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 | 7.42% | 7.47% | 7.52% | |
| New Jersey | 7.48% | 7.53% | 7.58% | |
| Credit Unions | 7.08% | 7.13% | 7.28% | 8.7/10 |
| Online lenders | 7.18% | 7.23% | 7.38% | 8.0/10 |
| Banks | 7.48% | 7.53% | 7.58% | 8.3/10 |
| 30 year fixed | 7.48% | 7.53% | 7.58% | |
| 30 year fixed FHA | 6.56% | 6.61% | 6.66% | |
| 30 year fixed VA | 6.19% | 6.24% | 6.29% | |
| 30 year fixed Jumbo | 7.71% | 8.09% | 8.28% | |
| 20 year fixed | 6.91% | 6.96% | 7.01% | |
| 15 year fixed | 6.88% | 6.93% | 6.98% | |
| 10 year fixed | 5.69% | 5.74% | 5.79% | |
| 3 year ARM | 7.45% | 7.50% | 7.55% | |
| 5 year ARM | 7.16% | 7.21% | 7.26% | |
| 7 year ARM | 7.11% | 7.16% | 7.21% | |
| 10 year ARM | 7.46% | 7.51% | 7.56% | |
| Satisfaction | 8.7/10 | 8.1/10 | 8.2/10 |
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.
See which lenders are most recommended for a home mortgage by community members surveys accross the State and in its main metro areas.
Newark, Jersey City, Paterson, Elizabeth, Lakewood, Edison, Woodbridge, Toms River, Hamilton Township, Trenton, Online lenders.
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 Info for New Jersey Home Buyers:
Mortgage Rates & Tools
Home Purchase Calculator: Estimate your monthly payment.
First-Time Home Buyer: Guide for New Jersey first home buyers.
Home Affordability Calculator: See what price range fits your budget.
FHA Mortgage Rates: Current rates for FHA buyers.
30 Year Fixed Home Mortgage: Today’s rate for the most common term.
15 Year Fixed Home Mortgage: Today’s rate for faster payoff.
Loan Programs & Assistance
FHA Loans: How FHA mortgages work and who qualifies.
Mortgage Documents Checklist: What you’ll need to apply, including special cases like self-employed and condo buyers.
Down Payment Assistance: Programs that help cover your down payment.
Lenders & Homeowner Resources
Best Mortgage Lenders in New Jersey: Community rated lenders by city.
New Jersey Home Insurance Cost: Average premiums and top rated local insurers.
Homeowner Resources & Grants: Grants and assistance programs nationwide.
Our data comes from our community: members share the rates, terms, credit requirements and costs they receive from financial services companies. It is then compiled and reviewed by our Data Team. Data is updated weekly on our MFP’s Community Mortgage Survey.