Find the new money
Subtract the balance available for assignment from the new loan. The model caps the assignment at the new loan amount.
New loan − assigned balance = gap
Purchase and refinance / New York
New York CEMA Calculator
See whether assigning an existing mortgage could reduce recording tax—and whether the savings remain worthwhile after fees.
No contact details needed to calculate.
01 / Your numbers
Start with your assumptions.
Review the labels and units, calculate, then use the explanation below to understand the result.
Know the assumptions. Compare borrower mortgage recording tax, then review any separately confirmed seller savings. County rates, tax adjustments and fees are visible and editable. The result is a planning estimate, not a closing quote. All figures are estimates, not a loan offer.
Compare your CEMA scenario
Enter your loan figures, select the county, then review the tax and fee assumptions before calculating. You can also load a hypothetical example.
Only the amount that can be assigned and retained counts.
Include the balance being carried forward, plus new borrowing.
The full contract price, before any continuing-lien deduction.
Borrower tax rates: 1.925% without / with CEMA. Additional fees: $2,000–$4,000. Buyer fee share: 100%. Tax reductions and seller savings start at zero.
Review rates, fees and tax adjustments
Default rates estimate the borrower’s share for a standard residential mortgage, assuming the lender pays the usual 0.25% special additional tax. Exempt lenders and unusual transactions can differ. NYC defaults use the new total loan’s bracket for both comparisons; ask your title provider whether the new-money mortgage needs a different rate.
Borrower share. A quoted rate is required for other counties.
Editable separately when your title provider confirms the treatment.
Example only: assignment, preparation, legal and recording costs.
Use the incremental cost of CEMA, not all closing costs.
Some eligible homes receive a $25 or $30 reduction. Enter the confirmed amount.
A separate new-money mortgage may qualify; a consolidation alone may not. Defaults exclude this reduction.
Seller savings are optional. Add them only if the attorney has confirmed a continuing-lien deduction for this transaction. These are separate from the buyer’s mortgage recording tax savings.
The standard $10,000 residential exclusion applies only to one component of the tax, not to the full tax rate. Eligibility and recording structure matter. This model excludes mansion tax savings and other local transfer taxes; it is not a full closing-cost estimate.
Sources: NYS MT-15 (1/25), residential exclusion, NYS transfer tax, and NYC transfer tax. Confirm tax allocation, lender participation and legal structure with your title provider and attorney.
02 / Behind the estimate
Follow the numbers.
An assignment must be available and accepted. County, property, loan size, tax adjustments and actual fees matter. Seller transfer-tax exclusions are separate, optional assumptions requiring transaction-specific confirmation.
Compare the recording tax
Compare the borrower tax on the full loan with the tax on the gap, using the rates and adjustments shown.
Tax without CEMA − tax with CEMA
Account for the fees
Subtract the additional CEMA fees. Review borrower and seller results separately on a purchase.
Gross savings − additional fees
Start with net savings
The highlighted range accounts for your entered fee range. A positive gross tax saving can still produce a negative net result when the fees are larger.
Keep borrower and seller savings separate
A purchase can have separate seller transfer-tax considerations. Do not assume the optional continuing-lien exclusions apply just because the recording-tax calculation looks favorable.
03 / The details that matter
What changes your result?
Keep the formula and the real-world review connected.
Assigned balance
Confirm the balance that can actually be assigned. A payoff estimate and a usable assignment are different inputs.
County and property
The county preset is a starting assumption. Check the rate, borrower allocation and any adjustment with the title company.
Fees and timing
Assignment, title and legal costs reduce savings. Delays or an unavailable assignment can change the decision.
Purchase or refinance
A purchase involves the seller’s existing mortgage and cooperation. A refinance involves your own existing lien.
Know which savings you are comparing.
| Amount | What it represents | What to confirm |
|---|---|---|
| Borrower recording-tax savings | Tax without CEMA less tax with CEMA | Rate, gap, assignment and adjustments |
| Borrower net savings | Recording-tax savings less allocated CEMA fees | Actual fee quotes and who pays |
| Optional seller savings | Separately selected transfer-tax exclusions | Eligibility, documentation and title review |
- Amount
- Borrower recording-tax savings
- What it represents
- Tax without CEMA less tax with CEMA
- What to confirm
- Rate, gap, assignment and adjustments
- Amount
- Borrower net savings
- What it represents
- Recording-tax savings less allocated CEMA fees
- What to confirm
- Actual fee quotes and who pays
- Amount
- Optional seller savings
- What it represents
- Separately selected transfer-tax exclusions
- What to confirm
- Eligibility, documentation and title review
The tool’s default fee range is an editable example, not a fee quote. A co-op does not have the real-property mortgage recording tax modeled here.
04 / Questions answered
New York CEMA questions, answered.
01
Recording tax
Start with the location and tax being compared.
How much is mortgage recording tax in New York City?
The tool’s standard residential borrower-share preset is 1.8% below $500,000 and 1.925% at $500,000 or more.
These exclude the usual lender-paid 0.25% special tax. Property details, adjustments and the actual transaction must be confirmed with title; this is not a closing quote.
Read the NYS mortgage recording tax formDo mortgage recording tax rates vary by New York county?
Yes. County, loan size and tax allocation affect the calculation.
This model presets Yonkers at 1.55%; Westchester outside Yonkers and Rockland at 1.05%; Nassau, Suffolk, Orange, Putnam and Dutchess at 0.80%. These are borrower-share assumptions; other counties require a quoted rate. Review the editable rates and adjustments.
Check the NYS rate informationIs mortgage recording tax deductible in New York?
This calculator does not determine income-tax deductions or property basis.
It compares an upfront transaction cost. Ask your tax professional how the recording tax and other closing costs are treated in your situation.
Return to the calculatorHow do I minimize New York mortgage recording tax?
An eligible CEMA may reduce the amount of new mortgage debt subject to recording tax.
Whether it is worthwhile depends on assignment availability and fees. A seller credit can shift who pays a cost; it does not by itself eliminate that tax.
Explore a purchase CEMA02
The CEMA structure
Understand what is assigned and what remains new.
What does CEMA stand for, and what is a CEMA mortgage?
CEMA means Consolidation, Extension and Modification Agreement.
The transaction assigns and consolidates an existing mortgage with new mortgage debt instead of simply discharging the old lien. Lender, servicer and title participation must be confirmed.
Read the purchase CEMA guideWhat is the gap in a CEMA?
The gap is the new loan less the mortgage balance being assigned.
For a $1,000,000 new loan and a $600,000 assignment, the modeled gap is $400,000. Confirm the actual assigned amount and applicable tax treatment.
Return to the calculatorAre CEMAs available on refinances as well as purchases?
Both transaction types can be considered when the assignment and new lender requirements can be met.
Use the purchase or refinance control to change the model. A purchase also requires coordination around the seller’s existing mortgage.
Explore conventional financingDoes a CEMA work on a co-op?
The co-op scenario has no real-property mortgage recording tax to reduce in this model.
Co-op financing concerns shares and a proprietary lease. Do not apply the house or condo recording-tax result to that structure.
Return to the calculator03
Cost and next steps
Confirm the estimate before relying on it.
What fees come with a CEMA?
Additional costs can include servicer assignment, title, document preparation and legal charges.
The default $2,000–$4,000 range is an editable example. Replace it with transaction-specific quotes; the model subtracts the range to show net savings.
Return to the calculatorWhy is my lender’s or title company’s number different?
They may be using different balances, rates, adjustments or actual fee quotes.
Compare each assumption rather than only the final number. Optional seller exclusions also need an independent eligibility review.
Understand how to compare loan pricingCan I roll the mortgage recording tax into my loan?
That depends on the loan structure, available equity and applicable lender requirements.
Financing a cost increases debt and can affect the tax calculation. Enter the intended total new loan, then confirm the structure with the team and title company.
Return to the calculatorIs this calculator a quote or a guarantee of savings?
No. It illustrates the inputs and model assumptions.
Actual savings require a workable assignment, accepted documents, confirmed taxes and fees. Bring the estimate to your attorney, title company and lending team.
Ask about your CEMA scenario05 / From estimate to conversation
Bring the questions behind the numbers.
Use these topics to prepare a focused review of your situation.
Taxable gap
What we review: New loan and assignable balance.
Why it matters: The gap is the starting point for the tax comparison.
What to prepare
Mortgage statement, proposed loan amount and available payoff information.
Assignment
What we review: Servicer participation, documents and timing.
Why it matters: An attractive estimate does not make an assignment available.
What to prepare
Servicer details and your expected closing date.
Taxes and property
What we review: County, property type and any seller exclusions.
Why it matters: Separate tax rules can affect different parties.
What to prepare
Property address and title or attorney guidance.
Net cost
What we review: Assignment, title and legal charges.
Why it matters: Fees can consume the tax saving.
What to prepare
Itemized quotes and the proposed allocation of fees.
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