Who pays what in Florida
Florida custom: seller pays doc stamps on the deed and (in most counties) the owner's title policy. Buyer pays the 0.2% intangible tax on the new loan plus lender fees.
Closing costs by county in Florida
Rates and medians vary widely inside Florida. County-level breakdowns: Miami-Dade County (Miami) — 1.02% effective property tax, median $600,000; Broward County (Fort Lauderdale) — 1.05% effective property tax, median $545,000; Orange County (Orlando) — 0.95% effective property tax, median $415,000.
The intangible tax nobody mentions
Florida levies a one-time intangible tax of 0.2% on new mortgage debt — $660 on a $330K loan — plus a $0.35/$100 doc stamp on the note. Budget roughly 0.35% of the loan for Florida-specific mortgage taxes on top of standard lender fees. Insurance prepaids run high: Florida's homeowners-insurance market means 12 months upfront can exceed $3,000.
Negotiation levers in Florida
Three moves that actually work: (1) get Loan Estimates from 3 lenders — origination and points vary by thousands; (2) ask for seller concessions (3% conventional under 10% down, 6% above, 6% FHA) credited at closing; (3) close at month-end to shrink prepaid interest from ~30 days to ~2. In Florida, transfer-tax custom is negotiable too — everything is a contract term.
FAQ
How much are closing costs in Florida?
Budget 2–4% of the purchase price for buyer closing costs in Florida, plus your down payment. On the $410,000 median Florida home that's roughly $10,250–$16,400. FL doc stamps ($0.70/$100) are seller-paid by custom; buyers pay intangible tax on new mortgages: 0.2% of the loan.
Does the buyer pay transfer tax in Florida?
No — Florida transfer taxes are seller-customary (or don't exist). FL doc stamps ($0.70/$100) are seller-paid by custom; buyers pay intangible tax on new mortgages: 0.2% of the loan.
Can I roll closing costs into the loan in Florida?
Not directly, but you can trade a slightly higher rate for a lender credit that covers costs, or negotiate seller concessions. The break-even on a lender credit is typically 3–5 years — only worth it if you'll sell or refinance before then.
How much should I save to buy a house in Florida?
Down payment + closing costs + 2–3 months of reserves. On the Florida median $410,000 home with 10% down, that's roughly $53,300 before reserves — the calculator above gives your exact stack.
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