Home Buying in 11222>Question Details

Helen, Home Buyer in Home, WA

what are the closing costs for an apartment in Brooklyn?

Asked by Helen, Home, WA Mon Jul 7, 2008

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2
Hi Helen,

Gail is absolutely right. I would only add the following:

New York State is the only state in the Union that charges its resident a tax for taking out a mortgage, which I believe is approximately 1.875% of the loan amount.

The lender you choose will have an impact on the total cost for closing your purchase.

MY ADVICE: Interview direct lenders and large mortgage banks in the city to see what they are charging your to underwrite your loan (points) and what costs are they willing to absorb (appraisal, notary fees, survey, etc...)
Web Reference: http://www.CorleyRE.com
0 votes Thank Flag Link Tue Jul 8, 2008
Always figure 4-5% of sales price as your closing costs and walk out of the closing with a smile on your face and some $ in your pocket.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Mon Jul 7, 2008
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