The Complete Guide to the NYC Mortgage Recording Tax
The NYC Mortgage Recording Tax (MRT), a.k a. Mortgage Tax in NYC, equals 1.8% for loans below $500k and 1.925% for mortgages over $500k. As a result, the MRT is the highest buyer closing cost in NYC. Authorities calculate the… Read More
What is a Bridge Loan to buy a Home in New York?
New Yorkers often struggle to get the downpayment when buying a property in New York City. Getting a mortgage isn’t easy. Many options help people get to ownership of an NYC home. The two most significant concerns buyers face when getting… Read More
What is a private mortgage insurance on mortgage in NYC?
When you first apply for financing during your real estate purchase, you will hear about many different terms. Along with the various loan types (ARM, conventional, FHA, VA), you may also listen to whispers about mortgage insurance. If you get… Read More
2023 Tax Benefits for Investment Properties in NYC
Purchasing an investment property is an efficient way of receiving some passive income. However, investing in NYC remains attractive, given the high rental income that it entails. However, investors and owners struggle with the costs of buying, owning, and operating… Read More