The New York mortgage calculator estimate for the median priced New York home ($423,800), with 20% down on a 30 year fixed loan at today's MonitorBankRates New York average mortgage rate of 7.102%, is a monthly mortgage payment of about $2,279 for principal and interest, or about $2,961 with New York property taxes and homeowners insurance included, verified by MonitorBankRates as of September 24, 2026.
Lenders serving New York currently advertise 30 year fixed rates from 6.50% to 6.84% across the 5 offers listed below. This New York mortgage calculator starts from those local numbers instead of national guesses: the New York median home value, the median property tax bill, the typical homeowners insurance premium and today's MonitorBankRates New York average rate are already filled in. Change anything, or click a verified lender rate in the panel below the calculator to see the payment at that offer. On the median home the full payment works out to 41.3% of the New York median household income of $85,974.
Use figures for a New York city
Loads the median home value, property tax and insurance cost for the city into the calculator. The rate stays at the MonitorBankRates New York average.
New York Monthly Payment Estimator
Prefilled with New York medians and today's MonitorBankRates New York average rate. Results update as you type.
Where your monthly payment goes
| Principal & interest | $0 |
| Property tax | $0 |
| Homeowners insurance | $0 |
| HOA dues | $0 |
| PMI | $0 |
| Total monthly payment | $0 |
Loan balance over time
Amortization schedule (yearly totals)
| Year | Principal Paid | Interest Paid | PMI Paid | Ending Balance |
|---|
Current New York Average Mortgage Rates
Today's MonitorBankRates New York averages first, then the lowest verified offer per loan type from lenders serving New York. Click any rate to run it through the calculator.
30 Year Fixed Offers in New York and the Payment on the Median Home
Principal and interest on the median priced New York home ($423,800, 20% down, $339,040 borrowed) at each lender's current 30 year fixed rate. Rates are pulled from each lender's published rate sheet and verified by MonitorBankRates.
- Hudson River Community Credit Union30-year fixed, APR 6.500% 6.500%$2,143 a month
- N C P D30-Year Fixed Rate 1st Mortgage, APR 6.512% 6.512%$2,146 a month
- Ukrainian National Federal Credit UnionINVESTMENT PROPERTY MORTGAGES(1-4 Family Residential Properties) - 5/1 ARM / 15 Yr Balloon (30 Yr Amortization), APR 6.750% 6.750%$2,199 a month
- Sunmark Credit Union30-Year Fixed Rate Mortgage, APR 6.759% 6.759%$2,201 a month
- American Airlines Federal Credit Union30-Year Fixed Home Loans, APR 6.837% 6.837%$2,219 a month
Compare all loan types, local banks and credit unions first, on the New York mortgage rates page, or see how the state average has moved on the New York mortgage rate trends page.
View Your New York Mortgage Rate
Enter your loan details to see personalized rate quotes from lenders serving New York.
What a Mortgage Costs in New York Right Now
| Median New York home, 20% down, 30 year fixed at the MonitorBankRates New York average of 7.102% | Monthly |
|---|---|
| Principal and interest | $2,279 |
| Property tax (New York median, Census) | $580 |
| Homeowners insurance (New York typical premium) | $103 |
| Estimated total payment (PITI) | $2,961 |
| Principal and interest on a 15 year loan at 6.717% | $2,994 |
| Household income needed at a 28% housing ratio | $127,000 a year |
Over 30 years the $339,040 loan costs about $481,369 in interest; the same loan on a 15 year term at 6.717% costs about $199,880 in interest but the payment rises to $2,994. The New York average of 7.102% is above the U.S. average of 6.983%, which on this loan is a difference of about $27 a month. The full payment is 41.3% of the New York median household income of $85,974; lenders generally want that figure under 28%, which is why a household earning about $127,000 is the rough qualifying level for the median home here.
Rates change daily. Every figure above is recalculated when this page loads from the current MonitorBankRates New York average, so the numbers reflect today's market.
How the Down Payment Changes a New York Mortgage Payment
On the median New York home at the MonitorBankRates New York average of 7.102%. Below 20% down, private mortgage insurance is added at 0.5% of the loan per year until the balance reaches 78% of the purchase price. Taxes and insurance use the New York medians.
| Down payment | Cash down | Loan | P&I | PMI | Est. total |
|---|---|---|---|---|---|
| 3% | $12,714 | $411,086 | $2,763 | $171 | $3,617 |
| 5% | $21,190 | $402,610 | $2,706 | $168 | $3,556 |
| 10% | $42,380 | $381,420 | $2,564 | $159 | $3,405 |
| 15% | $63,570 | $360,230 | $2,421 | $150 | $3,254 |
| 20% | $84,760 | $339,040 | $2,279 | none | $2,961 |
Monthly Payment by Home Price in New York
20% down, 30 year fixed at the MonitorBankRates New York average of 7.102%. Property tax is scaled at the New York effective rate of 1.64% of value (U.S. 0.94%); insurance is held at the New York figure of $1,234 a year.
| Home price | Loan | P&I | Property tax | Est. PITI |
|---|---|---|---|---|
| $200,000 | $160,000 | $1,075 | $273 | $1,452 |
| $325,000 | $260,000 | $1,748 | $444 | $2,295 |
| $425,000 (about the median) | $340,000 | $2,285 | $581 | $2,969 |
| $525,000 | $420,000 | $2,823 | $718 | $3,644 |
| $625,000 | $500,000 | $3,361 | $855 | $4,318 |
| $850,000 | $680,000 | $4,571 | $1,162 | $5,836 |
New York Property Taxes and Homeowners Insurance
Property taxes. The median New York homeowner with a mortgage pays about $6,954 a year in property taxes, which is roughly 1.64% of the median home value, compared with about 0.94% nationally. Taxes are set by counties, cities and school districts, so the bill on a specific home can be well above or below the state median. Your county assessor's website lists the current tax on any address; enter that figure in the calculator for an exact escrow estimate.
Homeowners insurance. A typical New York policy runs about $1,234 a year ($103 a month). Premiums depend on the home's replacement cost, roof age, distance from the coast or wildland, and claims history, so quotes for the same house can differ by hundreds of dollars. Compare carriers and average premiums by company on the New York homeowners insurance page.
Affordability. New York scores 80.6 on the MBR Housing Affordability Index, ranking 46 of 51 states where 100 is the national average and higher is more affordable. The full breakdown of home prices, incomes, taxes and insurance is on the New York housing affordability page.
How to Use the New York Mortgage Calculator
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Start from the New York defaults
The home price is the New York median, the rate is today's MonitorBankRates New York average, and the tax and insurance lines are the state medians. If we track figures for your city, pick it above to swap in local home values and costs.
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Enter your price and down payment
Type the purchase price you have in mind and your down payment in dollars or as a percentage. Under 20% down the calculator adds PMI automatically and shows when it drops off.
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Click a verified lender rate
The rate panel lists the lowest current offer per loan type from lenders serving New York. One click applies that rate and term, so you can compare a 15 year offer with a 30 year offer, or an FHA rate with a conventional one, without retyping anything.
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Review the full payment
The large figure is the estimated total monthly payment including escrow. The breakdown chart shows where each dollar goes, the balance chart shows how quickly equity builds, and the schedule lists principal, interest and PMI paid each year.
Frequently Asked Questions About New York Mortgages
What is the average mortgage rate in New York today?
The MonitorBankRates New York average for a 30 year fixed mortgage is 7.102% as of September 24, 2026, and the 15 year fixed average is 6.717%. The averages are computed every day from rates published by banks and credit unions lending in New York. Individual lenders currently advertise 30 year rates from 6.50% to 6.84%, so it pays to compare offers on the New York mortgage rates page.
How much is the mortgage payment on a median priced home in New York?
With 20% down on the median New York home value of $423,800, a 30 year fixed loan of $339,040 at 7.102% costs about $2,279 a month in principal and interest. Adding the median New York property tax bill of $6,954 a year and homeowners insurance of about $1,234 a year brings the full payment to roughly $2,961 a month.
How much income do you need to buy the median home in New York?
Lenders generally want the full housing payment under 28% of gross income. At about $2,961 a month for the median New York home with 20% down, that works out to a household income of roughly $127,000 a year, compared with the New York median household income of $85,974. A larger down payment, a lower rate or a less expensive home lowers the income needed.
How much are property taxes in New York?
The median New York homeowner with a mortgage pays about $6,954 a year in property taxes, roughly 1.64% of the median home value versus about 0.94% nationally. Rates are set locally, so check the county assessor for the tax on a specific property and enter it in the calculator.
How much is homeowners insurance in New York?
A typical New York homeowners insurance policy costs about $1,234 a year, or $103 a month, which the calculator includes in the total payment. Premiums vary with the home's replacement cost, location and claims history, so get quotes from several carriers before you close.
How much down payment do I need in New York?
Conventional loans allow as little as 3% to 5% down, FHA loans require 3.5%, and VA and USDA loans can be zero down for eligible borrowers. On the median New York home, 20% down is $84,760 and avoids PMI; 5% down is $21,190 but adds PMI of about $168 a month until the balance reaches 78% of the price.
Should I choose a 15 year or 30 year mortgage in New York?
On the median New York home with 20% down, the 30 year payment is about $2,279 a month in principal and interest versus about $2,994 on a 15 year loan at 6.717%. The 30 year loan costs about $481,369 in interest over its life compared with about $199,880 for the 15 year. Choose the 15 year if the higher payment fits comfortably; otherwise take the 30 year and pay extra principal when you can.
What is PITI?
PITI stands for principal, interest, taxes and insurance, the four parts of a typical monthly mortgage payment. Lenders usually collect the tax and insurance portions in an escrow account along with the loan payment, which is why the bill you receive is higher than the principal and interest figure alone. This calculator estimates all four for New York, plus HOA dues and PMI when they apply.
What is PMI and when does it go away?
Private mortgage insurance protects the lender if you default and is usually required on conventional loans with less than 20% down. It typically adds 0.3% to 1.5% of the loan amount per year. On most conventional loans it is canceled automatically when the balance reaches 78% of the original purchase price, and you can request cancellation at 80%.
Mortgage Calculators for Other States
Each state page starts from that state's average rate, median home value, property tax and insurance cost. The national mortgage calculator compares the payment on the median home in every state.
