The Quick Read: On a Florida jumbo cash-out refinance, the state taxes the new mortgage, and the tax grows with the loan because a recorded mortgage has no dollar cap. Two separate charges apply: documentary stamp tax and the one-time intangible tax. Deed stamps do not apply, since the owner does not change. Whether the whole new loan or only the new money is taxed depends on the structure, the lender and the closing agent.
Key Takeaways
- Doc stamps and the intangible tax are state taxes, not lender fees.
- They are figured on the amount the new mortgage secures, and a jumbo balance means a larger tax base.
- A refinance owes no deed stamps. The charges sit on the new note and mortgage.
- A narrow renewal exemption exists, but a cash-out loan adds new money by definition.
- Ask your closing agent early how the taxes will be figured on your file.
Florida Jumbo cash-out estimate
Enter the value, the balance, and the cash wanted; choose the occupancy and the structure; the lanes, the payment, and the reserves follow.
Editable benchmark: 7.40% as of October 15, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not a jumbo cash-out refinance quote.
Illustrative starting assumptions: a $2,000,000 home value in the jumbo range, a $1,000,000 current balance, a principal residence on a thirty-year fixed structure at the current Freddie Mac conforming benchmark, and property taxes and insurance estimated at typical rates for Florida. Every field is editable.
Illustrative estimate only — not a Loan Estimate, approval, quote, or commitment to lend. The rate field carries the weekly Freddie Mac thirty-year conforming benchmark, a market reference and not a jumbo cash-out refinance quote; a jumbo loan is priced by the lender at lock. The lanes shown are the wholesale cash-out lanes behind this page as of the snapshot date; the calculator reads each lane’s leverage, loan maximum by occupancy, cash-in-hand cap, and reserves as the lane table states them, and a Lendmire loan officer confirms the lane on the file. The cash available is the loan the lane allows less the balances paid off, before closing costs, which are not included; on most lanes a jumbo cash-out begins one dollar above the conforming limit for the county, and two lanes start at a stated dollar floor instead. The HELOC line is the line program’s combined loan-to-value ceiling applied to the same value and balance. Taxes and insurance are editable estimates. Licensed in sixteen states for consumer mortgages.
What Are Florida Doc Stamps on a Refinance?
Doc stamps are a state tax on loan paperwork. The Florida Department of Revenue says documentary stamp tax applies to a mortgage, lien or other evidence of debt filed or recorded in Florida. The tax is assessed on the amount of the debt secured, per $100 or portion thereof.
A second charge sits alongside it. A Florida appellate opinion describes a stamp tax and an intangible tax, both assessed on the amount of the mortgage. The stamp tax falls under section 201.08 and the nonrecurring intangible tax under section 199.133. A law-firm summary from Starfield & Smith puts the intangible tax at 2 mills per dollar, a one-time charge.
Neither is a lender fee. Florida will not let a note or mortgage be enforced in court until the tax due is paid, per Starfield & Smith’s refresher. That is why the closing agent collects it at recording.
Why a Jumbo Balance Changes the Stakes
The tax rate does not change with the jumbo label. The tax base does. Doc stamps follow the amount secured, so a bigger loan means a bigger charge. Underwriting changes on a jumbo, not the rate.
Here is the catch. A promissory note that no mortgage secures has a $2,450 doc stamp cap, per the Department of Revenue. A recorded mortgage has no such ceiling, according to Starfield & Smith. A common misconception is that the cap protects large refinances. It does not.
A jumbo loan starts one dollar above the county’s conforming limit. FHFA publishes those limits each year, and some Florida counties sit above the baseline, so check FHFA’s county look-up rather than assume. Across the wholesale lanes Lendmire’s team places files with, jumbo loans run up to $5,000,000 on the largest lanes. At that size the state charges are a real line item, though lender guidelines and full file review decide what any one borrower can reach.
If you are comparing programs, Lendmire’s jumbo cash-out refinance program page lays out the structures in one place.
How the Charges Work, Step by Step
1. You qualify for a new jumbo first mortgage. The new loan equals the payoff of the old loan, plus any cash out, plus any financed costs. Doc stamps are figured on the full note and mortgage amount, the “amount secured.”
2. The lender sets the cash-out limits. Agency rules differ from jumbo rules. Fannie Mae’s eligibility matrix caps a one-unit principal-residence cash-out at 80% loan-to-value, but that is the conforming world. On the wholesale jumbo lanes, leverage reaches as high as 90% on the headline lane. Several lanes allow combined leverage of 89.99%, and the rest stop at 80%. Cash-out sits at lower leverage than a purchase, and the largest lanes add a cash cap. All of this is subject to lender guidelines.
3. The appraisal sets the value. Value drives how much you can borrow, and so the size of the tax base. Above a lane’s threshold amount, two appraisals are required.
4. You sign a new note and a new mortgage. The tax attaches to the signed promise to pay, per a Florida Department of Revenue advisement. Signing outside Florida does not avoid it. If the mortgage is recorded in Florida, both taxes are still due, per Starfield & Smith.
5. The taxes are paid at recording. Doc stamps may be paid by any party to the deal. The lender is the legal taxpayer for the intangible tax, but the cost is customarily passed to the borrower. Closing-agent practice varies.
How Are the Two Taxes Rounded and Totaled?
Doc stamps round up to the next $100. The intangible tax is not rounded the same way, per Pass Florida Real Estate. Show each rate on its own line when you check an estimate: $.35 per $100 for stamps, and 2 mills per dollar for the intangible tax.
Picture a refinance where the old loan is paid off and some cash comes out. The new loan is the sum. If a lender or closing agent figures the tax on that whole amount, the taxed base is the full new loan. If a renewal structure applies, the taxed base may shrink. The two readings can land far apart on a jumbo file. That gap is why the question belongs at the start of the process, not at the closing table.
Where Does the Closing Disclosure Show These Charges?
Look in Section E, Taxes and Other Government Fees. The CFPB’s rule on the Loan Estimate treats state fees based on the loan amount as transfer taxes, not recording fees. It also says the name used under state law is not decisive. So the line may not say “doc stamps.”
Recording fees are separate. The CFPB’s Closing Disclosure rule itemizes taxes and recording fees apart. When you compare quotes from different lenders, compare the full Section E total, not one line.
Can a Refinance Escape the Tax? The Renewal Exemption
Sometimes, in part. The Florida appellate opinion says home refinance loans may be exempt from both taxes to the extent the lender provides no new money to the borrower. Two conditions apply:
- For the stamp exemption, the new loan must be a “renewal” of the old loan.
- For the intangible exemption, the new loan must refinance the old loan with the same lender.
A cash-out loan adds new money by definition. So the exemption, where it applies at all, generally reaches only the old balance, and tax is due at least on the added portion. A refinance with a different lender does not qualify for the intangible exemption. KPMG’s tax summary reads the case the same way and notes the court found some refinanced loans qualified.
Treat the case as a lender-side tax dispute. Moffa Tax Law’s commentary calls it a win for the lender, and nothing in it promises a consumer savings. A renewal note that raises the unpaid balance of a term obligation owes stamp tax on the increase, according to a Florida law-firm article on minimizing mortgage taxes. Lendmire does not recommend a structure here. Ask your closing agent or tax adviser how your file would be treated.
Where the General Rule Breaks
Lines of credit and future advances. Doc stamps are based on the full debt secured, even if contingent. A large line secured by a mortgage can carry tax on the whole amount.
Second liens. A new second mortgage is its own secured debt and is taxed on its own amount.
Out-of-state signing. Covered above. It does not avoid the tax.
Occupancy. The state tax does not change with occupancy. Loan size and eligibility do. On the wholesale lanes, primary, second-home and investment occupancy each carry their own leverage. A second home or rental is a leverage question, not a tax one.
Divorce buyouts. Fannie Mae’s limited cash-out definition treats a buyout of an owner’s interest as limited cash-out when the property was jointly owned for the required period. The Department of Revenue’s divorce transfer note covers deeds, not the new mortgage. Do not assume the new loan escapes the tax.
What This Means for Your Cash and Your Loan
- Net proceeds. State taxes reduce the cash you actually receive on a cash-out.
- Cash to close. Ask whether closing costs are paid out of pocket or financed. Financing them raises the loan amount and so the tax base.
- Monthly budget. Financed costs lift the balance and the payment slightly.
- Eligibility. Cash-out leverage sits lower than purchase leverage, which limits how much equity you can tap.
Here is how a borrower might sequence it. Start with the equity target. Ask the closing agent how the tax base would be set. Then compare Section E totals across quotes. If the cost looks heavy against the cash you would net, a smaller cash-out or keeping your current loan may be the better call. If you need the equity for a major goal, the tax may be a fair cost of reaching it.
Questions to Ask Before You Commit
1. Will the taxes be figured on the full new loan or only the new money?
2. Could any part of this refinance qualify as a renewal?
3. Are the taxes paid in cash at closing, or financed into the balance?
4. Where do the charges appear in Section E, and under what label?
5. Does the lender or closing agent expect any difference if I sign outside Florida?
Key Terms Defined
Documentary stamp tax: A Florida tax on mortgages and other debt documents, based on the amount secured.
Nonrecurring intangible tax: A one-time Florida tax on the mortgage-secured debt, charged at 2 mills per dollar.
Amount secured: The face amount of the new mortgage, which sets the tax base.
New money: Cash a lender advances beyond the old loan’s balance.
Renewal: A refinance structured to continue the old loan rather than replace it.
Transfer taxes: The label the CFPB uses for state charges based on the loan amount.
Frequently Asked Questions
Is there a deed tax on a Florida refinance?
No. A refinance does not need a new deed because the owner does not change, per Atlantic Title.
Is the tax on my whole loan or only the cash I take out?
It depends on structure. Doc stamps follow the amount secured, which is the full new mortgage. A renewal structure may limit tax to new money. Your closing agent decides how your file is treated.
Are doc stamps capped on a jumbo loan?
No. The $2,450 cap applies to unsecured notes, not recorded mortgages. A larger jumbo balance means a larger charge.
Does a jumbo loan carry a higher doc stamp rate?
No. The rate is the same statewide. The tax just applies to a bigger amount.
Can I roll these taxes into the loan?
Often the costs can be paid at closing or financed, depending on the lender and leverage limits. Financing them raises the balance and the tax base. Ask for both versions in writing.
Tax treatment can depend on your situation; borrowers should speak with a qualified tax professional before relying on any deduction or credit.
If you are weighing a cash-out refinance against keeping the loan you have, Lendmire can help you compare the programs and the equity each one reaches. Program details are subject to lender guidelines and full file review, and nothing here is a commitment to lend.
For your own numbers, request a scenario review with Lendmire.
About Lendmire
As a mortgage broker (NMLS# 2371349), Lendmire helps homeowners and home buyers in 16 states with FHA, VA, conventional and jumbo purchase and refinance loans arranged through wholesale lenders. Lendmire is never the lender; program terms are set by the lender and the agency guidelines. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.
For the program’s current guidelines, see jumbo loan programs.
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References
1. Florida Department of Revenue, Documentary Stamp Tax guide
2. Florida First DCA opinion, Bank of America v. Florida DOR
4. Starfield & Smith’s refresher
5. FHFA, 2026 conforming loan limits release
6. Fannie Mae eligibility matrix
7. Florida Department of Revenue advisement
9. CFPB Regulation Z, section 1026.37
12. Moffa Tax Law’s commentary
13. Fannie Mae Selling Guide B2-1.3-02
14. Atlantic Title
This article is part of Lendmire’s Jumbo Loans series — every loan program’s qualification details, guidelines, and scenarios live on the loan options page.
Related reading: Cash-Out Refinance Requirements When the Loan Turns Jumbo · Can a Retiree on Asset Income Get a Jumbo Cash-Out Refinance? · Jumbo Cash-Out Refinance Rules for a Texas Second Home
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
- Mortgage Loan Originator · NMLS# 1129696 · Verify on NMLS Consumer Access
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Disclosure information. Lendmire is a state-licensed mortgage brokerage under NMLS# 2371349. Lendmire is not a depository institution, direct lender, or financial advisor — all loans referenced are placed through wholesale lender partners and are subject to each lender's underwriting standards. This article is provided for general informational purposes and is not a commitment to lend, nor does it constitute financial, legal, or tax advice. Loan programs, terms, rates, and qualification standards change without notice and depend on borrower profile, property type, and the state in which the subject property is located. Equal Housing Opportunity provider. NMLS Consumer Access: nmlsconsumeraccess.org.