Fees paid at the closing of a real estate transaction, typically 2-5% of the loan amount. In Florida, closing costs include documentary stamp tax ($0.70 per $100), intangible tax ($0.20 per $100 on new mortgages), title insurance, appraisal fee, lender origination fees, and recording fees. The buyer and seller each pay different closing costs.
Definition reviewed by Renzo Johnson, Licensed MLO, NMLS #PENDING. Last updated February 2026.