Buyer Guide

Buyer Closing Costs in Erie & Niagara County

Plan on roughly 3% to 5% of the price on top of your down payment. Your lender's Loan Estimate gives your exact numbers, but these are the WNY-specific pieces.

CostWho paysHow it’s figured
Mortgage recording taxBuyer (lender pays 0.25%)1–2 family homes: 0.50% on the first $10,000 of the loan and 0.75% on the rest, in both Erie and Niagara County. Erie Clerk · Niagara Clerk
Deed and mortgage recording feesBuyerErie: $45 plus $5 per page per document. The RP-5217 transfer report filing fee is $125 for residential property. Erie Clerk
Owner’s and lender’s title insuranceBuyerRates are regulated in NY and based on price and loan amount. The lender’s policy is required with a mortgage.
Buyer’s attorneyBuyerFlat fee. Get a quote up front.
Lender fees, appraisal, credit reportBuyerSee your Loan Estimate
Homeowner’s insuranceBuyerFirst year paid before closing
Escrow deposits and tax adjustmentsBuyerReimburse the seller for any prepaid taxes, and fund your escrow account
InspectionsBuyerPaid at the time of inspection

Example: on a $250,000 home with a $237,500 loan, the mortgage recording tax is about $1,756 ($50 + 0.75% × $227,500).

What the seller pays here (not you): NYS and Erie County transfer tax, the abstract update and the survey.