Mortgage on a $150K house in New York
$1,060 a month with 20% down — $807 principal and interest plus $178 property tax and $75 insurance.
New York's typical property tax is 1.42% of the home's value a year (U.S. average 0.9%), which adds $178 a month on a $150K home. The typical home in New York is worth $524,942, so $150K is 71% below the typical price.
$150K home in New York: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $30,000 | $120,000 | $807 | $0 | $253 | $1,060 | $45,400 |
| 10% down | $15,000 | $135,000 | $908 | $56 | $253 | $1,217 | $52,200 |
| 5% down | $7,500 | $142,500 | $959 | $59 | $253 | $1,271 | $54,500 |
| 3.5% down (FHA) | $5,250 | $147,283 | $991 | $66 | $253 | $1,310 | $56,100 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.42% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in New York does $150K buy a typical home?
In these counties the typical home value is within 15% of $150K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Saint Lawrence County | $149,753 | 2.33% | $1,174 |
| Allegany County | $141,748 | 2.92% | $1,247 |
| Chemung County | $166,618 | 2.45% | $1,188 |
| Chenango County | $166,867 | 2.26% | $1,165 |
| Cattaraugus County | $168,287 | 2.64% | $1,213 |
| Steuben County | $172,442 | 2.46% | $1,189 |
2 of 62 New York counties tracked by Zillow have a typical home value at or below $150K. See all New York home prices.
Other prices in New York
Frequently asked questions
What is the mortgage on a $150K house in New York?
About $1,060 a month with 20% down at 7.11%: $807 principal and interest, $178 property tax and $75 insurance.
How much do I need to make to buy a $150K house in New York?
About $45,400 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $150K house in New York?
At New York's typical effective rate of 1.42%, about $2,136 a year. Rates vary by county and city — see the county pages.