FHA Loan Calculator — New York
On the typical New York home ($527,000), 3.5% down leaves a $508,555 base loan. The 1.75% upfront premium ($8,900) is financed, for a $517,455 loan, and annual MIP of 0.55% adds $236 a month for the life of the loan. New York FHA limits run $541,287–$1,209,750 by county.
New York has the 11th-highest effective property tax rate of the 50 states at 1.30% — $2,055 more a year than the 0.91% state average on a $527,000 home. Homeowners insurance averages $1,683 a year, the 12th-lowest premium nationally and $1,037 less than the typical state.
Loan Parameters
Total Monthly Payment
$4,400
Principal & Interest + Taxes + Insurance
APR 7.761%
Total Interest
$725,651
Total Cost
$1,555,900
Advanced Parameters
FHA Mortgage Insurance Premium (MIP)
Annual MIP of 0.55% is billed monthly on the average balance of each loan year. With less than 10% down it lasts for the life of the loan; with 10% or more down it ends after 11 years. A 1.75% upfront premium is also added to the loan.
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
Full term
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | MIP | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $41,437 | $5,226 | $36,211 | $2,833 | $512,229 | $14,771 |
| Year 2 | $41,437 | $5,606 | $35,831 | $2,803 | $506,623 | $20,377 |
| Year 3 | $41,437 | $6,013 | $35,424 | $2,772 | $500,611 | $26,389 |
| Year 4 | $41,437 | $6,449 | $34,988 | $2,737 | $494,162 | $32,838 |
| Year 5 | $41,437 | $6,917 | $34,519 | $2,701 | $487,244 | $39,756 |
| Year 6 | $41,437 | $7,420 | $34,017 | $2,661 | $479,825 | $47,175 |
| Year 7 | $41,437 | $7,958 | $33,478 | $2,619 | $471,866 | $55,134 |
| Year 8 | $41,437 | $8,536 | $32,901 | $2,574 | $463,330 | $63,670 |
| Year 9 | $41,437 | $9,156 | $32,281 | $2,526 | $454,174 | $72,826 |
| Year 10 | $41,437 | $9,821 | $31,616 | $2,474 | $444,353 | $82,647 |
| Year 11 | $41,437 | $10,534 | $30,903 | $2,418 | $433,819 | $93,181 |
| Year 12 | $41,437 | $11,299 | $30,138 | $2,358 | $422,520 | $104,480 |
| Year 13 | $41,437 | $12,119 | $29,318 | $2,294 | $410,401 | $116,599 |
| Year 14 | $41,437 | $12,999 | $28,438 | $2,225 | $397,402 | $129,598 |
| Year 15 | $41,437 | $13,943 | $27,494 | $2,151 | $383,459 | $143,541 |
| Year 16 | $41,437 | $14,955 | $26,481 | $2,072 | $368,504 | $158,496 |
| Year 17 | $41,437 | $16,041 | $25,395 | $1,987 | $352,462 | $174,538 |
| Year 18 | $41,437 | $17,206 | $24,231 | $1,896 | $335,256 | $191,744 |
| Year 19 | $41,437 | $18,455 | $22,981 | $1,798 | $316,801 | $210,199 |
| Year 20 | $41,437 | $19,796 | $21,641 | $1,693 | $297,005 | $229,995 |
| Year 21 | $41,437 | $21,233 | $20,204 | $1,581 | $275,772 | $251,228 |
| Year 22 | $41,437 | $22,775 | $18,662 | $1,460 | $252,998 | $274,002 |
| Year 23 | $41,437 | $24,428 | $17,009 | $1,331 | $228,570 | $298,430 |
| Year 24 | $41,437 | $26,202 | $15,235 | $1,192 | $202,368 | $324,632 |
| Year 25 | $41,437 | $28,104 | $13,332 | $1,043 | $174,263 | $352,737 |
| Year 26 | $41,437 | $30,145 | $11,292 | $883 | $144,118 | $382,882 |
| Year 27 | $41,437 | $32,334 | $9,103 | $712 | $111,784 | $415,216 |
| Year 28 | $41,437 | $34,682 | $6,755 | $528 | $77,102 | $449,898 |
| Year 29 | $41,437 | $37,200 | $4,237 | $331 | $39,902 | $487,098 |
| Year 30 | $41,438 | $39,902 | $1,536 | $120 | $0 | $527,000 |
FHA Loan numbers for New York
- Typical New York home value
- $527,000
- 3.5% down ($18,445) · Zillow, August 31, 2026
- Loan amount
- $517,455
- Includes $8,900 financed UFMIP
- Estimated monthly payment
- $4,400
- APR 7.761%
- New York property tax
- 1.30%
- $571/mo
- Homeowners insurance
- $1,683/yr
- $140/mo
- Upfront MIP (1.75%)
- $8,900
- Financed into the loan
- Annual MIP
- 0.55%
- $236/mo in year 1 · life of loan
- New York FHA loan limit
- $541,287 – $1,209,750
- One-unit, by county
How much house can you afford in New York with an fha loan?
Highest price where principal, interest, New York property tax, insurance and FHA mortgage insurance (1.75% upfront premium financed, 0.55% annual MIP) stay within 28% of gross income —3.5% down, 30-year fixed at 7.03%. Other debts lower these numbers.
| Household income | Housing budget / mo | Max home price | Down payment | vs typical home |
|---|---|---|---|---|
| $40,000 | $933 | $98,000 | $3,430 | 19% |
| $50,000 | $1,167 | $126,000 | $4,410 | 24% |
| $60,000 | $1,400 | $155,000 | $5,425 | 29% |
| $75,000 | $1,750 | $199,000 | $6,965 | 38% |
| $100,000 | $2,333 | $271,000 | $9,485 | 51% |
| $125,000 | $2,917 | $343,000 | $12,005 | 65% |
| $150,000 | $3,500 | $415,000 | $14,525 | 79% |
FHA vs other loan types in New York
$527,000 home, each program's typical minimum or default down payment, current average 30-year rate.
| Loan type | Down | Loan amount | Upfront fee | Monthly MI | Total / month | APR |
|---|---|---|---|---|---|---|
| Conventional | 10% · $52,700 | $474,300 | — | $285 PMI | $4,161 | 7.488% |
| FHA | 3.5% · $18,445 | $517,455 | UFMIP $8,900 | $236 MIP | $4,400 | 7.761% |
| VA | 0% · $0 | $538,331 | Funding fee $11,331 | $0 | $4,304 | 7.242% |
| JumboLoan is conforming (≤ $832,750) | 20% · $105,400 | $421,600 | — | $0 | $3,525 | 7.030% |
New York high-cost counties (2026)
10 counties have a one-unit conforming limit above the $832,750 baseline. Loans up to these amounts are conforming, not jumbo.
- Bronx County$1,209,750
- Kings County$1,209,750
- Nassau County$1,209,750
- New York County$1,209,750
- Putnam County$1,209,750
- Queens County$1,209,750
- Richmond County$1,209,750
- Rockland County$1,209,750
- Suffolk County$1,209,750
- Westchester County$1,209,750
Frequently asked questions
What is the monthly payment on a $527,000 home with an fha loan in New York?
Estimated $4,400 per month ($3,453 principal & interest, $571 property tax, $140 insurance, $236 FHA mortgage insurance) at 7.03% for 30 years, with 3.5% down. APR 7.761%.
What is the FHA loan limit in New York for 2026?
Between $541,287 and $1,209,750 depending on the county for a one-unit home. $541,287 is the national FHA floor; counties with higher home prices get higher limits. Check your exact county on HUD's FHA mortgage limits lookup.
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Data sources & assumptions
- Freddie Mac Primary Mortgage Market Survey (PMMS) — Weekly average as of September 24, 2026
- Zillow Home Value Index (ZHVI), typical home value, all homes — Default home prices; typical value as of August 31, 2026
- FHFA 2026 Conforming Loan Limit Values (one-unit) — 2026 one-unit limits, 56 states & territories
- HUD FHA Mortgage Limits lookup — FHA floor $541,287; high-cost counties follow the conforming limit — confirm on HUD
- Effective statewide property tax rate (Tax Foundation, 2026 projections) — Statewide effective rate; county rates vary
- Average annual homeowners premium, $300K dwelling / $1K deductible (industry survey averages) — Statewide average premium
- HUD Mortgagee Letter 2023-05 (annual MIP schedule)
- HUD — FHA single family housing policy handbook 4000.1
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.