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New City

Current Mortgage Rates in New City, New York

Compare mortgage rates and fees for leading lenders in New City, NY. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in New City.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in New City. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in New City, NY as of September 22, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's New City, NY Mortgage Rates Compare?

September 22, 2020

The current average rate for a 30 year fixed rate mortgage in New City is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
New City, NY Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in New City, New York?

Below we provide helpful information on the real estate market, home prices and housing affordability in New City. Understand how much you need to earn to afford a home in New City, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in New City fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in New City is right for you.

The median home value for New City, NY (Rockland County) is $497,952

Based on current mortgage rates and a 10% down payment, you need to make $89,618 per year to buy the median priced home in New City

With this income, you could qualify for a $448,157 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in New City is $2,075

The median household income for New City, NY (Rockland County) is $93,411

Based on this income, you can afford a home valued at approximately $519,023

The home price you can afford to buy based on household income in New City is 104% of the median home value which means housing prices are average. New City (Rockland County) ranks 56 out of 62 counties in New York and 2,964 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in New City, NY is average

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Loan Limits for New City, New York

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for New City (Rockland County) below.

Conforming loan limits for New City, NY

1 unit: $765,600
2 units: $980,325
3 units: $1,184,925
4 units: $1,472,550

FHA loan limits for New City, NY

1 unit: $765,600
2 units: $980,325
3 units: $1,184,925
4 units: $1,472,550

VA loan limits for New City, NY

1 unit: $765,600

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