Resources · Mortgage Calculator
What will this house actually cost you every month?
Run the payment, open the amortization schedule, test what extra payments do to the principal, and see which loan programs and down payment assistance you fit — using the 2026 loan limits and program rules that are in force today.
Your loan
Everything else
Enter these however you have them — the toggle converts.
Leave this blank and we estimate it from your credit score and loan-to-value. Enter a figure to use your lender’s actual quote instead.
Where every payment actually goes
In the early years almost all of your payment is interest. This is the schedule the lender works from, built off the loan on the Monthly Payment tab.
What extra payments do to the principal
Every extra dollar goes straight to principal and stops accruing interest for the rest of the term. Test any cadence you like.
Add extra
Or a lump sum
Change the loan itself on the Monthly Payment tab.
How much can you borrow?
Four programs, side by side, using each one’s published debt-to-income rules and the 2026 loan limits for Nassau, Suffolk, Westchester and the five boroughs.
Your numbers
Debts means car loans, student loans, credit card minimums and child support — not utilities or groceries.
Taxes and insurance — enter them however you have them.
Fill in your numbers and press Compare Programs.
Down payment and assistance programs you fit
Separate from the borrowing question above, because it turns on different things — where you are buying, how many people are in the household, and whether you have owned before. Every status here was checked against the program’s own source, not a roundup article.
About your household
Nothing you type here is sent anywhere. The whole check runs in your browser.
Tell us about your household and we will show you what is open.
Third-Party Lenders
Have a lender tell you what you actually qualify for
A calculator works from what you type. A lender works from your credit report, your verified income and automated underwriting — and only that produces a pre-approval a seller will take seriously.
Send this and we will pass it to lenders we work with who handle the programs you are asking about. They will contact you directly.
- SONYMA-participating lenders, for DPAL and DPAL Plus
- FHA, VA and conventional
- Lenders participating in the Federal Home Loan Bank of New York grant round
- Co-op and multi-family financing, which many lenders will not touch
Reference
The 2026 numbers behind this calculator
Loan limits for our countiesConforming, FHA and the national baseline, one through four units
Nassau, Suffolk, Westchester and all five boroughs sit in the same high-cost area and share one set of limits.
| Units | Conforming limit | FHA limit | National conforming baseline |
|---|---|---|---|
| 1 — single family | $1,209,750 | $1,249,125 | $832,750 |
| 2 family | $1,548,975 | $1,599,375 | $1,066,250 |
| 3 family | $1,872,225 | $1,933,200 | $1,288,800 |
| 4 family | $2,326,875 | $2,402,625 | $1,601,750 |
Minimum down payment and creditWhat each program needs, and how the mortgage insurance works
| Program | Minimum down | Credit floor | Mortgage insurance |
|---|---|---|---|
| Conventional | 3% first-time / 5% otherwise | 620 | PMI above 80% loan-to-value; ends automatically at 78% |
| FHA | 3.5% | 580 (500–579 at 10% down) | 1.75% upfront, plus annual MIP |
| VA | None | No VA minimum; lenders overlay 580–620 | None |
| SONYMA | 3% | Not published — lender decides | Depends on the underlying loan |
FHA annual MIP runs for the life of the loan whenever the original loan-to-value was above 90% — which includes every standard 3.5%-down purchase. Paying the balance down does not end it; only refinancing out of FHA does. This is the single biggest structural difference between FHA and conventional, and it is the one buyers most often miss.
Assistance program statusWhich programs are open, closed or expected to reopen
Checked 26 August 2026 against each program’s own source.
| Program | Area | Maximum | Status |
|---|---|---|---|
| SONYMA DPAL | Statewide | $15,000 | Open |
| SONYMA DPAL Plus | Statewide | $30,000 | Open |
| SONYMA Homes for Veterans | Statewide | Rate discount + DPAL | Open |
| NYC HomeFirst | Five boroughs | $100,000 | Open |
| FHLBNY Homebuyer Dream | Statewide | $30,000 | Open |
| Community Housing Innovations | Westchester, Nassau, Suffolk | $60,000 | Open |
| Nassau County | Nassau | $50,000 last round | Closed |
| Suffolk County | Suffolk | $30,000 last round | Expected to reopen |
| Town of Brookhaven | Brookhaven | $50,000 last round | Closed |
| Town of Babylon | Babylon | $50,000 last round | Closed |
| Islip CDA | Islip | Not published | Closed |
| Westchester County | Westchester | $25,000 | Status unconfirmed |
Where these figures come from
FHFA 2026 conforming loan limits · HUD 2026 FHA loan limits · HUD Mortgagee Letter 2023-05 (MIP) · VA funding fee · VA loan limits · Fannie Mae debt-to-income · SONYMA programs · SONYMA DPAL · NYC HomeFirst · FHLBNY Homebuyer Dream · Community Housing Innovations · Long Island Housing Partnership · Suffolk County down payment assistance · Westchester County
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