Florida buyer closing costs: build the cash-to-close number

Separate down payment, costs, and credits

For planning, start with down payment plus buyer-paid loan and settlement charges, prepaid expenses, and initial escrow deposits. Then account for the deposit already paid and applicable credits or adjustments. Use the lender's Cash to Close table to reconcile the actual amount; a simple worksheet cannot capture every financing structure.

Costs paid before closing, such as an inspection or appraisal, still belong in your purchase budget. Avoid counting them again as unpaid closing-day charges.

The buyer-cost worksheet

• Loan charges: origination, points, underwriting, appraisal, credit report, and other lender-required services shown on the Loan Estimate.
• Title and settlement: closing services, lender's title coverage, any buyer-paid owner's policy, survey, recording, and document charges quoted for the transaction.
• Florida loan taxes: applicable mortgage documentary stamp tax and nonrecurring intangible tax.
• Prepaids: interest and insurance premiums required for the chosen closing date and loan.
• Escrow deposits: reserves the lender requires for future tax and insurance payments.
• Property-specific items: association application or transfer charges, inspections, brokerage compensation you agreed to pay, and prorations or other contract adjustments.
• Credits: earnest money, eligible seller credits, lender credits, and approved assistance shown in the final accounting.

Request a written amount and who pays each line. Allocation depends on the contract and financing. The Florida Realtor-fee guide explains why brokerage compensation needs its own written agreement.

Two Florida mortgage taxes to check

Florida DOR lists mortgage documentary stamp tax at $0.35 per $100 or fraction of the secured indebtedness, with no cap on a recorded mortgage. The separate nonrecurring intangible tax is 0.002 times the taxable obligation secured by Florida real property. DOR identifies the lender as liable for intangible tax and allows it to pass the charge to the borrower.

Illustration: a straightforward taxable $300,000 mortgage produces $1,050 of mortgage documentary stamps and $600 of intangible tax, totaling $1,650. This example excludes recording, lender, title, insurance, escrow, and other charges. Exemptions, multiple collateral, refinances, and unusual structures need the closing professional's calculation.

Deed transfer tax is a different charge. Check its allocation in your contract and see the seller closing-cost guide for the Florida and Miami-Dade deed-tax distinctions.

Compare loan offers using the same assumptions

The Loan Estimate separates origination charges, services you can and cannot shop for, taxes, prepaids, and initial escrow. Compare offers for the same loan amount, loan type, rate-lock conditions, and closing date. Lower upfront charges can accompany a higher interest rate, and points can change both the initial cost and monthly payment.

Ask which providers you can choose and whether the quotes include the same services. Use a current address-specific insurance quote and a post-purchase tax estimate; the seller's current tax bill may reflect exemptions or assessment limits you will not inherit.

Reconcile the final amount before moving funds

For most covered mortgages, the lender must provide the Closing Disclosure at least three business days before closing. Compare it with your latest Loan Estimate and ask the lender or closing agent about changed charges, credits, deposit accounting, and the final cash needed.

A cash buyer still has settlement costs, but does not have mortgage origination charges or mortgage taxes for a loan that does not exist. Request the closing agent's itemized settlement estimate rather than assuming the mortgage disclosure process applies.