How Do You Read a Florida Closing Disclosure?

What the Closing Disclosure Contains

The CD is standardized nationwide under the TRID rule (TILA-RESPA Integrated Disclosure), which means every lender uses the same five-page layout. Understanding that layout helps you review it quickly and confidently.

Page 1 — Loan Terms and Projected Payments

The first page is the most important for most buyers. At the top, a shaded table shows your loan amount, interest rate, monthly principal and interest payment, and whether the rate or payments can increase. In today’s environment with rates generally ranging from 6.5% to 7%, the principal-and-interest figure on Page 1 is the number you’ll be budgeting around for the life of the loan.

Below that, the Projected Payments table breaks down what your monthly bill will look like in each phase of the loan, including escrow for property taxes and homeowners insurance if those are collected monthly by your servicer.

Page 2 — Closing Cost Details

Page 2 is where buyers often have questions. It separates costs into two main buckets:

• Loan costs — origination charges, underwriting fees, points (if any), appraisal, credit report
• Other costs — taxes, government recording fees, prepaids (homeowners insurance, prepaid interest), and initial escrow payments

Florida buyers will see Florida-specific line items here. Documentary stamp taxes on the mortgage note are calculated at $0.35 per $100 of the loan amount, and intangible tax on the new mortgage runs $0.002 per dollar of the loan balance. On a $360,000 mortgage, for example, intangible tax comes to $720. These are buyer-paid charges unique to Florida that frequently catch out-of-state buyers off guard.

Page 3 — Cash to Close and Transaction Summary

The Cash to Close figure on Page 3 is the exact amount you need to wire or bring as a cashier’s check to the closing table. It accounts for your down payment, all closing costs, any lender credits, and seller-paid concessions. This section also includes a side-by-side transaction summary showing the seller‘s side and your side of the ledger.

Pages 4 and 5 — Loan Disclosures and Contact Information

Page 4 covers important loan features you should read even if the numbers seem straightforward:

• Assumption — can a future buyer take over your loan?
• Demand feature — can the lender call the balance due early?
• Negative amortization — can your balance grow over time?
• Prepayment penalty — is there a fee for paying off early?
• Balloon payment — does a large lump sum come due at a specific date?
• Escrow account details — what is and isn’t escrowed, and projected shortfalls

Page 5 lists contact information for the lender, mortgage broker, real estate agents, and settlement agent (title company), along with signature lines.

What Is NOT in the Closing Disclosure

The CD covers your loan transaction. It does not capture every expense associated with buying a home. Knowing what’s absent helps you budget accurately so you’re not surprised in the days before closing.

• Moving costs — truck rental, movers, storage are entirely outside the CD
• Home warranty premiums paid directly by the buyer outside the transaction
• Inspection invoices paid out of pocket before closing — general home inspection, wind mitigation report, four-point inspection, WDO (termite) report
• HOA dues and fees that are billed directly rather than collected at closing — the CD may show an HOA capital contribution or transfer fee if those are closing-table items, but ongoing monthly dues are not
• Utility deposits and transfer fees you’ll arrange post-closing
• Furniture, appliances, or personal property covered under a separate bill of sale rather than the real estate contract

Ask your title company for a full pre-closing funds summary that accounts for these out-of-pocket items alongside your CD cash-to-close figure. That combined view is what you actually need to fund before signing day.

How to Compare the CD to Your Loan Estimate

When you received the Loan Estimate (LE) early in the transaction, it was an approximation. The CD represents final, binding numbers. TRID rules place strict limits on how much certain fees can change between the LE and CD — understanding those limits helps you catch lender errors quickly.

Zero-Tolerance Fees — Cannot Increase at All

These fees must be identical on the CD to what appeared on the LE (or the lender absorbs the overcharge):

• Lender origination charges and fees the borrower cannot shop for
• Transfer taxes (documentary stamp taxes, intangible tax in Florida)
• Fees for required third-party services where the borrower used the lender’s preferred provider list

Ten-Percent Tolerance Fees — Limited Increase

This category covers recording fees and third-party charges where you were allowed to shop from the lender’s list. These can increase by no more than 10% in aggregate from LE to CD. If the combined increase exceeds 10%, the lender must issue a lender credit to cover the overage.

No-Tolerance Fees — Can Change Without Limit

Prepaid interest, homeowners insurance premiums, and initial escrow payments have no cap on change because they’re driven by market rates and local tax assessments rather than lender pricing. That said, a major swing in these numbers still warrants a conversation with your lender.

What Triggers a Re-Disclosure?

Your lender must issue a revised CD — resetting the 3-business-day waiting period — if any of the following occur within three business days of closing:

• The APR increases by more than 0.125% (or 0.25% for adjustable-rate loans)
• The loan product changes (e.g., fixed-rate to adjustable-rate)
• A prepayment penalty is added

Changes that do not trigger re-disclosure — like a small credit from the seller or a minor escrow adjustment — take effect without restarting the clock, but you should still review any revised CD carefully before closing.

Common Closing Disclosure Errors Florida Buyers Find

Errors on the CD are more common than most buyers expect. Here are the items most frequently flagged by buyers and their agents in the Sarasota and Manatee County market:

• Wrong loan amount or interest rate — confirm these match your final rate lock confirmation
• Incorrect property tax proration — Florida property taxes are paid in arrears; the seller should credit you for the portion of the year they owned the home. Verify the proration date and millage rate are correct.
• Duplicate fees — occasionally an origination fee and an underwriting fee that are really the same charge appear under different labels
• Misspelled name or incorrect vesting — your name on the CD must match your government-issued ID and the way title will be held. A mismatch can delay disbursement.
• HOA estoppel amount off — if the seller’s HOA estoppel certificate arrived after the CD was prepared, the credit or payoff figure may be stale
• Florida documentary stamp or intangible tax calculated on wrong loan amount — especially common when there was a last-minute loan amount change

Flag any discrepancy with your title company and lender as soon as you spot it. Most corrections can be made before closing if caught early; corrections made at the table slow the process and, in some cases, require a new 3-day waiting period.

Florida-Specific Items to Confirm Before Closing Day

Beyond the standard TRID framework, Florida transactions carry a few additional line items that buyers should verify on their CD before arriving at the title company.

Documentary stamp tax on the deed is a seller-paid charge in most Florida transactions, calculated at $0.70 per $100 of the purchase price (or $0.60 per $100 in Miami-Dade). Confirm it appears on the seller’s side of the CD, not yours — unless your contract shifted that cost.

Title insurance — Florida uses a promulgated rate schedule. The owner’s title policy is typically a seller expense in Sarasota and Manatee County, while the lender’s title policy is a buyer expense. Verify which column each charge appears in and that the premiums match the state rate for your purchase price.

Flood insurance prepaid — if the home is in a FEMA Special Flood Hazard Area, the first year’s flood insurance premium will appear as a prepaid on your CD. With ongoing FEMA rate changes under Risk Rating 2.0, confirm the premium matches your insurance binder, not an outdated estimate.

In 2026, buyers in coastal Sarasota and Longboat Key are finding that flood and windstorm insurance premiums are materially higher than they were two years ago, making the prepaid and escrow lines on the CD larger than buyers accustomed to older rate sheets may expect. Review your insurance binder before the CD is finalized so there are no surprises in the escrow section.

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Frequently Asked Questions

What is a Florida Closing Disclosure and when do you receive it?

The Closing Disclosure is a federally required 5-page TRID form your lender must deliver at least 3 business days before you close on a Florida home. It locks in your final loan terms, itemizes every closing cost, and states your exact cash-to-close amount. Every lender uses the same standardized layout, so once you understand it, you can review it quickly and confidently.

How should Sarasota and Manatee County buyers compare the Closing Disclosure to the Loan Estimate?

Start by matching the loan amount, interest rate, and principal-and-interest payment on Page 1 to your Loan Estimate and rate lock. Then verify zero-tolerance fees like lender charges and Florida transfer taxes are identical, and that 10-percent-tolerance fees, such as recording fees and certain third-party services, haven’t increased by more than 10% in total. Any overage there must be covered by a lender credit.

What Florida-specific closing costs should buyers look for on the Closing Disclosure?

On Page 2, confirm the Florida documentary stamp tax on the mortgage note at $0.35 per $100 of the loan amount and the intangible tax at $0.002 per dollar of the loan balance; on a $360,000 mortgage, that intangible tax should show as $720. Also make sure the documentary stamp tax on the deed appears on the seller’s side, and that title insurance premiums are split correctly, with the owner’s policy typically on the seller in Sarasota and Manatee County and the lender’s policy on the buyer.

What common Closing Disclosure errors do Florida buyers in Sarasota and Manatee County need to watch for?

Double-check your loan amount, interest rate, and property tax proration, remembering that Florida property taxes are paid in arrears and the seller should credit you for their portion of the year. Look for duplicate fees, misspelled names or wrong vesting, incorrect HOA estoppel amounts, and Florida documentary stamp or intangible taxes calculated on the wrong loan amount. Flag any discrepancy with your lender and title company immediately so it can be corrected before closing day.

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