See the latest New Jersey mortgage rates for fixed rates: 30 year, 20, 15, 10 FHA, VA, Jumbo, plus variable rates: 10, 7, 5, 3 years. Also see how local rates compare nationally and main lending options available across the state.
Buying a home in New Jersey could be easier with today’s mortgage rates.
The table below shows today’s home purchase mortgage rates for New Jersey, organized by credit score and lender type:
| Credit Score | Satisfaction | |||
|---|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | ||
| Nationally | 6.31% | 6.36% | 6.41% | |
| New Jersey | 6.37% | 6.42% | 6.47% | |
| Credit Unions | 5.97% | 6.02% | 6.17% | 9.1/10 |
| Online lenders | 6.07% | 6.12% | 6.27% | 8.2/10 |
| Banks | 6.37% | 6.42% | 6.47% | 8.3/10 |
| 30 year fixed | 6.37% | 6.42% | 6.47% | |
| 30 year fixed FHA | 6.56% | 6.61% | 6.66% | |
| 30 year fixed VA | 6.16% | 6.21% | 6.26% | |
| 30 year fixed Jumbo | 6.60% | 6.98% | 7.17% | |
| 20 year fixed | 6.25% | 6.30% | 6.35% | |
| 15 year fixed | 5.72% | 5.77% | 5.82% | |
| 10 year fixed | 5.69% | 5.74% | 5.79% | |
| 3 year ARM | 7.45% | 7.50% | 7.55% | |
| 5 year ARM | 6.40% | 6.45% | 6.50% | |
| 7 year ARM | 6.32% | 6.37% | 6.42% | |
| 10 year ARM | 6.37% | 6.42% | 6.47% | |
| Satisfaction | 8.5/10 | 8.2/10 | 7.7/10 |
Source: MFP’s Community Home Purchase Rates Survey from New Jersey members in the last 30 days.
| Metro / City | 30-Year Fixed APR | 15-Year Fixed APR |
|---|---|---|
| Newark | 6.38% | 5.68% |
| Jersey City | 6.37% | 5.67% |
| Paterson | 6.35% | 5.65% |
| Edison | 6.36% | 5.66% |
| Trenton | 6.34% | 5.64% |
* APR rates shown are for borrowers with excellent credit. Click city names to view recommended lenders and ratings.
New Jersey homeowners rated their mortgage lenders on:
See the Best Mortgage Lenders in New Jersey
Are home purchase rates higher in New Jersey than the U.S. average?
No, New Jersey rates are typically slightly below the national average, providing favorable conditions for homebuyers in the state.
What credit score is best for buying a home in New Jersey?
A credit score of 720 or higher will generally secure the most competitive mortgage rates available from New Jersey lenders.
Is it better to choose a fixed-rate or ARM in New Jersey?
Fixed-rate mortgages offer payment stability for long-term residents, while ARMs may benefit those planning to move or refinance within a few years.
More New Jersey Home Information:
New Jersey Best Mortgage Lenders
New Jersey Best Home Insurance from Community Recommendations & Insurance Costs
More Resources for New Jersey Homeowners.