Co-op Closing Costs:
It is important to note that the closing costs for a Co-op are very different than buying a condo, or a house. Why?
When you buy a Co-op you are buying shares in a corporation versus buying real property. Therefore there is no mortgage tax and there is no need for the full title insurance that one purchases when buying real property.
Coop Closing Costs are roughly the same for any priced coop. The closing costs will total roughly $4000. This will include the lenders charges, the appraisal, credit report fee, lenders attorney, the lien search, recording fee to the county clerks office, and the per diem interest which depends on the day of the month you are closing.
For more detailed information call us or click here to fill out a form and we will reply as soon as possible.
At Fidelity First Mortgage we pride ourselves on making each person feel like they are our only client. We are licensed mortgage brokers in the States of New York and Florida. We are approved with a net work of lenders so we can offer the best rates and lowest closing costs. We have been in business since 1995. We offer mortgage solutions for all residential, co-op, condo, residential homes like 1 to 4 family homes, commercial loans, and mortgages for fixed rate properties.
We've been helping customers afford the home of their dreams for 30 years and we love what we do. Licensed in NY and Florida
Company NMLS: 5947
www.nmlsconsumeraccess.org
Fidelity First Mortgage Corp is a registered Mortgage Broker with the NYS Dept of Financial Services. And with the Florida Dept of Financial Services. All loans are arranged through 3rd Party Lenders.
Headquarters:
3974 Amboy Road Suite 302
STATEN ISLAND, NY 10308
Phone: (718) 759-1035
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