Compare Sussex, 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 Sussex.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Sussex. 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 Sussex. Understand how much you need to earn to afford a home in Sussex, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Sussex 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 Sussex is right for you.
The median home value for Sussex, NJ is $339,994
Based on current mortgage rates and a 10% down payment, you need to make $55,707 per year to buy the median priced home in Sussex
With this income, you could qualify for a $305,994 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 Sussex is $1,290
The median household income for Sussex, NJ is $109,309
Based on this income, you can afford a home valued at approximately $667,142
The home price you can afford to buy based on household income in Sussex is 196% of the median home value which means housing prices are average. Sussex ranks 3 out of 21 counties in New Jersey and 1,807 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Sussex, NJ is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Sussex below.
Conforming loan limits for Sussex, NJ
FHA loan limits for Sussex, NJ
VA loan limits for Sussex, NJ