Calculate Your New York Mortgage Payment
Our calculator is pre-filled with New York's median home price and property tax rate. Adjust the numbers to match your situation.
Open Calculator with NY DefaultsMonthly Payment Breakdown for New York
Here's what your monthly payment looks like on the median New York home ($576,000) with 20% down at 6.5%:
Note: This estimate assumes 20% down payment ($115,200), no PMI. With less than 20% down, add $192-$384/month for PMI.
New York Property Taxes
New York's effective property tax rate is 1.43%, which is above the national average of 0.89%.
Annual Property Tax on $576,000 Home
$8,237
($686/month escrowed)
Buying a Home in New York: Key Facts
- Property tax rate of 1.43% is significantly above the national average of 0.89%
- Wide range of home prices from affordable upstate to expensive NYC metro
- SONYMA offers specialized programs for veterans and target areas
- Property taxes vary significantly by county, with some exceeding 2%
Mortgage Calculators for Nearby States
Comparing homes across state lines? Check property taxes and home prices in neighboring states:
New York First-Time Homebuyer Programs
New York has 95 homebuyer assistance programs that can help with down payment and closing costs.
SONYMA Achieving the Dream
Low fixed-rate mortgage with up to 97% financing for low-income buyers
Low-Interest MortgageSONYMA Down Payment Assistance Loan
0% interest loan for down payment and closing costs
Deferred LoanSONYMA DPAL Plus ATD
Up to $30,000 in enhanced down payment assistance
Deferred LoanEligibility requirements typically include income limits, credit score minimums (usually 620+), and homebuyer education courses. Visit DownPaymentResource.com to search for programs you may qualify for.
Major Cities in New York
Home prices and property taxes can vary significantly by city. The median home price of $576,000 is a statewide average.
New York Mortgage FAQ
What is the property tax rate in New York?
The average effective property tax rate in New York is 1.43%. On a $576,000 home, that's approximately $8,237 per year or $686 per month added to your mortgage payment.
What is the median home price in New York?
The median home price in New York is $576,000 as of January 2026. Prices vary by location - New York City and Buffalo typically have higher prices than rural areas.
Are there first-time homebuyer programs in New York?
Yes, New York has 95 homebuyer assistance programs. Popular options include SONYMA Achieving the Dream, which offers low fixed-rate mortgage with up to 97% financing for low-income buyers.
How much do I need to buy a house in New York?
For the median New York home ($576,000), you'd need $115,200 for a 20% down payment, plus $17,280-$28,800 for closing costs. With down payment assistance, you could potentially buy with as little as $20,160 (3.5% FHA down payment).
Ready to Calculate?
Use our free mortgage calculator with New York property taxes pre-filled.
Calculate Your NY Mortgage Payment