New Jersey Mortgage Calculator
New Jersey has the 2nd-highest effective property tax rate of the 50 states at 1.88% — $5,626 more a year than the 0.91% state average on a $580,000 home. Homeowners insurance averages $1,421 a year, the 7th-lowest premium nationally and $1,299 less than the typical state.
Most New Jersey counties use the $832,750 conforming loan limit for 2026, but 12 high-cost counties — Bergen County ($1,209,750), Essex County ($1,209,750), Hudson County ($1,209,750) and others — allow larger conforming loans. Above those amounts you need a jumbo loan.
On a $580,000 home, property tax and insurance add $1,027 a month in New Jersey, compared with $376 in Delaware, $736 in Pennsylvania, $769 in New York.
Loan Parameters
Total Monthly Payment
$4,824
Principal & Interest + Taxes + Insurance
APR 7.488%
Total Interest
$732,027
Total Cost
$1,655,099
Advanced Parameters
Private Mortgage Insurance (PMI)
Your down payment is below 20%. PMI is estimated at 0.72% annually and is removed here when your LTV reaches 80%.
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
Feb 2035
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | PMI | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $41,801 | $5,272 | $36,529 | $3,758 | $516,728 | $63,272 |
| Year 2 | $41,801 | $5,655 | $36,146 | $3,758 | $511,073 | $68,927 |
| Year 3 | $41,801 | $6,065 | $35,735 | $3,758 | $505,008 | $74,992 |
| Year 4 | $41,801 | $6,506 | $35,295 | $3,758 | $498,502 | $81,498 |
| Year 5 | $41,801 | $6,978 | $34,823 | $3,758 | $491,524 | $88,476 |
| Year 6 | $41,801 | $7,485 | $34,316 | $3,758 | $484,040 | $95,960 |
| Year 7 | $41,801 | $8,028 | $33,773 | $3,758 | $476,011 | $103,989 |
| Year 8 | $41,801 | $8,611 | $33,190 | $3,758 | $467,400 | $112,600 |
| Year 9 | $41,801 | $9,236 | $32,564 | $1,253 | $458,164 | $121,836 |
| Year 10 | $41,801 | $9,907 | $31,894 | — | $448,257 | $131,743 |
| Year 11 | $41,801 | $10,626 | $31,174 | — | $437,630 | $142,370 |
| Year 12 | $41,801 | $11,398 | $30,403 | — | $426,232 | $153,768 |
| Year 13 | $41,801 | $12,226 | $29,575 | — | $414,007 | $165,993 |
| Year 14 | $41,801 | $13,113 | $28,688 | — | $400,893 | $179,107 |
| Year 15 | $41,801 | $14,065 | $27,735 | — | $386,828 | $193,172 |
| Year 16 | $41,801 | $15,087 | $26,714 | — | $371,741 | $208,259 |
| Year 17 | $41,801 | $16,182 | $25,619 | — | $355,559 | $224,441 |
| Year 18 | $41,801 | $17,357 | $24,444 | — | $338,202 | $241,798 |
| Year 19 | $41,801 | $18,618 | $23,183 | — | $319,584 | $260,416 |
| Year 20 | $41,801 | $19,969 | $21,831 | — | $299,615 | $280,385 |
| Year 21 | $41,801 | $21,419 | $20,382 | — | $278,196 | $301,804 |
| Year 22 | $41,801 | $22,975 | $18,826 | — | $255,221 | $324,779 |
| Year 23 | $41,801 | $24,643 | $17,158 | — | $230,578 | $349,422 |
| Year 24 | $41,801 | $26,432 | $15,369 | — | $204,146 | $375,854 |
| Year 25 | $41,801 | $28,351 | $13,450 | — | $175,795 | $404,205 |
| Year 26 | $41,801 | $30,410 | $11,391 | — | $145,385 | $434,615 |
| Year 27 | $41,801 | $32,618 | $9,183 | — | $112,767 | $467,233 |
| Year 28 | $41,801 | $34,986 | $6,815 | — | $77,781 | $502,219 |
| Year 29 | $41,801 | $37,527 | $4,274 | — | $40,254 | $539,746 |
| Year 30 | $41,804 | $40,254 | $1,549 | — | $0 | $580,000 |
New Jersey mortgage data
- Typical home value
- $580,353
- Zillow ZHVI, August 31, 2026 (U.S. $368,697)
- Effective property tax rate
- 1.88%
- $10,904/yr on a $580,000 home
- Average homeowners insurance
- $1,421/yr
- $118/mo
- 2026 conforming loan limit
- $832,750 – $1,209,750
- 21 counties
- High-cost counties
- 12
- Limit above $832,750
- 2026 FHA loan limit (1-unit)
- $541,287 – $1,209,750
- Varies by county — confirm on HUD
- Current 30-yr / 15-yr fixed average
- 7.03% / 6.42%
- Freddie Mac PMMS, September 24, 2026
New Jersey calculators by loan type
How much house can you afford in New Jersey?
Highest price where principal, interest, New Jersey property tax, insurance and PMI stay within 28% of gross income —10% down, 30-year fixed at 7.03%. Other debts lower these numbers.
| Household income | Housing budget / mo | Max home price | Down payment | vs typical home |
|---|---|---|---|---|
| $50,000 | $1,167 | $129,000 | $12,900 | 22% |
| $75,000 | $1,750 | $201,000 | $20,100 | 35% |
| $100,000 | $2,333 | $273,000 | $27,300 | 47% |
| $125,000 | $2,917 | $344,000 | $34,400 | 59% |
| $150,000 | $3,500 | $416,000 | $41,600 | 72% |
| $200,000 | $4,667 | $560,000 | $56,000 | 96% |
| $250,000 | $5,833 | $704,000 | $70,400 | 121% |
New Jersey mortgage payment by loan amount
30-year fixed at 7.03%, 20% down, with New Jersey property tax and insurance on the matching home price.
| Loan amount | P&I | Total / month | Income needed | Loan type |
|---|---|---|---|---|
| $150,000 mortgage | $1,001 | $1,413 | $61,000 | Conforming |
| $175,000 mortgage | $1,168 | $1,629 | $70,000 | Conforming |
| $200,000 mortgage | $1,335 | $1,845 | $80,000 | Conforming |
| $225,000 mortgage | $1,501 | $2,061 | $89,000 | Conforming |
| $250,000 mortgage | $1,668 | $2,276 | $98,000 | Conforming |
| $275,000 mortgage | $1,835 | $2,492 | $107,000 | Conforming |
| $300,000 mortgage | $2,002 | $2,708 | $117,000 | Conforming |
| $325,000 mortgage | $2,169 | $2,924 | $126,000 | Conforming |
| $350,000 mortgage | $2,336 | $3,139 | $135,000 | Conforming |
| $375,000 mortgage | $2,502 | $3,355 | $144,000 | Conforming |
| $400,000 mortgage | $2,669 | $3,571 | $154,000 | Conforming |
| $425,000 mortgage | $2,836 | $3,787 | $163,000 | Conforming |
| $450,000 mortgage | $3,003 | $4,003 | $172,000 | Conforming |
| $475,000 mortgage | $3,170 | $4,218 | $181,000 | Conforming |
| $500,000 mortgage | $3,337 | $4,434 | $191,000 | Conforming |
| $525,000 mortgage | $3,503 | $4,650 | $200,000 | Conforming |
| $550,000 mortgage | $3,670 | $4,866 | $209,000 | Conforming |
| $575,000 mortgage | $3,837 | $5,082 | $218,000 | Conforming |
| $600,000 mortgage | $4,004 | $5,297 | $228,000 | Conforming |
| $625,000 mortgage | $4,171 | $5,513 | $237,000 | Conforming |
| $650,000 mortgage | $4,338 | $5,729 | $246,000 | Conforming |
| $675,000 mortgage | $4,504 | $5,945 | $255,000 | Conforming |
| $700,000 mortgage | $4,671 | $6,160 | $265,000 | Conforming |
| $725,000 mortgage | $4,838 | $6,376 | $274,000 | Conforming |
| $750,000 mortgage | $5,005 | $6,592 | $283,000 | Conforming |
| $775,000 mortgage | $5,172 | $6,808 | $292,000 | Conforming |
| $800,000 mortgage | $5,339 | $7,024 | $302,000 | Conforming |
| $825,000 mortgage | $5,505 | $7,239 | $311,000 | Conforming |
| $850,000 mortgage | $5,672 | $7,455 | $320,000 | Jumbo in most counties |
| $875,000 mortgage | $5,839 | $7,671 | $329,000 | Jumbo in most counties |
| $900,000 mortgage | $6,006 | $7,887 | $339,000 | Jumbo in most counties |
| $925,000 mortgage | $6,173 | $8,103 | $348,000 | Jumbo in most counties |
| $950,000 mortgage | $6,340 | $8,318 | $357,000 | Jumbo in most counties |
| $975,000 mortgage | $6,506 | $8,534 | $366,000 | Jumbo in most counties |
| $1,000,000 mortgage | $6,673 | $8,750 | $375,000 | Jumbo in most counties |
| $1,100,000 mortgage | $7,341 | $9,613 | $412,000 | Jumbo in most counties |
| $1,200,000 mortgage | $8,008 | $10,476 | $449,000 | Jumbo in most counties |
| $1,300,000 mortgage | $8,675 | $11,339 | $486,000 | Jumbo |
| $1,400,000 mortgage | $9,342 | $12,203 | $523,000 | Jumbo |
| $1,500,000 mortgage | $10,010 | $13,066 | $560,000 | Jumbo |
Loan programs compared in New Jersey
$580,000 home, each program's typical minimum or default down payment, current average 30-year rate.
| Loan type | Down | Loan amount | Upfront fee | Monthly MI | Total / month | APR |
|---|---|---|---|---|---|---|
| Conventional | 10% · $58,000 | $522,000 | — | $313 PMI | $4,824 | 7.488% |
| FHA | 3.5% · $20,300 | $569,495 | UFMIP $9,795 | $260 MIP | $5,087 | 7.761% |
| VA | 0% · $0 | $592,470 | Funding fee $12,470 | $0 | $4,981 | 7.242% |
| JumboLoan is conforming (≤ $832,750) | 20% · $116,000 | $464,000 | — | $0 | $4,123 | 7.030% |
New Jersey high-cost counties (2026)
12 counties have a one-unit conforming limit above the $832,750 baseline. Loans up to these amounts are conforming, not jumbo.
- Bergen County$1,209,750
- Essex County$1,209,750
- Hudson County$1,209,750
- Hunterdon County$1,209,750
- Middlesex County$1,209,750
- Monmouth County$1,209,750
- Morris County$1,209,750
- Ocean County$1,209,750
- Passaic County$1,209,750
- Somerset County$1,209,750
- Sussex County$1,209,750
- Union County$1,209,750
Frequently asked questions
What is the monthly mortgage payment on a $580,000 home in New Jersey?
$580,000 is the typical New Jersey home value. With 10% down on a conventional loan, the estimated payment is $4,824 per month ($3,483 principal & interest, $909 property tax, $118 insurance, $313 PMI) at 7.03% for 30 years, including New Jersey's 1.88% effective property tax rate.
What is the 2026 conforming loan limit in New Jersey?
$832,750 in most counties and up to $1,209,750 in 12 high-cost counties, including Bergen County, Essex County, Hudson County.
How much income do I need for a $580,000 home in New Jersey?
About $207,000 a year if housing costs stay within 28% of gross income — a common lender guideline. Lenders also look at total debt-to-income, usually capped around 43%–50%.
How much house can I afford in New Jersey on a $100,000 salary?
About $273,000 with 10% down, keeping the payment (including New Jersey property tax, insurance and PMI) within 28% of gross income at 7.03%. The typical New Jersey home ($580,353) needs roughly $207,000 a year.
Explore related calculators
Data sources & assumptions
- Freddie Mac Primary Mortgage Market Survey (PMMS) — Weekly average as of September 24, 2026
- Zillow Home Value Index (ZHVI), typical home value, all homes — Default home prices; typical value as of August 31, 2026
- FHFA 2026 Conforming Loan Limit Values (one-unit) — 2026 one-unit limits, 56 states & territories
- HUD FHA Mortgage Limits lookup — FHA floor $541,287; high-cost counties follow the conforming limit — confirm on HUD
- Effective statewide property tax rate (Tax Foundation, 2026 projections) — Statewide effective rate; county rates vary
- Average annual homeowners premium, $300K dwelling / $1K deductible (industry survey averages) — Statewide average premium
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.