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Madison Abstract
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Madison Toolbox
670 White Plains Road
Scarsdale, NY 10583

Tel: (914) 725-7200
Fax: (914) 725-7724
info@madisonabstract.com
May 19, 2012
Enter sale price of home, percent down payment, mortgage length, and interest rate details to calculate principle, interest, and tax payments, complete with calculations and full amortization schedule.
Back to Calculators
Purchase and Financing Information
Sale Price of Home: Dollars *
Percentage Down: % *
Length of Mortgage: years *
Annual Interest Rate: % *
Explain Calculations: Show me the calculations and amortization
  * Complete All Required Fields
Madison Abstractions
Top Deals
$2.5M purchase of a Bronx apartment building

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Tip of the Month
A religious corporation cannot sell, mortgage or lease for a term exceeding five years, any of its real property without applying for and obtaining leave of the Court. A court order is also necessary for mortgages with terms less than five years. Religious entities are subject to the same Not-for-Profit laws as not-for-profit corporations so in addition to court approval, the consent of two-thirds of the directors to the sale must be obtained. Strict compliance with the order approving the transaction is required, so if there is an amendment to the terms of the mortgage, the court order must also be amended. Since not-for-profit corporations are exempt from paying a transfer tax, the purchasers of said properties may have to pay the transfer tax by default.