New Jersey Mortgage Calculator

Use this free New Jersey mortgage calculator to estimate your monthly mortgage payments and annual amortization.

Total monthly payment

$2,097.54

Total principal

$240,000

Total interest payments

$322,515.39

Total loan payments

$562,515.39

Payoff date

—

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4.5

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580

Min. down payment

3.5%

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on Veterans United

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5.0

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620

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600

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3%

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Getting a Mortgage in New Jersey

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Last updated 11/19/2025

Real estate markets can vary dramatically by location, which is why national housing averages don’t always reflect what buyers actually pay. Housing costs are just one part of affordability, and tools like a cost of living calculator can help show how factors such as taxes, utilities, and everyday expenses differ from place to place.

Mortgage costs in New Jersey, the Garden State, vary depending on where you buy. In Bergen County, home to some of the state’s most expensive housing markets near New York City, the typical monthly mortgage payment for a median‑priced home was $4,305 in Q1 2025, based on a median home value of $717,339, according to the National Association of Realtors. By comparison, the national median monthly payment was $2,120 for a median‑priced single‑family home valued at $402,300.

By contrast, Cumberland County is more affordable. There, the typical monthly mortgage payment was $1,482 for a median‑priced home valued at $252,802, reflecting lower demand and more moderate home prices outside New Jersey’s high‑cost metro areas.

New Jersey mortgage and refinance rates today (APR)

Accurate as of 08/27/2026.

Product	Interest rate	APR
30-year fixed-rate	6.771%	6.776%
20-year fixed-rate	6.732%	6.739%
15-year fixed-rate	5.970%	5.981%
10-year fixed-rate	5.998%	6.012%
7-year ARM	6.667%	6.557%
5-year ARM	6.375%	6.411%
30-year fixed-rate FHA	5.875%	6.604%
30-year fixed-rate VA	5.992%	6.325%

Data source: ©Zillow, Inc. 2006 – 2026. Use is subject to the Terms of Use

Today's rate

6.776%

30-year fixed

Today's mortgage rates in New Jersey are 6.776% for a 30-year fixed, 5.981% for a 15-year fixed, and 6.411% for a 5-year adjustable-rate mortgage (ARM).

New Jersey's first-time home buyer programs

The New Jersey Housing and Mortgage Finance Agency, the NJHMFA, offers several loan programs to help qualified first-time home buyers get a mortgage.

» MORE: First-time home buyer programs by state

Average property tax by county

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in New Jersey. Because assessed values aren't frequently updated, you may pay a higher rate at first but eventually you'll pay a similar rate.

County	Avg. property tax rate	Median home value
Atlantic County	2.20%	$289,200
Bergen County	1.97%	$578,600
Burlington County	2.32%	$329,300
Camden County	2.88%	$271,300
Cape May County	1.03%	$449,000
Cumberland County	2.32%	$202,300
Essex County	2.27%	$494,100
Gloucester County	2.74%	$290,300
Hudson County	1.62%	$526,200
Hunterdon County	2.16%	$480,200
Mercer County	2.34%	$345,800
Middlesex County	2.17%	$440,000
Monmouth County	1.69%	$576,800
Morris County	1.93%	$546,600
Ocean County	1.64%	$379,400
Passaic County	2.52%	$434,600
Salem County	2.24%	$232,700
Somerset County	1.97%	$497,200
Sussex County	2.51%	$352,100
Union County	2.24%	$499,700
Warren County	2.51%	$350,000

Source: American Communities Survey 2022, U.S. Census

How to use the mortgage calculator

To use our mortgage calculator, simply add your details to the following fields:

Home price
Down payment
Interest rate
Loan term (years)

After you enter these four pieces of information, the calculator displays the monthly payment inside the "Loan Estimate" window. It also displays:

Total principal
Total interest payments
Total loan payments
Payoff date

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Calculating costs in addition to principal and interest

The calculator lets you fine-tune your payment by entering your annual property tax premium, annual home insurance premium, monthly homeowner association (HOA) fee, and monthly private mortgage insurance (PMI) premium.

To enter this information, click “Show Advanced Info” underneath the main loan details. Note that you'll enter the annual cost for property taxes and home insurance and the monthly cost for HOA fees and PMI premiums. The PMI field will only display if your down payment is less than 20%.

In the “Loan Estimate” window, select "Amortization Schedule" to uncover a table that shows how much you'll pay in principal and interest each month, as well as the remaining amount you owe ("Principal balance") after making the payment.

» MORE: What is mortgage amortization?

Explanation of terminology

Total monthly payment: An estimate of all your monthly housing costs, covering your loan principal, interest, taxes, insurance, and PMI.
Total principal: This is the amount you borrow. Each mortgage payment reduces the principal you owe.
Total interest payments: How much interest you would pay over the life of the loan.
Total loan payments: The entire amount of principal and interest paid, excluding taxes, insurance, and PMI.
Down payment: The portion of the home’s price you pay in cash upfront.
Interest rate: How much the lender charges you to lend you the money. Interest rates are expressed as an annual percentage. A lower interest rate gives you a smaller monthly payment.
Loan term (years): The number of years you have to repay the mortgage. A longer term gives you a lower monthly payment, but you’ll pay more interest.
Start date: The month that your first mortgage payment is due.
Payoff date: The month your home will be fully paid off based on the loan term.
Property taxes: The annual tax assessed by a government authority on your home and land. You pay about one-twelfth of your annual property tax bill with each mortgage payment, and the servicer saves them in an escrow account. When the taxes are due, the loan servicer pays them.
Homeowners insurance: Your policy covers damage and financial losses from fire, storms, theft, a tree falling on your house and other bad things. As with property taxes, you pay roughly one-twelfth of your annual homeowners insurance premium each month, and the servicer pays the bill when it's due.
Monthly HOA fees: The amount you may pay each month if you belong to a homeowners association. Typically, these dues are billed directly, not added to the monthly mortgage payment. Because HOA dues can be easy to forget when considering the cost of homeownership, NerdWallet's mortgage calculator allows you to enter them here.
Private mortgage insurance: If you get a conventional mortgage and put down less than 20%, you’ll have to pay a monthly PMI premium. It covers the lender if you default on the loan and can be canceled once you reach 20% equity. FHA loans require a similar fee called a mortgage insurance premium.