Compare mortgage rates and fees for leading lenders in Trenton, 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 Trenton.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Trenton. Plus, shopping lenders is free and there is no obligation.
December 7, 2019
The current average rate for a 30 year fixed rate mortgage in Trenton 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 Trenton, NJ (Mercer County) is $301,145
The median household income for Trenton, NJ (Mercer County) is $79,382
Based on current mortgage rates and a 10% down payment, you need to make $55,872 per year to buy the median priced home in Trenton
The home price you can afford to buy based on household income in Trenton is 142% of the median home value which means housing prices are average
Trenton (Mercer County) ranks 10 out of 21 counties in New Jersey and 2,647 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Trenton, NJ is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Trenton (Mercer County) below.
Conforming loan limits for Trenton, NJ
FHA loan limits for Trenton, NJ
VA loan limits for Trenton, 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