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Washington Township

Current Mortgage Rates in Washington Township, New Jersey

Compare mortgage rates and fees for leading lenders in Washington Township, 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 Washington Township.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Washington Township. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Washington Township, NJ as of December 11, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Washington Township, NJ Mortgage Rates Compare?

December 11, 2019

The current average rate for a 30 year fixed rate mortgage in Washington Township 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%

Mortgage Program
Today's
Washington Township, NJ Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Washington Township, New Jersey?

The median home value for Washington Township, NJ (Gloucester County) is $232,095

The median household income for Washington Township, NJ (Gloucester County) is $83,980

Based on current mortgage rates and a 10% down payment, you need to make $43,061 per year to buy the median priced home in Washington Township

The home price you can afford to buy based on household income in Washington Township is 195% of the median home value which means housing prices are average

Washington Township (Gloucester County) ranks 1 out of 21 counties in New Jersey and 1,693 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Washington Township, NJ is average

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Loan Limits for Washington Township, New Jersey

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Washington Township (Gloucester County) below.

Conforming loan limits for Washington Township, NJ

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Washington Township, NJ

1 unit: $402,500
2 units: $515,250
3 units: $622,850
4 units: $774,050

VA loan limits for Washington Township, NJ

1 unit: $484,350

Additional Mortgage Resources for Washington Township, NJ Residents

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Washington Township Mortgage Rates

Sources

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