KEY ITEMS INCLUDED IN COST SHEET

This estimate is an approximation and will vary depending on the mortgage company and closing agent used. For the purposes of this estimate, we are using an average cost for items to close, obtaining a 5% down conventional mortgage. Costs to the buyer represent the amount of money needed to purchase a property here in Florida.

  

• Purchase Price and Earnest Money Deposit (EMD) - Enter your estimated purchase price and the amount of deposit expected to be paid at contract signing. Your deposit will be calculated as a credit at the bottom.

• Cash Sale - Check if this is to be a cash sale. All charges based on the mortgage will be zeroed out at the bottom when this box is checked.

• Down Payment on Mortgage - Enter the amount of down payment expected to be paid when financing your home. You can enter a cash amount or a percentage, just use the dropdown box to change it.  

 

LOAN CHARGES (WILL BE ZERO ON CASH SALE)

• Lender Application Fee - Lender application fees typically range from $150 to $400 for mortgages. They are usually non-refundable and cover initial processing, credit reports.

• Loan Origination Fee - Loan origination fees are typically 0.5% to 1% of the loan amount. Lenders often charge the full 1% to cover administrative, underwriting, and loan processing costs.

• Discount Points - Discount points are prepaid interest, allowing borrowers to pay an upfront fee to buy down their interest rate, typically costing 1% of the total loan amount per point. One point usually reduces the interest rate by 0.125% to 0.25%, decreasing monthly payments over the life of the loan. 

• Appraisal Fee - A home appraisal usually ranges from $350 to $650 for a standard single-family home. This fee covers a professional assessment of a property's market value required for mortgage approval. 

• Survey Fee - A standard residential boundary survey ranges between $400 and $800, for a typical quarter-acre to half-acre lot. Prices vary based on lot size, accessibility, and terrain complexity. 

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CLOSING COSTS 

• Home Inspection Fee - A standard home inspection typically costs between $300 and $600, for average-sized homes (1,500–2,500 sq. ft.). Prices vary based on property size, age, and location. Specialized inspections (wind mitigation, 4-point, termites) often add $75–$150 each.​​

• Property Title Search - A critical, pre-closing examination of public records to verify a seller’s legal right to transfer ownership and ensure the property is free of undisclosed debts, liens, or restrictions (Cost varies between $100 and $300).

• Title Closing/Settlement Fee - is paid to the title company or attorney for facilitating the closing process (Cost varies between $500 and $1,000).

• HOA/Condo Application or Transfer Fee - HOA application or transfer fees in a Florida real estate closing generally range from $100 to $300 per association, although some communities may charge up to $500 or more. For Condos specifically, Florida law caps transfer fees at $150 per applicant. 

• Courier Fees - Courier fees for a buyer in a Florida real estate closing generally range from $30 to $50. These fees, which cover the transport of documents between lenders, title companies, and county records offices, are typically listed as a separate administrative line item in the closing statement, sometimes paired with wire transfer fees.

• Remote Online Notary (RON) Fees - These notary fees for real estate closings typically range from $100 to $250+ per loan package. Common charges include $185 for buyer/refinance packages and $100 for cash buyer packages, covering identity verification and digital signing.

• Recording Fees - are paid to the county clerk to record all closing documents which will become a part of public record (Cost varies between $50 and $250).

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TOTAL TITLE INSURANCE 

• Lender's Title Insurance Policy - A lender’s title insurance policy in Florida generally costs a flat fee of $800 for loan amounts up to $100,000 when issued simultaneously with an owner's policy. For higher loan amounts, the rate is regulated by the state and calculated based on a tiered structure, usually falling between $0.20% and $0.575% of the loan value, depending on the price.​

• Owner's Title Insurance Policy - In Florida, who pays for owner's title insurance is usually determined by local custom or negotiated in the contract. Generally, the seller pays for the owner's title policy in most of Florida, but in Miami-Dade, Broward, Collier, and Sarasota counties, the buyer typically pays for it at a cost of $5 per $1K.

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TOTAL TAXES 

• Doc Stamps on Note - Florida imposes a documentary stamp tax on promissory notes and written obligations to pay money executed or delivered in the state at a rate of 35 cents per $100 (or fraction thereof) of the loan amount. The tax on a promissory note is capped at a maximum of $2,450.

• Intangible Tax on Mortgage - Florida imposes a nonrecurring, one-time intangible tax on mortgages at a rate of 2 mills ($0.002) per dollar ($2 per $1,000) of the total loan amount secured by Florida real estate. This tax is paid when the mortgage is recorded, often as part of closing costs. It applies to new loans, but exemptions or reductions may apply to refinances.

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PREPAIDS 

• Homeowners Insurance - In Florida, buyers typically pay for a full year of homeowners insurance upfront at closing, which currently averages approximately $5,838 annually (roughly $486 per month), though costs vary widely based on home age, location, and condition. Prepaid insurance is collected, and lenders may require additional escrow deposits for insurance.

• Prepaid Interest - This amount represents the interest accruing on a new mortgage from the closing date until the end of the month. It is calculated daily based on the loan amount and interest rate, typically ranging from a few days to over a month of interest, and is part of the overall 2%–5% of purchase price in total closing costs.

• Escrow Reserves - Buyers typically pay 2–6 months of property taxes and homeowners insurance into an escrow reserve account. These prepaid, non-recurring closing costs are held by the lender to cover future payments, often totaling a few thousand dollars depending on the tax rate and insurance premiums.