Compare New City, NY mortgage rates and fees from top lenders. 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 lowest 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.
May 23, 2022
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 $565,842
Based on current mortgage rates and a 10% down payment, you need to make $92,711 per year to buy the median priced home in New City
With this income, you could qualify for a $509,257 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 $2,147
The median household income for New City, NY (Rockland County) is $109,077
Based on this income, you can afford a home valued at approximately $665,731
The home price you can afford to buy based on household income in New City is 118% of the median home value which means housing prices are average. New City (Rockland County) ranks 55 out of 62 counties in New York and 2,912 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
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
FHA loan limits for New City, NY
VA loan limits for New City, NY