Wondering how much cash you will need to close on a home in Titusville? You are not alone. First-time and move-up buyers often focus on the down payment and forget about closing costs that come with your loan, title work, insurance, and taxes. In this guide, you will see what buyers typically pay in Brevard County, how local factors like flood and insurance play in, and realistic examples to help you budget with confidence. Let’s dive in.
What closing costs cover
Closing costs are the one-time fees due when you finalize your purchase. They are separate from your down payment. A common planning range is 2% to 5% of the purchase price, but your exact number depends on your loan type, insurance, flood zone, title charges, and any seller credits.
In Titusville, you should also plan for coastal factors such as flood risk and insurance. These can affect both your upfront cash to close and your monthly escrow.
Typical buyer costs in Titusville
Below are the most common buyer-side items you will see on a Loan Estimate or Closing Disclosure. Amounts are typical ranges for Florida buyers and can vary by lender and property.
Loan fees
- Loan origination or processing: 0% to 1% of the loan amount
- Discount points (optional): 1 point equals 1% of the loan amount
- Credit report and application: about $25 to $75
- Underwriting or processing: about $200 to $900
Tip: Ask each lender for a detailed Loan Estimate so you can compare fees line by line.
Appraisal
- Typical cost: about $350 to $800, often $450 to $650 for single-family homes
- Coastal or unique properties may cost more to appraise
Title and settlement
- Title search or exam: about $150 to $400
- Settlement or closing fee: about $150 to $500
- Title insurance: owner’s and lender’s policies are priced by purchase price under Florida’s regulated rates
Local note: In many Florida transactions the seller often pays for the owner’s title policy, while the buyer pays lender-related title charges and endorsements. Customs vary by county and by contract, so confirm who pays what early in the process.
Inspections and reports
- General home inspection: about $300 to $700, commonly $350 to $600
- WDO (termite) inspection: about $50 to $150
- Optional tests, as needed: radon, mold, roof, sewer, septic or well, typically $75 to $500 each
In Titusville, older coastal homes or homes with septic or well systems may need extra inspections. Budget for at least a standard home inspection and WDO.
Surveys and HOA documents
- Survey: about $200 to $600, sometimes more for larger lots
- HOA or condo estoppel and document fees: often $100 to $400
Customs around who pays specific HOA fees can vary. Your contract should make this clear.
Prepaids and escrow
These are not fees but upfront funding for expenses you will pay again later.
- Property tax prorations: you reimburse the seller for their share of the current year’s taxes based on the closing date
- Homeowners insurance: many lenders collect the first-year premium at closing
- Escrow setup: lenders often collect a cushion of 1 to 3 months for taxes and insurance
- Mortgage insurance: may apply if you put less than 20% down
Coastal properties can carry higher homeowners and flood insurance premiums, which can raise your initial escrow deposit and your monthly payment.
State and county taxes
Florida charges documentary stamp tax on deeds and an intangible tax on new mortgages. These are state-level items, and rates are set by Florida law. Brevard County also charges recording fees. Your title company will calculate these based on your purchase and loan amounts.
Other small costs
- Prepaid interest from your closing date to the first payment date
- Courier, wire, and notary fees, often $25 to $50 each
- HOA or condo transfer fees when applicable
Who pays what in Brevard
Every contract is negotiable, but here is what is common in many Florida deals:
- Sellers often pay the commission, the owner’s title insurance policy, documentary stamp tax on the deed, prorated property taxes, and any agreed repairs. They also pay off their existing mortgage.
- Buyers typically pay lender-related fees, their inspections, lender’s title policy and related endorsements, and the prepaids and escrow deposits.
Your purchase contract and local custom will determine the final split. Confirm with your agent and title company before you write the offer.
Flood, insurance, and taxes in Titusville
- Flood insurance. If a property is in a FEMA Special Flood Hazard Area and you have a mortgage from a federally regulated lender, flood insurance is required. Premiums vary based on location, elevation, building features, and whether you use NFIP or a private policy. Some buyers order an elevation certificate to help determine rates.
- Homeowners insurance. Coastal exposure, windstorm deductibles, and building-code updates can influence premiums in Brevard. Lenders usually require proof of coverage and often collect the first-year premium at closing.
- Property taxes. Taxes are prorated to your closing date. Check assessed values and the county tax schedule when you estimate your cash to close. Lenders commonly require a tax escrow, especially if you put less than 20% down.
How much to budget
You can use the rule of thumb to plan your cash to close, then refine it once you have quotes from your lender, insurance agents, and the title company.
Rule-of-thumb ranges
- $200,000 purchase: about $4,000 to $10,000
- $350,000 purchase: about $7,000 to $17,500
- $500,000 purchase: about $10,000 to $25,000
These ranges include typical lender fees, title and settlement charges, inspections, prepaids, and initial escrow deposits. Your number will change with seller credits, insurance premiums, loan program, and any HOA fees.
Sample $350,000 breakdown
Here is an illustrative example to show how the pieces add up. Your numbers will differ, so always rely on your actual quotes and disclosures.
- Appraisal: $500
- Home inspection: $450
- WDO inspection: $75
- Loan origination and processing: $1,500
- Lender’s title policy and closing fee: $1,200
- Recording and county fees: $100
- Prepaid homeowners insurance and escrow cushion: $1,200
- Property tax prorations and escrow: $1,800
- Credit report, courier, miscellaneous: $150
- Estimated range total: about $6,000 to $12,000
Buyer checklist
Use this list to stay organized and avoid surprises.
- Get preapproved and request a Loan Estimate within 3 days of application.
- Ask at least two lenders to itemize origination, underwriting, points, and required escrows.
- Order your home inspection and WDO right after you go under contract.
- Confirm flood zone status and discuss flood insurance options early.
- Ask the title company for a written estimate of title charges, documentary taxes, and recording fees.
- Review HOA or condo documents and any estoppel fees if applicable.
- Compare your Closing Disclosure to your Loan Estimate at least 3 business days before closing.
Tips to keep costs predictable
- Compare lenders. Small differences in origination and underwriting fees can add up.
- Confirm who pays for the owner’s title policy and HOA estoppel fees in your offer.
- Get early insurance quotes for both homeowners and flood coverage so your escrow deposit is accurate.
- Ask about seller credits during negotiation, especially if your loan program allows them.
Next steps and local help
Closing costs are manageable when you plan ahead. Start with the 2% to 5% range, get quotes for your loan, title, and insurance, then update your budget as you move from offer to closing. If you need help estimating your cash to close, want to confirm local customs on title and taxes, or want introductions to trusted local lenders and inspectors, we are here to help.
Have questions about your Titusville purchase? Reach out to Pamela Jo Myers for local, broker-level guidance from a third-generation Space Coast expert.
FAQs
Who pays the owner’s title policy in Titusville?
- In many Florida transactions the seller often pays for the owner’s title insurance policy, but customs vary and the contract controls, so confirm with your agent and title company.
How are Brevard County property taxes prorated at closing?
- Taxes are split based on the closing date, with you reimbursing the seller for their share of the current year’s taxes up to the day you take ownership.
Will I need flood insurance in Titusville and how does it affect closing?
- If the home is in a FEMA Special Flood Hazard Area and you have a mortgage from a federally regulated lender, flood insurance is required, which increases your initial escrow and monthly payment.
How much should I budget for inspections in Titusville?
- Plan for a general home inspection of about $350 to $600 and a WDO inspection of about $50 to $150, plus any optional tests your property may require.
Can a seller contribute to my closing costs?
- Yes, seller credits are negotiable in many deals, and your loan program will set limits on how much the seller can contribute.
What Florida taxes appear on my closing?
- Florida typically charges a documentary stamp tax on the deed and an intangible tax on new mortgages, plus Brevard County recording fees calculated by the title company.
Will my lender require an escrow account for taxes and insurance?
- Many lenders require escrow for loans with less than 20% down or based on loan program rules, and they collect a few months of payments up front at closing.
