closing

… Buying in New York City means paying painful extra costs but nothing makes this as clear as the socalled mansion tax which kicks in when you purchase a property for … cost that is shouldered by many buyers The mansion tax aka New York State Tax 1402a  can increase your closing costs by …

… and the tax for the buyer is calculated on the unpaid principal  Heres how it works Say an initial mortgage was … tax rate of 18 percent You dont pay twice for the unpaid principal of the original mortgage when the loan is assigned …