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Closing Costs Calculator on a new condo

Started by lookinginnyc
almost 16 years ago
Posts: 11
Member since: Jan 2008
Discussion about
Is there a online calculator to find the closing costs on a new condo?
Response by Riversider
almost 16 years ago
Posts: 13572
Member since: Apr 2009

Offering plan has this.

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Response by ChrisT
almost 16 years ago
Posts: 91
Member since: Apr 2009

Chase has an online calculator that provides estimated closing costs.
http://mortgage.chase.com/pages/purchase/crq_p_landing.jsp

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Response by shong
almost 16 years ago
Posts: 616
Member since: Apr 2008

I dont think youll find an online calculator because closing costs can vary from one new condo to another. For new condos, besides the normal title fees, mortgage tax - 1.8% for up 499k loan amount and 1.925% for loan amounts 500k or above, you are likely to find the addition of transfer taxes - 1.4% of 500k or less purchase price and 1.825% for anything above, sponsor's attorney, and a couple of months of common charges for capital reserves or security. sunny.hong@bankofamerica.com

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Response by gcondo
almost 16 years ago
Posts: 1111
Member since: Feb 2009

is it over a mil? add 1% for your "mansion".

your bank, your attorney, their attorney, transfer tax, mortgage tax (if you have a mortgage), filing fees, reimbursement of sponsors pre-paid real estate tax, um, I think that's about it. oh and dont forget to tip that title search guy!! rofl

yeah the offering plan has it all, and ask your lawyer right?

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Response by lookinginnyc
almost 16 years ago
Posts: 11
Member since: Jan 2008

Thanks for all the advice. Its under a million.

gcondo - what did you mean by "dont forget to tip the title search guy"?

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Response by JR1
over 7 years ago
Posts: 184
Member since: Jun 2015

Use this: https://www.hauseit.com/closing-cost-calculator-for-buyer-nyc/

It's geared towards NYC and actually specific and accurate (with that said, all closing costs will vary by the transaction, so refer to your closing statement)

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Response by CaptainOfTheGate
over 7 years ago
Posts: 78
Member since: Jun 2017

the tip the title search guy, formerly a $250 or so surcharge put on the buyers by lawyers, is now illegal

Don't see it in the Hauseit calculator, good job gents

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