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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 December 12, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's New City, NY Mortgage Rates Compare?

December 12, 2019

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%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in New City, New York?

The median home value for New City, NY (Rockland County) is $461,494

The median household income for New City, NY (Rockland County) is $91,279

Based on current mortgage rates and a 10% down payment, you need to make $85,622 per year to buy the median priced home in New City

The home price you can afford to buy based on household income in New City is 107% 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 2,963 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: $726,525
2 units: $930,300
3 units: $1,124,475
4 units: $1,397,400

FHA loan limits for New City, NY

1 unit: $726,525
2 units: $930,300
3 units: $1,124,475
4 units: $1,397,400

VA loan limits for New City, NY

1 unit: $726,525

Additional Mortgage Resources for New City, NY Residents

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Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index