Mortgage recording tax with traditional/FHA loans​

[Louis L.]

Im wondering what others actual expenses are for mortgage recording tax. From my research (I live in nyc) mortgage recording tax for a $600k mortgage on an $800k multifamily is a hefty $11.1k (roughly - but im calculating this per the NY formula). I want to see if this is reflective of what others are actually paying.

I still have more research to do, but if my LTV was 96.5% with an FHA loan, this tax would be astronomical.

How have others dealt with this? I'm sure it varies by state but for those of you in a state where this is significant, how has it affected your returns?

Thanks in advance!