Are you planning a Parkland move and wondering how to make Florida’s Save Our Homes benefit work with your mortgage? You’re not alone. Many Broward buyers and sellers can lower their tax burden through portability, but the timing with lenders, title, and the county can be tricky. In this guide, you’ll learn how portability affects your loan approval, escrow, and monthly payment, plus the steps to line up filings so you stay on track. Let’s dive in.
Save Our Homes portability, simplified
Save Our Homes limits how fast your homestead’s assessed value can rise each year. Over time, that creates a gap between market value and assessed value. Portability lets you transfer some or all of that gap to your next Florida homestead so your new assessed value is lower.
- Portability applies only to a Florida homestead you occupy as your primary residence.
- You must file for a new homestead exemption at the Parkland property and request the portability transfer with Broward County.
- Inter-county moves within Florida can port the benefit. Moves from another state cannot, unless you already had a Florida homestead differential to transfer.
For forms and local instructions, visit the Broward County Property Appraiser’s homestead pages. For statewide guidance, review the Florida Department of Revenue’s property tax resources.
Why portability matters to your loan
Your lender qualifies you using PITI: principal, interest, taxes, and insurance. If portability lowers your taxes, it can reduce your monthly payment and the escrow your lender collects at closing.
Here’s the catch: lenders usually need the lower tax figure to appear in county records or in an official estimate from the property appraiser before using it in underwriting. If portability is not processed yet, many lenders will underwrite with higher, unreduced taxes.
- Lower taxes can help if your debt-to-income ratio is tight.
- Smaller taxes can shrink escrow deposits and cash needed at closing.
- If the county has not confirmed portability, expect your lender to use a higher estimate until official documentation is provided.
Timing: closing vs. the tax roll
A common timing gap happens when you close before Broward finalizes your homestead exemption and portability transfer. Title and the lender rely on current records and may collect escrow based on higher taxes.
Once portability is approved and reflected by the county, contact your mortgage servicer. The servicer can recalculate your escrow and may issue a refund or credit future payments. Policies vary by servicer, so ask how adjustments are handled.
Loan types and down payments
Different loan programs treat property taxes a bit differently in underwriting.
- Conventional, FHA, VA, jumbo, and portfolio loans all require lenders to estimate taxes. Some will accept a signed estimate from the property appraiser showing portability; others need the figure on the tax roll.
- Low down payment loans increase loan-to-value and may require mortgage insurance. Mortgage insurance is separate from property taxes.
- If your approval depends on the lower tax number, tell your lender early. Ask exactly what documentation they will accept to reflect portability in your file.
Parkland move playbook
Use this step-by-step plan to coordinate your move, financing, and filings.
Pre-offer readiness
- Confirm eligibility. Make sure you had a Florida homestead that created a Save Our Homes differential to port.
- Gather documents. Collect prior homestead approval letters, recent tax bills showing homestead status, your prior deed, and assessment records. Also gather Florida residency documents, like a driver’s license or declaration of domicile.
- If you are moving from out of state and have no Florida homestead history, you can claim a new Broward homestead but cannot port a prior benefit.
During contract and loan application
- Tell your lender you plan to transfer portability and provide prior homestead documents.
- Request an official estimated tax letter from the Broward County Property Appraiser showing taxes with portability applied. Share it with your lender and title company so they can use it for underwriting and escrow if their policies allow.
- Ask title how taxes will be prorated and whether they can rely on the county’s estimate. If not, prepare for a larger escrow cushion and set clear expectations for a post-closing adjustment.
- If your approval depends on portability, ask your lender about conditional underwriting based on the county estimate and what must be on file before closing.
Closing window and key deadlines
- Florida’s homestead exemption deadline is March 1 for the tax year you are claiming. If you close before March 1 and want the exemption to apply that year, file your homestead and portability request promptly after closing.
- Ask Broward about current processing times and whether they can issue a preliminary estimate while your application is pending.
After closing
- File for homestead and submit the portability request with Broward right away, including all supporting documents.
- When you receive confirmation, send it to your mortgage servicer and title company to request escrow recalculation or proration corrections as needed.
- Watch for your TRIM notice or tax bill to confirm the applied portability. If something looks off, contact the property appraiser.
Real Parkland scenarios
Moving within Broward to Parkland
Keeping it in-county often makes documentation and communication easier. File your homestead and portability right after closing and request a written tax estimate from Broward for your lender and title.
Moving from another Florida county
You can port your benefit to Parkland. Provide proof of your prior Florida homestead to Broward. If the prior county offers a portability value certificate, share it with Broward, your lender, and title.
Moving from out of state
Portability applies only to prior Florida homesteads. If you do not have one, apply for a new Broward homestead without a portable differential.
Buying new construction in Parkland
New builds can have tax roll timing lags. Apply for homestead and portability at closing if eligible, and ask Broward for an estimate so your lender can model PITI as accurately as possible.
Closing late vs. early in the year
- Late-year closings usually use the most recent tax roll for proration. A portability reduction applied later typically affects the next tax bill.
- Early-year closings before March 1 can capture the current year’s homestead and portability if you file on time.
Role-based checklists
Buyer checklist
- Collect prior homestead proof and last year’s tax records.
- Tell your lender about portability on day one and share documents.
- Line up Florida residency documents to support your homestead filing.
Lender checklist
- Confirm whether an official county estimate with portability applied is acceptable for underwriting.
- If portability is pending, explain what tax figure you will use and how escrow may be adjusted later.
- Communicate clearly with title about estimated taxes and escrow requirements.
Title/settlement checklist
- Request current tax information and any official county estimate to use for prorations.
- Outline in writing how prorations and escrow will be handled if portability is approved after closing.
- Coordinate with the lender on any escrow cushion and post-closing adjustments.
Property appraiser checklist
- Provide homestead and portability forms, deadlines, and expected processing timelines.
- If available, issue a written tax estimate with portability applied for the lender and title to rely on.
- After approval, issue documentation showing the transferred differential and new assessed value.
Case study: two paths to Parkland
- Buyer A moves from Fort Lauderdale to Parkland. Before underwriting, they submit prior homestead documents and request an official Broward estimate with portability applied. The lender uses that estimate to qualify and set escrow. Buyer A closes with confidence and avoids an extra escrow cushion.
- Buyer B closes without filing portability. The lender used the higher tax figure, so Buyer B paid a larger escrow at closing. After filing and approval, Buyer B sends documentation to the servicer, who recalculates escrow and applies a credit to future payments.
The lesson: start early, get an official estimate, and keep your lender and title looped in.
Smart next steps
- Gather your prior homestead and Florida residency documents now.
- Ask Broward for a written tax estimate that shows portability applied.
- Share the estimate with your lender and title and confirm how they will use it.
If you want a Parkland move plan tailored to your budget and timeline, reach out to Team Delgado Home Experts. We will coordinate with your lender and title, help you file on time, and keep your move stress-free. Get Your Free Home Valuation and map your next step with confidence.
FAQs
What is Save Our Homes portability for Parkland buyers?
- It lets you transfer the assessment difference from your prior Florida homestead to your new homestead in Parkland, lowering the assessed value used for property taxes.
How does portability affect my mortgage approval?
- Lower property taxes can reduce PITI, which may improve qualifying ratios and shrink escrow. Lenders usually need an official county figure to use the reduced taxes in underwriting.
Can I port from another Florida county to Broward?
- Yes. Provide proof of your prior Florida homestead to Broward and request portability with your new homestead filing.
What if I am moving to Parkland from out of state?
- You can apply for a Broward homestead, but you cannot port a benefit unless you had a prior Florida homestead differential.
When should I file for homestead and portability after closing?
- File as soon as you close, and before March 1 if you want it to apply for that tax year. Processing times vary, so ask Broward for timing and any available estimate letter.
What happens if portability is approved after I close?
- Send the county’s approval to your mortgage servicer. They will recalculate escrow and may issue a refund or credit future payments according to their policy.
