RES/TITLE’s first in the nation CEMA calculator that can save you thousands in Mortgage Tax


A Consolidation, Extension and Modification Agreement (“CEMA”) may potentially save New York borrowers thousands of dollars on their refinance transactions.


According to the Federal Reserve, buyers on average spend 3% of their mortgage amount on closing costs. However, in high-tax areas of the country such as New York, this amount can range between 5% and 6% of the loan. By utilizing a CEMA, these costs can be reduced.


CEMA works by consolidating the old outstanding debt with the new debt, allowing the borrower to only pay the mortgage tax (it varies by county) on the difference between these two loans instead of the entire mortgage amount.  The result – a savings of thousands.


Res/Title makes makes CEMA analysis easy with our first in the nation one click calculator. The steps are simple:


1) Sign on to Res/ GFE Closing Calculator using your credentials 

2) Enter your transaction details

3) Check off “Is this document a CEMA?” option when using the GFE Closing Calculator

4) Click “CEMA ANALYSIS” to see your results!

5) You will receive your results in a printable PDF 



Contact Stephanie Mangels for more information:
(646) 948-6800


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