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.
July 9, 2020
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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Trenton. Understand how much you need to earn to afford a home in Trenton, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Trenton 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 Trenton is right for you.
The median home value for Trenton, NJ (Mercer County) is $314,697
Based on current mortgage rates and a 10% down payment, you need to make $56,637 per year to buy the median priced home in Trenton
With this income, you could qualify for a $283,227 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 Trenton is $1,312
The median household income for Trenton, NJ (Mercer County) is $81,236
Based on this income, you can afford a home valued at approximately $451,375
The home price you can afford to buy based on household income in Trenton is 143% of the median home value which means housing prices are average. Trenton (Mercer County) ranks 9 out of 21 counties in New Jersey and 2,616 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