Florida Buyer Closing Cost Calculator

Estimated Closing Costs:

Buying a home in Florida is an exciting step, but it’s essential to be prepared for the associated closing costs. Closing costs can include various expenses, such as loan payments, property taxes, and home insurance. To help you plan for these costs, we’ve created the Florida Buyer Closing Cost Calculator.


The Florida Buyer Closing Cost Calculator uses the following formulas to estimate your monthly closing costs:

  • Loan Payment: The calculator computes the monthly loan payment using the formula for a fixed-rate mortgage.scssCopy codeLoan Payment = (P * r * (1 + r)^n) / ((1 + r)^n - 1) Where:
    • P is the loan amount.
    • r is the monthly interest rate (annual rate divided by 12).
    • n is the total number of payments (loan term in years multiplied by 12).
  • Property Tax Amount: The calculator calculates the monthly property tax amount as a percentage of the home price.
  • Home Insurance Amount: The calculator computes the monthly home insurance amount as a percentage of the home price.

The estimated closing costs are the sum of the loan payment, property tax amount, and home insurance amount.

How to Use

  1. Enter the home price in the “Home Price” field.
  2. Input the loan amount you plan to borrow in the “Loan Amount” field.
  3. Specify the annual interest rate in the “Interest Rate (%)” field.
  4. Enter the loan term in years in the “Loan Term (years)” field.
  5. Input the property tax rate as a percentage in the “Property Tax (%)” field.
  6. Specify the home insurance rate as a percentage in the “Home Insurance (%)” field.
  7. Click the “Calculate” button to estimate your monthly closing costs.


Let’s say you are purchasing a home in Florida with the following details:

  • Home Price: $250,000
  • Loan Amount: $200,000
  • Interest Rate: 4.5%
  • Loan Term: 30 years
  • Property Tax: 1.2%
  • Home Insurance: 0.5%

After entering these values and clicking “Calculate,” the calculator will provide you with an estimated monthly closing cost.


Q1: What are closing costs in Florida? A1: Closing costs in Florida include various fees and expenses associated with finalizing a real estate transaction. These costs typically include loan fees, appraisal fees, title insurance, property taxes, and more.

Q2: Is property tax in Florida high? A2: Property tax rates in Florida can vary by county and city. While some areas may have relatively low property tax rates, it’s essential to research the specific rates in your desired location.

Q3: How can I reduce my closing costs in Florida? A3: You can potentially reduce your closing costs by negotiating with the seller, shopping for competitive mortgage rates, and exploring potential discounts or incentives offered by your lender.

Q4: Are home insurance rates the same throughout Florida? A4: Home insurance rates can vary based on factors such as location, the age and condition of the home, and the coverage you choose. It’s advisable to obtain multiple quotes to find the best rate for your specific circumstances.

Q5: Do I need to pay closing costs upfront in Florida? A5: In most cases, closing costs are paid at the time of closing, which can include prepayments, lender fees, and other expenses. However, you may have the option to roll some of these costs into your mortgage.


The Florida Buyer Closing Cost Calculator is a valuable tool for anyone planning to purchase a home in the Sunshine State. By estimating your monthly closing costs, you can better prepare for the financial aspects of homeownership. Remember that closing costs can vary, so it’s essential to work closely with your lender and real estate professionals to get an accurate picture of your expenses. Happy home buying in Florida!

Leave a Comment