Closing Costs in Florida
The average closing cost in Florida is $19,842, which is 4.9% of the home price. Florida's transfer tax rate is $0.70 per $100.
Avg Closing Costs
$19,842
As % of Price
4.9%
Transfer Tax
0.7%
Attorney Required
Yes
Closing Cost Breakdown for a $405,280 Home
| Item | Estimated Cost |
|---|---|
| Loan Origination Fee (1%) | $3,242 |
| Appraisal Fee | $500 |
| Credit Report | $50 |
| Title Search & Insurance | $2,026 |
| Transfer Tax | $2,837 |
| Recording Fees | $150 |
| Home Inspection | $400 |
| Survey | $350 |
| Attorney Fee (required) | $1,200 |
| Prepaid Property Tax (2 months) | $500 |
| Prepaid Homeowners Insurance (1 year) | $1,216 |
| Prepaid Interest (15 days) | $866 |
| Estimated Total | $13,337 |
* Estimates based on average Florida home price of $405,280 with 20% down payment. Actual costs may vary. Transfer tax, attorney fees, and prepaid items are state-specific.
How to Reduce Closing Costs in Florida
Negotiate Seller Concessions
Ask the seller to cover part of your closing costs. In Florida, sellers can typically contribute up to 3-6% of the sale price toward buyer closing costs.
Shop Multiple Lenders
Origination fees and lender charges vary significantly. Get Loan Estimates from at least 3 lenders and compare the “Loan Costs” section.
Use First-Time Buyer Programs
Florida offers programs like Florida Assist Second Mortgage that can help with closing costs.
Close at End of Month
Closing near the end of the month reduces the prepaid interest charges, which can save you hundreds of dollars.
Legal Context for Florida Closings
Conveyance Document
Warranty deed
Security Instrument
Mortgage
Foreclosure Process
Judicial
Attorney Required
Yes
Florida uses warranty deed for property transfers and mortgage as the security instrument. An attorney is required at closing, which adds to your closing costs.
