CEMA Mortgage

The NYC Mortgage Recording Tax is 1.8% for loans below $500k and 1.925% for loans above $500k. It does not apply to co-ops.

The Mortgage Recording Tax in NYC

By Sonja Gosine, Spokesperson at Hauseit® / April 17, 2020

The NYC Mortgage Recording Tax (MRT) is 1.8% for loans below $500k and 1.925% for loans of $500k or more. The MRT is the largest buyer closing cost in NYC. How much Mortgage Recording Tax you pay is based on [...]

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What is a Purchase CEMA mortgage in NYC? Are purchase CEMA loans worthwhile?

Purchase CEMA Mortgage – Negotiating a Purchase CEMA Loan in NYC

By Sonja Gosine, Spokesperson at Hauseit® / November 20, 2017

A Purchase CEMA is a strategy for reducing your closing costs when buying or selling a condo or house in New York City. A Purchase CEMA is also known as a Purchase Consolidation Extension Modification Agreement. The Purchase CEMA itself

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