Real monthly housing cost on Long Island — principal + interest + property taxes + insurance. Unlike generic PITI tools, this one strips the seller's exemptions and uses the actual school district rate for the parcel, so you see what you'll pay, not what they pay.
What about exemptions? By default the calculator removes the previous owner's STAR, Senior, and Veteran exemptions — because those don't transfer to you. Register your own STAR after closing for ~$300–$700/yr savings (Basic) or up to $1,500/yr (Enhanced STAR if you're 65+).
| Principal & interest | — |
| Property tax (escrow) | — |
| Homeowners insurance | — |
| PMI | — |
| HOA | — |
| Loan amount | — |
| Down payment | — |
| Total interest over 30 yrs | — |
| Total cost over 30 yrs | — |
Lenders typically require tax + insurance escrow — you pay one-twelfth of your annual property tax and insurance with each monthly mortgage payment. The bank holds the money in an escrow account and pays your tax bill (Nassau: school in October + April, general in January + July; Suffolk: split semi-annually) and insurance premium when due.
On Long Island, property tax is usually the second-largest line item in your monthly housing cost (after principal + interest). On a $750k home in a typical district, you might see $1,800-$2,500/mo in tax escrow alone — often comparable to the loan-payment portion.