Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Mortgage rates in New Jersey

Rates that usually mimic or come in under the national average.

Average mortgage rates in New Jersey hover around 4.701% and are predicted to stay around 4% in the upcoming year.

Compare mortgage lenders and brokers

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
(NMLS #1121636)
Conventional, Home equity, Refinance
Not available in: AK, HI, MO, NH, NM, NY, SD, WV
No hidden fees, multiple loan terms, and member discounts available.
(NMLS #330511)
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
Online preapproval in minutes and no origination fees with this direct lender.
Axos Bank
(NMLS #524995)
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Streamline your mortgage from quote to final payment — all from your computer or phone.
(NMLS #1136)
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
Connect with vetted home loan lenders quickly through this online marketplace.

Compare up to 4 providers

How much do New Jersey rates vary?

Mortgage rates for 30-year fixed-rate loans in New Jersey were between 4.601% and 4.815% in 2018. There are a few factors that go into determining your rate. For example, 15-year loans typically have a lower rate than 30-year mortgages.

2018 average rates in New Jersey by loan type

Loan type15-year average rate30-year average rate

Based on data from

Say you have a 30-year conventional loan for $285,000 with the 2018 average interest rate of 4.643%. This loan might run you $1,470 in monthly mortgage payments, excluding mortgage-specific charges like taxes and private mortgage insurance. On the other hand, if you selected a 15-year loan term with the average rate of 4.102%, your monthly payment might come in around $2,120.

Even though the monthly payments for the 15-year loan are $650 higher than the 30-year option, the shorter term might end up saving you around $146,530 in interest over the life of the loan.

Mortgage rates for the Garden State are expected to stay under the 4% mark in 2020.

New Jersey rates have historically stayed at or below the national average. In the past 10 years, interest rates have averaged 0.07% less than the rest of the country.

Bankrate chief financial analyst Greg Mcbride predicts interest rates to remain relatively stable around 4% in 2020. Several US housing agencies predict sub-4% rates in the coming year. New Jersey rates are expected to follow suit and not pass the 4% mark.

Compare mortgage rates throughout New Jersey

Property location in New Jersey can affect your monthly mortgage payment. With differing home values, loan amounts and interest rates, your payment will vary depending on where you live.

We poured over data from the Home Mortgage Disclosure Act to find out what you might end up paying for the average 30-year fixed-rate mortgage in different metropolitan areas in New Jersey. These calculations don’t reflect any costs or fees specific to your loan.

Metropolitan statistical area (MSA)Average mortgage rateMedian loan amountEstimated monthly cost
Allentown MSA (Warren County, NJ)4.797%$205,000$1,080
Atlantic City-Hammonton4.837%$175,000$920
Camden MSA (Burlington, Camden and Gloucester Counties, NJ)4.799%$185,000$970
Newark MSA ( Essex, Hunterdon, Morris, Sussex and Union Counties, NJ)4.636%$305,000$1,570
Newark MSA (Bergen, Hudson and Passaic Counties, NJ)4.656%$315,000$1,630
Ocean City4.605%$285,000$1,460

Based on data from

How to get the best mortgage rate in New Jersey

A few strategies to get a better rate on your loan:

  1. Learn about different loan products. Loan programs vary and often have different rates. Learn about what programs you qualify for and then compare rates.
  2. Focus on your credit scores. Pay off as much existing debt as possible and pay all bills on time to help increase your credit score. Borrowers with good to excellent credit typically receive the best rates from lenders.
  3. Research closing costs. Average closing costs in New Jersey are 0.97% to 1.29% of the purchase price of the home. Some lenders may advertise lower rates while hitting you with higher closing costs. Weigh these costs against the mortgage rate to see the true cost of the loan.

Historical mortgage interest rates in New Jersey

Bottom line

Average mortgage rates in New Jersey usually follow or slide right under the national average. Rates in the Garden State are expected to stick below the 4% level in 2020. Research different lenders and loans to find the right program for you.

Frequently asked questions

More guides on Finder

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site