Journal · November 2, 2026
Florida puts two taxes on almost every mortgage. Here is what they are, what else shows up on your closing sheet, and how builder credits work when you buy a Gibraltar home.
Look at the taxes section of your loan estimate. Two of the lines there are Florida taxes, and the rates are set by statute, not by your lender.
The first is documentary stamp tax on the mortgage: 35 cents on each $100 of the loan, under section 201.08(1)(b) of the Florida Statutes. You may read about a $2,450 cap. That cap is in the paragraph for notes and other written promises to pay, not the one for recorded mortgages, which has none.
The second is the nonrecurring intangible tax, 2 mills on a loan secured by a mortgage on Florida real estate, under section 199.133. Two mills is $2 for every $1,000.
Put together, that is $350 in stamps and $200 in intangible tax for every $100,000 you borrow. Both are one-time charges, paid at closing.
The deed carries its own stamp tax, 70 cents per $100 of the price, under section 201.02(1)(a). Who pays that one is set by your contract, so read that section before you sign.
Origination and underwriting, the appraisal, the credit report. These vary from lender to lender, so compare them line by line.
A lender's policy protects the bank and an owner's policy protects you. The title company also searches the title and runs the closing.
The county charges a fee to record the deed and the mortgage in the public record.
Your first year of homeowners insurance, interest on the loan from closing day through the end of that month, and a starting balance the lender holds for future tax and insurance bills.
The closing statement splits the current year's property tax between buyer and seller by date.
Anything the seller or builder is paying toward your costs shows up here as a credit. On a Gibraltar home, it should match the contract.
Start with property tax, because the first year can be lopsided. Florida assesses real property as of January 1, and an improvement that isn't substantially completed on that date gets no value, under section 192.042(1). If your house was still being built on January 1, that year's bill is for the lot alone, and the proration at closing and the lender's first escrow estimate may be built on that land-only number. The next year the finished house is on the roll and the bill catches up. Ask your lender how they are estimating taxes on a house that is new to the roll, so the escrow change doesn't catch you off guard.
If you own the house and live in it on January 1, the homestead exemption application goes to the Brevard County Property Appraiser by March 1, under section 196.011(1)(a). Missing the deadline generally waives the exemption for that year, with narrow exceptions in the same statute.
With us you sign the Gibraltar purchase contract, not the resale forms agents use on existing homes. Its exhibits are the plan rendering, the drainage plan with the well, septic and easements marked (you initial it), your pre-approval letter or proof of funds, the spec sheet, your color selections and a change order form. The initial deposit is paid at signing.
You close with the title company, and the keys are handed to you at the table. Ask early which title company is handling it.
We call our builder credits FlexCash. The rules fit in a paragraph. FlexCash is available only when you use one of our preferred lenders. It can go toward closing costs, upgrades, or buying down your rate. And it is written on the contract line by line, not taken off the price, so you can see exactly what you got and where it went.
A credit isn't extra money. It is part of the deal, and where you put it changes what you bring to the table and what you pay every month after. Ask how much, applied to which line, and where it appears on the contract. We'll answer in numbers on the house you are looking at, not with a slogan.
The steps from tour to keys, including when the credit gets decided, are on the home buying process page.
You can use your own lender. The trade-off is plain: FlexCash only comes with a preferred lender. We have preferred lenders for veterans, for first-time buyers, and for self-employed buyers who qualify with bank statements instead of W-2s.
If you want to compare, get a loan estimate from both on the same loan amount and set them side by side with the credit applied. Buying a finished home? It closes as fast as your loan does, and the rent-to-keys page covers what can still slow it down.
Note stamps at 35 cents per $100 and intangible tax at 2 mills. If they don't line up with the loan amount, ask why.
On a new house, ask whether the escrow is based on a land-only bill and what it will look like next year.
Each builder credit on the contract should show up again on the closing figures, on the line you chose.
Deed stamps, title insurance and the other seller and buyer costs come from your contract. Find that section and read it.
Same loan amount, same lock period, same credits. Otherwise two loan estimates can't be compared.
Want FlexCash explained in numbers on a specific home? Look through the models, see what comes standard, then call (321) 401-6003 or use our contact page.
Sources: Florida Statutes (2026), s. 201.08, s. 199.133, s. 201.02, s. 192.042 and s. 196.011. This is general information, not tax or legal advice. Your lender, title company and the property appraiser have the final numbers.
Pick a home or a plan and we'll explain the credit in numbers, with a preferred lender who has closed our houses before.