New York mortgage calculator

Use our free mortgage calculator to estimate your monthly mortgage payment, your principal and interest, taxes, insurance, and PMI in New York. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.

New York housing market

New York, the Empire State, is unsurprisingly one of the most expensive states for ...homeowners, with the median homeowner spending close to 24% of their income on their home. In 2018, the median home value in the state grew by a relatively modest 5.8%, with similar levels predicted in 2019. If you're planning to buy in NYC, you won't have to worry about getting surprised by ghosts: sellers are legally required to disclose if the property is rumored to be haunted.

Your monthly payment
30 year fixed loan term
Monthly payment
Principal & interest


Property taxes

Homeowners insurance

Homeowners association (HOA) fees

Compare common loan types
Total principal: $240,000
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,007$1,451
Mortgage Rate4.125%2.243%*3.028%*
Total interest paid
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,007$1,451
Mortgage Rate4.125%2.243%*3.028%*
Total interest paid

See how your payments change over time for your 30 year fixed loan term

At year 0

30 year fixed loan term

Principal Paid
Interest Paid
Year 0
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We’ll share an interesting insight here for key milestones in your payoff schedule.

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Principal & interest


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New York mortgage and refinance rates today (APR)

ProductInterest rateAPR
30-year fixed-rate2.811%2.885%
20-year fixed-rate2.534%2.647%
15-year fixed-rate1.964%2.102%
10-year fixed-rate2.000%2.000%
7/1 ARM1.931%2.854%
5/1 ARM2.021%2.976%
30-year fixed-rate FHA2.368%3.074%
30-year fixed-rate VA2.438%2.669%

Data source: ©Zillow, Inc. 2006 – 2021. Use is subject to the Terms of Use

Today's rate

30-year fixed

Today’s mortgage rates in New York are 2.885% for a 30-year fixed, 2.102% for a 15-year fixed, and 2.976% for a 5/1 adjustable-rate mortgage (ARM).

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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.

Conventional Plus Program

State program

Best for

Down payment assistance

Closing cost assistance

What you need to know

This loan wraps a lot of features into one program. It’s the Swiss army knife of mortgage assistance: Take a 30-year loan for purchase or refinance, throw in down payment assistance, and offer it to first-time home buyers or existing homeowners. And that’s just the start. The Conventional Plus...

See full article

New York's best mortgage lenders

NerdWallet has done the work for you to pick the best financing partner for you in New York.

See full article

Average property tax in New York counties

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.

Avg. property tax rate
Avg. home value
Albany County2.06%$227,000
Allegany County3.02%$73,300
Bronx County0.83%$400,300
Broome County2.44%$114,200
Cattaraugus County2.52%$88,300
Cayuga County2.17%$120,900
Chautauqua County2.4%$87,500
Chemung County2.37%$112,900
Chenango County2.2%$95,900
Clinton County1.89%$136,900
Columbia County1.64%$224,600
Cortland County2.77%$113,900
Delaware County1.73%$138,000
Dutchess County1.98%$279,300
Erie County2.27%$153,300
Essex County1.54%$146,900
Franklin County1.79%$102,200
Fulton County2.04%$107,600
Genesee County2.48%$111,900
Greene County1.63%$176,100
Hamilton County1.07%$164,000
Herkimer County1.94%$95,800
Jefferson County1.54%$148,300
Kings County0.52%$701,800
Lewis County1.65%$121,700
Livingston County2.54%$135,300
Madison County2.26%$145,800
Monroe County2.93%$147,700
Montgomery County2.59%$99,900
Nassau County1.92%$489,900
New York County0.49%$976,100
Niagara County2.47%$124,900
Oneida County2.12%$124,000
Onondaga County2.62%$146,700
Ontario County2.13%$166,100
Orange County2.47%$269,100
Orleans County2.54%$93,600
Oswego County2.52%$103,300
Otsego County1.55%$141,900
Putnam County2.37%$359,700
Queens County0.77%$545,800
Rensselaer County2.25%$196,000
Richmond County0.89%$501,300
Rockland County2.38%$439,100
Saratoga County1.56%$258,600
Schenectady County2.63%$164,400
Schoharie County2.14%$143,300
Schuyler County2.04%$114,700
Seneca County2.18%$98,400
Steuben County2.33%$97,500
St. Lawrence County2.02%$94,300
Suffolk County2.01%$394,600
Sullivan County2.25%$177,500
Tioga County2.42%$113,000
Tompkins County2.36%$205,300
Ulster County2.1%$233,000
Warren County1.36%$194,200
Washington County1.94%$144,900
Wayne County2.55%$125,000
Westchester County1.77%$547,800
Wyoming County2.05%$108,500
Yates County1.69%$128,900

Source: American Communities Survey 2016, U.S. Census

Under "Home price," enter the price (if you're buying) or the current value (if you're refinancing). NerdWallet also has a .

Under "Down payment," enter the amount of your down payment (if you’re buying) or the amount of equity you have (if refinancing). A  is the cash you pay upfront for a home, and  is the value of the home, minus what you owe.

On desktop, under "Interest rate" (to the right), enter the rate. Under "Loan term," click the plus and minus signs to adjust the length of the mortgage in years.

On mobile devices, tap "Refine Results" to find the field to enter the rate and use the plus and minus signs to select the "Loan term."

You may enter your own figures for  and , if you don’t wish to use NerdWallet’s estimates. Edit these figures by clicking on the amount currently displayed.

The mortgage calculator lets you click "Compare common loan types" to view a comparison of different loan terms. Click "Amortization" to see how the principal balance, principal paid (equity) and total interest paid change year by year. On mobile devices, scroll down to see "Amortization."

» MORE: 

The mortgage payment calculation looks like this: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

The variables are as follows:

Determining what your monthly house payment will be is an important part of figuring out how much house you can afford. That monthly payment is likely to be the biggest part of your cost of living.

Using NerdWallet’s mortgage calculator lets you estimate your mortgage payment when you buy a home or refinance. You can change loan details in the calculator to run scenarios. The calculator can help you decide:

Mortgage lenders are required to assess your ability to repay the amount you want to borrow. A lot of factors go into that assessment, and the main one is debt-to-income ratio.

Your  is the percentage of pretax income that goes toward monthly debt payments, including the mortgage, car payments, student loans, minimum credit card payments and child support. Lenders look most favorably on debt-to-income ratios of 36% or less — or a maximum of $1,800 a month on an income of $5,000 a month before taxes.

» MORE: 

If your mortgage payment included just principal and interest, you could use a bare-bones mortgage calculator. But most mortgage payments include other charges as well. Here are the key components of the monthly mortgage payment:

Typically, when you belong to a homeowners association, the dues are billed directly, and it's not added to the monthly mortgage payment. Because HOA dues can be easy to forget, they're included in NerdWallet's mortgage calculator.

The mortgage calculator lets you test scenarios to see how you can reduce the monthly payments:

Your monthly payment can go up over time if: