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.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Raritan. Plus, shopping lenders is free and there is no obligation.
July 12, 2020
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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Raritan. Understand how much you need to earn to afford a home in Raritan, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Raritan 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 Raritan is right for you.
The median home value for Raritan, NJ (Hunterdon County) is $455,615
Based on current mortgage rates and a 10% down payment, you need to make $81,999 per year to buy the median priced home in Raritan
With this income, you could qualify for a $410,053 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 Raritan is $1,899
The median household income for Raritan, NJ (Hunterdon County) is $117,032
Based on this income, you can afford a home valued at approximately $650,274
The home price you can afford to buy based on household income in Raritan is 143% of the median home value which means housing prices are average. Raritan (Hunterdon County) ranks 10 out of 21 counties in New Jersey and 2,623 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