Typical New York mortgage payment
The median home price in New York is roughly $460,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $3,638 | $2,469 |
| 5.50% | $3,759 | $2,612 |
| 6.00% | $3,882 | $2,758 |
| 6.50% | $4,007 | $2,908 |
| 7.00% | $4,135 | $3,060 |
| 7.50% | $4,264 | $3,216 |
| 8.00% | $4,396 | $3,375 |
At 6.50% over 30 years, a $460,000 home in New York costs about $2,908/month in principal & interest.
What affects your New York payment?
- Property taxes & insurance vary by county and aren't included above.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price is an approximate estimate. Figures are principal & interest only and exclude taxes, insurance and fees. Not financial advice.