Most calculators show you principal and interest and call it a day. In New York that is barely half of what you actually pay. This one covers Queens, Brooklyn, Nassau and Suffolk — with escrow, mortgage insurance, and the recording and mansion taxes that surprise buyers at the closing table.
3% minimum down. PMI applies under 20% down and drops off at 80% loan-to-value.
Taxes billed separately. Mortgage recording tax and title insurance apply.
Not a quote. Your actual rate depends on credit, loan size, and the day you lock.
Escrow & Carrying Costs
Estimate only. Flood zones near the Bay and Sound can raise this considerably.
Leave at zero for a standard single-family house.
Closing costs are estimates based on customary New York charges and current tax rates. Attorney, title, and lender fees vary. Sellers occasionally contribute toward buyer costs — that is a negotiating point I handle for you.
This uses the same loan type, town, and rate you selected above, and solves for the highest purchase price that keeps you inside a lender's debt-to-income limit.
Before taxes. Include both borrowers if you are buying together.
Car loans, student loans, minimum credit card payments, child support. Do not include rent or utilities.
45% is a realistic default. Conventional can stretch to 50% and FHA to 57% with strong compensating factors — I will tell you honestly where you land.
If entered, your price is also capped by what your cash covers for down payment plus closing costs. Leave at zero to ignore.
A $900,000 house in Douglaston runs about $7,800 a year in taxes. Cross into Great Neck and the same house is closer to $18,500. But Nassau charges 0.80% to record your mortgage where Queens charges 1.925% — so the county that costs more every year can cost far less on closing day. Both sides are in here.
New York charges a tax just to record your mortgage. In Queens and Brooklyn it is 1.8% to 1.925% of your loan — on a $720,000 loan, roughly $13,900. In Nassau and Suffolk it is 0.80%, about $5,700. Co-ops pay none at all. Most calculators ignore it entirely.
At $1,000,000 a 1% tax appears — $10,000 all at once. Offering $1,000,000 instead of $999,000 costs you $10,001. In Queens and Brooklyn additional tiers stack on above $2 million. Nassau and Suffolk stay flat at 1% no matter how high the price goes.
I am a licensed salesperson and a senior loan originator. When the numbers here need to become an actual approval, you are not being handed off to a lender who has never seen the house.
Send me the address you are considering and I will run the real taxes, the real insurance quote, and a real pre-approval.
Important Disclosures
This calculator provides estimates for educational purposes only. It is not a loan application, a pre-approval, a rate quote, or a commitment to lend. Figures are approximations based on the information you enter and on customary New York charges and tax rates in effect for 2026. Actual payments, escrow amounts, mortgage insurance, taxes, and closing costs will differ.
Property tax figures are neighborhood estimates and are among the most variable numbers here — a specific home's assessment, exemptions (STAR, veterans, senior), and any pending grievance can move the figure substantially. Always verify against the actual tax bill for the property. Interest rates shown are user-entered defaults and do not reflect any available offer. All loans are subject to credit approval, income and asset verification, property appraisal, and program eligibility.
Paul Chung — Licensed Real Estate Salesperson, Keller Williams Gold Coast · Senior Loan Originator, United Mortgage Corp, NMLS# 1933889. Equal Housing Opportunity. Equal Housing Lender.