Loan Estimate Challenges
Florida’s Biggest LE Challenges
12.14.2023
Community
Florida is another state in which title insurance rates are promulgated (set by regulatory authority). However, the rates may vary by type of mortgage transaction. Refinance mortgages are of particular interest, as a substitution discount or reissue may be available.
Intangible taxes
Florida is also one of the few states in the nation to levy an intangible tax for mortgages, In essence, this is a one-time tax on the ownership of the property in question. It is assessed at the time a mortgage is recorded.
Transfer and deed taxes
Finally, transfer taxes are generally uniform, county by county, across the state. There is one exception to this in Miami-Dade county, where the deviation is confined to deed taxes.
RELATED POSTS
Loan Estimate Challenges
North Carolina’s Biggest LE Challenges
Like many others, North Carolina is an “attorney state,” requiring all real estate closings involve an attorney.
Loan Estimate Challenges
Nevada’s Biggest LE Challenges
Known as “The Silver State” and home to one of the nation’s largest tourist destinations, Las Vegas, Nevada, like many Western states, takes a fairly straight forward approach when it comes to potential LE challenges.