Home Equity in New York: How Much Can You Cash Out? (2026)
With New York's median value near $470,000 and a typical $259,000 balance, homeowners can access about $140,500 at 85% combined LTV — through a HELOC, a fixed home equity loan, or a cash-out refinance.
In New York, the cheapest way to tap equity is usually a second lien (HELOC/home equity loan) if your current mortgage rate is low; a cash-out refinance replaces the whole loan at 80% LTV.
Accessible equity by New York county
| County | Est. Value | Equity at 85% CLTV |
|---|---|---|
| Kings County | $900,000 | $270,000 |
| Queens County | $725,000 | $217,250 |
| New York County | $1,100,000 | $330,000 |
| Suffolk County | $640,000 | $192,000 |
| Nassau County | $720,000 | $216,000 |
| Bronx County | $560,000 | $168,000 |
| Westchester County | $720,000 | $216,000 |
| Erie County | $470,000 | $140,500 |
| Monroe County | $470,000 | $140,500 |
| Richmond County | $470,000 | $140,500 |
| Onondaga County | $470,000 | $140,500 |
| Orange County | $470,000 | $140,500 |
| Rockland County | $470,000 | $140,500 |
| Albany County | $470,000 | $140,500 |
| Dutchess County | $470,000 | $140,500 |
| Saratoga County | $470,000 | $140,500 |
| Oneida County | $470,000 | $140,500 |
| Niagara County | $470,000 | $140,500 |
| Broome County | $470,000 | $140,500 |
| Ontario County | $470,000 | $140,500 |
| Rensselaer County | $470,000 | $140,500 |
| Schenectady County | $470,000 | $140,500 |
| Chautauqua County | $470,000 | $140,500 |
| Oswego County | $470,000 | $140,500 |
| Jefferson County | $470,000 | $140,500 |
| Ulster County | $470,000 | $140,500 |
| Putnam County | $470,000 | $140,500 |
| St. Lawrence County | $470,000 | $140,500 |
| Tompkins County | $470,000 | $140,500 |
| Steuben County | $470,000 | $140,500 |
How to tap equity in New York
Start with your numbers: home value minus what you owe, capped at 85% of value. Then pick the tool — a revolving HELOC for flexible access, a fixed home equity loan for a lump sum, or a cash-out refinance if a new first-mortgage rate beats your current one. Compare two or three lenders, since margins and fees vary.
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Frequently Asked Questions
- How much home equity can I tap in New York?
- On a $470,000 home with a $259,000 balance, about $140,500 at 85% CLTV. Your exact limit depends on the lender, your credit, and the appraisal.
- Is a HELOC or cash-out better in New York?
- If your first mortgage rate is low, a HELOC or home equity loan is usually cheaper because it keeps that rate. A cash-out refinance only wins when today's rate beats your current one.