Special Mortgage Programs for Buyers - a podcast by Vince Rocco

Did you know it’s possible to buy property in New York and pay no mortgage recording tax? The mortgage recording tax ranges from 0.75% to 2.8% of the total principal of the mortgage, so it is a significant expense when buying a home or commercial property. On a home purchase with a $1MM mortgage in NYC, the mortgage recording taxes amount to more than $19,000.

There is, however, a fully accepted method to pay zero mortgage recording tax. It’s called a Purchase CEMA—a twist on the widely known CEMA. It cannot be used in every purchase, but when it can be used, the savings are substantial. Matt Lowerre from Wells Fargo Bank is here to explain.


Also at this hour: Expanding your family is a joy, but having children can be financially challenging. This is true for New Yorkers, who face high housing prices and are twice as likely to rent than the average American household.

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