
A Homebuyer’s Guide To Deposit, Earnest Money, And Down Payment
When buying an apartment in NYC, a buyer needs to put down about 10% of the property price as deposit/earnest money and more as a down payment at the time of closing.

When buying an apartment in NYC, a buyer needs to put down about 10% of the property price as deposit/earnest money and more as a down payment at the time of closing.

Co-op financial requirements in NYC are stricter than the requirements for buying a condo and you might need to save much more than the usual 20% for down payment, to meet the financial requirement for a co-op board.

CEMA loans are available for people who want to refinance their mortgage (and sometimes to buyers) and allows them to save money on mortgage recording tax.