US mortgage calculator (all states)
New York State has a median home price of $576,000 in 2026, up 2% year-over-year. New York City averages $750,000 with single-family homes exceeding $900,000. New York has the highest effective property tax rate of any major state at 1.86%, with NYC adding additional local taxes. NYC buyers also face a mortgage recording tax of 1.8%–1.925% of the loan amount and transfer taxes of 1%–1.825% of the purchase price — significant closing costs. First-time buyers can access SONYMA (State of New York Mortgage Agency) loans with 3% down and up to $15,000 in grants.
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State: New York (median-style home price, tax, and insurance pre-filled — edit as needed)
NYC recording and transfer taxes are closing costs, not monthly PITI. Upstate taxes and insurance differ widely — adjust annual tax and insurance to match your county. Not a loan offer.
Dollar amount. PMI applies when under 20% of home price.
PMI is estimated at 0.5% of the loan amount per year when your down payment is below 20% of the purchase price.
Total monthly payment
$3,889
Amortization summary: fixed rate; effective rate equals your quoted rate. Taxes, insurance, PMI, and HOA are shown separately from P&I.
| Location | Median price | YoY change |
|---|---|---|
| New York State | $576,000 | +2% |
| New York City | ~$750,000 | -1% |
| Manhattan | $1,100,000+ | -2% |
| Brooklyn | ~$850,000 | Flat |
| Upstate NY (Buffalo) | ~$220,000 | +3% |
| Cost | Rate/amount | Notes |
|---|---|---|
| Property tax rate | 1.86% effective | Highest of major states |
| Annual tax ($576k home) | ~$7,500–$10,700 | ~$625–$892/month |
| NYC mortgage recording tax | 1.8%–1.925% | On loan amount |
| NYC transfer tax | 1%–1.825% | On purchase price |
| Conforming loan limit | Up to $1,149,825 | NYC high-cost area |
SONYMA (State of New York Mortgage Agency) offers 30-year fixed-rate mortgages at below-market rates for first-time buyers, with minimum down payments of 3% and closing cost assistance of up to $15,000. The Achieving the Dream program targets low-income buyers with the lowest interest rates. NYC's HomeFirst Down Payment Assistance Program provides up to $100,000 for qualifying buyers in all five boroughs. Despite high closing costs from transfer and mortgage recording taxes, these programs significantly help first-time NYC buyers.
The median home price in New York State is approximately $576,000 in 2026, up 2% year-over-year. New York City averages $750,000, Manhattan exceeds $1,100,000, while upstate cities like Buffalo average around $220,000 — offering dramatically better affordability.
NYC buyers pay a mortgage recording tax of 1.8%–1.925% of the loan amount, plus a transfer tax of 1%–1.825% of the purchase price. On a $750,000 NYC purchase with 20% down ($150,000), the mortgage recording tax on a $600,000 loan is approximately $11,550, and the transfer tax is approximately $7,500–$13,688 — significant additional closing costs.
SONYMA (State of New York Mortgage Agency) provides below-market interest rate mortgages for first-time buyers with down payments as low as 3%. The Achieving the Dream program offers the lowest rates for low-income buyers. Closing cost assistance of up to $15,000 is available. Income and purchase price limits apply by region.
To buy an NYC median home of $750,000 with 20% down ($150,000), you need a mortgage of $600,000. At 6.5% over 30 years, monthly P&I is approximately $3,793. Adding property tax ($750/month) and insurance ($200/month), total payment is about $4,743, requiring qualifying income of approximately $170,000–$190,000 annually.
Educational estimates only. Not a mortgage offer or tax advice.