State planning guide · New York
How much cash does the same home purchase need in New York?
A location specific cash to close example for New York, compared with the national midpoint while the home price, down payment, savings, and closing date assumptions stay equal.
Direct answer
Cash to close in New York
For the same $400,000 purchase with 20% down, the New York example needs $94,810 for closing, moving, and setup. That is $6,660 more than the national midpoint, and it keeps the example reserve intact.
New York changes the cash required before move in
The down payment stays at $80,000. State planning references change estimated closing costs, prepaid property tax, and the annual homeowners premium due before closing.
- Total cash needed
- $94,810
- National comparison: $88,150
- Cash to close plus the entered moving and setup budget.
- Wire amount
- $91,810
- National comparison: $85,150
- Gross closing amount after the example earnest money and seller credits.
- Estimated closing costs
- $12,400
- National comparison: $6,400
- The state planning percentage applied to the same purchase price.
- Savings after the move
- $25,190
- National comparison: $31,850
- The example $120,000 savings balance after closing and $3,000 of moving costs.
The location inputs behind the result
These are planning references, not quotes. The full calculator lets you replace every estimate with the local and transaction figures available to you.
- Effective property tax reference
- 1.73%
- National comparison: 0.92%
- Applied to the example home value. An actual assessment and local levy can differ.
- Annual homeowners insurance estimate
- $1,825
- National comparison: $1,975
- A planning estimate scaled from the StepShown national baseline, not an insurer quote.
- Buyer closing cost reference
- 3.1%
- National comparison: 1.6%
- A state planning reference before lender, title, property, and transaction specifics.
What stays equal
- $400,000 home price
- 20% down payment
- $120,000 available savings
- $18,000 reserve protected
- 15 days of prepaid interest
- $5,000 earnest money already paid
- $3,000 moving and setup budget
What this cannot tell you
- A Loan Estimate and Closing Disclosure replace every planning percentage shown here.
- Local transfer charges, title choices, lender fees, property details, escrow timing, and negotiated credits can change the wire.
- The state references are planning inputs, not a quote or a guarantee that a transaction will close.
Sources and review record
The state references used on this page were checked July 29, 2026. The calculation method and location comparisons use the following records. None of these sources is represented as validating a personal quote or every cost in the example.
- Closing Disclosure explainer
Consumer Financial Protection Bureau. Cash to close line items including prepaids, initial escrow, credits, and settlement costs.
- Loan Estimate explainer
Consumer Financial Protection Bureau. Comparing mortgage offers, fees, monthly payments, and closing costs on standardized disclosures.
Owner: StepShown engineering. Independent home finance review is still pending, so this page remains held from search indexing.