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Home Equity

Cash-Out Refinance in Florida

By AssistQuote Editorial Team

Reviewed by Shannon James Russell· Certified Financial Education Instructor℠ (CFEI®) and Mortgage Loan Originator, NMLS #1809525

Published September 24, 2026 · Last updated September 30, 2026

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The short answer

A Florida homeowner who wants cash from their equity has a cost question before comparing rates: will the state tax the entire replacement mortgage, or only the extra amount borrowed? A cash-out refinance pays off your old mortgage with a larger one and gives you the difference. Florida's documentary stamp and intangible taxes add up to about 0.55% of the amount subject to tax.

Changing lenders usually means the taxes apply to the whole new loan. Staying with your lender may limit the tax to the added amount, but only if the documents meet Florida's renewal rules. Your home secures the new mortgage. You could lose it if you cannot repay.

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Florida's mortgage taxes

Documentary stamp tax. 35 cents for every $100 the mortgage secures (0.35%). There's no cap on this tax for mortgages.

Nonrecurring intangible tax. $2 for every $1,000 (0.2%).

New lender vs. same lender

New lender. When a different lender pays off your old mortgage and records a new one, the taxes are usually due on the whole new loan. A new $300,000 mortgage would mean about $1,050 in doc stamp tax plus $600 in intangible tax, about $1,650.

Same lender. Florida law can exempt the part of the new loan that just renews your existing unpaid balance, if the paperwork meets the state's rules. Then you may pay tax only on the increase. If you owe $250,000 and refinance to $300,000 with the same lender, the taxes may apply to only the $50,000 of new money, about $275.

On these examples, the gap is $1,375. It is not an automatic same-lender discount: ask the lender whether your specific documents qualify, and get the tax amount in writing.

The big thing to check first

Start with your existing mortgage rate. Refinancing changes the rate on the entire balance, not just the cash you take out. A higher replacement rate could cost more over time even if the taxes on the added cash are modest.

A separate Florida home equity loan or HELOC leaves your first mortgage in place. The Florida mortgage taxes on a new $50,000 home equity loan would be about $275, instead of taxing a much larger replacement loan. Compare the second loan's rate and fees too.

What a Florida cash-out refinance costs

Price range

There is no single Florida refinance rate or payment to quote here. A lender's offer depends on your credit, equity and loan terms. Compare written Loan Estimates, including the state tax line, from lenders you choose.

Not a quote, offer or approval. AssistQuote is not a lender.

The tax is only one part of the bill. Look at lender charges, appraisal, title insurance and recording fees on each Loan Estimate. If closing costs are rolled into your new mortgage, you may not pay them in cash at closing, but you still borrow and pay for them. Check whether discount points or a rate buydown are included.

Also think about in Florida

Home insurance. Florida has the highest average home insurance cost in the U.S., and your lender will require coverage on the new loan. Compare Florida homeowners insurance.

Your equity cushion. Taking cash out lowers your equity. After a hurricane or a price drop, you'll have less room to sell or refinance.

What to ask before you choose

  • "Does this loan qualify as a renewal under Florida's rules? Show me the taxable amount."
  • "What will I pay in documentary stamp tax and intangible tax with your company?"
  • "How does replacing my current rate change my total cost?"
  • "Which closing costs or discount points are being added to my loan?"
  • "What would a separate home equity loan cost if I keep my first mortgage?"

The Florida takeaway: compare the taxable loan amount, not just the headline rate. A new-lender refinance can trigger tax on the whole mortgage, while a smaller second loan may have a smaller tax bill. The full loan cost still decides which choice fits.

Keep reading

Compare a Florida home equity loan, a HELOC, or a home equity investment.

More Florida guides: Florida homeowners insurance · Florida car insurance · Florida roofing laws · Florida home equity loans · Miami car insurance

Explore by state

Texas cash-out refinanceFlorida cash-out refinanceCalifornia cash-out refinanceOhio cash-out refinanceGeorgia cash-out refinance

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Questions people ask

Usually. The two Florida taxes total about 0.55% of the taxable mortgage amount. A new lender generally taxes the whole replacement loan; a qualifying renewal with the same lender may tax only the increase.

It can cost less to keep a low first-mortgage rate and borrow only what you need. Compare both Loan Estimates and how much you will repay over time. A smaller tax bill alone does not settle the choice.

Possibly, but not just because you stayed. The part renewing your unpaid balance may be exempt only when the documents meet Florida's rules. Ask the lender to show how the taxes were calculated.

No. You can see what to compare with just your ZIP code.

No. AssistQuote isn't a lender and doesn't decide who gets a loan.

Ready to see cash-out refinance options in Florida?

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Sources

  1. Florida Department of Revenue, Documentary stamp tax
  2. Florida Department of Revenue, Documentary stamp tax and nonrecurring intangible tax (TAA 12B4-002)
  3. Florida Statutes §201.09, Renewal of existing promissory notes and mortgages
  4. Florida Department of Revenue, TAA 88M-007: Documentary stamp tax and intangible tax on renewals
  5. CFPB, Loan Estimate explainer