Own Luxury Homes®
Florida Closing Costs for Buyers: Documentary Stamp Tax Explained
Florida closing costs for buyers: Documentary stamp tax on deed: $0.35 per $100 ($1,225 on $350K purchase). Intangible tax on new mortgage: $0.002 per $1 of loan amount ($700 on $350,000 mortgage). Title insurance: state-regulated; simultaneous issue for buyer and lender. On $350K: owner's + lender's combined approximately $1,800-$2,200. No attorney required (title company). Total buyer closing costs: typically 2-3% of purchase price. Cash buyers: no intangible tax; lower total costs. Own Luxury Homes® FL BK3626873. 12-Point Agent Integrity Audit™.
Florida Closing Costs for Buyers: Documentary Stamp Tax Explained
Florida has a documentary stamp tax and an intangible tax on mortgages — two taxes that most buyers from other states don't expect. Here is the complete Florida buyer closing cost picture.
Documentary Stamp Tax on the Deed
The Florida documentary stamp tax (doc stamp) on the deed is assessed at $0.35 per $100 of the purchase price (or consideration). Examples: • $250,000 purchase: $875 in doc stamps • $350,000 purchase: $1,225 • $500,000 purchase: $1,750 • $750,000 purchase: $2,625 • $1,000,000 purchase: $3,500 Who pays: by custom in most Florida counties, the seller pays the doc stamp on the deed. However, this is negotiable and in Broward County (South Florida), the buyer traditionally pays. Additionally, there is a doc stamp on the mortgage/note: $0.35 per $100 of the mortgage amount. The borrower pays this on their mortgage at closing. Miami-Dade County surtax: Miami-Dade County charges an additional surtax of $0.45 per $100 on deeds for properties that are not single-family residences (applies to condos, commercial, etc.). Condos in Miami-Dade: $0.60 per $100 total rather than $0.35.
Intangible Tax on Mortgages
Florida charges an intangible tax on all new mortgage loans at $0.002 per $1 of the outstanding principal. Examples: • $200,000 mortgage: $400 in intangible tax • $350,000 mortgage: $700 • $500,000 mortgage: $1,000 • $750,000 mortgage: $1,500 The intangible tax is paid by the borrower at closing. Cash buyers: no mortgage, no intangible tax. Cash purchases in Florida are significantly cheaper in closing costs than financed purchases because neither the doc stamp on the note nor the intangible tax applies. Refinances: if refinancing with the same lender, the intangible tax may be partially exempt for the amount of existing unpaid principal being refinanced with the same lender.
Florida Title Insurance and Total Cost Estimate
Title insurance: Florida title insurance rates are state-regulated by the Florida Department of Financial Services. The promulgated rates are the same at every title company. On a $400,000 purchase: • Owner's policy: approximately $2,075 • Lender's policy (simultaneous issue with owner's): $25–$100 additional • Total both policies: approximately $2,100–2,175 Complete Florida buyer closing cost estimate on $400,000 (conventional financing, $360,000 mortgage): • Lender origination (0.75%): $2,700 • Title insurance (owner's + lender's): $2,150 • Doc stamp on mortgage ($360K): $1,260 • Intangible tax on mortgage: $720 • Appraisal: $550 • Survey (if required): $500 • Prepaid items (insurance, interest, escrow): $3,500 • Total: approximately $11,380 (2.8%)
“The doc stamp and intangible tax are the two closing costs that consistently surprise buyers coming from states without them. On a $500,000 purchase with a $450,000 mortgage: doc stamp on the deed $1,750 + doc stamp on the note $1,575 + intangible tax $900 = $4,225 in Florida-specific taxes at closing that don't exist in Texas or North Carolina. Knowing this number going in means it's budgeted; discovering it at the closing table is a much less comfortable experience.”
— Ryan Brown, Principal Broker & CEO, Own Luxury Homes®
What is the documentary stamp tax in Florida?
Florida's documentary stamp tax on deeds is assessed at $0.35 per $100 of the purchase price. Examples: $350,000 purchase = $1,225; $500,000 = $1,750; $1,000,000 = $3,500. By custom, the seller typically pays the doc stamp on the deed in most Florida counties (except Broward where the buyer pays). A separate doc stamp also applies to the mortgage note: $0.35 per $100 of the loan amount. Additionally, Florida charges an intangible tax on mortgages of $0.002 per $1 of loan amount. These Florida-specific taxes add $1,500-$5,000+ to closing costs compared to states without them.
How much are closing costs in Florida for buyers?
Florida buyer closing costs typically total 2-3% of the purchase price. Key costs: title insurance (state-regulated rates; owner's policy on a $400K home approximately $2,075), documentary stamp on mortgage ($0.35/$100 of loan), intangible tax on mortgage ($0.002 per $1 of loan), lender origination fees (0.5-1%), appraisal ($500-$700), and prepaid items (first year insurance, prepaid interest, initial escrow deposit). Cash buyers pay significantly less: no mortgage doc stamp, no intangible tax, no lender fees. For financed buyers, budget approximately 2.5-3% of purchase price.
Own Luxury Homes® — Florida's luxury and residential real estate experts since 2005. 12-Point Agent Integrity Audit™. Talk to a specialist ›
"The introduction Own Luxury Homes® makes is to a specialist with documented closing history in your specific market — not the county, not the metro, the submarket you're actually selling or buying in. That's the standard we verify before your name goes anywhere."
— Ryan Brown, Principal Broker & CEO, Own Luxury Homes® (FL License BK3626873)