New York Mortgage Guide
Complete New York mortgage guide with median home prices, property tax rates, denial rates, and down payment assistance programs for 2026.
In New York, the median home price is $502,770 and median household income is $82,095. The mortgage denial rate for home purchases is 10.55% according to 2025 HMDA data. 5 down payment assistance programs are available, including SONYMA Down Payment Assistance Loan (DPAL) (3% of purchase price (up to $15,000) or $3,000 (whichever is higher) at 0% interest; forgiven after 10 years.).
New York at a Glance
Median prices based on 2025 FHFA data. Income from 2024 Census ACS. Denial rates from 2025 HMDA data.
Mortgage Calculator for New York
Estimate your monthly payment with the interactive New York mortgage calculator. Includes property taxes, mortgage insurance, and down payment assistance programs.
Open Calculator →Mortgage Denial Rates in New York
In 2025 Home Mortgage Disclosure Act (HMDA) data for home purchases, New York logged 172,726 final-action applications. The mortgage denial rate was 10.55% and the originated share was 69.41%.
These figures show aggregated market outcomes, not an individual buyer's approval odds. Use these figures as context, not a prediction.
Down Payment Assistance Programs in New York
SONYMA Down Payment Assistance Loan (DPAL)
Homes and Community Renewal (SONYMA)
3% of purchase price (up to $15,000) or $3,000 (whichever is higher) at 0% interest; forgiven after 10 years.
DPAL Plus 2026
SONYMA
Up to $30,000 in enhanced DPA for low-income first-time buyers (max 60% AMI); covers down payment, closing costs, and MI.
Achieving the Dream Mortgage
SONYMA
Low-interest 30-year fixed mortgage with 3% down payment for first-time buyers; can be combined with DPAL.
SONYMA Reach Down Payment
SONYMA
Up to $15,000 grant for first-time homebuyers in Brooklyn, Queens, Bronx, Staten Island, or outside NYC.
SONYMA RemodelNY
SONYMA
Up to $60,000 for home improvements combined with down payment assistance for qualifying buyers.
New York County Calculators
These calculators use local tax and benefit data for each county.
Denial: 8.39% · Tax: 2.74% · 1 DPA programs
Denial: 17.08% · Tax: 1.19% · 1 DPA programs
Denial: 8.22% · Tax: 2.54% · 1 DPA programs
Denial: 11.88% · Tax: 1.19% · 1 DPA programs
Denial: 6.16% · Tax: 3.82% · 1 DPA programs
Denial: 8.17% · Tax: 3.69% · 1 DPA programs
Denial: 10.03% · Tax: 1.19% · 1 DPA programs
Denial: 8.80% · Tax: 3.40% · 1 DPA programs
Denial: 12.80% · Tax: 1.19% · 1 DPA programs
Denial: 9.04% · Tax: 1.19% · 1 DPA programs
Denial: 8.31% · Tax: 1.89% · 1 DPA programs
Denial: 8.43% · Tax: 2.72% · 1 DPA programs
New York City Calculators
These calculators include local taxes, closing costs, and assistance programs for each city.
New York Mortgage FAQ
What is the median home price in New York?
The median home price in New York is approximately $503,000 as of 2025, based on FHFA housing price index data.
Does New York have down payment assistance programs?
Yes. SONYMA offers DPAL (3% or $15,000 at 0% interest), DPAL Plus 2026 (up to $30,000 for low-income buyers), and Achieving the Dream Mortgage with 3% down.
What is the mortgage denial rate in New York?
The statewide mortgage denial rate for home purchases in New York is 10.55% based on 2025 HMDA data.
How do New York property taxes compare to other states?
New York has some of the highest property taxes in the nation, averaging around 1.72%, above the national average. NYC STAR exemptions provide relief for primary residences.