Schedule with Milton

Licensed Real Estate Associate Broker

What can I help you with?

Your Name *

Email Address *

Phone Number *

Preferred Date (optional)

Preferred Time (optional)

Additional Notes (optional)

What brings you here?*

Timeline

Budget / Price Range

By submitting, you agree to receive communications from Milton Coste. Your information is secure and will never be shared.

Loan Details

Purchase Price

Property Type

Down Payment

Interest Rate

6.50%

Loan Term

Monthly Maintenance

Includes property tax share for co-ops. Enter 0 if not applicable.

Homeowner's Insurance (annual)

Monthly Breakdown

Condo

Est. Total Monthly $0

Rate Sensitivity

Ready to run the real numbers?

These are estimates. Milton can connect you with vetted NYC mortgage brokers and walk through the full cost picture before you make an offer.

Schedule a Free Consultation Calculate Closing Costs See Rent vs Buy Breakeven

What Can You Afford?

Enter your gross income and monthly debts. The calculator applies the 28/36 qualifying rule used by most NYC lenders.

Gross Annual Income

Monthly Debts (car, student loans, etc.)

Down Payment Available

Interest Rate

6.50%

Loan Term

Monthly Maintenance / Common Charges

Co-op boards count maintenance in your DTI. Typical NYC range: $600 - $3,000/mo.

Your Buying Power

Max Purchase Price (28% housing ratio)

Conservative (36% back-end DTI)

NYC Co-op DTI Reality

Most co-op boards require housing costs to be no more than 25-28% of gross income, and total debt under 35%. Some buildings use stricter thresholds. These numbers are a starting point; your pre-approval letter is what counts.

Search within your budget

Milton can filter active listings to your exact price range and pre-approval amount.

Browse Active Listings

Total Cash at Closing

Down payment is only part of what you need. This tool adds estimated buyer closing costs and NYC-specific post-closing requirements.

Purchase Price

Property Type

Financing

Down Payment

Monthly Maintenance / Common Charges

Used to estimate co-op post-closing liquidity reserve and working capital contribution.

Cash Required

Co-op

Total Cash Needed $0

What counts as liquid for co-op boards?

Checking, savings, money market, brokerage accounts at market value, and 401k/IRA at 60-70% of balance. Real estate equity does not count. Confirm with your attorney.

Want the full closing cost breakdown?

The closing cost calculator gives you itemized estimates for every fee.

Open Closing Cost Calculator Talk to Milton

NYC Mortgage Math Reference

PMI: When It Applies

Private Mortgage Insurance (PMI) is required on conventional loans when down payment is under 20%. Typical cost: 0.5% to 1.5% of the loan amount per year, added monthly. PMI ends when equity reaches 20% of the original purchase price. For co-op share loans, PMI rules differ by lender; confirm with your loan officer.

Co-op vs. Condo Monthly Costs

A co-op's monthly maintenance typically includes property taxes, building insurance, and your share of the building's underlying mortgage. A condo's common charges cover building operations only; NYC bills you property taxes separately. Comparing by purchase price alone is misleading. Always compare total monthly carrying costs.

Mortgage Recording Tax (NYC)

NYC buyers pay MRT on the loan amount (not the purchase price). Rate: 1.8% on loans under $500,000 and 1.925% on loans of $500,000 or more. Co-op buyers do not pay MRT because co-ops are personal property, not real property. Source: NYC Dept of Finance.

The 28/36 Qualifying Rule

Most lenders apply two ratios: housing costs should not exceed 28% of gross monthly income (front-end DTI), and total monthly debt payments should not exceed 36-43% (back-end DTI). Qualified Mortgage rules cap back-end DTI at 43% for most loans. Co-op boards often use stricter thresholds.

A Note from Milton

These calculators are educational tools. In 25+ years of NYC transactions, I've seen buyers get pre-approved for a certain price, only to find their actual monthly carry is significantly higher once maintenance, taxes, and co-op board liquidity requirements are factored in. Run all three calculators before you settle on a target price, and always compare total monthly cost across property types, not just purchase price.

Milton Coste, Licensed Real Estate Associate Broker, Keller Williams NYC. License #10401274378.

Estimates only. Not financial, legal, or tax advice. Actual costs vary based on lender, attorney, building, and individual circumstances. Consult your lender, attorney, and CPA before making any financial decisions. NYC mansion tax rates and mortgage recording tax rates per NYC Department of Finance. PMI rates are typical market estimates only. Milton Coste is a Licensed Real Estate Associate Broker, not a mortgage broker or financial advisor.