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Jersey City

Current Mortgage Rates in Jersey City, New Jersey

Compare mortgage rates and fees for leading lenders in Jersey City, NJ. 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 lender offering the best mortgage rates in Jersey City.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Jersey City. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Jersey City, NJ as of October 23, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Jersey City, NJ Mortgage Rates Compare?

October 23, 2019

The current average rate for a 30 year fixed rate mortgage in Jersey City is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Jersey City, NJ Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Jersey City, New Jersey?

The median home value for Jersey City, NJ (Hudson County) is $394,801

The median household income for Jersey City, NJ (Hudson County) is $64,597

Based on current mortgage rates and a 10% down payment, you need to make $73,248 per year to buy the median priced home in Jersey City

The home price you can afford to buy based on household income in Jersey City is 88% of the median home value which means housing prices are expensive

Jersey City (Hudson County) ranks 20 out of 21 counties in New Jersey and 3,058 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Jersey City, NJ is expensive

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Loan Limits for Jersey City, New Jersey

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Jersey City (Hudson County) below.

Conforming loan limits for Jersey City, NJ

1 unit: $726,525
2 units: $930,300
3 units: $1,124,475
4 units: $1,397,400

FHA loan limits for Jersey City, NJ

1 unit: $726,525
2 units: $930,300
3 units: $1,124,475
4 units: $1,397,400

VA loan limits for Jersey City, NJ

1 unit: $726,525

Additional Mortgage Resources for Jersey City, NJ Residents

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Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index