Closing costs in the Florida Keys typically range from 2-5% of the loan amount. Understanding these costs early helps you budget accurately.
Lender Fees
Origination fees, underwriting fees, and processing fees typically total $1,000-$3,000. Some lenders offer no-closing-cost options with slightly higher rates.
Title and Escrow
Title insurance, escrow fees, and recording fees typically total $2,000-$4,000. Title insurance premiums are regulated in Florida.
Pre-paid Items
Property taxes (typically 3-6 months in escrow), homeowner insurance (12 months upfront), and flood insurance (12 months upfront) are required at closing.
Keys-Specific Costs
Keys closings may include additional costs for flood zone determination, wind mitigation inspection, and condo document review. These typically add $500-$1,500 to your closing costs.