The reason is that what contractors might charge to remove the current flooring, especially in cases of tile and hardwood, can vary wildly. Installation costs can vary just as much, so we would recommend contacting 2-3 contractors and asking how much they charge per square foot for removal and installation of flooring.
Multiply the amount of your loan times the total number of points as a percentage. Using figures from the above steps, the three points bought with a $400,000 mortgage would cost $12,000: $400,000 x 0.03 = $12,000.
In addition to Mortgage Tax, there is a $5.00 certification fee that must be paid to the treasurer before a mortgage can be filed. Note: If you are filing a modification of mortgage and no additional mortgage tax is due, you do not need to pay the $5.00 certification fee.