Compare mortgage rates and fees for leading lenders in Raritan, 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 Raritan.
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October 22, 2019
The current average rate for a 30 year fixed rate mortgage in Raritan 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%
The median home value for Raritan, NJ (Hunterdon County) is $423,434
The median household income for Raritan, NJ (Hunterdon County) is $114,361
Based on current mortgage rates and a 10% down payment, you need to make $78,560 per year to buy the median priced home in Raritan
The home price you can afford to buy based on household income in Raritan is 146% of the median home value which means housing prices are average
Raritan (Hunterdon County) ranks 9 out of 21 counties in New Jersey and 2,601 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Raritan, NJ is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Raritan (Hunterdon County) below.
Conforming loan limits for Raritan, NJ
FHA loan limits for Raritan, NJ
VA loan limits for Raritan, NJ
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