Mortgages in Tennessee and Florida: What Relocating Georgians Should Know
The loan programs travel with you. Almost nothing else does.
Conventional, FHA, VA, and USDA financing works identically in Tennessee, Florida, and Georgia because these are federal or GSE programs. What changes is state taxes at closing, insurance cost, and — in Florida specifically — condominium financing, which has become substantially harder to navigate. Tennessee charges a recordation tax of $0.115 per $100 of indebtedness with the first $2,000 exempt. Florida charges documentary stamp tax on the note plus a separate intangible tax on the mortgage.
Here is what actually differs.
What is Tennessee’s mortgage recording tax?
Tennessee charges a recordation tax on the indebtedness at $0.115 per $100, with the first $2,000 of total indebtedness exempt on each instrument (Tennessee Department of Revenue, 2026). If the total indebtedness is under $2,000, no recordation tax is due.
How that compares. Georgia’s intangible tax is $1.50 per $500, which is $3.00 per $1,000. Tennessee’s works out to $1.15 per $1,000.
| Loan amount | Georgia intangible tax | Tennessee recordation tax |
|---|---|---|
| $200,000 | $600 | ~$228 |
| $300,000 | $900 | ~$343 |
| $400,000 | $1,200 | ~$458 |
Tennessee figures reflect the $2,000 exemption applied before calculation.
Tennessee does not levy a state income tax on wages. This does not change your mortgage qualification — lenders use gross income, before taxes — but it changes your actual take-home and therefore what payment you can comfortably carry. Your debt-to-income ratio will look the same in both states on the same salary.
Tennessee does not require an attorney to conduct residential closings the way Georgia does. Closings there are commonly handled by title companies.
What changes when you move from Georgia to Florida?
Florida charges more than one tax on a financed purchase, which surprises Georgia buyers who are used to a single intangible tax.
Documentary stamp tax on the note: $0.35 per $100 of the note amount, capped at $2,450 (Florida Department of Revenue, 2026).
Nonrecurring intangible tax on the mortgage: 2 mills, or $0.002 per dollar — 0.2% of the loan amount (Florida Department of Revenue, 2026).
Documentary stamp tax on the deed is charged separately on the sale price. By Florida custom rather than statute, the seller typically pays the deed stamps and the buyer typically pays the note stamps and the intangible tax.
A worked comparison on a $300,000 loan:
| Georgia | Florida | |
|---|---|---|
| Tax on the loan | $900 (intangible) | $1,050 doc stamps + $600 intangible = $1,650 |
Florida is meaningfully more expensive on the loan side.
Why is it harder to finance a Florida condo now?
This is the single biggest change for anyone who last bought in Florida several years ago. Florida now requires milestone inspections and structural reserve studies for qualifying condominium buildings, and agency condominium project standards have tightened alongside them.
- If a structural or mechanical inspection was completed within three years of the lender’s review, the lender must obtain and review that report
- Associations that have not completed required studies or funded identified repairs to critical components can render a project ineligible for agency-backed financing
What this means practically: a Florida condominium can be a fine property and still be unfinanceable with a conventional loan if its association has not completed required studies or funded identified repairs. Ask about project eligibility before you spend money on inspections, not after.
Insurance is the real variable
For most Florida purchases, insurance matters more than taxes.
Wind and hail coverage may be excluded from a standard homeowners policy and require separate coverage. Flood insurance may be required depending on the flood zone. Premiums vary enormously by location, construction type, roof age, and elevation.
This affects your loan directly. Insurance flows into escrow, escrow is part of your monthly payment, and the payment is part of your debt-to-income ratio. A high premium can reduce what you qualify for or make an otherwise-workable file unworkable.
Price insurance in parallel with the loan application, not after you are under contract. On Florida purchases it is more often the deciding variable than the rate is, and a quote that comes back late can end a transaction that was otherwise clean.
Will my Florida property taxes match the seller’s tax bill?
Florida’s homestead exemption and its assessment growth limitation for homesteaded property work differently from Georgia’s exemption. Both affect the property tax figure that flows into your escrow.
Two things Georgians frequently get wrong:
- The prior owner’s tax bill is not your tax bill. If the seller held the property for years under an assessment cap, your assessment resets on transfer, and your taxes can be substantially higher than what the listing shows.
- You must apply for homestead exemption. It does not transfer with the property, and there is a filing deadline.
The reset-on-transfer issue is the most common escrow surprise on Florida purchases for out-of-state buyers. Basing a payment estimate on the seller’s current tax bill produces a number that can be materially wrong. Ask your loan originator to estimate taxes on the purchase price rather than the current assessment.
Can one lender handle a purchase in Georgia, Tennessee, or Florida?
- Loan programs. Conventional, FHA, VA, USDA — same rules, same documentation, same qualification math.
- Your credit and income evaluation. Identical.
- The 2026 baseline conforming limit of $832,750 for one-unit properties (FHFA, 2026), with higher limits in designated high-cost counties.
- The appraisal process, subject to program-specific property standards.
If you are relocating rather than shopping remotely
Employment. Changing jobs as part of the move usually means the lender wants the offer letter and often a start date before closing. Moving from salaried to self-employed complicates things considerably.
Buying before selling. If you own a Georgia home and are buying in Tennessee or Florida, lenders may count both housing payments in your debt-to-income ratio unless the Georgia home is sold or you can document qualifying rental income. This remains the most common reason relocation files stall.
One lender across states. Georgia Platinum Mortgage is a licensed mortgage broker serving Georgia, Alabama, Tennessee, Florida, and Texas. One application and one point of contact, whichever state the property is in — which matters most when you are selling in one and buying in another.
Contact us today if you are relocating out of Georgia or shopping in more than one state. We will get you pre-approved once and tell you exactly what changes when you cross the line.
Frequently asked questions
Does Tennessee have a mortgage tax?
Yes, a recordation tax on indebtedness at $0.115 per $100, with the first $2,000 of total indebtedness exempt on each instrument. It is lower per dollar borrowed than Georgia’s intangible recording tax.
What taxes do I pay on a Florida mortgage?
Two. Documentary stamp tax on the note at $0.35 per $100 of the note amount, capped at $2,450, and a nonrecurring intangible tax on the mortgage at 0.2% of the loan amount. Documentary stamp tax on the deed is separate and by custom is typically paid by the seller.
Do I need flood insurance in Florida?
It depends on the flood zone. Where required, it is a condition of the loan. Separately, wind and hail coverage may be excluded from a standard homeowners policy and require separate coverage. Both flow into escrow and affect what you qualify for.
What is a Structural Integrity Reserve Study?
A study Florida requires for qualifying condominium buildings, assessing the reserves needed for structural components. Along with milestone inspections, it has become a factor in whether a condominium project is eligible for agency-backed financing.
Can I get a mortgage on a Florida condo that has not completed its reserve study?
It may be difficult. Lenders review condominium project eligibility, and an association that has not completed required studies or funded identified repairs to critical components can render the project ineligible for agency-backed financing. Ask about project status before spending money on inspections.
Does Tennessee’s lack of a state income tax help me qualify for more?
No. Lenders qualify you on gross income before taxes, so your debt-to-income ratio is the same in either state on the same salary. It does change your take-home pay, and therefore what payment you can comfortably carry — which is a different question from what you qualify for.
Do I need a new homestead exemption if I move to Florida?
Yes. Florida’s homestead exemption must be applied for and does not transfer with the property. There is a filing deadline. The exemption and Florida’s assessment limitation both affect the tax figure that flows into your escrow.
Can I buy in Florida before selling my Georgia home?
Often, but lenders may count both housing payments in your debt-to-income ratio unless the Georgia home is sold or you can document qualifying rental income. This is the most common reason relocation files stall, and it is worth resolving before making an offer.
Written by Wrx Kimura, Mortgage Loan Originator, NMLS #2759723 Wrx Kimura originates residential mortgages for Georgia Platinum Mortgage, a licensed mortgage broker comparing loan options across a wide panel of wholesale lenders for buyers in Georgia, Alabama, Tennessee, Florida, and Texas.
Georgia Platinum Mortgage — NMLS #144366
Last reviewed: August 2026
Georgia Platinum Mortgage is a mortgage broker and does not fund loans. This article is educational and is not a loan commitment, an offer of credit, a quote of terms, or tax or legal advice. State tax rules, condominium requirements, and agency project standards change frequently; confirm current figures before relying on this article. Equal Housing Opportunity.