What this calculator does
This calculator estimates closing costs for both sides of a Miami home sale, separating lender and title fees from government taxes. Florida charges documentary stamp tax on deeds and mortgages. Miami-Dade is unique: deeds for single-family residences pay $0.60 per $100, while other property pays $0.70 plus a $0.45 county surtax per $100. Mortgages pay $0.35 per $100 in note stamps plus a 0.2% intangible tax.
How to use it
- Enter the price and down payment.
- Keep or adjust the fee estimates — your lender's Loan Estimate lists the real ones.
- Tick any local options that apply.
- Check the seller side if you are selling, or to understand what the other party pays.
The formula
Buyer costs = lender fees (a % of the loan) + title and settlement (a % of price) + fixed fees + prepaid escrow + buyer-side government taxes. Seller costs = commission + other costs + seller-side government taxes. Government taxes come from the Miami rules in the site's tax engine.
Worked example for Miami
| Item | Amount |
|---|---|
| Lender fees and points (1% of loan) | $4,800 |
| Title insurance, settlement and escrow (0.6%) | $3,600 |
| Appraisal, inspection, recording and other fees | $1,800 |
| Prepaid property tax escrow (3 months) | $2,700 |
| Doc stamps on the mortgage note ($0.35 per $100) | $1,680 |
| Intangible tax on the mortgage (0.2%) | $960 |
| Buyer total | $15,540 |
| Agent commissions (5%) | $30,000 |
| Other seller costs | $1,500 |
| Deed documentary stamp tax ($0.60 per $100) | $3,600 |
| Seller total | $35,100 |
Estimated buyer closing costs: $15,540 (2.6% of the price · seller costs about $35,100).
What drives closing costs in Miami
In Miami, government transfer and recording taxes add $6,240 to this sale, $2,640 of it on the buyer's side. Lender and title charges scale with the loan and price, which is why they are the other big pieces. Prepaid escrow is not a fee — it is your own property tax money collected up front.
Title insurance pricing also varies: title premiums in Florida are filed by insurers and can differ, so compare quotes.
Common mistakes and tips
- Confusing prepaid escrow with fees — escrow is your own tax and insurance money.
- Comparing lenders only by rate; compare the Loan Estimate's total costs.
- Forgetting that commissions are negotiable and, since 2024 industry changes, buyer-agent pay is often negotiated separately.
- Missing a local tax break available in Miami — see the special tools for Miami.
Frequently asked questions
How much are closing costs in Miami?
For the default price on this page, buyer costs come to about $15,540, or 2.6% of the price.
Who pays transfer tax in Miami?
In Florida the seller customarily pays the documentary stamp tax on the deed, and the buyer pays the note stamps and intangible tax on a new mortgage. Miami-Dade's surtax on property other than single-family homes is also usually the seller's cost.
What is on the Closing Disclosure?
The final list of loan terms and costs, delivered at least three business days before closing. Compare it with your Loan Estimate.
Can closing costs be rolled into the loan?
Some can be covered by seller credits or a higher rate with lender credits, but government taxes and prepaid items are usually paid in cash.
Sources
Disclaimer
This calculator provides estimates for educational purposes only and is not financial, tax, legal, real estate, or insurance advice. Consult a licensed professional before making decisions.