See current New Jersey Refinance fixed rates (30 Year, 20, 15, 10, FHA, VA and Jumbo), variable rates (10 year, 7, 5, 3), Cash Out rates, plus comparisons with national averages and lender types. Refinancing in New Jersey can help lower your monthly payment, shorten your loan term, or tap into equity with a cash-out refinance.
New Jersey Refinance Rates –
Find community reported rates by New Jersey homeowners (rates are average APR).
| Credit Score | Satisfaction | |||
|---|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | ||
| Nationally | 7.65% | 7.70% | 7.75% | |
| New Jersey | 7.69% | 7.74% | 7.79% | |
| Credit Unions | 7.29% | 7.33% | 7.49% | 8.8/10 |
| Online lenders | 7.39% | 7.44% | 7.58% | 8.1/10 |
| Banks | 7.69% | 7.74% | 7.79% | 7.7/10 |
| 30 year fixed | 7.69% | 7.74% | 7.79% | |
| 30 year fixed FHA | 6.71% | 6.76% | 6.81% | |
| 30 year fixed VA | 6.34% | 6.39% | 6.44% | |
| 30 year fixed Jumbo | 7.80% | 8.04% | 8.22% | |
| 20 year fixed | 7.13% | 7.18% | 7.23% | |
| 15 year fixed | 7.00% | 7.05% | 7.11% | |
| 10 year fixed | 5.81% | 5.86% | 5.91% | |
| 3 year ARM | 7.55% | 7.60% | 7.65% | |
| 5 year ARM | 7.28% | 7.33% | 7.38% | |
| 7 year ARM | 7.21% | 7.26% | 7.31% | |
| 10 year ARM | 7.58% | 7.63% | 7.68% | |
| Satisfaction | 8.8/10 | 8.2/10 | 7.2/10 |
Source: MFP’s Community Home Refinance Rates Survey of New Jersey homeowners members in the last 30 days.
Cash Out Refinance Rates in New Jersey –
Find community reported cash-out refinance rates by New Jersey homeowners (rates are average APR).
| Credit Score | |||
|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | |
| Nationally | 7.77% | 7.90% | 8.02% |
| New Jersey | 7.81% | 7.94% | 8.06% |
| Credit Unions | 7.41% | 7.54% | 7.76% |
| Online lenders | 7.51% | 7.64% | 7.86% |
| Banks | 7.81% | 7.94% | 8.06% |
| 30 year fixed | 7.81% | 7.94% | 8.06% |
| 30 year fixed FHA | 6.84% | 6.96% | 7.09% |
| 30 year fixed VA | 6.46% | 6.59% | 6.71% |
| 30 year fixed Jumbo | 7.92% | 8.04% | 8.17% |
| 20 year fixed | 7.26% | 7.38% | 7.51% |
| 15 year fixed | 7.13% | 7.26% | 7.38% |
| 10 year fixed | 5.93% | 6.06% | 6.19% |
| 3 year ARM | 7.67% | 7.80% | 7.92% |
| 5 year ARM | 7.41% | 7.53% | 7.66% |
| 7 year ARM | 7.33% | 7.46% | 7.58% |
| 10 year ARM | 7.71% | 7.83% | 7.96% |
Source: MFP’s Community Home Refinance Rates Survey of New Jersey members in the last 30 days.
How New Jersey Compares to National Averages
- New Jersey refinance rates (7.69% for best credit scores) are in line with national averages (national average: 7.65%).
- Credit unions are more competitive: In New Jersey, credit unions offer 7.54%, banks 7.79%, online lenders 7.64%.
- Borrower satisfaction: Credit unions 8.7/10, Online lenders 8.4/10, Banks 8.1/10.
Refinance Options in New Jersey
- 30-year Fixed: At 7.69% APR for excellent credit, New Jersey's most popular choice for stable long-term payments with predictable monthly costs
- 30-year Fixed FHA: At 6.71% APR for excellent credit, government-backed programs with competitive terms and flexible qualification requirements
- 30-year Fixed VA: At 6.34% APR for excellent credit, exclusive to eligible veterans and military members, featuring New Jersey's most competitive rates
- 30-year Fixed Jumbo: At 7.80% APR for excellent credit, for high-value homes with competitive jumbo mortgage terms
- 20-year Fixed: At 7.13% APR for excellent credit, a balanced option between shorter and longer terms with moderate payments
- 15-year Fixed: At 7.00% APR for excellent credit, lower interest rates but higher monthly payments, ideal for building equity faster
- 10-year Fixed: At 5.81% APR for excellent credit, the shortest fixed-term option with competitive rates for rapid equity building
- Adjustable-rate mortgages (ARMs): Various terms including 3-year (7.55% APR), 5-year (7.28% APR), 7-year (7.21% APR), and 10-year (7.58% APR) options that start lower but may adjust upward after initial fixed period
Metro Area Rates
| Metro / City | 30-Year Fixed APR | 15-Year Fixed APR |
|---|---|---|
| Newark | 6.61% | 5.80% |
| Jersey City | 6.60% | 5.79% |
| Paterson | 6.59% | 5.79% |
| Trenton | 6.58% | 5.78% |
| Elizabeth | 6.58% | 5.78% |
* APR Rates shown are for borrowers with the best credit scores. Click the city name to see community recommended lenders and ratings
Compare Lenders Rated by New Jersey Homeowners
New Jersey borrowers consistently give credit unions (8.7/10) the edge for satisfaction, followed by online lenders (8.4/10) and banks (8.1/10).
See our full list of Best Mortgage Refinance Lenders in New Jersey, based on homeowner ratings across the state.
FAQs – New Jersey Refinance Rates
Are refinance rates better in New Jersey than the U.S. average?
Yes. The state’s average 30-year fixed refinance rate is 6.59%, slightly below the national average of 6.60%.
What’s the best lender type in New Jersey for refinancing?
Credit unions top the list, offering the lowest average rates (6.19%) and the highest customer satisfaction ratings (8.9/10).
Can veterans access lower refinance rates in New Jersey?
Yes. VA loans in New Jersey average 6.28%, among the most competitive refinance options available in the state.
More Info for New Jersey Homeowners:
Calculators & Tools
Home Equity Loan Calculator: See what you can borrow and what the draw period looks like.
HELOC Calculator: Estimate monthly payments on a fixed equity loan.
Loans Comparison Calculator: Compare Cost of Heloc, Cash-Out, Home Equity, Renovation Loan
Lenders & Loan Programs
New Jersey Best Refinance Lenders: from Community Recommendations Survey
Documents: Documents needed to refinance.
New Jersey Home Equity Loan & New Jersey HELOC Rates
Insurance & Homeowner Resources
New Jersey Best Home Insurance: from Community recommendations & Local Costs