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New York Mortgage Calculator

Use this free New York mortgage calculator to estimate your monthly mortgage payments and annual amortization.

Loan details

%

Monthly payment

$2,100

at 6.80% · 30-year fixed

  • Principal & interest

    $1,565

  • Property taxes

    $375

  • Homeowners insurance

    $160

Loan amount

$240,000

Total interest paid

$323,263

Payoff date

—

YOU'RE KEEPING $23,795

$23,795

stays in your pocket

That's your total savings over 30 years at today's best rate on NerdWallet (6.80%) vs. the 7.21% national average — $66 less every month.

  • Today's best rate: 6.80%

  • Get your free rate with no credit impact

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No impact to your credit score

Calculated payments and savings are estimates. The calculator result does not constitute an offer for a loan and will not solicit a loan offer. Savings will depend on the actual amounts and rate for which you are approved, should you choose to apply.

Getting a Mortgage in New York

Written by 
,  Edited by 
 and 
Last updated November 19, 2025
Real estate markets can vary dramatically by location, which is why national housing averages don’t always reflect what buyers actually pay. Housing costs are just one part of affordability, and tools like a cost of living calculator can help show how factors such as taxes, utilities, and everyday expenses differ from place to place.
Mortgage costs in New York, the Empire State, vary depending on where you buy. In New York County, home to Manhattan and some of the state’s most expensive housing markets, the typical monthly mortgage payment for a median‑priced home was $6,907 in Q1 2025, based on a median home value of $1,178,427, according to the National Association of Realtors. By comparison, the national median monthly payment was $2,120 for a median‑priced single‑family home valued at $402,300.
By contrast, Erie County, home to Buffalo, is more affordable. There, the typical monthly mortgage payment was $1,627 for a median‑priced home valued at $277,666, reflecting lower demand and more moderate home prices outside New York’s most expensive urban core.

New York mortgage and refinance rates today (APR)

ProductInterest rateAPR
30-year fixed-rate7.319%7.326%
20-year fixed-rate7.187%7.195%
15-year fixed-rate6.560%6.565%
10-year fixed-rate5.375%5.375%
7-year ARM6.625%6.637%
5-year ARM7.250%7.028%
30-year fixed-rate VA6.536%6.880%
Data source: ©Zillow, Inc. 2006 – 2026. Use is subject to the Terms of Use

Today's rate

7.326%

30-year fixed

Today's mortgage rates in New York are 7.326% for a 30-year fixed, 6.565% for a 15-year fixed, and 7.028% for a 5-year adjustable-rate mortgage (ARM).

New York's first-time home buyer programs

The State of New York Mortgage Agency, the SONYMA, offers several loan programs to help qualified first-time home buyers get a mortgage.
» MORE: First-time home buyer programs by state

Average property tax by county

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in New York. Because assessed values aren't frequently updated, you may pay a higher rate at first but eventually you'll pay a similar rate.

CountyAvg. property tax rateMedian home value
Albany County1.82%$273,400
Allegany County2.51%$93,200
Bronx County0.80%$489,800
Broome County2.36%$146,100
Cattaraugus County2.13%$108,500
Cayuga County1.98%$165,500
Chautauqua County2.15%$122,500
Chemung County2.12%$130,700
Chenango County2.11%$121,100
Clinton County1.91%$184,800
Columbia County1.37%$283,700
Cortland County2.39%$148,200
Delaware County1.56%$160,400
Dutchess County1.87%$374,800
Erie County1.90%$225,600
Essex County1.46%$189,500
Franklin County1.56%$131,600
Fulton County1.78%$142,000
Genesee County2.10%$148,600
Greene County1.59%$229,500
Hamilton County0.98%$204,900
Herkimer County1.86%$130,900
Jefferson County1.46%$177,700
Kings County0.53%$849,900
Lewis County1.53%$146,100
Livingston County2.19%$159,900
Madison County2.15%$163,900
Monroe County2.63%$200,100
Montgomery County2.24%$132,300
Nassau County1.81%$654,600
New York County0.63%$1,006,100
Niagara County1.99%$193,800
Oneida County1.94%$167,900
Onondaga County2.49%$182,300
Ontario County2.00%$211,000
Orange County2.29%$371,600
Orleans County2.19%$122,200
Oswego County2.22%$139,800
Otsego County1.62%$166,500
Putnam County2.22%$436,500
Queens County0.75%$683,600
Rensselaer County2.16%$248,200
Richmond County0.89%$632,900
Rockland County2.18%$552,500
Saratoga County1.38%$340,900
Schenectady County2.40%$223,600
Schoharie County2.02%$169,400
Schuyler County1.90%$151,100
Seneca County1.97%$132,000
St. Lawrence County1.96%$122,000
Steuben County2.24%$124,100
Suffolk County1.77%$545,700
Sullivan County2.00%$274,800
Tioga County2.17%$144,200
Tompkins County2.21%$283,000
Ulster County1.89%$337,100
Warren County1.23%$258,300
Washington County1.80%$176,900
Wayne County2.35%$164,700
Westchester County1.83%$634,800
Wyoming County2.00%$143,000
Yates County1.53%$159,800
Source: American Communities Survey 2022, U.S. Census

How to use the mortgage calculator

To use our mortgage calculator, add your details to the following fields:
  1. Home price
  2. Down payment
  3. Interest rate
  4. Loan term (years)
After you enter this information, the calculator displays the monthly payment, as well as:
  • Total principal
  • Total interest payments
  • Payoff date

🤓 Kate on Rates, 10/15/26

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Calculating costs in addition to principal and interest

The calculator lets you fine-tune your payment by entering your annual property tax premium, annual home insurance premium, monthly homeowner association (HOA) fee, and monthly private mortgage insurance (PMI) premium.
To enter this information, click “Show Advanced Info” underneath the main loan details. Note that you'll enter the annual cost for property taxes and home insurance and the monthly cost for HOA fees and PMI premiums. The PMI field will only display if your down payment is less than 20%.
In the “Loan Estimate” window, select "Amortization Schedule" to uncover a table that shows how much you'll pay in principal and interest each month, as well as the remaining amount you owe ("Principal balance") after making the payment.
» MORE: What is mortgage amortization?

Explanation of terminology

  • Total monthly payment: An estimate of all your monthly housing costs, covering your loan principal, interest, taxes, insurance, and PMI.
  • Total principal: This is the amount you borrow. Each mortgage payment reduces the principal you owe.
  • Total interest payments: How much interest you would pay over the life of the loan.
  • Total loan payments: The entire amount of principal and interest paid, excluding taxes, insurance, and PMI.
  • Down payment: The portion of the home’s price you pay in cash upfront. 
  • Interest rate: How much the lender charges you to lend you the money. Interest rates are expressed as an annual percentage. A lower interest rate gives you a smaller monthly payment.
  • Loan term (years): The number of years you have to repay the mortgage. A longer term gives you a lower monthly payment, but you’ll pay more interest.
  • Start date: The month that your first mortgage payment is due.
  • Payoff date: The month your home will be fully paid off based on the loan term.
  • Property taxes: The annual tax assessed by a government authority on your home and land. You pay about one-twelfth of your annual property tax bill with each mortgage payment, and the servicer saves them in an escrow account. When the taxes are due, the loan servicer pays them.
  • Homeowners insurance: Your policy covers damage and financial losses from fire, storms, theft, a tree falling on your house and other bad things. As with property taxes, you pay roughly one-twelfth of your annual homeowners insurance premium each month, and the servicer pays the bill when it's due.
  • Monthly HOA fees: The amount you may pay each month if you belong to a homeowners association. Typically, these dues are billed directly, not added to the monthly mortgage payment. Because HOA dues can be easy to forget when considering the cost of homeownership, NerdWallet's mortgage calculator allows you to enter them here.
  • Private mortgage insurance: If you get a conventional mortgage and put down less than 20%, you’ll have to pay a monthly PMI premium. It covers the lender if you default on the loan and can be canceled once you reach 20% equity. FHA loans require a similar fee called a mortgage insurance premium. 
If you're looking to see how much you could save by refinancing your mortgage, try NerdWallet's refinance calculator.
» MORE FOR CANADIAN READERS: Canada mortgage payment calculator
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