Mortgage on a $600K house in New York
$4,241 a month with 20% down — $3,229 principal and interest plus $712 property tax and $300 insurance.
New York's typical property tax is 1.42% of the home's value a year (U.S. average 0.9%), which adds $712 a month on a $600K home. The typical home in New York is worth $524,942, so $600K is 14% above the typical price.
$600K 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 | $120,000 | $480,000 | $3,229 | $0 | $1,012 | $4,241 | $181,800 |
| 10% down | $60,000 | $540,000 | $3,633 | $225 | $1,012 | $4,870 | $208,700 |
| 5% down | $30,000 | $570,000 | $3,834 | $238 | $1,012 | $5,084 | $217,900 |
| 3.5% down (FHA) | $21,000 | $589,133 | $3,963 | $265 | $1,012 | $5,241 | $224,600 |
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 $600K buy a typical home?
In these counties the typical home value is within 15% of $600K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Putnam County | $575,184 | 2.12% | $4,590 |
54 of 62 New York counties tracked by Zillow have a typical home value at or below $600K. See all New York home prices.
Other prices in New York
Frequently asked questions
What is the mortgage on a $600K house in New York?
About $4,241 a month with 20% down at 7.11%: $3,229 principal and interest, $712 property tax and $300 insurance.
How much do I need to make to buy a $600K house in New York?
About $181,800 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $600K house in New York?
At New York's typical effective rate of 1.42%, about $8,544 a year. Rates vary by county and city — see the county pages.