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Washington Township

Compare Current Washington Township, New Jersey Mortgage Rates

Compare Washington Township, 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 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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Washington Township, NJ Mortgage Rates as of December 1, 2022
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Data provided by Icanbuy. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Washington Township, NJ Mortgage Rates

December 1, 2022

Current mortgage rates in Washington Township, NJ are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Washington Township, NJ Rates
National
Average
Comparison
30 Year Fixed Rate
%
6.580%
15 Year Fixed Rate
%
5.900%
5/1 Adjustable Rate Mortgage
%
5.895%

How Affordable is Housing in Washington Township, New Jersey?

Below we provide helpful information on the real estate market, home prices and housing affordability in Washington Township. Understand how much you need to earn to afford a home in Washington Township, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Washington Township 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 Washington Township is right for you.

The median home value for Washington Township, NJ (Gloucester County) is $270,925

Based on current mortgage rates and a 10% down payment, you need to make $44,390 per year to buy the median priced home in Washington Township

With this income, you could qualify for a $243,832 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 Washington Township is $1,028

The median household income for Washington Township, NJ (Gloucester County) is $96,681

Based on this income, you can afford a home valued at approximately $590,071

The home price you can afford to buy based on household income in Washington Township is 218% of the median home value which means housing prices are affordable. Washington Township (Gloucester County) ranks 1 out of 21 counties in New Jersey and 1,376 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 affordable

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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: $647,200
2 units: $828,700
3 units: $1,001,650
4 units: $1,244,850

FHA loan limits for Washington Township, NJ

1 unit: $477,250
2 units: $610,950
3 units: $738,500
4 units: $917,800

VA loan limits for Washington Township, NJ

1 unit: $647,200

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