A. Title Insurance
Title insurance fees include settlement fees, title examination fees and the insurance premium. The premium will vary with the dollar amount of the loan and/ or the purchase price of the property. To determine the title insurance premium for your property, refer to the main page for GCTA’s Promulgated Rate Calculator.
B. Documentary Stamps
Pursuant to Section 201.02 of the Florida Statutes, a documentary stamp tax in the amount of $.70 per each $100.00 of consideration is due on all deeds, instruments or writings whereby any lands, tenements or other real property or any interest therein shall be granted, assigned, transferred or otherwise conveyed to or vested in the purchaser or another person by the seller’s direction. A documentary stamp tax in the amount of $.35 per each $100.00 is due on all promissory notes, non-negotiable notes, written obligations to pay money or assignments of salaries, wages or other compensation made, executed, delivered, sold, transferred or assigned in the State of Florida.
C. Intangible Tax
Pursuant to Section 199.133 of Florida Statutes, a one-time nonrecurring tax of 2 mills is charged on each dollar of the just valuation of all notes, bonds, and other obligations for payment of money which is secured by a mortgage, deed of trust or other lien upon real property situated in the State of Florida. In order to calculate the amount due for intangible tax, the amount of the loan must be multiplied by .002.
D. Recording Fees
Recording fees are due on the deed, the mortgage, release of a mortgage, and any other documents that may be required to provide the purchaser with good title to the property. The cost of recording documents executed in connection with a particular transaction varies with the number and length of documents required. In Escambia and
Santa Rosa County the rates for recording are $10.00 for the first page and $8.50 for each additional page.
E. Loan Costs
Loan costs may include, but are not necessary limited to, origination fees, points (discount), tax service fees, loan certification fees, document preparation fees, and any other fees that may be required by the bank or the mortgage company to service the loan.