Florida Mortgage Refinance Calculator
Florida has no mortgage recording tax and no attorney-closing requirement — two things that keep refinance costs lower than many other states. But there are two numbers Florida homeowners routinely forget to include: the documentary stamp tax (0.35% of the new loan amount, charged on every refinance) and hurricane insurance, which can add $150–$400 per month to PITI and directly affects how much you actually save.
This guide shows exactly what to enter in the refinance calculator for a Florida loan — with two worked examples using real Florida closing cost figures.
Open the Free Refinance CalculatorFlorida Refinance Calculator
Pre-filled with a typical Orlando scenario including the documentary stamp tax. Adjust to your loan.
ℹ Results are estimates for comparison — actual loan terms vary by lender and credit profile. How we calculate
What to Enter in the Calculator for a Florida Refinance
Open the RefinanceUSA calculator and complete each field using the Florida-specific guidance below.
Enter your remaining principal balance from your most recent mortgage statement — not the original loan amount. This is the balance the new loan pays off.
Use the note rate on your Loan Estimate. The note rate determines your monthly payment. The APR includes fees and is for comparing offers, not payment math. Get quotes from at least two lenders before deciding.
Take the total from your Loan Estimate and add 0.35% × your new loan balance as the documentary stamp tax if your lender hasn't already included it. On a $380,000 loan that's $1,330. Add this to your appraisal, title insurance, and lender fees.
If you have 22 years left on your current mortgage, enter 22 years. Refinancing into a fresh 30-year term adds 8 years of payments. The calculator shows whether that term extension costs more in interest than you save from the lower rate.
Florida's closing costs — with documentary stamp — typically run $6,000–$9,000. You need to stay long enough for monthly savings to recover that cost. If you plan to sell within 3 years, run the numbers carefully before proceeding.
Two Florida Refinance Scenarios
Both examples include the documentary stamp tax in the closing cost total.
Orlando — $340,000 Loan
Tampa Bay — $460,000 Loan
Tampa's larger balance produces more monthly savings for the same 0.75% rate drop — the break-even is actually shorter even though closing costs are higher in dollar terms.
Florida Documentary Stamp Tax by Loan Amount
The documentary stamp tax is $3.50 per $1,000 of loan amount (0.35%) on every new mortgage, including refinances. Add this to your lender's closing cost estimate.
| Loan Amount | Doc Stamp (0.35%) | Other Costs (est.) | Total Est. Closing Costs |
|---|---|---|---|
| $200,000 | $700 | $4,500 | ~$5,200 |
| $280,000 | $980 | $5,000 | ~$5,980 |
| $360,000 | $1,260 | $5,500 | ~$6,760 |
| $450,000 | $1,575 | $6,000 | ~$7,575 |
| $550,000 | $1,925 | $6,500 | ~$8,425 |
| $700,000 | $2,450 | $7,500 | ~$9,950 |
Other costs include appraisal, lender origination (0.5%), title insurance, and recording fees. No attorney fee. Actual amounts vary by lender and county.
Hurricane Insurance and Your Monthly Payment
In Florida, homeowners insurance — including hurricane and wind coverage — is part of your PITI payment. When you refinance, your lender sets up a new escrow account at the current premium. If your insurance has risen since you bought, your post-refinance PITI savings will be smaller than your P&I savings.
- Central/North Florida: Annual premiums typically $1,500–$2,500 on a $350,000 home
- South Florida (Miami-Dade, Broward, Palm Beach): Premiums often $3,500–$6,000+ annually — adding $290–$500 per month to PITI
Frequently Asked Questions
How do I enter Florida's documentary stamp tax in the calculator?
Multiply your new loan amount by 0.0035 and add the result to your total closing costs in the calculator. On a $400,000 loan that's $1,400. If your lender's Loan Estimate already includes "documentary stamp" as a line item, don't add it again — check Page 2 of the Loan Estimate to confirm.
Does hurricane insurance raise my monthly payment after refinancing?
If your premium has increased since your original loan, your new escrow will be higher. A rate drop that saves $160/month on P&I can be partially offset by a $60/month insurance increase. Get a current quote from your insurer before running the numbers so your PITI estimate is realistic.
What are typical closing costs on a Florida refinance?
Typically $5,500–$9,000 on a $300,000–$550,000 loan, including the 0.35% documentary stamp, lender origination, appraisal ($450–$600), and title insurance. Florida does not require an attorney at closing, which saves $700–$1,200 compared to attorney states.
Does my Florida county affect closing costs?
The documentary stamp tax rate is uniform statewide (0.35%). Recording fees vary by county but the difference is typically under $200. Insurance costs vary significantly by county and ZIP code — South Florida coastal areas are the most expensive.
Is a 0.5% rate drop worth refinancing in Florida?
On a $400,000 loan, a 0.5% drop saves roughly $133/month on P&I. With total closing costs of ~$7,200 (including documentary stamp), break-even is about 54 months. On larger balances or with a bigger rate drop the math improves. Use the break-even calculator for your exact timeline.
How Florida Compares to Other States for Refinancing
Florida's documentary stamp tax and no-attorney-required structure puts it between low-cost states (Texas, no recording tax) and high-cost states (New York, steep recording tax). Here is how break-even compares across three states for a $380,000 loan with a 0.75% rate drop:
| State | Doc Tax / Recording Tax | Attorney Required | Est. Total Closing Costs | Break-Even (~$180/mo savings) |
|---|---|---|---|---|
| Texas | $0 | No | ~$5,800 | ~32 months |
| Florida | $1,330 (0.35%) | No | ~$7,100 | ~40 months |
| Georgia | $1,140 (0.3%) | Yes ($900) | ~$7,800 | ~43 months |
| New York (upstate) | $2,850 (0.75%) | Yes ($1,500) | ~$10,200 | ~57 months |
Florida's position is favorable — longer break-even than Texas but much shorter than New York. No attorney requirement saves $700–$1,200 vs. attorney states.
Florida-Specific Refinancing Tips
- Insurance premium timing: Lenders set escrow based on your current annual insurance premium at the time of closing. If your renewal is in 2–3 months, consider whether waiting until after renewal gives you a more accurate escrow setup.
- Homestead exemption: Florida's homestead exemption (up to $50,000 off assessed value for primary residences) reduces your property taxes. Refinancing does not affect your homestead status — you retain the exemption as long as you continue occupying the home as your primary residence.
- South Florida flood zone: If your property is in a FEMA flood zone, your lender will require flood insurance in addition to homeowners insurance. Include this in your PITI calculation before comparing refinance savings. Flood insurance premiums vary significantly by elevation certificate rating — ask your insurer for an updated certificate before closing, as a higher rating can lower your premium and improve your net savings.
For Florida's complete refinancing rules, documentary stamp tax calculation guidance, and county-by-county cost data, see the Florida Mortgage Refinance Guide. Use the break-even calculator to enter your exact Florida closing costs and confirm whether your planned hold period clears the break-even threshold before committing to an application.
Run Your Florida Numbers in Under 2 Minutes
Enter your balance, new rate, and total Florida closing costs — including the documentary stamp tax — to see your monthly savings and exact break-even date.
Open the Free CalculatorFor Florida's full refinancing rules — documentary stamp, hurricane insurance, and closing process — see the Florida Refinance Guide. Also: Break-Even Calculator · Closing Costs Explained