Florida Mortgage Closing Costs
UP-FRONT FEES
| APPRAISAL | $300 (higher for investment properties) |
CLOSING COSTS
| FLOOD CERT | $15 |
| TAX SERVICE | $75 |
| DOC PREP and UNDERWRITING FEE | $480 |
| Origination / Discount Fee | $0 (Only if you want to lower interest rate/waive escrows) |
| TITLE COMPANY | $150-$250 (varies if purchase or refinance and dependent on title company- you can always shop title companies) |
| RECORDING FEE | $225 (depending on number of pages) |
| Endorsements | $150 (Varies due to number) Common endorsements are for PUD,Survey,Adj Rate |
| State Tax, Intangible, Warranty Deed | Varies as to loan amount and terms of contract if a purchase- ask for a Good Faith Estimate |
| Insurance | If escrowing generally 1 year prepaid and 2 months in escrows for purchase or enough to pay when due again if refinance |
| Taxes | 2 to 3 months in reserve for purchase or enough to pay when due for refinance |
| Survey | $250 (New Survey generally not required for refinance) |
| Pest Inspection | $55 Generally not required |
| Home Inspection | Only for a purchase- Not required BUT do not buy an existing home without one |
Pre Paid Items
| PER DIEM INTEREST: |
| As a result of there being no mortgage payment due the first month following your closing; at the closing you must pay simple interest covering the period from the day of the closing through the end of the month and then skip a mortgage payment. |
| PROPERTY TAX &
HOMEOWNERS INSURANCE ESCROWS |
| A calculation will be done at the closing to determine the amount of money that will need to be initially deposited to your escrow account. The actual amount will depend on the dollar amount and timing of the first tax payment coming due. The lender will need to make certain that there will be sufficient funds on account to make this first payment. Generally speaking, you can expect this amount to range anywhere from 2 to 4 months worth of payments. |