Estimate the total cash you need at closing using New York market data. Property tax and insurance are pre-filled with current New York averages.
Avg Cap Rate
4.8%
Median Price
$576K
Property Tax
1.23%
Vacancy Rate
5.5%
Local Factors
Total Cash to Close
$131,571
What does this mean?
Your closing costs fall within the normal range. This is standard for most conventional and FHA purchases. You may be able to negotiate seller concessions to offset some of these fees.
Buyer closing costs are the fees and expenses you pay on top of the purchase price when buying a home. They typically range from 2% to 5% of the purchase price, though they can vary significantly by location and loan type.
Lender fees include the origination fee (what the lender charges to process your loan), discount points (prepaid interest to buy down your rate), the appraisal, and credit report.
Title & escrow costs cover title insurance, the title search, settlement agent fees, recording the deed with the county, and any transfer taxes. These vary widely by state.
Prepaids & reserves are costs you pay upfront: your first year of homeowner's insurance, per-diem mortgage interest from closing day to month-end, and escrow reserves.
Pro tip: You can often negotiate seller concessions — especially in a buyer's market. FHA allows up to 6% in seller concessions, conventional typically allows 3–6% depending on down payment.
Keep running the numbers
Know your New York cash to close. Now see if you're actually ready.
Calculate your monthly mortgage payment, total interest, and see a full cost breakdown.
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