Erie County, New York Mortgage Calculator - Monthly Payment with Taxes, PMI & Insurance
Erie County uses a local property-tax planning benchmark of about 2.54% on this page. On a $400,000 Erie County example with 20% down at 6.5% for 30 years, principal and interest are about $2,023; tax escrow is about $847/mo, for estimated PITI near $2,970 before PMI. Confirm overlapping city, school, and special-district layers on the parcel before treating escrow as final.
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 · $677 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. National pages include worked PITI, term, and PMI comparison examples for planning.
Limitations
Planning estimate only. Actual approval, escrow, PMI, fees, taxes, insurance, and closing disclosures depend on lender, property, borrower profile, and local rules.
Erie County, New York Mortgage Calculator - Monthly Payment with Taxes, PMI & Insurance
New York
Erie County uses a local property-tax planning benchmark of about 2.54% on this page. On a $400,000 Erie County example with 20% down at 6.5% for 30 years, principal and interest are about $2,023; tax escrow is about $847/mo, for estimated PITI near $2,970 before PMI. Confirm overlapping city, school, and special-district layers on the parcel before treating escrow as final.
Use this mortgage calculator for Erie County, 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: county
- Configured property tax rate: 2.54%
- Configured benefits or exemptions: 4
- Reviewed sources: 4
What Changes in Erie County, New York
- Data level used: county. This page uses the most specific available data layer for Erie County, New York.
- Configured combined annual property tax rate: 2.54% 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 - 2.540%
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 Erie County, New York
Local home-purchase mortgage market context for Erie County, New York: in 2025 Home Mortgage Disclosure Act (HMDA) data, Erie County logged 10,408 final-action applications. The mortgage denial rate was 8.22% and the originated share was 78.89%.
| Metric | Erie County | State |
|---|---|---|
| Final-action applications | 10,408 | 172,726 |
| Mortgage denial rate | 8.22% | 10.55% |
| Originated share | 78.89% | 69.41% |
Source: FFIEC HMDA 2025 (LAR modificado, compra de vivienda) · Texas vs California mortgage denial rates (methodology)
Nearby location comparison
Planning comparison on a $400,000 home with 20% down, 6.5% fixed for 30 years, and $100/mo insurance. Monthly tax uses each page's configured property tax rate.
| Location | Est. property tax rate | Est. monthly tax | Est. monthly PITI |
|---|---|---|---|
| Erie County (this page) | 2.54% | $847 | $2,969 |
| Albany County | 2.74% | $913 | $3,036 |
| Bronx County | 1.19% | $397 | $2,519 |
| Kings County | 1.19% | $397 | $2,519 |
| Monroe County | 3.82% | $1,273 | $3,396 |
| Nassau County | 3.69% | $1,230 | $3,353 |
Local Data and Sources
Last editorial verification: May 3, 2026. This page combines the official data layers configured for Erie County, 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. Use this state mortgage calculator to combine that assumption with principal, interest, insurance, and PMI, then drill into county or city pages when you have a specific address.
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.
What is a sample New York PITI on $400,000?
With 20% down at 6.5% for 30 years, principal and interest are about $2,023. At ~1.24% statewide property-tax planning rate, monthly escrow is about $412; with $100 insurance, estimated PITI is about $2,535 without PMI. Drill into county or city calculators for address-level millage.
What property tax benchmark does Erie County use?
Erie County uses NY Tax's latest official overall full-value county benchmark of $25.40 per $1,000 of full value. Actual parcel bills vary by municipality and school district. Use this county mortgage calculator to combine that local assumption with principal, interest, insurance, and PMI so your monthly PITI estimate is closer to a full housing payment before you talk to a lender.
What property tax rate does the Erie County mortgage calculator use?
Erie County uses a local planning benchmark of about 2.54% on this page. On a $400,000 home that is roughly $10,160 per year or $847 per month in escrow before exemptions or special districts. Parcel bills can still differ—verify the levy code on the address you are buying.
What is a sample Erie County PITI on $400,000?
With 20% down at 6.5% for 30 years, principal and interest are about $2,023. At ~2.54% property tax, monthly escrow is about $847; with $100 insurance, estimated PITI is about $2,970 without PMI. Enter your real price and down payment above to resize the estimate, including PMI if you put less than 20% down.
What closing or tax quirks should Erie County buyers watch?
Erie County escrow planning uses about 2.54% on this page, but New York buyers also face mortgage recording taxes and highly local school-district bills. Separate cash-to-close recording costs from monthly PITI when comparing counties. Use this county mortgage calculator to combine that local assumption with principal, interest, insurance, and PMI so your monthly PITI estimate is closer to a full housing payment before you talk to a lender.