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Updated 10 months ago on . Most recent reply

User Stats

28
Posts
13
Votes
Kenji Tominaga
  • Investor
  • Brooklyn, NY
13
Votes |
28
Posts

County Mortgage Tax paid by the Buyer?

Kenji Tominaga
  • Investor
  • Brooklyn, NY
Posted

Hi Tax masters,

I have a question about the county mortgage tax when purchasing a property.
I'm quoting a mortgage from 3 lenders for a small multi-family in Bushwick/Ridgewood area (Brooklyn NY), and one of them estimated the county mortgage tax in their quote when the other 2 didn't.
If anyone has some knowledges to share with this, I would appreciate it.

  • Kenji Tominaga
  • Most Popular Reply

    User Stats

    98
    Posts
    82
    Votes
    Jason Watson
    • CPA
    • Colorado Springs, CO
    82
    Votes |
    98
    Posts
    Jason Watson
    • CPA
    • Colorado Springs, CO
    Replied

    Other people in the lending space might have better answers, but some lenders quote taxes, insurance, etc. to fully understand the monthly cash burden and ensure you know it as well.

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