Home Affordability Calculator NYC
🏠 NYC Home Affordability Calculator
Find out exactly how much home you can afford in New York City — based on your real income, debts, and the current NYC market.
Your Income & Finances
Combined income for all borrowers before taxes
Car loans, student loans, credit cards (minimum payments)
Cash available for down payment (not including closing costs)
Loan & Market Settings
Current 30-yr fixed avg ~6.75% (March 2026)
Maximum Home Price You Can Afford
$0
Monthly Payment
$0
Down Payment
0%
DTI Ratio
0%
Loan Amount
$0
📍 Staten Island Market Context (2026)
How NYC Lenders Calculate Affordability
The 28/36 Rule
- Front-End Ratio (28%): Your total housing cost (mortgage + taxes + insurance) should not exceed 28% of gross monthly income
- Back-End Ratio (36–45%): Your total monthly debt including housing should not exceed 36–45% of gross income (lenders vary)
- FHA loans allow up to 31% front-end and 43% back-end DTI
- VA loans focus primarily on residual income, not DTI ratios
NYC-Specific Costs to Budget For
- Property Taxes: Staten Island ~1.1–1.4% annually; Brooklyn 1.2–1.8%
- Homeowner’s Insurance: ~$1,200–$2,500/year in NYC
- Closing Costs: 2–5% of purchase price (use our Closing Cost Calculator)
- Mansion Tax: 1% on purchases over $1,000,000 in NYC
- Flood Insurance: Required in FEMA flood zones; $500–$3,000/year
⚠️ Disclaimer: This calculator provides estimates for educational purposes only. Actual loan approval depends on full underwriting review including credit history, employment verification, assets, and property appraisal. Consult a licensed mortgage lender for a formal pre-approval.
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Let’s find homes in your budget on Staten Island or Brooklyn. I’ll help you get pre-approved and into the right home.