Loan Estimate Challenges
Florida’s Biggest LE Challenges

Florida is another state in which title insurance rates are promulgated (set by regulatory authority). However, the rates may vary by type of mortgage transaction. Refinance mortgages are of particular interest, as a substitution discount or reissue may be available.

Intangible taxes

Florida is also one of the few states in the nation to levy an intangible tax for mortgages, In essence, this is a one-time tax on the ownership of the property in question. It is assessed at the time a mortgage is recorded. 

Transfer and deed taxes

Finally, transfer taxes are generally uniform, county by county, across the state. There is one exception to this in Miami-Dade county, where the deviation is confined to deed taxes.