New York Mortgage Calculator - Monthly Payment with Taxes, PMI & Insurance
New York transfer and recording taxes vary sharply by county - Nassau and Westchester carry higher MCTD mortgage recording tax totals than many upstate counties. Property taxes are local and can include county, city, town, village, school district, and special district levies. This statewide file uses NY Tax's ACS property-tax benchmark of $12.36 per $1,000 of value; county pages override with official local rates. STAR and SONYMA DPAL are modeled where eligible.
Loan Details
$70,000 · LTV 80%
Buyer Profile
Extra Payment
Optional principal-only payment used to estimate payoff speed and interest savings.
Monthly Payment
$1,770 Principal & Interest · $330 Property Taxes · $125 Other
Methodology and limitations
Last reviewed:
Methodology
Uses standard principal-and-interest mortgage math, then models housing-cost inputs such as tax, insurance, PMI, and extra-payment scenarios where available.
Limitations
Planning estimate only. Actual approval, escrow, PMI, fees, taxes, insurance, and closing disclosures depend on lender, property, borrower profile, and local rules.
New York Mortgage Calculator - Monthly Payment with Taxes, PMI & Insurance
New York transfer and recording taxes vary sharply by county - Nassau and Westchester carry higher MCTD mortgage recording tax totals than many upstate counties. Property taxes are local and can include county, city, town, village, school district, and special district levies. This statewide file uses NY Tax's ACS property-tax benchmark of $12.36 per $1,000 of value; county pages override with official local rates. STAR and SONYMA DPAL are modeled where eligible.
Use this mortgage calculator for New York to estimate the monthly payment with principal, interest, configured annual taxes, eligible exemptions, and assistance programs when the buyer profile matches the conditions.
What This Estimate Uses
- Geographic level: state
- Configured property tax rate: 1.24%
- Configured benefits or exemptions: 4
- Reviewed sources: 4
What Changes in New York
- Data level used: state. This page uses the most specific available data layer for New York.
- Configured combined annual property tax rate: 1.24% before exemptions and buyer-specific conditions are applied.
- Configured down payment assistance programs: SONYMA Down Payment Assistance Loan.
Local Tax Assumptions
These are the annual tax assumptions configured for this page. The calculator applies them to the appropriate value, then accounts for exemptions or conditions when the buyer selects them.
- New York Local Property Tax - 1.236%
Programs and Exemptions Included
These benefits do not mean automatic approval. The calculator models them when the buyer inputs match the configured eligibility conditions.
- New York Basic STAR - $30,000 (requires: primary residence, income is below the program cap)
- New York Enhanced STAR - $88,500 (requires: primary residence, buyer is age 65 or older, income is below the program cap)
- SONYMA Down Payment Assistance Loan - 3% of loan, up to $15,000 (requires: primary residence, income is below the program cap)
- Mortgage Credit Certificate (MCC) - 20% of mortgage interest (requires: first-time buyer, primary residence, buyer has a Mortgage Credit Certificate)
When This Estimate Can Change
- The actual property tax bill depends on the address, overlapping taxing jurisdictions, approved exemptions, and appraised value.
- Home insurance, flood insurance, HOA dues, and PMI can vary by property, lender, and buyer profile.
- Configured closing costs include New York Mortgage Recording Tax, but other settlement charges may appear on a real loan estimate.
2025 Local Home-Purchase Mortgage Market in New York
Local home-purchase mortgage market context for New York: in 2025 Home Mortgage Disclosure Act (HMDA) data, New York logged 172,726 final-action applications. The mortgage denial rate was 10.55% and the originated share was 69.41%.
| Metric | New York |
|---|---|
| Final-action applications | 172,726 |
| Mortgage denial rate | 10.55% |
| Originated share | 69.41% |
Source: FFIEC HMDA 2025 (LAR modificado, compra de vivienda) · Texas vs California mortgage denial rates (methodology)
Local Data and Sources
Last editorial verification: May 3, 2026. This page combines the official data layers configured for New York.
The sources used on this page are Consumer Financial Protection Bureau mortgage cost guidance, New York Tax STAR resource center, New York Tax mortgage recording tax rates, SONYMA mortgage programs. Each source lists which rate, exemption, or program it validates and when it was last reviewed.
- Consumer Financial Protection Bureau mortgage cost guidance - verified May 3, 2026 - General U.S. mortgage closing-cost and mortgage-cost guidance.
- New York Tax STAR resource center - verified May 3, 2026 - Official source for current Basic STAR and Enhanced STAR rules and limits.
- New York Tax mortgage recording tax rates - verified May 3, 2026 - Official MT-15 source for New York mortgage recording tax rates.
- SONYMA mortgage programs - verified May 3, 2026 - Official source for SONYMA mortgage and down-payment assistance program information.
Frequently Asked Questions
What is the property tax rate in New York?
New York does not set one statewide property tax rate. Local governments and school districts set rates. NY Tax's latest statewide benchmark is $12.36 per $1,000 of value, while county, city, town, village, and school rates can be much higher or lower.
How does STAR work for New York homeowners in 2026?
For the 2026-2027 school year, Basic STAR is based on the first $30,000 of full value for eligible owner-occupied primary residences. The STAR exemption income limit is $250,000, while the STAR credit income limit is $500,000. Enhanced STAR is based on the first $88,500 of full value for qualifying seniors with income of $110,750 or less.
What closing tax should New York mortgage borrowers expect?
New York imposes a mortgage recording tax when a mortgage is recorded. State, MCTD, city, and county components vary by location, so county and city files override the statewide baseline where needed.
How do I use a New York mortgage recording tax calculator?
Enter your sale price and loan amount on the New York transfer-tax page. The calculator applies state, MCTD, and county mortgage recording tax layers where configured. Nassau models 1.05% on the loan amount; Westchester models 1.30% under MT-15. Upstate counties typically use lower totals - verify on your Closing Disclosure.
Does this mortgage calculator include taxes and insurance?
Yes. This calculator estimates your full monthly housing payment by combining principal and interest with property taxes, homeowners insurance, and PMI when your down payment is below 20%. The result reflects a PITI-style payment rather than principal and interest alone, which helps you compare homes and loan scenarios more realistically before talking to a lender.