The NYC mansion tax is a real estate transfer tax on homes sold for over $1 million in New York City. It’s important for homebuyers in 2024 to know about this tax. It helps with budgeting and making smart choices.

Key Takeaways:

• The mansion tax applies to residential properties sold for $1 million or more in NYC
• Rates range from 1% to 3.9%, depending on the purchase price
• The buyer is responsible for paying the mansion tax at closing

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Continue reading “Calculate Your NYC Mansion Tax 2024: Comprehensive Buyer’s Guide”

 The New Jersey housing market can be highly competitive. In order to find and secure their dream home, buyers need every advantage they can get. One crucial tool to have in your arsenal is a mortgage pre-approval. At Robert DeFalco Realty in Colts Neck, NJ, our team of experienced agents is here to help you access the right resources and guide you through every step of the home buying process. Let’s delve into the differences between pre-qualification and pre-approval, and highlight their significant advantages for New Jersey homebuyers.

Pre-Qualification vs. Pre-Approval: Understanding the Distinction

While “pre-qualification” and “pre-approval” sound similar, they represent distinct stages in the mortgage journey. Here’s a breakdown:

Pre-Qualification:

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Welcome to 920 E 17th Street # 411!

Welcome home, where you will find this newly renovated oversized bright and airy one-bedroom, one-bathroom coop for sale right on a beautiful tree-lined street in the heart of Midwood. This stunning coop is a prime listing in Midwood’s competitive real estate market.

Walk into a spacious foyer and living area bathed in natural light. High 9-foot ceilings create an airy ambiance, perfect for modern living. Recently completed renovations have transformed this 1 bedroom 1 bath 750 square foot unit into a classic charm and contemporary elegance blend.

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 We know buying a home can feel overwhelming, especially when navigating the financial side of things, but fear not! This blog is your one-stop guide to understanding how much income you need to purchase a home on Staten Island.

To begin with, we’ll discuss factors like credit scores and different types of loans. We’ll also explore some neighborhood price ranges and sprinkle in some helpful info about the cost of living in New York to give you a well-rounded picture.

The Credit Checkup

Before diving into prices, let’s talk about credit scores. A good credit score (generally above 670) is key to securing a favorable mortgage interest rate. The lower your interest rate, the less you’ll pay over the loan term. In essence, you are saving you money in the long run. If your credit score isn’t quite there, don’t worry; you can take steps to improve it before you start house hunting.

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