Mortgage Calculator
One of the most helpful tools in buying a house is knowing how much your
monthly payment will be. This simple worksheet has been created to help you calculate your monthly payment .
All you need to do is enter your payment term in years, the interest rate, and any other information you have and
click 'calculate payment'.
Term:
7 yrs
15 yrs
30 yrs
Rate:
Price:
Percent
Down:
%
Maintenance:
Taxes (Monthly):
Your Payments
Mortgage
Amount:
$0
Down
Payment :
$0
Mortgage Payment:
$0
per month
Total Monthly Payment:
$0
(with maintenance & taxes)
Closing Costs:
FOR THE SELLER
Own Attorney
$1,850 - $2,500
Stock Transfer Stamps
$.05 per share
NYC Real Property Transfer Tax
1% of purchase price if $500,000 or less of the entire amount
1.425% of purchase price if over $500,000 of the entire amount
NYS Transfer Tax
.4% (.004) of purchase price
UCC-3 Filing
$75 + up
Flip Tax(If Applicable)
Determined by co-operative building
Payoff Bank Attorney(If Applicable)
$450 + up
Managing Agent Fee
$500 - $750
Move-Out Deposit
$500 - $1,000(Usually refundable if no damage)
Broker Commission
6% of purchase price
Estate Fees
Co-op may impose additional fees for estate sales
Lost Stock & Lease Fees
$250 - $750
E Tax Filing (ACRIS)
$50
NYS Capital Gains Tax Witholding
7.7% of gain
Non-US Resident (FIRPTA)
10% of purchase price withheld or paid
FOR THE PURCHASER
Own Attorney
$1,600 + up*
Managing Agent
$250 + up
Credit Report Fee
$50 - $100 per applicant
Lead Based Paint Disclosure Fee
$0 - $50
Mansion Tax
1% of purchase price when over $1 million
Move-In Deposit
$500 - $1,000(Usually refundable if no damage)
Lien Search $350
MORTGAGE ASSOCIATED FEES
Origination Costs - Points 0 - 3% value of loan
Application, Credit Check, etc. $500 + up
Appraisal $275 + up
Bank Attorney $500 + up
UCC-1 Filing $75 + up
Maintenance Adjustment Prorated for month of closing
* Check with bank/mortgage broker for additional fees . New York State Law requires a written letter of engagement if the legal fee will exceed $3,000. Non New York State residents should procure exemption for state transfer tax forms (TP584) . These are only estimates. Please confirm closing costs for specific transactions with your attorney and/or mortgage representative.
Closing Costs:
FOR THE SELLER
Own Attorney
$1,850 - $2,500
NYC Real Property Transfer Tax
1% of purchase price if $500,000 or less
1.425% of purchase price if over $500,000
NYS Transfer Tax
.4% (.004) of purchase price
Payoff Bank Fees (if applicable)
$250 + up
Managing Agent Fee
$250 - $750
Move-Out Deposit
$500 - $1,000(Usually refundable if no damage)
Broker Commission
6% of purchase price
E Tax Filing (ACRIS)
$50 - $200
NYS Capital Gains Tax Withholding
7.7% of gain
Non-US Resident (FIRPTA)
10% of purchase price witheld or paid
FOR THE PURCHASER
Own Attorney
$2,000 - $2,500
Managing Agent Fee
$250 - $500
Credit Report Fee
$50 - $100 per applicant
Lead Based Paint Disclosure Fee
$0 - $50
Mansion Tax
1% of total purchase price where $1 million and over
Move-In Deposit
$500 - $1000(Usually refundable if no damage)
Common charges, real estate taxes and insurance premium
Adjustments pro rated as of closing
MORTGAGE ASSOCIATED FEES
Origination Costs - Points 0 - 3% of value loan
Application, Credit Check, etc. $500 + up
Appraisal $275 + up
Bank Attorney $500 + up
UCC-1 Filing $75 + up
Mortgage Recording Tax Up to $500,000 is 1.8% of mortgae less $30
Over $500,000 is 1.925% of mortgage less $30
Title Insurance, Title Search & Recording Fees Approximately 0.5% - 0.8% of purchase price
Building Searches $200 - $400
Recording Charge $17 per document plus $5 per page
Real Estate Tax Escrow 2 - 6 months
IF PURCHASED DIRECTLY FROM SPONSOR (i.e. new construction)
NYC Real Property Transfer Tax 1% of purchase price up to $500,000
1.425% of purchase price over 500,000
NYS Transfer Tax $4 per $1,000 of purchase price
Sponsor's Attorney Fee $1,500 + up
Working Capital Fund Contribution An amount equal to 1 or 2 months common charges
* Check with bank/mortgage broker for additional fees . New York State Law requires a written letter of engagement if the legal fee will exceed $3,000. Non New York State residents should procure exemption for state transfer tax forms (TP584) . These are only estimates. Please confirm closing costs for specific transactions with your attorney and/or mortgage representative.
