Closing Cost Calculator

Fill out the forms below to know what to expect when closing.

General Information

Price and Downpayment

Subtotal: $18,250

Fees for Condo/Townhouse

You will require the services of an attorney and other companies in order to perform due diligence on the property. All relevant documents must be copied, certified, and filed with the New York City Register. Mansion Tax must be paid on all real estate purchases over $1000000.
Starting at $2,000
$250-$350, if applicable
Starting at $500
$450 per $100,000
1% if the price plus NYS and NYC Transfer tax > $1,000,000 Subtotal: $4,500

Fees for Coop

Attorney and lien search company will help you with due diligence on the property and recording of the contract. All real estate purchases over $1,000,000 are subject to Mansion Tax.
Starting at $2,000
1% if the price plus NYS and NYC Transfer tax > $1,000,000
Subtotal: $4,500

Building-Related Fees

Each building has its own Board that sets the rules specific to their building. Such rules cover such procedures as application and approval of future residents, the move-in procedure, sublet policy, and any repairs and improvements on the building. Residents are responsible for monthly charges for common areas and services in the building.
$200 and up
$500-$1000, usually refundable
One month of common charges, prorated for the month
$0-$50
Subtotal: $5,500

Bank and Mortgage-Associated Fees

Employing a mortgage in the financing of your purchase will cause you to incur the costs and fees associated with the mortgage application process. Depending on the institution, fees may be fixed or negotiable, and vary across the board. You will have to acquire an independent appraisal and a mortgage title insurance. Mortgage costs tend to run from3% to 6% of the borrowed amount, and the Mortgage Tax in New York is paid once when the mortgage is obtained.
$400 and up
$30-$80 per applicant
$300 and up
0-3% of value of the loan
$75-$125
$400 and up
$300 - $350
$400 - $1200
If mortgage < $499,999 then 1.8% of mortgage If mortgage > $499,999 then 1.925% of mortgage
$200 per 100,000
Subtotal: $
Buying From Sponsor
Fees for Condo/Townhouse 0
Fees for Coop 0
Building-Related Fees 0
Bank and Mortgage-Associated Fees 0
Total Cost 0

General Information

Attorneys

Your attorney will provide you with legal guidance and representation during title clearance, preparation and signing of the contract.
$2,000 and up Subtotal:

Taxes

In the state of New York, the Automated City Registering Information System is used to compute and file Real Estate Property Transfer Taxes. Tax Withholding is a due upon sale withholding for Sellers whose primary residence is outside of the New York State. The withholding is calculated from the gross sales price. Foreign nationals are subject to the 10% tax withholding at the time of sale. In case the seller's Capital Gain tax is smaller than the withheld amount, the Seller will receive tax refund from the State. Capital gain is taxed on the difference between the purchase and sales price of the property, adjusted for capital improvements and selling expenses.
If price < $499,999 then 1%. If price > $499,999 then 1.425%.
0.4% of sales price
For out-of-state US residents, 7.7% of gain
For non-US residents, 10% of sales price
$0.05 per share
If applicable, $250-$750
Subtotal: $

Recording, Filing

UCC-3 is a public record indicating the satisfaction of a mortgage on a real property. Usually the Seller pays only a small fraction of the total recording fees. Most recording fees are normally paid by the Buyer.
Subtotal: $

Bank Fees

Your bank and lending institution often charge a fee to process and expedite the mortgage or loan payoff.
$300 and up
$150-$300
Subtotal: $

Building-Related Fees

$300-$700
$500-$1000, usually refundable
Subtotal: $1,250

Brokers

6% of sales price Subtotal: $
Attorney Fees 0
Taxes 0
Recording / Filing 0
Bank Fees 0
Building-Related Fees
Broker Comission 0
Total Cost 0