Mansion or not, you can't escape the so-called mansion tax

… Buying in New York City means paying painful extra costs but nothing … cost that is shouldered by many buyers The mansion tax aka New York State Tax 1402a  can increase your closing costs by thousands Its also possible you may have to pay it on a new development unit priced below a $1 million Thats because …

By Jennifer White Karp |April 14, 2025 - 10:00AM
What is a CEMA loan, and how can it reduce my mortgage recording tax?

… modification agreement or CEMA is a loan only available to New Yorkers The most common CEMA is offered to those who are … loan you take the existing mortgage consolidate it with the new one and pay the tax on the gap between the two said … of $100000 on your mortgage and then refinance with a new lender for a mortgage of $200000 you will only have to …

By Evelyn Battaglia |March 25, 2025 - 9:30AM
How first-time buyers can apply for up to $100,000 in down payment assistance

… More New Yorkersthough not manywill soon be able to snag up to … purchase of a condo coop or one to fourfamily house in New York City Mayor Eric Adams announced on Thursday that … last decade HomeFirst has been a powerful tool in providing New Yorkers with the resources to become homeowners Adams …

By Celia Young |February 3, 2025 - 3:00PM