What Florida Buyers Need to Know About Closing Costs
What Florida Buyers Need to Know About Closing Costs
You’ve saved for a down payment, got your pre-approval, and found the perfect Florida home. But before you pop the champagne, there’s one more important budget item: closing costs.
What Are Closing Costs?
Closing costs are the fees and expenses you pay to finalize your home purchase. They cover everything from title services to lender fees to government charges.
They are separate from your down payment.
How Much Are Closing Costs in Florida?
For most Florida buyers, closing costs range from 2% to 5% of the purchase price.
Example:
Home Price: $400,000
Estimated Closing Costs (3%): $12,000
Factors that affect cost include:
- Property taxes and prepaid insurance
- Type of loan (FHA, VA, Conventional)
- Title insurance and settlement fees
What’s Typically Included in Florida Closing Costs?
- Loan origination and underwriting fees
- Appraisal fee
- Credit report fee
- Title search and title insurance
- Escrow fees
- Prepaid property taxes
- Homeowners insurance premiums
- Recording fees and doc stamps
Who Pays What in Florida?
In most Florida counties:
- Buyers pay most lender-related and insurance fees
- Sellers usually pay owner’s title insurance and doc stamps on the deed
Note: Some counties like Miami-Dade flip the script—sellers may NOT pay doc stamps.
Can Closing Costs Be Rolled Into the Loan?
Yes, in some cases. If you’re buying a home with low cash reserves, your lender may allow some closing costs to be rolled into the mortgage.
But this increases your monthly payment and total interest over time.
Tips to Reduce Your Closing Costs
- Ask the seller for closing cost credits (common in slower markets)
- Shop lenders for better rate + fee combinations
- Get quotes on title insurance (you can shop this)
- Consider no-closing-cost mortgage options (with higher rate)
Final Advice
Closing costs are normal—and totally manageable with the right plan.
📞 Call Michael Renick at 941.400.8735 for a detailed Florida buyer estimate before making your next move.
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