Planning to buy a home in Viera and wondering what you will owe at the closing table? You are not alone. Closing costs in Florida include a mix of lender fees, state taxes, title charges, and prepaids, and they can vary by neighborhood custom and your loan. This guide breaks down what Brevard County buyers typically pay, how those numbers are calculated, and smart ways to manage your cash to close. Let’s dive in.
Closing cost basics in Viera
Most Viera buyers using a mortgage can expect total closing costs, not including the down payment, to be about 2% to 5% of the purchase price. That range covers lender fees, third‑party services like appraisals and title work, government recording fees, and required prepaids. The final figure depends on your loan type, rate strategy, the property, and who pays what in your contract.
On top of closing costs, you will prepay items like the first year of homeowner’s insurance, property tax prorations, and a small interest amount to cover the rest of the month after closing. If the home has an HOA or a Community Development District, you may also see prorated dues and one‑time association fees.
What buyers typically pay
Loan and lender fees
- Origination, underwriting, and processing: often 0.5% to 1.5% of the loan amount, or flat fees.
- Credit report and application: usually modest, with a credit report often $25 to $100.
- Discount points: optional. One point equals 1% of the loan amount to lower your rate.
Third‑party services
- Appraisal: typically $400 to $800, depending on property type and complexity.
- Survey if required: about $300 to $1,000 when not already available.
- Flood determination: often under $50.
- Pest or WDO inspection: typically $50 to $150.
Title and closing
- Title search and settlement fee: commonly several hundred dollars up to about $1,000.
- Lender’s title insurance policy: required with a mortgage, based on your loan amount.
- Owner’s title insurance policy: optional but recommended, based on the purchase price. Florida premiums follow a regulated schedule and are often less than 1% of price. Who pays is negotiable and varies by market.
Florida state taxes and recording
- Documentary stamp tax on the deed: typically calculated at about $0.70 per $100 of the purchase price, about 0.7%. Local custom often has the seller pay, but it is negotiable.
- Documentary stamp tax on the note: charged on the mortgage amount at $0.35 per $100 financed.
- Intangible tax on the mortgage: $0.002 per $1 of new mortgage debt, which equals 0.2% of the loan amount.
- Recording fees in Brevard County: small per‑document and per‑page charges that usually total tens to a few hundred dollars.
Prepaids and escrow deposits
- Homeowner’s insurance: most lenders collect the first year’s premium at closing. Expect roughly $800 to $3,000 or more based on coverage, property value, and flood exposure.
- Per‑diem mortgage interest: interest from your closing date to month‑end.
- Property tax prorations: prorated based on the closing date. Florida taxes are generally paid in arrears.
- Escrow reserves: lenders often collect 1 to 3 months of taxes and insurance to seed your escrow.
- HOA and condo items: prorated dues from your closing date forward, plus estoppel or resale certificate fees, often $100 to $400, though some communities charge more.
CDDs and special assessments
Parts of Viera use Community Development Districts. CDD charges usually appear on the annual tax bill as a non‑ad valorem assessment and are prorated at closing. Annual amounts vary widely, often several hundred dollars to more than $1,000 per year. Confirm CDD details early in your due diligence.
Who pays what in Brevard
Many items are negotiable in Brevard County. It is common for local custom to influence who pays owner’s title insurance and the documentary stamp tax on the deed, but there is no universal rule. Your purchase contract should clearly state the allocation of settlement charges.
Always confirm with your lender and the title company which items you will pay and which the seller will cover. A quick check early in the process prevents surprises on your Closing Disclosure.
Ways to lower your cash to close
- Ask for seller concessions within your loan program limits. FHA, VA, and conventional loans each set specific caps and rules on what sellers can pay.
- Consider a lender credit in exchange for a slightly higher interest rate to offset upfront costs.
- Shop lenders for competitive origination and discount point structures.
- Negotiate contract items like the owner’s title policy, settlement fees, and HOA transfer fees.
Coordinate any strategy with your lender, since concessions and credits must meet loan guidelines and the home must appraise.
Sample cash‑to‑close scenarios
These examples assume a mortgage purchase in Viera and include closing costs plus typical prepaids and escrow deposits. Your figures will vary based on your loan, property, and contract terms.
$300,000 purchase
- Closing costs at about 2.5%: ≈ $7,500
- Prepaids and escrows: ≈ $1,500 to $3,000
- Estimated cash to close, excluding down payment: ≈ $9,000 to $10,500
$450,000 purchase
- Closing costs at about 2.5%: ≈ $11,250
- Prepaids and escrows: ≈ $2,000 to $4,000
- Estimated cash to close, excluding down payment: ≈ $13,250 to $15,250
$600,000 purchase
- Closing costs at about 2.5%: ≈ $15,000
- Prepaids and escrows: ≈ $2,500 to $6,000
- Estimated cash to close, excluding down payment: ≈ $17,500 to $21,000
Note: Florida’s documentary stamp tax on the deed, the note stamps, and the intangible tax on the mortgage can materially impact totals. If the seller pays the deed tax per your contract, it can reduce your out‑of‑pocket amount.
Timeline and key documents
- Loan Estimate: You will get this within three business days of applying for a mortgage. It outlines your projected costs and rate.
- Closing Disclosure: You must receive this at least three business days before closing. It shows your exact cash to close with every fee and prepaid.
- Title and association documents: Your title team will provide escrow instructions and request HOA or condo estoppels. Start these items early to stay on schedule.
Smart next steps
- Confirm with your lender the escrow amounts for taxes and insurance that will be collected at closing.
- Ask the title company who typically pays owner’s title insurance and the deed documentary stamps in Brevard County, then reflect it in your offer.
- Request recent HOA, CDD, or special assessment statements, and review the property’s tax roll for current assessments.
- Get homeowner’s insurance quotes early. If the property is in a Special Flood Hazard Area, your lender will require flood insurance.
Buying in Viera should feel exciting and clear. If you want a tailored estimate for your target home, plus guidance on local custom and contract strategies that protect your bottom line, connect with the team at Jamie Dandridge. We offer white‑glove support from offer to keys, including remote coordination for out‑of‑state buyers.
FAQs
Who pays the Florida deed documentary stamp tax?
- It is a state tax that appears on most Florida closings. Who pays is negotiable and often guided by local custom, so your contract should specify the payer.
Will I need flood insurance for a Viera home?
- If the lender’s flood determination places the property in a Special Flood Hazard Area, or if required by the lender or insurer, you will need flood insurance. Get quotes early.
Can a seller pay my closing costs in Brevard?
- Yes, seller concessions are common, but the limits and which fees are allowed depend on your loan program. Coordinate with your lender before you write the offer.
What are the biggest Florida‑specific buyer fees?
- The documentary stamp tax on the note, the intangible tax on the mortgage, and county recording fees are common buyer charges. The deed tax is often paid by the seller, but it is negotiable.
How can I reduce my cash to close?
- Use seller concessions, compare lenders for fee differences, consider a lender credit for a slightly higher rate, and negotiate who pays certain title and settlement items in the contract.
