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Save money on closing costs with any Florida credit union

 All Florida credit unions are exempt from the intangible tax on mortgages, according to Julie Holt of Anclote Title Services. I recently blogged about saving money by using the Navy Federal Credit Union, which was correct, but I thought you should know that the intangible tax exemption applies to all Florida credit union mortgages.

The intangible tax is 20 cents per $100, which would be a $200 saving for every $100,000 of mortgage. It is generally paid by the buyer, unless the contract states otherwise.

 

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  1. L Shoemaker

    Regarding Intangible Tax in Florida. Technically, it is not $.20 per hundred as you state, but rather $.002 per dollar.
    Lucia Shoemaker
    Paralegal
    Stearns Bank NA

  2. sharonsimms

    Thanks for the clarification, Lucia.

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