Your monthly payment
Principal & interest—
Property taxes—
Homeowners insurance—
PITI — what your lender quotes—
Maintenance—
Total monthly cost—
Lenders quote “PITI” as principal, interest, taxes and insurance. Maintenance is shown separately so you can compare either way.
Cash needed at close — click a line for detail
Your jurisdiction's rate — leave 0/blank if none
Applies to the full price at or above this — blank if none
% of the loan — leave 0/blank if none
Custom models these two location taxes only — other jurisdiction-specific closing charges are not modeled here. Confirm your county's actual rates and rules before relying on the numbers.
Down payment
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Taxes & government fees
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One-time taxes collected at closing. New York charges a 1% "mansion tax" on the full price when a home sells for $1M or more (NY Tax Law §1402-a). The mortgage recording tax in most of Westchester totals 1.3% of the loan — the lender customarily pays 0.25%, leaving 1.05% to the borrower (Yonkers: 1.8% total, 1.55% borrower share). County recording and filing fees typically run $200–$500. Sources: NYS Department of Taxation and Finance; Westchester County Clerk.
Mansion tax
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New York's 1% "mansion tax" applies to residential purchases of $1,000,000 or more and is customarily paid by the buyer. It applies to the full purchase price, not just the amount over the threshold: $999,999 owes $0; $1,000,000 owes $10,000. Source: NY Tax Law §1402-a; NYS Department of Taxation and Finance.
Mortgage recording tax
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New York taxes the recording of a mortgage (not the deed). In most of Westchester the combined rate is 1.3% of the loan; the lender customarily pays the 0.25% "special additional" portion, leaving 1.05% to the borrower. Yonkers adds a city portion: 1.8% combined, 1.55% borrower share. A cash purchase records no mortgage, so this tax doesn't apply. Sources: NYS Department of Taxation and Finance; Westchester County Clerk.
Recording a Declaration of Homestead ($35 statewide) raises the creditor protection on your home equity from the automatic $125,000 to $500,000 under G.L. c.188. It's cheap and usually worth doing at closing — zero this line out if you'll skip it. Source: Secretary of the Commonwealth registry fee schedule.
The MLC — the town's certificate of outstanding taxes and charges on the property — is customarily obtained and paid on the seller's side in Massachusetts (the state's closing guidance lists it under seller responsibilities), so the default here is $0. Enter a figure only if your contract shifts it to you: the registry recording fee is $80 and the town's issuance charge varies by municipality. Sources: mass.gov closing & settlement guidance (RE07R25); Sec. of the Commonwealth fee schedule.
Land Bank fee
2% of price
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Martha's Vineyard and Nantucket each charge a 2% Land Bank fee on the purchase price, paid by the buyer at closing (it funds land conservation). Qualifying first-time homebuyers are exempt on the first portion of the price — currently the first $1,000,000 on Martha's Vineyard (Form LB2, 2026) and the first $1,400,000 on Nantucket (as of January 2026; the commission resets the amount each January). Both require making the home your primary residence and claw the fee back with interest if requirements aren't met within five years — confirm current rules with your island's Land Bank. Sources: MV Land Bank; Nantucket Land Bank.
Title & attorney
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Title insurance protects you and your lender if someone later challenges ownership of the home. New York premiums are filed with the state under the TIRSA rate manual and typically land around 0.4–0.75% of the price for lender's and owner's policies combined — 0.65% is a middle-of-the-road default. A title search usually runs $300–$600, and a real-estate attorney (required in practice for NY closings) typically $1,500–$3,500 in Westchester. Sources: TIRSA rate manual; typical Westchester closing quotes.
Title insurance (lender's + owner's)
of price
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A one-time premium at closing covering an owner's policy (protects you) and a loan policy (protects the lender) against ownership defects, undisclosed liens, and fraud. New York premiums are filed with the state under the TIRSA rate manual; combined premiums typically run about 0.4–0.75% of the price, so 0.65% is a middle default. Your title agent quotes the exact filed rate. Source: TIRSA rate manual.
A co-op purchase transfers shares, not a deed, so there's no title insurance. Instead your attorney runs a lien and judgment search on the unit and the co-op corporation, and the loan is filed as a UCC-1 financing statement with the City Register ($20 electronic / $40 paper) rather than a recorded mortgage. Typical combined cost $300–$700. Source: NYC Dept. of Finance UCC guidance.
Lender & inspection fees
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What the lender and inspectors charge to make the loan: origination (varies widely by lender — often $0–$1,500, or quoted as points), appraisal (about $500–$800 in Westchester), credit report (~$50), flood certification (~$20), home inspection ($400–$800), and survey ($500–$1,000 if a new one is needed). Inspection, survey, and title services are shoppable; the lender's own charges appear on your Loan Estimate and are worth comparing across lenders. Source: CFPB Loan Estimate guidance; typical Westchester quotes.
Many co-op buildings charge a transfer ("flip") fee on sales — usually paid by the seller, but it's building-specific and occasionally shifted to the buyer. Leave $0 unless your building's documents say otherwise; your attorney will confirm from the proprietary lease and house rules.
Prepaids & escrow deposits
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Cash you bring to closing that stays yours: the first year of homeowner's insurance paid up front, interest from your closing date to month-end (loan × rate ÷ 365 × days), and the opening deposit in the lender's escrow account for future tax and insurance bills. Federal rules cap the escrow cushion at two months (RESPA, 12 CFR §1024.17); two to three months of taxes and insurance at closing is typical. These lines are computed from the rate, taxes, and insurance you entered above — not flat estimates. Source: Consumer Financial Protection Bureau.
Homeowner's insurance — first year prepaid
= your yearly insurance
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Prepaid daily interest
days
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Escrow deposit — property taxes
months
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Escrow deposit — insurance
months
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Total closing costs
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Total cash needed at close
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Massachusetts notes (as of August 2026): the state deeds excise (typically $4.56 per $1,000) is customarily paid by the seller, so it isn't in this buyer ledger — Barnstable County's higher excise is likewise a seller cost. Title V septic inspection applies to homes not on public sewer (a seller obligation that can shape deals). Nonresident sellers face a state withholding process on $1M+ sales (seller-side). Coastal and island homeowners insurance can run well above the default here — get a real quote. Several municipalities have proposed local real-estate transfer fees; none are active (the legislative session ended July 2026 without enactment).
Over the life of the loan
Where you stand after year…
Year 15
Rent vs. buy — first-year view
Principal vs. interest, year by year
Principal
Interest
Amortization schedule — expand, then click a year to see months
| Period | Rate | Payment | Interest | Principal | Balance |
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Estimates for illustration only — not lending, legal, tax, or investment advice. ARM projections are scenarios bounded by the caps you enter, not rate forecasts. Tax figures assume itemizing and current federal rules; consult a tax professional. Actual loan terms, taxes and insurance vary; confirm figures with your lender.