The New Jersey mortgage calculator estimate for the median priced New Jersey home ($454,400), with 20% down on a 30 year fixed loan at today's MonitorBankRates New Jersey average mortgage rate of 7.185%, is a monthly mortgage payment of about $2,464 for principal and interest, or about $3,394 with New Jersey property taxes and homeowners insurance included, verified by MonitorBankRates as of November 12, 2026.
Lenders serving New Jersey currently advertise 30 year fixed rates from 5.25% to 6.63% across the 5 offers listed below. This New Jersey mortgage calculator starts from those local numbers instead of national guesses: the New Jersey median home value, the median property tax bill, the typical homeowners insurance premium and today's MonitorBankRates New Jersey average rate are already filled in. Change anything, or click a verified lender rate in the panel below the calculator to see the payment at that offer. On the median home the full payment works out to 39.3% of the New Jersey median household income of $103,556.
Use figures for a New Jersey city
Loads the median home value, property tax and insurance cost for the city into the calculator. The rate stays at the MonitorBankRates New Jersey average.
New Jersey Monthly Payment Estimator
Prefilled with New Jersey medians and today's MonitorBankRates New Jersey average rate. Results update as you type.
Where your monthly payment goes
| Principal & interest | $0 |
| Property tax | $0 |
| Homeowners insurance | $0 |
| HOA dues | $0 |
| PMI | $0 |
| Total monthly payment | $0 |
Loan balance over time
Amortization schedule (yearly totals)
| Year | Principal Paid | Interest Paid | PMI Paid | Ending Balance |
|---|
Current New Jersey Average Mortgage Rates
Today's MonitorBankRates New Jersey averages first, then the lowest verified offer per loan type from lenders serving New Jersey. Click any rate to run it through the calculator.
30 Year Fixed Offers in New Jersey and the Payment on the Median Home
Principal and interest on the median priced New Jersey home ($454,400, 20% down, $363,520 borrowed) at each lender's current 30 year fixed rate. Rates are pulled from each lender's published rate sheet and verified by MonitorBankRates.
- H & E Telephone Federal Credit UnionFirst Mortgage - 30 Year Fixed, APR 5.250%, verified Nov 9, 2026 5.250%$2,007 a month
- Peapack-Gladstone Bank30 Year Fixed-Affordable Housing, APR 6.115%, verified Nov 11, 2026 6.000%$2,179 a month
- Dime Community Bank30 Year Fixed - Affordable Housing Program, APR 6.481%, verified Nov 5, 2026 6.375%$2,268 a month
- Spencer Savings BankSpecial Homeowner Loan - 30 Year Fixed First Lien, APR 6.625%, verified Nov 11, 2026 6.625%$2,328 a month
- Ukrainian National Federal Credit UnionFirst Mortgage - 30 year fixed (not offered on co-ops), APR 6.625%, verified Nov 7, 2026 6.625%$2,328 a month
Compare all loan types, local banks and credit unions first, on the New Jersey mortgage rates page, or see how the state average has moved on the New Jersey mortgage rate trends page.
View Your New Jersey Mortgage Rate
Enter your loan details to see personalized rate quotes from lenders serving New Jersey.
What a Mortgage Costs in New Jersey Right Now
| Median New Jersey home, 20% down, 30 year fixed at the MonitorBankRates New Jersey average of 7.185% | Monthly |
|---|---|
| Principal and interest | $2,464 |
| Property tax (New Jersey median, Census) | $812 |
| Homeowners insurance (New Jersey typical premium) | $118 |
| Estimated total payment (PITI) | $3,394 |
| Principal and interest on a 15 year loan at 6.771% | $3,221 |
| Household income needed at a 28% housing ratio | $145,000 a year |
Over 30 years the $363,520 loan costs about $523,463 in interest; the same loan on a 15 year term at 6.771% costs about $216,270 in interest but the payment rises to $3,221. The New Jersey average of 7.185% is close to the U.S. average of 7.146%, which on this loan is a difference of about $10 a month. The full payment is 39.3% of the New Jersey median household income of $103,556; lenders generally want that figure under 28%, which is why a household earning about $145,000 is the rough qualifying level for the median home here.
Rates change daily. Every figure above is recalculated when this page loads from the current MonitorBankRates New Jersey average, so the numbers reflect today's market.
How the Down Payment Changes a New Jersey Mortgage Payment
On the median New Jersey home at the MonitorBankRates New Jersey average of 7.185%. Below 20% down, private mortgage insurance is added at 0.5% of the loan per year until the balance reaches 78% of the purchase price. Taxes and insurance use the New Jersey medians.
| Down payment | Cash down | Loan | P&I | PMI | Est. total |
|---|---|---|---|---|---|
| 3% | $13,632 | $440,768 | $2,987 | $184 | $4,101 |
| 5% | $22,720 | $431,680 | $2,926 | $180 | $4,036 |
| 10% | $45,440 | $408,960 | $2,772 | $170 | $3,872 |
| 15% | $68,160 | $386,240 | $2,618 | $161 | $3,709 |
| 20% | $90,880 | $363,520 | $2,464 | none | $3,394 |
Monthly Payment by Home Price in New Jersey
20% down, 30 year fixed at the MonitorBankRates New Jersey average of 7.185%. Property tax is scaled at the New Jersey effective rate of 2.14% of value (U.S. 0.94%); insurance is held at the New Jersey figure of $1,420 a year.
| Home price | Loan | P&I | Property tax | Est. PITI |
|---|---|---|---|---|
| $225,000 | $180,000 | $1,220 | $402 | $1,740 |
| $350,000 | $280,000 | $1,898 | $625 | $2,641 |
| $450,000 (about the median) | $360,000 | $2,440 | $804 | $3,362 |
| $575,000 | $460,000 | $3,118 | $1,027 | $4,263 |
| $675,000 | $540,000 | $3,660 | $1,206 | $4,984 |
| $900,000 | $720,000 | $4,880 | $1,608 | $6,606 |
Mortgage Payments in New Jersey's Largest Cities
The same estimate as above, run on each city's own median home value: 20% down, 30 year fixed at the MonitorBankRates New Jersey average of 7.185%, plus the city's median property tax and homeowners insurance where the Census reports them. Pick the city in the calculator above to load its figures, or open the city's rates page for verified lender offers.
| City | Median home | Loan (20% down) | P&I | Est. PITI |
|---|---|---|---|---|
| Newark mortgage rates | $373,700 | $298,960 | $2,026 | $2,808 |
| Jersey City mortgage rates | $566,900 | $453,520 | $3,074 | $3,940 |
| Paterson mortgage rates | $360,100 | $288,080 | $1,953 | $2,901 |
| Elizabeth mortgage rates | $449,300 | $359,440 | $2,436 | $3,354 |
| Lakewood mortgage rates | $715,500 | $572,400 | $3,880 | $5,282 |
| Woodbridge mortgage rates | $390,000 | $312,000 | $2,115 | $2,990 |
| Toms River mortgage rates | $403,600 | $322,880 | $2,188 | $2,865 |
| Trenton mortgage rates | $160,700 | $128,560 | $871 | $1,407 |
For example, a median-priced home in Newark ($373,700) financed with 20% down at 7.185% runs about $2,026 a month in principal and interest before taxes and insurance. Home values, taxes and insurance vary widely inside a metro area, so use the calculator with your own numbers once you have a price in mind.
New Jersey Property Taxes and Homeowners Insurance
Property taxes. The median New Jersey homeowner with a mortgage pays about $9,741 a year in property taxes, which is roughly 2.14% of the median home value, compared with about 0.94% nationally. Taxes are set by counties, cities and school districts, so the bill on a specific home can be well above or below the state median. Your county assessor's website lists the current tax on any address; enter that figure in the calculator for an exact escrow estimate.
Homeowners insurance. A typical New Jersey policy runs about $1,420 a year ($118 a month). Premiums depend on the home's replacement cost, roof age, distance from the coast or wildland, and claims history, so quotes for the same house can differ by hundreds of dollars. Compare carriers and average premiums by company on the New Jersey homeowners insurance page.
Affordability. New Jersey scores 83.6 on the MBR Housing Affordability Index, ranking 42 of 51 states where 100 is the national average and higher is more affordable. The full breakdown of home prices, incomes, taxes and insurance is on the New Jersey housing affordability page.
How to Use the New Jersey Mortgage Calculator
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Start from the New Jersey defaults
The home price is the New Jersey median, the rate is today's MonitorBankRates New Jersey average, and the tax and insurance lines are the state medians. If we track figures for your city, pick it above to swap in local home values and costs.
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Enter your price and down payment
Type the purchase price you have in mind and your down payment in dollars or as a percentage. Under 20% down the calculator adds PMI automatically and shows when it drops off.
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Click a verified lender rate
The rate panel lists the lowest current offer per loan type from lenders serving New Jersey. One click applies that rate and term, so you can compare a 15 year offer with a 30 year offer, or an FHA rate with a conventional one, without retyping anything.
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Review the full payment
The large figure is the estimated total monthly payment including escrow. The breakdown chart shows where each dollar goes, the balance chart shows how quickly equity builds, and the schedule lists principal, interest and PMI paid each year.
Frequently Asked Questions About New Jersey Mortgages
What is the average mortgage rate in New Jersey today?
The MonitorBankRates New Jersey average for a 30 year fixed mortgage is 7.185% as of November 12, 2026, and the 15 year fixed average is 6.771%. The averages are computed every day from rates published by banks and credit unions lending in New Jersey. Individual lenders currently advertise 30 year rates from 5.25% to 6.63%, so it pays to compare offers on the New Jersey mortgage rates page.
How much is the mortgage payment on a median priced home in New Jersey?
With 20% down on the median New Jersey home value of $454,400, a 30 year fixed loan of $363,520 at 7.185% costs about $2,464 a month in principal and interest. Adding the median New Jersey property tax bill of $9,741 a year and homeowners insurance of about $1,420 a year brings the full payment to roughly $3,394 a month.
How much income do you need to buy the median home in New Jersey?
Lenders generally want the full housing payment under 28% of gross income. At about $3,394 a month for the median New Jersey home with 20% down, that works out to a household income of roughly $145,000 a year, compared with the New Jersey median household income of $103,556. A larger down payment, a lower rate or a less expensive home lowers the income needed.
How much are property taxes in New Jersey?
The median New Jersey homeowner with a mortgage pays about $9,741 a year in property taxes, roughly 2.14% of the median home value versus about 0.94% nationally. Rates are set locally, so check the county assessor for the tax on a specific property and enter it in the calculator.
How much is homeowners insurance in New Jersey?
A typical New Jersey homeowners insurance policy costs about $1,420 a year, or $118 a month, which the calculator includes in the total payment. Premiums vary with the home's replacement cost, location and claims history, so get quotes from several carriers before you close.
How much down payment do I need in New Jersey?
Conventional loans allow as little as 3% to 5% down, FHA loans require 3.5%, and VA and USDA loans can be zero down for eligible borrowers. On the median New Jersey home, 20% down is $90,880 and avoids PMI; 5% down is $22,720 but adds PMI of about $180 a month until the balance reaches 78% of the price.
Should I choose a 15 year or 30 year mortgage in New Jersey?
On the median New Jersey home with 20% down, the 30 year payment is about $2,464 a month in principal and interest versus about $3,221 on a 15 year loan at 6.771%. The 30 year loan costs about $523,463 in interest over its life compared with about $216,270 for the 15 year. Choose the 15 year if the higher payment fits comfortably; otherwise take the 30 year and pay extra principal when you can.
What is PITI?
PITI stands for principal, interest, taxes and insurance, the four parts of a typical monthly mortgage payment. Lenders usually collect the tax and insurance portions in an escrow account along with the loan payment, which is why the bill you receive is higher than the principal and interest figure alone. This calculator estimates all four for New Jersey, plus HOA dues and PMI when they apply.
What is PMI and when does it go away?
Private mortgage insurance protects the lender if you default and is usually required on conventional loans with less than 20% down. It typically adds 0.3% to 1.5% of the loan amount per year. On most conventional loans it is canceled automatically when the balance reaches 78% of the original purchase price, and you can request cancellation at 80%.
Mortgage Calculators for Other States
Each state page starts from that state's average rate, median home value, property tax and insurance cost. The national mortgage calculator compares the payment on the median home in every state.
