Florida buyer closing costs — full breakdown

Loan fees (if financed)

• Origination fee: 0.5–1.5 % of loan. Very negotiable. Typical foreign national 1 %.
• Discount points: 1 point = 1 % of loan paid upfront to lower rate. Optional.
• Application fee: $0–500.
• Underwriting fee: $0–1,200.
• Appraisal fee: $400–800.
• Credit report fee: $30–75.
• Tax service fee: $50–100.
• Flood determination: $15–30.

Typical foreign national total on $350,000 loan: $4,500 to $8,500.

Title and settlement

• Owner's title insurance: ≈ 0.5 % of price (FL regulated). On $500K = $2,575.
• Lender's title insurance: ≈ $25 supplement if simultaneous issue.
• Title search fee: $150–400.
• Settlement / closing fee: $300–800.
• Doc prep fee: $50–200.
• Recording fees: $50–150 for deed and mortgage.
• Wire fee: $25–50.

Typical total: $3,200 to $4,200.

Government taxes

• Documentary stamps tax on deed: 0.70 % of purchase price everywhere in FL except Miami-Dade (0.60 %).
• Documentary stamps tax on mortgage: 0.35 % of loan amount.
• Intangible tax on mortgage: 0.002 % (= 2 mills per dollar) of loan amount.

On $500K cash, doc stamps deed = $3,500 (or $3,000 in Miami-Dade). On $350K loan, doc stamps mortgage = $1,225, intangible = $700. Typical taxes total: $3,500 to $5,500 by situation.

Prepaids and escrow

The lender typically requires at closing:

• First annual home insurance payment: $2,800–$8,000 by zone and property.
• 2–3 months insurance reserve in escrow.
• Property taxes prepaid from closing day to end of FL fiscal year (March 31).
• 2–3 months tax reserve in escrow.
• Prorated interest from closing day to month-end (until first monthly payment).
• First flood insurance payment if required: $700–$4,000 by zone.

Typical prepaids and escrow total: $4,000 to $12,000.

Inspection and survey

• General home inspection: $350–700.
• 4-Point inspection: $75–200.
• Wind mitigation inspection: $100–200.
• WDO / termite inspection: $75–150.
• Mold inspection (if ordered): $200–600.
• Pool inspection (if applicable): $150–250.
• Septic / well inspection (if applicable): $200–400.
• Survey (if ordered): $350–600.

Typical total: $750 to $2,100 by inspection count.

HOA and condo

Recurring fees prepaid at closing if HOA / condo:

• HOA / condo dues prorated from closing day to month-end.
• HOA capitalization fee: $1,000–$3,000 at some complexes (HOA founding membership fee).
• HOA transfer fee: $100–500.
• Estoppel letter fee: $100–300 (letter confirming HOA account status).
• Condo association working capital: may be 1–2 months of fees.

Full numbered example

$500,000 USD purchase in Cape Coral (Lee County), with $350,000 foreign national mortgage at 7.25 %, simple HOA property:

That's ≈ 5.6 % of price. Plus the $150,000 down payment = $177,935 USD to bring to closing.

What's negotiable

• Origination fee: very negotiable, especially in slow market.
• Underwriting fee: sometimes absorbable.
• Doc prep fee: negotiable.
• Settlement / closing fee: compare 2–3 title companies.
• Owner's title insurance: not negotiable (FL regulated).
• Doc stamps, intangible: not negotiable, but contract can specify who pays.
• Seller credits: possible to negotiate seller contributing $X to closing costs (common in slow market).