TOWNHOUSE AND SINGLE-FAMILY HOME
MORTGAGE CLOSING COSTS
Buyer’s Attorney Consult your attorney
Bank Fees $750+
Application Fee $350+
Processing Fee $330+
Appraisal Fee $500 – $2,000
Credit Report Fee $45 –  $100+
Bank Attorney $750 – $1,000
Tax Escrow 2 to 6 months
Recording Fees $250 – $750
Mortgage Tax – Real Property Only (Co-Ops Excluded)
Mortgage Tax – NYC (Paid by Borrower)
1 – 3 Family Home          • If mortgage is less than $500K:

1.8% of loan amount

• If mortgage is $500K or more:

1.925% of loan amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CO-OPERATIVE
MORTGAGE CLOSING COSTS
Buyer’s Attorney Consult your attorney
Bank Fees $550 – $1,000
Application Fee $350 – $650
Processing Fee $330 – $500
Appraisal Fee $500 – $2,000
Credit Report Fee $45 -$100+
Bank Attorney $650 – $750
Lien Search $250 – $350
UCC-1 Filing Fee $100
Mansion Tax 1% of entire purchase price where

price is $1,000,000 or more

 

 

 

 

 

 

 

 

 

 

CONDOMINIUM
MORTGAGE CLOSING COSTS
Buyer’s Attorney Consult your attorney
Bank Fees $750 – $1,000
Application Fee $550 – $1,000
Processing Fee $330 – $500
Appraisal Fee $500 – $2,000
Credit Report Fee $45 -$100+
Bank Attorney $650 – $750
Tax Escrow 2 to 6 months
Recording Fee $250 – $750
Fee Title Insurance Variable by transaction

Please consult your attorney
Mortgage Title Insurance Approx. $130 per $100K of

mortgage amount
Municipal Search $350 – $500
Mansion Tax 1% of entire purchase price

where price is $1,000,000 or

more
NYC Mortgage Tax • Mortgage less than $500k = 1.8%

• Mortgage $500K+ on 1-3 family

residential dwelling = 1.925%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This closing cost guide was created in order to help you to understand the general costs associated with the purchasing or selling of a home. Please be advised that these numbers are estimates and it is important to consult your financial advisor or real estate attorney for specific costs.