you9 |
| Recording fees | State law, by the page10 | Your contract |
| Owner's title policy | State rule, on the price13 | Your contract |
| Lender's title policy | State rule, on the loan13 | Your lender and your contract16 |
| Title search, examination and closing | The title agent, at no less than cost13 | Your contract |
| Origination, appraisal and credit report | Your lender20 | Your loan |
Who pays is a term of your agreements: the contract with the seller, and your loan17. The state holds every party to a deed or mortgage liable for its stamps, whoever agreed to pay6.
A credit toward your closing costs, from the seller or from your agent's brokerage, is a term of your agreements as well. How a commission credit works at closing explains the limits your lender may set on it.
Where to find your lender's costs
On your Loan Estimate and your Closing Disclosure. Your lender must send the Loan Estimate within three business days of your application, and you must receive the Closing Disclosure at least three business days before closing19.
The Loan Estimate lists the lender's own charges, such as origination and underwriting fees. Then come the services it requires from others, such as the appraisal, the credit report and the lender's title policy20.
Florida's taxes sit under Taxes and Other Government Fees. Taxes based on the price or the loan amount are listed as transfer taxes, and recording fees on a line of their own20. The Loan Estimate shows only the transfer taxes you pay; any the seller pays appear on the Closing Disclosure20.
Within 3 business days of applying
Loan Estimate
The lender's estimate of your closing costs and cash to close.
3 business days before closing (key date)
Closing Disclosure
The final figures. Check each line against your Loan Estimate.
At closing
You pay the cash to close
Usually by wire transfer or cashier's check.
At recording
The clerk collects the taxes
The deed stamps, note stamps and intangible tax are paid to the clerk when the deed and the mortgage are recorded.
Ask more than one lender for a Loan Estimate, and compare them line by line18. Paying cash? There's no Loan Estimate or Closing Disclosure19. Ask the closing agent for a statement of your costs.
Prepaids, prorations and condo fees
Some of what you pay at closing isn't a fee. Prepaid items are paid ahead of your first mortgage payment: the interest up to it, and charges your lender requires at closing, such as homeowner's and flood insurance premiums and property taxes due within 60 days2017. Your lender may also collect a starting balance for your escrow account, listed as the initial escrow payment at closing20.
Your contract can split the year's property tax with the seller. How property taxes are prorated at closing explains how the split works and where it shows on your Closing Disclosure. For the bills after that, see property taxes after you buy.
Buying a condo? What to know before you buy a condo covers the association's estoppel certificate, its statement of what's owed on the unit, and the fee for it.
Questions buyers ask
It depends on the price, the loan and your contract. Florida's taxes are set by law: on a $400,000 home with a $320,000 loan, outside Miami-Dade, the deed stamps, note stamps and intangible tax come to $4,560. The two title policies, bought together, cost $2,100 at the state's rates, before endorsements. Your Loan Estimate adds the lender's charges and prepaid items, and your contract says which side pays what.
Whichever side your contract says. Florida law sets the rate at $0.70 per $100 of the price, and the Department of Revenue gives Miami-Dade's as $0.60. Neither says who pays, except on a co-op apartment, where the law puts the tax on the purchaser. The Department of Revenue holds every party to the deed liable for the tax, whoever agreed to pay it. Ask your closing agent how your contract assigns it.
It's $0.35 per $100 of the loan, paid when the mortgage is recorded. On a $320,000 loan that's $1,120. A recorded mortgage has no cap; the $2,450 cap applies to a note on its own. The intangible tax comes on top, at 2 mills, or $2 per $1,000 of the loan: $640 on the same loan.
A one-time state tax of 2 mills, $2 for every $1,000, on a loan secured by a mortgage on Florida property. It's paid to the county clerk when the mortgage is recorded. The lender is the taxpayer but may pass the tax on to you. If it does, the tax shows on your Loan Estimate among the transfer taxes.
Your contract says who pays for the owner's policy, and most lenders require a lender's policy. The premiums are set by state rule: $5.75 per $1,000 of coverage up to $100,000, then $5.00 per $1,000 up to $1 million. Bought with the owner's policy, the lender's policy costs a minimum of $25 up to the owner's policy amount. The title search and the closing are charged on top.
The deed stamps still apply, and your contract says which side pays them. Note stamps and the intangible tax are taxes on a mortgage loan, so a cash purchase has neither. A cash buyer also skips the lender's title policy and the lender's charges, and gets no Loan Estimate or Closing Disclosure, so ask the closing agent for a statement of the costs.
Sources
Primary sources only: the statutes, rules and agency documents each figure comes from.
- 1.Fla. Stat. §201.02, Tax on deeds and other instruments relating to real property
The Florida Senate · flsenate.gov · checked
- 2.Fla. Stat. §201.031, Discretionary surtax
The Florida Senate · flsenate.gov · checked
- 3.Fla. Stat. §201.01, Documents taxable, generally
The Florida Senate · flsenate.gov · checked
- 4.Fla. Stat. §125.0167, Discretionary surtax on documents
The Florida Senate · flsenate.gov · checked
- 5.Fla. Stat. §201.08, Tax on promissory or nonnegotiable notes and written obligations to pay money
The Florida Senate · flsenate.gov · checked
- 6.Florida Documentary Stamp Tax
Florida Department of Revenue · floridarevenue.com · checked
- 7.Fla. Stat. §199.133, Levy of nonrecurring tax
The Florida Senate · flsenate.gov · checked
- 8.Fla. Stat. §199.135, Due date and payment of nonrecurring tax
The Florida Senate · flsenate.gov · checked
- 9.Nonrecurring Intangible Tax
Florida Department of Revenue · floridarevenue.com · checked
- 10.Fla. Stat. §28.24, Service charges
The Florida Senate · flsenate.gov · checked
- 11.Fla. Stat. §627.782, Adoption of rates
The Florida Senate · flsenate.gov · checked
- 12.Fla. Stat. §627.7711, Definitions
The Florida Senate · flsenate.gov · checked
- 13.Fla. Admin. Code R. 69O-186.003, Title insurance rates
Florida Administrative Code · flrules.org · checked
- 14.Fla. Admin. Code R. 69O-186.005, Premium Schedule Applicable to “Truth in Lending” and Other Endorsements
Florida Administrative Code · flrules.org · checked
- 15.Title insurance
Florida Office of Insurance Regulation · floir.gov · checked
- 16.What is owner's title insurance?
Consumer Financial Protection Bureau · consumerfinance.gov · checked
- 17.What fees or charges are paid when closing on a mortgage and who pays them?
Consumer Financial Protection Bureau · consumerfinance.gov · checked
- 18.Loan Estimate explainer
Consumer Financial Protection Bureau · consumerfinance.gov · checked
- 19.12 CFR §1026.19, Certain mortgage and variable-rate transactions, with its official interpretation
Consumer Financial Protection Bureau · consumerfinance.gov · checked
- 20.12 CFR §1026.37, Content of disclosures (Loan Estimate), with its official interpretation
Consumer Financial Protection Bureau · consumerfinance.gov · checked
- 21.12 CFR §1026.38, Content of disclosures (Closing Disclosure), with its official interpretation
Consumer Financial Protection Bureau · consumerfinance.gov · checked
General information about Florida law, not legal or tax advice. For your home, ask your county's property appraiser, a tax professional or your Comped agent.
What changed
When a law, a rule or a county's figures change, we update the guide and note it here.
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