Use this Florida Mortgage Closing Cost Calculator to estimate your monthly mortgage payment,
including taxes, insurance and PMI. Enter your Home Price and Down Payment in the fields below.
In seconds, our Florida Mortgage Closing Cost Calculator will have an estimate of your
monthly payment and closing costs.
We know that buying a home can be complicated. Understanding your closing is an important part of the process.
Closing costs are not a one-line item, but rather a collection of multiple expenses.
Our Florida closing cost calculator let’s you estimate your closing costs based on your financial situation.
How To Use Florida Closing Cost Calculator?
Enter Home Price: The total sale price of a property negotiated between seller and buyer.
Enter Down Payment: The funds you put upfront to get a home loan. This amount can vary from $0 for VA loans,
3.5% for FHA Loans and 20% for conforming mortgages. Speak to your licensed mortgage loan originator to Down
payment of less than 20% percent, might require a purchase of private mortgage insurance (PMI). PMI protects
the lender in the event of foreclosure.
Enter Interest Rate: Your exact interest rate will be determined by your lender after you apply for a loan.
Lenders consider several factors including your credit score, down payment, term and lending fees. Check
Enter Mortgage Period: 15 and 30 year mortgage terms are most common for fixed rate mortgages. You may also
choose adjustable rate mortgage which almost always come in a 15 or 30 year term.
Enter Property Taxes: We use state and national averages to estimate your property taxes. Please feel free
to enter specific property tax for more accurate estimate.
Enter Homeowners Insurance: We use state and national averages when estimating your property insurance. Like
taxes, though, homeowner’s insurance costs can greatly vary from place to place.
Understand Florida Closing Costs and Fees.
Underwriting fee: Most lenders charge underwriting fee for the service of evaluating the loan application
Processing fee: A processing fee is charged to cover documentation related to your mortgage loan
Appraisal fee: Most lenders require an independent opinion of property value from a licensed appraisal
Origination fee: There are two types of loan origination fees. Lender paid and borrower paid. Lender paid
originating fees are built in to your rate. Borrower paid origination fee is paid by the borrower at
Lender’s title insurance: Most lenders require what’s called a loan policy; it protects them in case there’s
an error in the title search and someone makes a claim of ownership on the property after it’s sold.
Owner’s title insurance: You should also consider purchasing title insurance to protect yourself in case
title problems or claims are made on your home after closing.
Survey: A property survey determines the precise location of your property. Most title companies and lenders
require a property survey.
Closing / Escrow / Settlement fee: Most time you need a settlement agent to facilitate your transaction.
Your title company or attorney generally will act as a settlement agent.
Recording fee: A recording fee is generally charged by local government (county) for recoding a real estate
purchase. This information becomes a matter of public record. Recording fees very by state and county.
State tax / Stamps: You may be subject to state stamp tax depending a state you are buying or selling a
home. Please check with your real estate attorney / title company for you state specific tax laws.
Escrow / Reserves: Most lenders prefer to set up an escrow account so they can pay your property tax and
insurance for you. The lender will collect monthly fraction from you on a monthly basis and accumulate the
balance in your escrow account.