Mortgage lender closing cost rankings in Florida (2025)

Florida uses a non-judicial foreclosure process for most residential mortgages, though the state also permits judicial foreclosure, and in practice Florida courts have historically processed foreclosures judicially through circuit courts. The state uses mortgage instruments rather than deeds of trust. Florida is an attorney-optional closing state. A licensed title agent, rather than an attorney, may conduct the closing, though attorneys are frequently used. Documentary stamp taxes apply to both the mortgage note and the deed: the deed stamp is typically $0.70 per $100 of purchase price (or $0.60 in Miami-Dade County), and the mortgage note carries an additional intangible tax of $0.002 per dollar of loan amount [VERIFY current rates]. By custom, the seller typically pays the deed documentary stamp tax, while the buyer pays the note stamp and intangible tax, though this is negotiable. Florida's title insurance rates are promulgated by the state Office of Insurance Regulation, meaning rates are set by regulators and must be followed uniformly. Title insurance is not freely negotiable in Florida. Prepayment penalties on residential mortgages are restricted in Florida. The Florida Office of Financial Regulation oversees state-chartered lenders and mortgage brokers.

Conventional loans dominate Florida's purchase market at 59.1% of originations (138,988 loans) with a median rate of 6.625%, consistent with the state's high proportion of higher-cost coastal and metro markets that exceed FHA loan limits. FHA loans represent a substantial 27.9% share (65,553 originations) at a median rate of 6.25%, reflecting significant first-time and lower-down-payment buyer activity — and notably carry the highest median closing costs at $12,673. VA loans account for 12.7% (29,958 originations), supported by Florida's large active-duty and veteran population tied to numerous military installations. USDA loans are minimal at 0.2% (586 originations), reflecting the predominantly urban and suburban character of Florida's housing market.