The Quick Read: Florida taxes a recorded mortgage at two combined levels, 0.35% plus 0.20%, which comes to 0.55% of the full new loan amount. That is the whole new balance, not only the cash you take out. No dollar ceiling applies to a recorded mortgage, so a bigger jumbo balance means a proportionally bigger bill. A narrow exception for same-lender renewals may shrink the base, but it depends on how the loan is documented.
Key Takeaways
- Florida charges two separate taxes on a mortgage: documentary stamp tax (0.35%) and nonrecurring intangible tax (0.20%).
- The base is the full amount the mortgage secures, including the part that simply pays off your old loan.
- The cap you may have heard about applies to unsecured notes. It does not apply to a recorded mortgage.
- Jumbo loans carry no special rate. Size is the only driver.
- A same-lender renewal can limit the tax to the new money. Do not count on it until the title agent confirms it.
What Are the Two Florida Taxes on a Jumbo Cash-Out?
Florida levies two taxes when a mortgage is recorded: documentary stamp tax (doc stamps) and nonrecurring intangible tax. Together they equal 0.55% of the secured amount. Both are one-time charges collected at closing.
Doc stamps come first. The Florida Department of Revenue taxes mortgages, liens and security agreements when they are filed and recorded in Florida. The tax is 35 cents per $100 of the indebtedness the mortgage secures. Partial hundreds count as a full hundred, so the base rounds up.
The intangible tax is a second, separate tax. It sits under a different chapter of Florida law. It is 2 mills, which is 0.2%, of the obligation secured by a mortgage on Florida real property.
Add them and you get 0.55%. That is $5.50 per $1,000 borrowed. The math is simple, and that is the point. There is no hidden tier, no discount at higher balances, and no extra layer for jumbo.
Who owes the tax? The Department of Revenue says all parties to the document are liable, regardless of who agrees to pay. In practice, the cost customarily lands on the borrower as a closing cost. Plan for it that way.
This is a national explainer, and Florida is the worked example. Other states handle mortgage taxes differently, so do not carry these percentages across state lines.
Why Does Jumbo Size Matter If the Tax Is the Same?
Jumbo status does not change the tax percentage. It changes the dollar bill. A jumbo loan starts one dollar above your county’s conforming limit, and the Federal Housing Finance Agency sets those limits. They change yearly, which is why this article does not quote one. You can look up your county in the FHFA county limit file.
Here is how it plays out. A conforming loan and a jumbo loan of the same size pay the same tax. But jumbo balances are larger by definition. So the same 0.55% produces a bigger check at the closing table.
Across the wholesale programs Lendmire places files with, jumbo cash-out loans run to $5,000,000 on the largest lanes. Leverage tops out at 90% on the strongest lanes, and cash-out sits below that. That means a Florida borrower at the top of the range is looking at a tax bill in the tens of thousands of dollars. Not small. And it grows in a straight line with the loan.
If you are sizing a larger refinance, start with Lendmire’s jumbo cash-out refinance program to see which lanes reach your equity. Then build the tax into your cash-to-close estimate before you commit.
Why Is There No Cap on a Jumbo Mortgage?
A Florida cap on doc stamps exists, but it covers unsecured notes. A recorded mortgage has no ceiling. The Department of Revenue states the cap for notes and other written obligations to pay money. It does not extend that cap to mortgages. A Florida law firm’s summary says the same: no limit applies to mortgages or liens filed or recorded in Florida.
This is the most common mix-up. A borrower searches “doc stamp cap,” finds a fixed dollar number, and assumes it covers a seven-figure loan. It does not.
The confusion makes sense. Two documents are signed at a cash-out closing: a note and a mortgage. The note is the promise to repay. The mortgage is the lien on your home. When the mortgage is recorded in Florida, the tax is computed on the face amount it secures. The note’s cap does not rescue you.
Short version: do not budget around a cap. Budget around 0.55% of the full balance.
How the Tax Is Figured, Step by Step
Here is the sequence from application to recording.
1. Your new loan is sized. The balance equals your old payoff, plus any costs you finance, plus the cash you take out. The appraised value and the lender’s leverage limit cap that balance.
2. You sign a note and a mortgage. The mortgage is the recorded document, and it states the amount it secures.
3. The tax base is the secured amount. It is the face amount of the mortgage, not the net cash you walk away with.
4. Doc stamps are computed. Round the base up to the next $100. Apply 0.35%.
5. The intangible tax is computed. Apply 0.2% straight to the secured amount.
6. The title or settlement agent collects the funds. Tax is paid when the mortgage is recorded, and the agent remits it through the county clerk.
Notice what is missing. No step subtracts your payoff. No step looks at your net proceeds. The tax sees the face of the lien.
What Does the Tax Cost Relative to Your Cash?
For a cash-out borrower, the useful measure is not the tax as a share of the loan. It is the tax as a share of the cash you actually receive. A refinance that mostly pays off the old loan carries a heavy tax per dollar of cash.
The tax is always 0.55% of the new loan when the full balance is taxed. What changes is how much of that new loan is cash to you.
| Cash to you, as share of new loan | Tax as % of new loan | Tax as % of your cash |
|---|---|---|
| 10% | 0.55% | 5.5% |
| 25% | 0.55% | 2.2% |
| 50% | 0.55% | 1.1% |
Picture a homeowner whose new loan is 75% payoff and 25% cash. The tax is 0.55% of the whole loan. Measured against the cash, it is 2.2%. Now picture a homeowner whose new loan is 90% payoff and 10% cash. The same tax is 5.5% of the cash.
That second borrower may be better off asking a different question. Is a full cash-out refinance the right tool for a small cash need? This is a real decision point, and it is separate from your first-mortgage terms.
Is the Tax on the Whole New Loan or Only the New Money?
Generally it is on the whole new loan. There is one narrow exception, and it deserves care.
The Florida First District Court of Appeal addressed it in Department of Revenue v. Bank of America. The opinion describes two tests. For doc stamps, the new loan must be a “renewal” of the old loan. For the intangible tax, the new loan must refinance the old loan with the same lender. Where those tests are met, the exemption applies only to the extent the lender provides no new money.
In plain terms, here is what that may mean. If your jumbo cash-out stays with the lender that holds your current loan, and the paperwork is structured as a renewal, the tax may fall only on the cash-out increment. If you switch lenders, expect tax on the full new loan.
This is recent law, and the case is developing. The result depends on how the documents are drafted and on the lender’s process. A jumbo cash-out arranged through a broker often goes to a new lender, which puts the full-balance tax in play. Treat any reduction as a bonus the title agent confirms, not a number you plan around.
A Florida Department of Revenue advisory from about 1990 points the same way for the intangible tax. It says an obligation refinanced at the outstanding balance, with the original lender, is not taxed again. That guidance is old. Use it as background only.
Where the General Rule Breaks
A few edge cases change the picture. Know them before closing, not at it.
Signing outside Florida. If the note is signed and delivered outside the state but secured by a Florida mortgage, both taxes are still due when the mortgage is recorded. A Florida law firm’s refresher confirms this. Snowbirds and second-home owners who sign by mail or at a remote closing should not assume they escape the tax.
A line of credit instead of a fixed loan. The Department of Revenue taxes contingent secured debt. For a credit line, the secured maximum is the base. A cash-out has a fixed face amount, so the base is easy to see. A line makes you look at the maximum, not the balance you draw.
Deed taxes versus mortgage taxes. Deed doc stamps are a different tax, charged at a higher level on documents that transfer an interest in Florida real property. A cash-out on a home you already own involves no deed transfer. The one wrinkle is adding or removing a spouse at the same time. The Department of Revenue notes that interspousal transfers of mortgaged property are taxed on half the outstanding mortgage balance. If your refinance changes who is on title, ask the closing agent whether that rule applies.
Occupancy and program. The doc stamp statute does not care whether the home is a primary residence, a second home or something else. Occupancy affects the tax only indirectly, because it changes the leverage available and so the loan size. In the jumbo programs Lendmire works with, primary, second-home and investment occupancy each have their own leverage. That is the whole answer on occupancy. The tax follows the loan size.
Loan type. Jumbo, conforming, bank-statement and other loan types are taxed the same way. Size drives it.
Cash-Out Refinance or a Second Lien?
If you need cash but are happy with your current first mortgage, a second loan may carry a smaller tax base. A second lien secures only its own amount. Your existing first mortgage stays in place and is not retaxed.
That can look like an easy win. Sometimes it is. But the tradeoffs go beyond the state tax. A second loan leaves your first loan’s terms untouched, for better or worse. It adds a second payment. And lender availability and leverage differ by product.
| Factor | Full cash-out refinance | Second lien |
|---|---|---|
| Taxed amount | Whole new balance | Only the new lien |
| Existing first loan | Paid off and replaced | Stays in place |
| Number of payments | One | Two |
The honest answer is that it depends on what your first mortgage looks like. If your current loan is worth keeping, the tax savings on a second lien can tilt the decision. If it is not, the full refinance may still win despite the tax.
How Doc Stamps Interact With Jumbo Underwriting
Doc stamps do not change whether you qualify. They change how much cash you need and how big your balance gets.
Here is the envelope Lendmire works in across its wholesale jumbo lanes, subject to lender guidelines and full file review:
- A 660 decision score on the headline lane.
- Leverage up to 90% on the strongest lanes, with several reaching 89.99% combined leverage and the rest stopping at 80%.
- A 50% ratio ceiling on the fixed lanes, 45% on the adjustable lanes and 43% on the interest-only lanes.
- Loans to $5,000,000 on the largest lanes.
- Cash-out at lower leverage than purchase, with a cash cap on the largest lanes.
- Reserves measured in months of the full payment, rising with the loan amount.
- Two appraisals above a lane’s threshold amount. Terms depend on the lender’s guidelines, the property type, the leverage, and a full review of the credit profile.
So how do taxes fit in? Say you finance them into the loan. The balance rises, and so does the tax base itself. That balance must still fit inside the leverage limit and the appraisal. At high leverage, the room to roll in costs shrinks.
Say you pay them in cash instead. Your cash to close rises, and the reserve requirement still applies on top. Neither choice is free. This is a mechanics point, not a pitch. The exact numbers vary by lender and program and follow a full review of property, leverage, and credit.
Financing the taxes also nudges your monthly payment higher, because the balance is larger. This article does not quote a payment, but the direction is clear.
Where the Taxes Show Up on Your Closing Paperwork
The Consumer Financial Protection Bureau says government recording charges are listed in section E on page 2 of your Loan Estimate and section E on page 2 of your Closing Disclosure. Florida’s loan-amount taxes belong in that “Taxes and Other Government Fees” block. Flat per-page recording fees are a separate, small item.
Compare the Loan Estimate to the Closing Disclosure line by line. If the tax figure moved, ask why. A change in the loan amount is a common reason. A change in how the documents are structured is another.
One limit on what this article can tell you: whether Florida’s loan-amount taxes sit inside the same fee-tolerance bucket as ordinary recording charges is a compliance question. Ask your loan officer.
Common Misconceptions
- “Doc stamps are capped.” The cap is for unsecured notes. A recorded mortgage has none.
- “Doc stamps and the intangible tax are the same.” They are two taxes under different chapters of Florida law.
- “I only pay on the cash I take out.” Usually the base is the full secured amount. The same-lender renewal case is the narrow exception.
- “The lender pays it.” All parties are liable. The cost customarily falls on the borrower.
- “Jumbo loans carry extra state taxes.” The tax does not change with loan type. Only the size does.
- “A recording fee covers it.” Flat recording fees are a separate item from loan-amount taxes.
A Pre-Closing Checklist
Before you sign, work through these questions with your loan officer and the title or closing agent.
1. What is the exact secured amount the mortgage will state?
2. Is any part of this loan structured as a same-lender renewal? If so, who confirms it?
3. Are both taxes shown separately on the Loan Estimate?
4. Am I financing the taxes into the loan, or paying them in cash?
5. If financed, does the larger balance still fit inside the leverage limit and appraisal?
6. Will anyone be added to or removed from title at closing?
7. How does the cost of the full cash-out compare with a second lien at the same cash target?
The title or closing agent computes the exact figure. Treat everything here as the method, not the final number.
Cash-out decisions also deserve a hard look at the purpose. Turning unsecured debt into debt secured by your home raises the stakes if payments become hard to meet. Doc stamps add to the true cost of that move. 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.
Key Terms Defined
Documentary stamp tax (doc stamps): a Florida tax of 0.35% on the amount a recorded mortgage secures.
Nonrecurring intangible tax: a one-time Florida tax of 0.2% on the obligation secured by a mortgage on Florida real property.
Secured amount: the face amount of debt the mortgage covers, which sets the tax base.
Jumbo loan: a mortgage above the county’s conforming loan limit, which the FHFA sets.
Cash-out refinance: a new, larger loan that pays off your old one and gives you the difference in cash.
Renewal: a refinance structured as a continuation of the old loan with the same lender, which may limit tax to new money.
Combined leverage (CLTV): the total of all loans on the home as a percentage of its value.
Frequently Asked Questions
Do I pay Florida doc stamps again when I refinance?
Yes, in most cases. A new mortgage is a new recorded document, so the tax applies again to the new secured amount. The narrow exception is a same-lender renewal, where the tax may apply only to new money.
Is there a dollar limit on the tax for a very large jumbo loan?
No. The limit applies to unsecured notes, not to a recorded mortgage. A larger secured amount means a proportionally larger tax, and the intangible tax has no ceiling either.
Can I roll the doc stamps into the new loan?
Often, but it depends on the lender and the leverage limit. Financing the taxes raises your balance, and the tax is then computed on that higher balance. At high leverage, the room to add costs shrinks. A loan officer can tell you whether your file has room.
Does a jumbo loan owe more than a conforming loan of the same size?
No. The tax is the same for both. Jumbo loans simply tend to be larger, so the dollar amount is bigger.
What if I sign the closing documents outside Florida?
You still owe the taxes when the mortgage is recorded in Florida. Where you sign does not change the tax on a Florida mortgage.
For your own numbers, request a scenario review with Lendmire.
About Lendmire
Lendmire (NMLS# 2371349) is a mortgage brokerage serving homeowners and home buyers in 16 states. FHA, VA, conventional and jumbo purchase and refinance loans are arranged through wholesale lending channels; Lendmire brokers the financing and the lender underwrites each application. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.
Get Started
Ready to find the right loan for you?
In about 30 seconds you can review financing options available for your home or investment property. No commitment required.
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
2. Federal Housing Finance Agency: county loan limit file
4. Florida First District Court of Appeal: Department of Revenue v. Bank of America
5. Starfield & Smith: Florida documentary stamp and nonrecurring intangible tax refresher
6. Consumer Financial Protection Bureau: Government recording charges
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: Jumbo Cash-Out for High-Balance Homeowners: Terms That Decide It · 4 Myths About Qualifying for a Jumbo Cash-Out Refinance · Can an Athlete Declined by a Private Bank Get a Jumbo Cash-Out?
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
- Mortgage Loan Originator · NMLS# 1129696 · Verify on NMLS Consumer Access
- North Carolina Real Estate Broker · License# 343312 · Verify on NCREC
- North Carolina Insurance Producer · License# 19053198 · Property, Casualty, Life, Health · Verify on NAIC SBS
- Lendmire LLC · Firm NMLS# 2371349 · Verify firm licensure
Compliance and disclosures. Lendmire (NMLS# 2371349) is a licensed mortgage broker and is not a direct lender, depository institution, financial advisor, or tax professional. Content in this article is general market analysis and educational information — not financial, legal, or tax advice for any specific situation. Lendmire does not guarantee loan approval; every transaction is subject to underwriting by the funding lender. Mortgage pricing and loan program guidelines are subject to change at any time without notice and vary by borrower characteristics, property type, and state regulations. Lendmire complies with Equal Housing Opportunity. Licensure verification: NMLS Consumer Access.