What Are Typical Closing Costs?
Conventional Mortgage
Charges to Seller
- Doc stamps - deed (.70/$100 of sales price)
- Title search and title examination fee
- Pay off existing mortgage liens
- Recording fees for mortgage satisfaction
- Property tax prorations
- Real estate professional fees
- Condominium maintenance prorations
Charges to Buyer
- Owner's Title Insurance
- Lender's Title Insurance (if required)
- Closing fees mortgage doc stamps (.35/$100 of loan amount)
- Intangible tax on mortgage (.20/$100 of loan amount)
- Recording Fees ($10.00 first page; $8.50 thereafter)
- ALTA endorsement fees
- Florida Form 9 (10% of Title Insurance premium)
- Tax service fee - Document preparation fee
- Appraisal fee (to lender)
- Credit report fee (to lender)
- Underwriting fee (to lender)
- Processing fee (to lender)
- Origination and Discount Points (to lender)
- PMI Insurance (if required)
- Roof Inspection
- Home Inspection
- Termite Inspection
- Certified survey (to PLS)
- Homeowner's Insurance (1 year premium)
- Flood Insurance (1 year premium)
- Windstorm Insurance (1 year premium)
- Escrow withheld: 2 months taxes and insurance minimum
- Prepaid interest (from closing day to end of month)
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VA/FHA Mortgage
Charges to Seller
- Doc Stamps on deed (70/$100 of sales price)
- Title Search and Title Exam Fee
- Pay off of existing mortgage liens
- Recording fees for mortgage satisfaction
- Property tax prorations
- Tax Service Fee
- Document preparation fee
- Underwriting Fee
- Discount points (if applicable)
- Real estate professional fees
- Condominium maintenance prorations
Charges to Buyer
- Owner's Title Insurance
- Lender's Title Insurance (if required)
- Closing fee -ALTA endorsement
- Florida Form 9 (10% of title insurance)
- Doc stamps on mortgage (.35/$100 of loan amount)
- Intangible tax on mortgage (.20/$100 of loan amount)
- Recording Fees ($10.00 first page; $8.50 thereafter)
- Homeowners/Flood/Windstorm Insurance (1 year premium)
- Escrow for insurance & taxes (at least 2 months)
- VA Funding Fee (VA loan only)
- Mortgage Insurance Premium (MIP) FHA loan only
- Origination Fee (to lender)
- Prepaid Interest (day of closing to end of month)
- Credit Report Fee (to lender)
- Appraisal Fee (to lender)
- Survey
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Cash Transactions
Charges to Seller
- Doc stamps on deed (70/$100 of sales price)
- Title search - examination fee
- Pay off existing mortgage liens
- Recording fees for mortgage satisfaction
- Property tax prorations
- Real estate professional fees
- Condominium maintenance prorations (if any)
Charges to Buyer
- Owner's Title Insurance
- Closing Fee
- Recording Fees ($10.00 first page; $8.50 thereafter)
- Property inspections
- Termite inspections
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