The Quick Read: The state doc stamp tax is the same under both programs, because Florida taxes the new mortgage note, not the loan type. What differs is the size of the note being taxed and who may be charged for it. Miami-Dade’s separate rate applies to deeds, and a refinance records a new note and mortgage rather than a new deed.
Here is the honest answer on who each option fits. A VA cash-out is for a veteran or service member with a Certificate of Eligibility who wants to reach the most equity, up to 100% of the appraised value, with no mortgage insurance. A conventional cash-out is for a homeowner who does not have VA entitlement, or who wants to stay well below the maximum leverage. On doc stamps alone, neither one wins. Both pay the same formula on the new loan amount.
VA cash-out estimate
Seeded with an example value, a typical balance, and a round cash request at the first-use fee; change any field.
Editable benchmark: 7.18% as of November 5, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not a VA cash-out refinance quote.
Illustrative starting assumptions: a $350,000 home value, a $193,000 current balance, the full-value VA cap with the first-use funding fee financed, a thirty-year term at the current Freddie Mac benchmark, and property taxes and insurance estimated at typical national rates. 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 conventional benchmark, a market reference and not a VA cash-out refinance quote; a VA loan is priced by the lender at lock. The total loan, funding fee included, is capped at the program leverage on the reasonable value; the fee follows the tier chosen. The cash available is what the cap allows less the balances paid off and the fee, before closing costs, which are not included. 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. The debt-to-income figure is a guideline; residual income decides a VA file. Licensed in sixteen states for consumer mortgages.
Side-by-Side
| Factor | VA Cash-Out | Conventional Cash-Out |
|---|---|---|
| Maximum leverage | Up to 100% of appraised value | Lower than VA; set by lender guidelines |
| Mortgage insurance | None | Often required at higher leverage |
| Credit floor | 580 decision score on wholesale programs | Generally higher; varies by lender |
| Occupancy | Primary residence | Primary, second home or other, with tighter limits |
| Eligibility | Certificate of Eligibility required | No military service requirement |
| Documentation | Residual income and net tangible benefit | Debt-to-income and standard file review |
| Program-specific fee | VA funding fee, financeable, waived if exempt | None |
All figures are subject to lender guidelines and full file review, and nothing here is a commitment to lend.
What Florida Actually Taxes on a Refinance
Florida’s Department of Revenue says documentary stamp tax applies to deeds and to written obligations to pay money, including promissory notes and recorded mortgages. On notes and mortgages the tax is 35 cents per $100 of the amount secured, or any portion of it. The Department also states there is no cap on the tax due on a recorded mortgage.
That last point matters for a cash-out. The tax base is the whole new loan, not only the cash you take out. If you owe a large balance and borrow a bit more, the tax lands on the entire new note. A consumer cash-out is secured by a recorded mortgage, so the cap on unsecured notes generally gives a homeowner no relief, per the Department’s GT-800014 form.
A note and a mortgage on the same debt are not meant to double the stamps. Confirm the closing figures with your title company.
Doc Stamps, Intangible Tax and Funding Fee: Three Different Charges
People blur these together. Keep them apart.
- Documentary stamp tax: the state tax on the note and mortgage described above.
- Nonrecurring intangible tax: a separate Florida tax at 2 mills on the amount secured by Florida real property. The lender is the taxpayer but may pass the cost to the borrower, per the Department’s intangible tax page. It comes from Chapter 199 of the Florida Statutes.
- VA funding fee: a federal program charge that applies only to VA loans.
Doc stamps and intangible tax are government charges, not lender fees. They scale with the loan amount. They are not negotiable the way a lender-set fee might be.
Does Miami-Dade Charge More on a Refinance?
No extra mortgage stamp rate shows up in the sources. The Florida Department of Revenue lists Miami-Dade as an exception only for the deed rate. The standard deed rate applies in every other county. A cash-out refinance records a new note and mortgage, but no new deed. So the Miami-Dade deed difference is mainly a purchase-side issue.
Ask your title company to show the stamps line by line.
When a VA Cash-Out Is the Better Fit
A VA cash-out fits when equity access and monthly cost structure matter more than the tax line. Lendmire’s VA cash-out refinance program page lays out the basics, and the points below cover the mechanics.
- Highest leverage. Across the wholesale programs we place VA files with, a cash-out can reach 100% of the appraised value, including the financed funding fee. Few conventional paths reach that far.
- No mortgage insurance. VA loans carry none of any kind. A conventional cash-out at higher leverage often adds it.
- Lower credit floor. VA sets no minimum score itself. The wholesale programs we use start at a 580 decision score.
- Refinancing any loan type into VA. A homeowner with a non-VA loan can move into a VA-backed one. VA treats this as a cash-out, with full appraisal and underwriting.
- Residual income decides. The 41% debt-to-income figure is a guideline, not a cap. A higher ratio needs residual income well above the table.
The tradeoffs are real. VA requires a net tangible benefit, meaning the loan must meet one of eight benefits VA lists, and it has seasoning rules. The VA lender conference materials describe the net tangible benefit tests and the disclosure steps. The funding fee for a cash-out is 2.15% on first use and 3.3% on later use, and it is waived for veterans receiving compensation for a service-connected disability and other exempt groups.
Here is the doc stamp wrinkle. If you finance the funding fee, the note gets larger, so the state taxes a larger amount. The effect is modest, but it is real, and it grows if you borrow near the 100% ceiling.
On the allowable-charge side, VA rules help you. Under 38 CFR 36.4313, reasonable recording fees and recording taxes may be charged to the veteran. VA’s Circular 26-24-19 names the intangible tax among those charges and says lenders must support them with invoices and may not charge more than the actual amount. So a VA borrower is not exempt from Florida taxes, but VA rules do guard against padding.
When a Conventional Cash-Out Is the Better Fit
Conventional is the better fit when VA is not available, or when you would rather stay well under maximum leverage.
- No entitlement needed. A homeowner without a Certificate of Eligibility has no VA option at all. Conventional is the path.
- No funding fee. With less leverage, you skip the VA fee entirely. That can matter if you are not exempt.
- Wider occupancy options. VA is for a primary residence. Conventional can cover second homes and some other property types, though limits tighten for them.
- Delayed financing. Fannie Mae’s Selling Guide includes an exception for recent cash purchases, limiting the new loan to the documented initial investment plus financed closing costs.
The tradeoffs run the other way. Conventional cash-out generally caps leverage lower than VA, so you reach less equity. At higher leverage it often brings mortgage insurance and pricing consequences. A smaller note also means a smaller state tax bill, but only because you borrowed less, not because the program treats stamps differently.
A Same-Home Comparison Without Dollar Figures
Picture one Miami-Dade home with one payoff balance. Under VA, the borrower takes the maximum available and finances the funding fee. Under conventional, the borrower takes a lower-leverage loan.
The VA note is larger, so the doc stamps and intangible tax are larger. The VA borrower also receives more cash. Neither tax is a surcharge for choosing VA. They simply track the loan amount.
The state taxes and fees come out of proceeds or are rolled into the new balance, as long as the total stays within the 100% ceiling of the appraised value. On the Closing Disclosure, total closing costs and “Cash to Close” are different numbers. A cash-out can also lengthen payoff time, so the decision should rest on what the cash does for you.
Myths Worth Dropping
- “VA loans are exempt from Florida doc stamps.” No source supports this. VA rules allow recording taxes to be charged to the veteran.
- “Doc stamps and intangible tax are the same.” They are separate taxes under separate statutes.
- “Miami-Dade has a higher mortgage stamp rate.” The county exception is for deeds.
- “The lender always eats the intangible tax.” The lender is the taxpayer but may pass it to you.
- “A refinance triggers a deed tax.” A refinance records a new note and mortgage, not a new deed.
- “Zero cash to close means zero costs.” The costs are paid from proceeds or rolled into the balance.
Key Terms Defined
Documentary stamp tax: A Florida state tax on deeds, notes and recorded mortgages, based on the amount secured.
Nonrecurring intangible tax: A separate Florida tax on debt secured by Florida real property.
Net tangible benefit: A VA test requiring the cash-out to meet one of eight listed benefits for the veteran.
Residual income: The money left each month after major obligations, which is VA’s controlling underwriting test.
Certificate of Eligibility (COE): The VA document that confirms you qualify for the program.
Balanced Verdict
Do not choose between these two based on doc stamps. The formula is the same, and it applies to the whole new note. Choose based on eligibility, how much equity you need, whether mortgage insurance would apply, and whether the VA funding fee is waived for you.
If you are an eligible veteran who needs high leverage and wants no mortgage insurance, VA usually fits better, with the caveat that a larger note carries a larger state tax. If you lack entitlement, or you want a modest cash-out well below the ceiling, conventional may be simpler. Tax treatment can depend on your situation; borrowers should speak with a qualified tax professional before relying on any deduction or credit.
Frequently Asked Questions
Do I pay doc stamps again when I refinance in Miami-Dade?
Yes. A refinance creates a new note and mortgage, and Florida taxes the new debt. The earlier tax you paid does not carry over. Same-lender credits may exist in some cases, but that is not something to count on without confirmation from your title company.
Is the tax charged on the cash I take out or the whole loan?
The whole new loan. The Department of Revenue taxes the amount secured, and there is no cap on a recorded mortgage. A small cash-out on a large balance still carries tax on the full new note.
Can I roll the taxes into the loan?
Often, yes, within the program’s leverage ceiling. On a VA cash-out, the ceiling is 100% of appraised value including the financed funding fee. Rolling costs in raises the note, which raises the tax slightly. The lender must show all charges on the Closing Disclosure.
Does a VA loan avoid the Florida intangible tax?
No. VA’s circular lists the intangible tax among charges a veteran may pay. The lender is the taxpayer and may pass it on, but VA requires the charge to be supported and not exceed the actual amount.
Does Miami-Dade add anything extra on a refinance?
Not on the mortgage stamp rate, based on the Department’s rate table. Miami-Dade’s distinct rate applies to deeds. Ask your title company to itemize the lines on your Loan Estimate and Closing Disclosure.
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.
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.
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Informational only. Not a Loan Estimate, approval, or commitment to lend. Program availability and eligibility are subject to lender guidelines, credit approval, property review, and underwriting.
References
1. Florida Department of Revenue, Documentary Stamp Tax
3. Florida Department of Revenue, Nonrecurring Intangible Tax
4. Florida Statutes Chapter 199
5. VA lender conference materials
This article is part of Lendmire’s VA cash-out refinance program — full qualification details, guidelines, and scenarios live on the program page.
Related reading: VA Cash-Out Refinance vs Conventional Cash-Out Under VA Type 1 and Type 2 Refinance Rules · Can You Remove a Co-Borrower With a VA Cash-Out Refinance? · How a Co-Borrower Buyout Works on a VA Cash-Out Refinance
Guides: VA Cash-Out Refinance in Miami, FL · VA Cash-Out Refinance in Florida
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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Important disclosures. Lendmire (NMLS# 2371349) is a licensed mortgage brokerage. Lendmire is not a direct lender, depository institution, or financial advisor. All loan inquiries are subject to lender underwriting; this article does not constitute a commitment to lend. Rates, terms, and program guidelines are subject to change without notice and vary by borrower profile, property type, and state. Information in this article is general in nature and is not financial, legal, or tax advice. Equal Housing Opportunity. NMLS Consumer Access: nmlsconsumeraccess.org.