Westchester County Home Purchase Calculator

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.

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.

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.

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.

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.

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.

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.