Buying a home in Tampa costs the down payment, closing costs, prepaid taxes and insurance, and first-year costs like moving and repairs. Florida adds state taxes on your mortgage, and a home in a community development district, like Tampa Palms in New Tampa or Panther Trace in Riverview, carries a CDD assessment on top of property taxes.
The Down Payment Is the Number You Already Know
The down payment gets the most attention, and it's also the piece buyers tend to overestimate. FHA, VA and conventional loans each set their own minimums, and a down payment well under the old rule of thumb is allowed on all three, with mortgage insurance or program fees covering the lender's extra risk.
The right amount depends on your credit, your savings and how long you plan to stay. If FHA is on your list, the Tampa FHA loan guide covers current county limits and how the mortgage insurance works. Our own home financing page explains how we work with lenders on your behalf.
Keep some cash back after the down payment, because everything else on this list comes due at closing or soon after, and it adds up faster than you'd expect.
Florida Closing Costs and the Taxes Buyers Pay
Closing costs cover the work and the government charges that turn a contract into a recorded sale. Expect lender fees, the appraisal, the lender's title insurance policy, a survey, recording fees and Florida's state taxes on the loan itself.
That last part surprises people moving in from other states. Florida charges a documentary stamp tax on the new mortgage note of 35 cents for every $100 you borrow, plus a separate intangible tax on the mortgage, and on a financed purchase those land on the buyer's side of the closing statement. Who pays for the owner's title policy is negotiable and follows local custom, so ask your agent before you sign.
Closing costs are also one of the easiest places to negotiate. In 2025, our agents negotiated $3.1 million in seller-paid closing costs for Florida homebuyers. Our guide to Florida closing costs shows what sellers can cover and how to ask.
Prepaids and Escrow Are Due at the Table
Prepaids aren't fees for a service. They're money you put in up front for bills that come later, and they're due at closing alongside everything else.
Your lender will usually want your first year of homeowners insurance paid in full, a starting balance in your escrow account for property taxes and insurance, and interest for the days between closing and the end of the month. Property taxes are the wild card, because the seller's bill rarely matches yours, and our post on Florida property taxes for buyers explains why.
Insurance is the prepaid that moves most with the address. Look up the exact house on FEMA's flood map before you make an offer, since a high-risk zone can add a flood policy to your first-year costs, and order a wind mitigation inspection, because Florida law requires insurers to offer discounts for roof strength, wall-to-foundation strength and opening protection. On an older Tampa block home, that report can change the premium you pay at closing.
You'll see the final figures on your Closing Disclosure, which the Consumer Financial Protection Bureau's rules say lenders must send you at least three business days before you finalize your loan. Compare it line by line with your Loan Estimate and ask about anything that moved.
First-Year Costs That Don't Show Up on the Closing Statement
Moving costs come first, and they climb quickly for a long-distance move with a full household. Then come utility deposits and setup fees, and our Florida utilities directory lists the providers city by city so you can call ahead.
Repairs come next. Even a home that passed inspection will usually need something in the first months, and the notes from your Florida home inspection are the best place to start a first-year budget.
Then there's the community itself. HOA dues and special assessments can add a real monthly amount, and a home inside a community development district, or CDD, carries a separate assessment that pays for certain public facilities and services in the district. Florida law requires the contract for a home's first sale in a CDD to carry a bold notice that the district may levy those assessments on top of county taxes, with the amounts set each year by the district's board.
You can see which neighborhoods have one before you tour. The Hillsborough County list of community development districts kept by the Supervisor of Elections includes Tampa Palms and K-Bar Ranch in New Tampa and Panther Trace in Riverview, and Pasco's elections office lists Wesley Chapel districts like Wiregrass, Meadow Pointe and Bridgewater of Wesley Chapel. A resale buyer won't always see the builder's notice, so ask for the current assessment before your inspection period ends. Our free Florida buyer's guide puts the whole timeline, costs included, in one place.
Frequently asked questions
What is a CDD fee on a home in Riverview or New Tampa?
It's an assessment from a community development district, a special district that pays for certain public facilities and services where you live. Florida law says the amounts are set each year by the district's board and come on top of county taxes, so ask for the current figure before your inspection period ends.
How much are closing costs for a buyer in Tampa?
It depends on the price, the loan and what the seller agrees to cover. Your lender's Loan Estimate gives you an itemized number shortly after you apply, and your agent can negotiate for the seller to pay part of it.
Do buyers pay documentary stamp tax in Florida?
On a financed purchase, yes. The buyer usually pays the documentary stamp tax on the new mortgage note, which is 35 cents per $100 borrowed, plus the intangible tax on the mortgage.
What are prepaids when buying a house?
Prepaids are money you put in at closing for costs that come later, like your first year of homeowners insurance, a starting escrow balance for taxes and insurance, and interest for the rest of the closing month. They aren't lender fees.
Can the seller pay my closing costs in Florida?
Yes, if it's negotiated into the contract and your loan program allows it. Seller-paid closing costs are a concession our agents ask for regularly.