Buying on 30A is exciting, but the numbers that matter most often come at the end: your cash to close. If you are new to Florida or the Emerald Coast, closing costs can feel confusing. This guide gives you a clear, Florida-specific breakdown, realistic ranges for Santa Rosa Beach, and simple examples you can adapt to your price point. You will finish with a practical worksheet and next steps for getting precise estimates. Let’s dive in.
What closing costs cover in Florida
Closing costs are the non–purchase price funds you bring to the table, or that a seller may credit to you. They include lender fees, title and recording charges, state taxes, prepaids like insurance and interest, and inspections. Some items are paid before closing, such as inspections and surveys.
Who typically pays what can vary. In Florida, buyers usually pay lender-related fees and the lender’s title policy. The owner’s title policy is often negotiated and can depend on county custom. Property taxes and HOA dues are prorated between buyer and seller based on the closing date.
Florida taxes you will see in Walton County
Florida assesses specific state taxes when you buy and finance property. These are calculated the same way across the state, including Walton County.
Documentary stamp tax on deed (sale price)
- Rate: 0.70 per 100 dollars of the purchase price (0.7 percent).
- Formula: 0.007 × purchase price.
- Example: 800,000 dollars purchase price → 0.007 × 800,000 = 5,600 dollars.
Documentary stamp tax on note (loan amount)
- Applies when you finance with a recorded promissory note.
- Rate: 0.35 per 100 dollars of the mortgage amount (0.35 percent).
- Formula: 0.0035 × loan amount.
- Example: 640,000 dollars loan → 0.0035 × 640,000 = 2,240 dollars.
Intangible tax on mortgage (loan amount)
- Separate state charge on the mortgage.
- Rate: 0.2 percent of the mortgage amount.
- Formula: 0.002 × loan amount.
- Example: 640,000 dollars loan → 0.002 × 640,000 = 1,280 dollars.
Recording fees in Walton County
The Walton County Clerk charges fixed per-page recording fees for the deed and mortgage. These are usually modest compared with state taxes, often in the low hundreds, and depend on document length. Your title company can quote the exact totals once your contract and loan package are finalized.
Typical lender, title, and prepaid charges on 30A
Every transaction is unique, but these ranges are common for Santa Rosa Beach and the 30A corridor.
Lender-related fees
- Loan origination or lender fee: typically 0.5 percent to 1.5 percent of the loan amount.
- Discount points (optional): 1 point equals 1 percent of the loan and can reduce your rate.
- Underwriting, processing, application: about 300 to 1,200 dollars combined.
- Credit report: about 25 to 60 dollars.
- Appraisal: about 450 to 1,000 dollars or more, especially for complex or luxury properties.
- Flood determination: about 10 to 30 dollars.
- Tax service fee: about 50 to 150 dollars.
Title, escrow, and recording
- Lender’s title insurance policy: required by most lenders; premium scales with loan size.
- Owner’s title insurance policy: often negotiated and can vary by county custom.
- Title search and closing or escrow fee: about 300 to 1,200 dollars.
- Recording fees: about 50 to 300 dollars or more depending on documents.
- Courier or overnight fees: about 20 to 100 dollars.
Prepaids and escrows
- Prepaid interest: from closing date to your first payment. Estimate daily interest as loan amount × interest rate ÷ 365, then multiply by the number of days until your first payment.
- Homeowners insurance: coastal premiums on 30A are often higher. A first-year premium can range roughly 1,500 to 8,000 dollars or more, depending on property details and wind coverage.
- Flood insurance: required if your lender’s flood determination shows a Special Flood Hazard Area. Premiums vary widely based on elevation, structure, and coverage.
- Initial escrow deposits: lenders often collect 2 to 6 months of taxes and insurance to seed your escrow account.
- Property tax prorations: adjusted between buyer and seller at closing based on the closing date and the Walton County tax calendar.
Inspections and HOA or condo items
- Home inspection: about 300 to 700 dollars or more for larger homes.
- WDO or pest inspection: about 75 to 200 dollars.
- Survey: about 300 to 1,000 dollars or more if required.
- Condo estoppel or association document fee: about 100 to 500 dollars depending on the association.
Cash-to-close worksheet you can use
Use this list to build your estimate, then refine with your lender and title company.
- Down payment (purchase price × [1 − loan-to-value])
- Loan origination or points
- Appraisal fee
- Credit report fee
- Underwriting and processing fees
- Lender’s title insurance premium
- Owner’s title insurance premium if applicable
- Title search and closing or escrow fee
- Recording fees (deed and mortgage)
- Documentary stamp tax on deed: 0.007 × purchase price
- Documentary stamp tax on note: 0.0035 × loan amount
- Intangible tax on mortgage: 0.002 × loan amount
- Prepaid interest: loan amount × interest rate ÷ 365 × days to first payment
- Homeowners insurance (first-year premium)
- Flood insurance if required
- Initial escrow deposits for taxes and insurance
- Inspections, survey, HOA or condo estoppel
- Subtract any seller concessions or credits
Two 30A-style examples
These examples show how the state taxes and typical items stack up. Your totals will vary with insurance, escrow, loan program, and negotiated items.
Example A: Single-family home around 800,000 dollars
Assumptions: 20 percent down (160,000 dollars) and a 640,000 dollar loan at 5.0 percent, with 30 prepaid interest days.
- Down payment: 160,000 dollars
- Doc stamp on deed: 0.007 × 800,000 = 5,600 dollars
- Doc stamp on note: 0.0035 × 640,000 = 2,240 dollars
- Intangible tax: 0.002 × 640,000 = 1,280 dollars
- Appraisal: about 600 dollars
- Credit report and underwriting or processing: about 500 dollars
- Lender’s title and closing fees: about 1,200 to 3,000 dollars
- Prepaid interest: (640,000 × 0.05 ÷ 365) × 30 ≈ 2,630 dollars
- Homeowners insurance first year: example 3,500 dollars
- Initial tax or insurance escrow seed: about 2,000 to 8,000 dollars
- Inspections, survey, HOA estoppel: about 800 dollars
Estimated buyer cash to close (including down payment): roughly 177,000 to 178,500 dollars. Estimated closing costs and prepaids excluding down payment: about 17,000 to 18,500 dollars.
Example B: Higher-priced coastal property around 1,200,000 dollars
Assumptions: 25 percent down (300,000 dollars) and a 900,000 dollar loan at 5.0 percent, with 20 prepaid interest days.
- Down payment: 300,000 dollars
- Doc stamp on deed: 0.007 × 1,200,000 = 8,400 dollars
- Doc stamp on note: 0.0035 × 900,000 = 3,150 dollars
- Intangible tax: 0.002 × 900,000 = 1,800 dollars
- Appraisal: about 700 to 1,200 dollars
- Lender, title, and closing fees: about 1,500 to 4,000 dollars or more
- Prepaid interest: (900,000 × 0.05 ÷ 365) × 20 ≈ 2,466 dollars
- Homeowners insurance: about 4,500 to 10,000 dollars or more
- Escrow seed: several thousand dollars depending on taxes and premium
- Inspections and survey: about 1,000 dollars or more
Estimated closing costs and prepaids excluding down payment: about 25,000 to 45,000 dollars, driven largely by insurance and escrow requirements.
Local 30A tips to control surprises
- Request a Loan Estimate early. Lenders must provide it within three business days of application. Use it to compare total loan costs, points, and cash to close.
- Get a title quote before you finalize terms. A local title agent can confirm exact state taxes, recording fees, and title premiums, plus local customs for who pays the owner’s policy.
- Address flood insurance up front. If a flood policy is required, premiums and coverage details can affect your budget and timing. Elevation certificates can help refine quotes.
- Review HOA or condo items early. Estoppel fees and document reviews can affect your timeline and costs.
- Negotiate strategically. In some markets sellers may contribute credits or pay certain items. In competitive situations, concessions are less common.
- Budget for coastal insurance. Plan for a range rather than a single number so you are ready for carrier differences and property-specific factors.
How much to budget beyond the down payment
For many financed purchases on 30A, a general planning range is about 2 to 5 percent of the purchase price for closing costs and prepaids. Coastal insurance and escrow reserves can push totals higher, especially for larger or more complex properties. Your Loan Estimate and title quote will give you the most accurate picture once you have a contract and lender selected.
Ready to run numbers together?
If you want a precise cash-to-close estimate tailored to a Santa Rosa Beach property, we are here to help. We can coordinate lender quotes, title estimates, and insurance options so you have clarity before you commit. Connect with 30AMY HOMES to plan your path to the closing table.
FAQs
What do 30A buyers typically pay at closing in Florida?
- Buyers usually cover lender fees, the lender’s title policy, state taxes tied to the mortgage, prepaids like insurance and interest, and recording fees. The owner’s title policy and some taxes or fees can be negotiated.
How are Florida’s documentary stamp and intangible taxes calculated for 30A?
- Deed tax is 0.7 percent of the purchase price, note tax is 0.35 percent of the loan amount, and the intangible tax is 0.2 percent of the loan amount. These state rates apply in Walton County.
What should I budget for closing costs in Santa Rosa Beach?
- A common planning range is 2 to 5 percent of the purchase price for closing costs and prepaids, in addition to your down payment. Coastal insurance and escrow reserves can increase this range.
Do I need flood insurance for a 30A home purchase?
- If a lender’s flood determination shows the property is in a Special Flood Hazard Area, flood insurance is required. Even outside these zones, many buyers choose coverage based on property location and risk tolerance.
How are property taxes handled at closing in Walton County?
- Taxes are prorated between buyer and seller based on the closing date and the county’s tax calendar. Your settlement statement will show the exact credits and debits.
Who pays for owner’s title insurance in Walton County?
- It depends on local custom and your contract. In some Florida markets sellers pay the owner’s policy, but practices vary. Confirm with your agent and title company.
What changes if I am paying cash on 30A?
- You will still see the deed documentary stamp tax and typical title or closing fees, plus prepaids like insurance and prorations. You will not pay the note documentary stamp or intangible tax tied to a mortgage.
