New York Mortgage Guides 2026
FHA loan limits by borough and county (NYC among the highest in the nation), SONYMA down payment assistance, USDA rural loans for upstate New York, VA resources, and a full breakdown of New York’s mortgage tax and closing costs — all in one place.
New York Mortgage Guide
FHA loan limits by county, loan programs, SONYMA assistance, property taxes (highest average in the nation), NY mortgage tax, and the 2026 New York housing market overview.
Read guide →New York First-Time Home Buyer Guide
SONYMA mortgage programs, the Down Payment Assistance Loan (DPAL), Achieving the Dream low-interest mortgage, and income and purchase price limits by county.
Read guide →New York FHA Loan Requirements
FHA limits range from $524,225 in most upstate counties to $1,209,750 in New York City and Nassau/Suffolk/Westchester counties. County-by-county FHA limits explained.
Read guide →New York VA Loan Requirements
VA loan benefits for New York veterans — no down payment, no PMI, and how New York’s mortgage tax exemptions apply to VA loans.
Read guide →New York USDA Loans
USDA-eligible areas in upstate New York, the Finger Lakes, the North Country, and Western NY — income limits and property eligibility explained.
Read guide →New York Closing Costs Guide
New York’s unique mortgage tax, mansion tax on purchases over $1 million, attorney fees (required by law), title insurance, and what buyers and sellers pay at closing.
Read guide →Key New York Mortgage Facts
FHA Loan Limits
- Most upstate NY counties: $524,225
- NYC (all 5 boroughs): $1,209,750
- Nassau / Suffolk / Westchester: $1,209,750
- Rockland / Putnam: $1,209,750
- Albany / Saratoga / Schenectady: $524,225
Down Payment Assistance
- SONYMA DPAL: up to $30,000 or 3% of purchase price
- Achieving the Dream: below-market rate + DPAL
- SONYMA Conventional Plus: 97% LTV option
- NYC HomeFirst: up to $100,000 for NYC buyers (income limits apply)
- Min credit score: 620–640 for most SONYMA programs
Property Taxes
- Effective rate: approx. 1.72% statewide average
- Highest average of any state
- NYC: lower effective rate (~0.88%) due to assessment practices
- Westchester / Nassau / Rockland: among highest in nation
- STAR exemption available for primary homeowners
Closing Costs (NY-Specific)
- Mortgage Recording Tax: 1.05–2.80% of loan amount
- Mansion Tax: 1%+ on purchases over $1 million (buyer pays)
- Attorney fees: required by law in New York
- NYC Transfer Tax: 1%–1.425% of purchase price (seller)
- NY State Transfer Tax: 0.4% of purchase price (seller)
Getting Ready to Buy in New York?
We’re building out our New York loan-officer network now. In the meantime, our guides above cover SONYMA down payment assistance, county-by-county FHA limits, and New York’s mortgage recording tax and closing costs — everything you need to start planning your purchase.
- ✓ FHA limits up to $1,209,750 in NYC, Nassau, Suffolk, and Westchester counties
- ✓ SONYMA down payment assistance up to $30,000 or 3% of purchase price
- ✓ Mortgage recording tax and mansion tax details for NY closings
- ✓ No obligation — first in line to be matched with a licensed New York loan officer
Coming soon · No obligation · Educational first
New York Advisor Network — Coming Soon
We currently connect buyers with licensed advisors in Florida and Utah. New York is on our expansion list — join the waitlist and we’ll reach out as soon as we launch here.
Join the New York Waitlist