What the florida closing cost calculator tells you
Closing costs are the one-time fees and taxes paid to finalize a real estate purchase, on top of the down payment. In Florida many of them are set by statute or promulgated rate, so a good estimate is more arithmetic than guesswork — title insurance, documentary stamp taxes, and the intangible tax all follow fixed formulas.
This calculator splits the bill the way Florida deals actually do. Buyers cover items tied to the loan and recording; sellers, by Miami-Dade custom, typically cover the real estate commission and the deed documentary stamps on the sale price.
Run the numbers before you write or accept an offer on an off-market Miami home so the cash-to-close — or net proceeds — holds no surprises.
How it works
- Owner’s title insurance uses Florida’s promulgated rate: $5.75 per $1,000 on the first $100,000 of price, then $5.00 per $1,000 above that.
- Buyer loan taxes: documentary stamps on the mortgage note at $0.35 per $100 of the loan, plus the intangible tax at $2.00 per $1,000 of the loan.
- Buyer also pays lender origination plus flat items — appraisal, inspection, survey, recording — and prepaids (taxes and insurance) estimated at about 0.5% of price.
- Seller items: real estate commission, deed documentary stamps at the Miami-Dade rate of $0.60 per $100 of the sale price, settlement/closing fee, estoppel and recording, and prorated property taxes.
- The tool totals the relevant side so you see buyer cash-to-close or seller net costs.
Frequently asked questions
How much are closing costs in Florida?
For buyers, closing costs in Florida typically run about 2%–5% of the purchase price once you add title insurance, mortgage doc stamps, intangible tax, lender fees, and prepaids. On a $500,000 home that’s roughly $10,000–$25,000. Sellers usually pay more because their side includes the real estate commission.
Who pays closing costs in Florida, buyer or seller?
Both pay, but for different items, and it’s partly customary and partly negotiable. In Miami-Dade, the seller customarily pays the deed documentary stamps and (often) the owner’s title insurance, while the buyer pays loan-related costs like mortgage doc stamps, intangible tax, and lender fees. Who pays what can be negotiated in the contract.
What are doc stamps in Florida?
Documentary stamp tax is a Florida transfer tax. On the deed it’s charged on the sale price at $0.70 per $100 statewide, but Miami-Dade uses $0.60 per $100 (with a small surtax on non-single-family transfers). On the mortgage note, doc stamps are $0.35 per $100 of the loan amount, paid by the buyer.
How much is title insurance in Florida?
Florida sets owner’s title insurance by a promulgated rate: $5.75 per $1,000 on the first $100,000 of price and $5.00 per $1,000 above that. On a $500,000 home that’s about $2,575. A simultaneous lender’s policy is usually issued at a small additional flat fee.
Are closing costs included in the mortgage?
Not automatically — closing costs are normally paid in cash at the closing table, separate from the loan and the down payment. You can sometimes finance them by rolling certain costs into the loan or negotiating seller credits, but the default is that you bring them as part of your cash to close.
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