Mortgage Rates in New Jersey — June 2026
Compare mortgage rate benchmarks across 125 cities in New Jersey. Amortio's estimated state average for a 30-year fixed loan is 6.74%, which is 0.26% above the Freddie Mac national benchmark of 6.48% from June 4, 2026. These figures are informational estimates, not lender quotes or APR offers.
What is the current New Jersey mortgage-rate benchmark?
Amortio's New Jersey state table shows an estimated 6.74% 30-year benchmark across 125 cities, versus Freddie Mac's 6.48% national 30-year PMMS benchmark from June 4, 2026. Use it to compare city payments, then request same-day lender Loan Estimates for APR, points, fees, lock period, and cash-to-close.
How to Read New Jersey Mortgage Rates
New Jersey is not one uniform mortgage market. The rate table below covers 125 cities, but the real payment difference comes from home price, income, property taxes, loan size, and whether a borrower fits conventional, FHA, VA, or jumbo pricing. Use this page to compare cities first, then use lender quotes for final APR and fee decisions.
- At the state-average payment of $2,246 per month and median income of $80,269, New Jersey looks stretched relative to the standard 28% housing-cost guideline.
- The observed city-level 30-year benchmark spread is 0.65 percentage points, from 6.25% to 6.9%. Even small rate differences matter more in expensive cities because they apply to larger loan balances.
- Property taxes are a bigger part of the payment conversation here, so compare principal-and-interest estimates with escrow included before choosing a lender.
- For buyers comparing down payment choices, pair this state page with the PMI calculator, affordability calculator, and closing cost estimator before assuming the lowest advertised rate creates the lowest total cost.
Payment-Efficient New Jersey Cities
| City | P&I / Income | Monthly P&I | Median Income | 30-Year Rate |
|---|---|---|---|---|
| Hightstown | 21.3% | $1,338 | $75,500 | 6.67% |
| Bloomfield | 26.1% | $1,954 | $89,900 | 6.61% |
| Dumont | 27.1% | $1,955 | $86,700 | 6.77% |
| Gloucester City | 27.4% | $1,923 | $84,100 | 6.82% |
| Bridgewater | 27.4% | $1,992 | $87,100 | 6.62% |
Highest-Priced New Jersey Markets to Stress-Test
New Jersey Mortgage Quote Comparison Worksheet
Use this checklist before choosing between lender quotes, state assistance, builder credits, or a temporary buydown. It is built to catch the costs that do not show up in a simple rate table.
| Line Item | What to Compare |
|---|---|
| Rate vs APR | APR exposes points, lender fees, and credits that can hide inside a lower advertised rate. |
| Cash to close | Compare down payment, closing costs, prepaid taxes, insurance escrow, and any assistance or seller credit. |
| Payment after escrow | New Jersey buyers should compare principal, interest, property tax, insurance, HOA or condo dues, and mortgage insurance together. |
| Assistance terms | Down payment assistance can be a grant, forgivable second, deferred second, or repayable loan; the repayment rule changes the real cost. |
| Rate lock and buydown | Temporary buydowns and lender credits can improve the first-year payment while leaving a higher long-run payment. |
A strong New Jersey mortgage comparison should include at least two lender Loan Estimates plus one program or assistance check where available. Pair this worksheet with the affordability calculator, PMI calculator, and closing cost estimator.
New Jersey NJHMFA DPA, Tax & High-Cost Market Notes
New Jersey borrowers should compare the rate benchmark with NJHMFA homebuyer programs, down payment assistance, high property taxes, county loan limits, commute markets, and whether condo or flood costs alter the payment.
- NJHMFA provides homebuyer resources and mortgage program information for eligible New Jersey buyers through participating lenders.
- Down payment assistance can reduce cash-to-close, but the full comparison still needs APR, mortgage insurance, property taxes, lender fees, and repayment terms.
- New Jersey property taxes can dominate the monthly-payment decision, especially when comparing similarly priced homes in different counties.
- North Jersey, Jersey Shore, Philadelphia-suburb, and South Jersey markets can have very different loan-limit and insurance assumptions.
New Jersey Loan Limit, Tax & Assistance Checks
| Area | Conforming | FHA | Why It Matters |
|---|---|---|---|
| New Jersey conventional loans | Use FHFA lookup | Use HUD lookup | High-cost county and jumbo thresholds should be verified before choosing a loan structure. |
| NJHMFA-assisted purchase | Program-specific | Program-specific | Eligibility and assistance depend on current NJHMFA rules and lender participation. |
| High-tax New Jersey market | Loan limit plus escrow | HUD county lookup | Property taxes can change approval and payment more than the headline rate. |
Official New Jersey Mortgage Sources
New Jersey Housing Highlights
All 125 Cities in New Jersey
| City | 30-Yr Rate | Home Price | Monthly P&I | Population |
|---|---|---|---|---|
| Newark | 6.7% | $365,000 | $1,884 | 311,549 |
| Jersey City | 6.7% | $565,000 | $2,917 | 292,449 |
| Paterson | 6.7% | $385,000 | $1,987 | 159,732 |
| Elizabeth | 6.7% | $395,000 | $2,039 | 137,298 |
| Edison | 6.7% | $485,000 | $2,504 | 107,588 |
| Lakewood | 6.67% | $504,000 | $2,594 | 106,300 |
| Woodbridge | 6.7% | $415,000 | $2,142 | 103,639 |
| Toms River | 6.61% | $497,000 | $2,542 | 95,438 |
| Trenton | 6.7% | $175,000 | $903 | 90,871 |
| Clifton | 6.9% | $413,000 | $2,176 | 89,266 |
| Hamilton Township | 6.64% | $468,000 | $2,401 | 88,464 |
| Brick Township | 6.84% | $421,000 | $2,205 | 77,046 |
| Cherry Hill | 6.89% | $429,000 | $2,258 | 74,553 |
| Camden | 6.7% | $451,000 | $2,328 | 73,562 |
| Passaic | 6.64% | $440,000 | $2,257 | 72,427 |
| Bayonne | 6.66% | $411,000 | $2,113 | 71,852 |
| Union City | 6.84% | $455,000 | $2,383 | 69,781 |
| Franklin Township | 6.72% | $454,000 | $2,348 | 67,698 |
| Old Bridge | 6.78% | $471,000 | $2,451 | 67,555 |
| Middletown | 6.64% | $515,000 | $2,642 | 65,834 |
| Gloucester Township | 6.6% | $500,000 | $2,555 | 64,581 |
| East Orange | 6.86% | $440,000 | $2,309 | 64,270 |
| North Bergen | 6.89% | $425,000 | $2,237 | 63,484 |
| Vineland | 6.67% | $413,000 | $2,125 | 60,724 |
| Irvington | 6.84% | $431,000 | $2,257 | 60,190 |
| Union Township | 6.83% | $451,000 | $2,359 | 59,387 |
| Hoboken | 6.71% | $895,100 | $4,540 | 59,027 |
| Piscataway | 6.75% | $470,000 | $2,439 | 58,501 |
| Jackson Township | 6.61% | $442,000 | $2,261 | 58,005 |
| New Brunswick | 6.67% | $512,000 | $2,635 | 56,100 |
| Parsippany-Troy Hills | 6.86% | $414,000 | $2,172 | 56,000 |
| Perth Amboy | 6.88% | $449,000 | $2,361 | 55,049 |
| Wayne | 6.87% | $437,000 | $2,295 | 54,838 |
| Plainfield | 6.86% | $512,000 | $2,687 | 54,586 |
| Howell | 6.83% | $483,000 | $2,527 | 54,186 |
| West New York | 6.65% | $496,000 | $2,547 | 53,753 |
| Bloomfield | 6.61% | $382,000 | $1,954 | 49,733 |
| Glassboro | 6.66% | $450,000 | $2,313 | 49,539 |
| Cedar Grove | 6.82% | $555,000 | $2,900 | 49,493 |
| Ramsey | 6.66% | $430,000 | $2,211 | 49,318 |
| 85 more New Jersey city mortgage-rate pages are available as individual pages and in the XML sitemap. | ||||
New Jersey Mortgage Rates Guide — 2026
New Jersey homebuyers can use an estimated 30-year fixed benchmark of 6.74%, with median home prices around $433,145. At these rates, the typical monthly mortgage payment (principal and interest with 20% down) is $2,246.
The most affordable city for homebuyers in New Jersey is Bridgeton, where the median home price is $135,000. On the other end, Hoboken has the highest prices at $895,100. Property tax rates across the state average 2.27%.
To comfortably afford a home at the state average price, a household income of approximately $96,257 is recommended, following the standard guideline that housing costs should not exceed 28% of gross income.
For New Jersey mortgage-rate searches, use the city table to compare price and payment pressure, then check NJHMFA eligibility and full escrow. The cheapest lender quote on principal and interest may not be the cheapest total housing cost after taxes, insurance, HOA, and assistance terms.
Use our free loan calculator to see your estimated monthly payments and amortization schedule, or browse individual city pages below for localized rate data and market insights.
Methodology & Mortgage Rate Data Sources
How we calculate New Jersey mortgage rates: Our rate estimates start with weekly mortgage-rate benchmarks and then compare city-level housing assumptions. They are designed for planning and comparison, not as a guarantee of lender pricing.
- Benchmark mortgage rates from Freddie Mac Primary Mortgage Market Survey (PMMS) — the most-cited weekly survey of 30-year and 15-year fixed conforming rates.
- Federal Reserve rate policy tracked via FRED — Federal Reserve Economic Data — the St. Louis Fed's authoritative database of interest rate series.
- Conforming loan limits set annually by the FHFA Conforming Loan Limit announcements (New Jersey 2026: $832,750 baseline, with higher one-unit limits in high-cost counties).
- State lending regulation context from HUD State Information pages covering FHA, down payment assistance, and housing finance agency programs in New Jersey.
- Mortgage market trends tracked via Mortgage Bankers Association (MBA) Weekly Applications Survey — the industry benchmark for mortgage demand and rate sensitivity.
Authoritative mortgage rate data sources:
- Freddie Mac PMMS — weekly 30yr and 15yr fixed rate benchmark
- FRED — Federal Reserve Economic Data — interest rate and housing series
- FHFA — Federal Housing Finance Agency — conforming loan limits and HPI
- HUD — Housing and Urban Development — FHA programs and state assistance
- NJHMFA Road Home — official New Jersey homebuyer program hub
- CFPB Mortgage Rate Checker — personalized rate comparison tool
- VA Home Loan Program — zero down payment loan for eligible veterans
Rate Disclaimer: Rates shown are estimates based on current market surveys and may not reflect actual lender quotes. Your rate depends on credit score, loan-to-value ratio, down payment, property type, and lender. Always obtain personalized rate quotes from multiple lenders. Rates change daily.
Reviewed by Brazora Monk · Last updated May 2026 · Freddie Mac PMMS data current as of June 4, 2026
Frequently Asked Questions — New Jersey Mortgages
What are current mortgage rates in New Jersey?
As of June 4, 2026, Freddie Mac's national benchmark was 6.48% for the 30-year fixed and 5.79% for the 15-year fixed. Amortio's New Jersey city comparison shows an estimated 30-year benchmark average of 6.74% and 15-year average of 5.98%. Rates vary by city, lender, lock date, fees, and borrower qualification.
What is the average home price in New Jersey?
The median home price across 125 cities in New Jersey is $433,145. Prices range from $135,000 in Bridgeton to $895,100 in Hoboken.
How much income do I need to buy a house in New Jersey?
Based on the 28% debt-to-income guideline, you would need a household income of approximately $96,257 to comfortably afford the average home in New Jersey. The median household income in the state is approximately $80,269.
Should New Jersey buyers compare NJHMFA with regular lender quotes?
Yes. NJHMFA programs can help eligible borrowers, but buyers should compare the program rate, APR, assistance amount, repayment rules, mortgage insurance, taxes, and lender fees against ordinary quotes.
New Jersey Mortgage Rates by ZIP Code
Explore mortgage rates for specific ZIP codes in New Jersey. Rates can vary by neighborhood based on local property values and lending conditions.
Browse Mortgage Rates by State
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