Question 1

What are First New York's average closing costs?

Accepted Answer

Based on 101 homebuyer-submitted Closing Disclosures, First New York's median total closing costs are $4,897. This is about 24% below the $6,435 national peer median for comparable lenders. Actual costs vary by loan type, loan amount, property state, and individual borrower profile. This data is informational only and not financial advice.

Question 2

Does First New York charge junk fees?

Accepted Answer

None of the 101 Closing Disclosures we've analyzed for First New York included fees flagged as potentially excessive — a strong sign. That said, every loan is different. Fair Closing Check can review your specific disclosure to confirm there are no hidden charges on your loan.

Question 3

How do First New York's fees compare to other lenders?

Accepted Answer

First New York currently holds a grade of A on Fair Closing Check, placing them well below the national average — one of the most competitive lenders in our database. Their median closing costs of $4,897 are about 24% below the $6,435 national peer median. Grades are based on real homebuyer-submitted Closing Disclosures and scale from A (well below average) to F (significantly above average). This is informational only; individual loans vary by state, loan type, and borrower circumstances.

Question 4

Can I negotiate closing costs with First New York?

Accepted Answer

Yes — closing costs are almost always negotiable to some degree. Lender-controlled fees like origination, processing, and underwriting charges can often be reduced or waived, especially if you have a strong credit profile or are comparing offers from multiple lenders. Third-party fees such as title insurance and settlement services can sometimes be shopped around for better rates — you are generally entitled to choose your own providers. Fair Closing Check analyzes your specific Closing Disclosure and identifies which fees to challenge and how much room there is to negotiate. This is informational only and not legal or financial advice.

Fee Category	This Lender (avg)	National Avg	Verdict
Origination Fee	$968	$3,743	🟢 Below Avg
lender_credits	$411	$1,150	🟢 Below Avg

First New York

First New York Closing Cost Breakdown

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