Compare Bergen, NJ mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Bergen.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Bergen. Plus, shopping lenders is free and there is no obligation.
December 1, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Bergen. Understand how much you need to earn to afford a home in Bergen, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Bergen fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Bergen is right for you.
The median home value for Bergen, NJ is $582,829
Based on current mortgage rates and a 10% down payment, you need to make $95,494 per year to buy the median priced home in Bergen
With this income, you could qualify for a $524,546 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Bergen is $2,211
The median household income for Bergen, NJ is $117,628
Based on this income, you can afford a home valued at approximately $717,919
The home price you can afford to buy based on household income in Bergen is 123% of the median home value which means housing prices are average. Bergen ranks 16 out of 21 counties in New Jersey and 2,864 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Bergen, NJ is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Bergen below.
Conforming loan limits for Bergen, NJ
FHA loan limits for Bergen, NJ
VA loan limits for Bergen, NJ