FHA Loan Calculator — New Jersey
On the typical New Jersey home ($580,000), 3.5% down leaves a $559,700 base loan. The 1.75% upfront premium ($9,795) is financed, for a $569,495 loan, and annual MIP of 0.55% adds $260 a month for the life of the loan. New Jersey FHA limits run $541,287–$1,209,750 by county.
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.
Loan Parameters
Total Monthly Payment
$5,087
Principal & Interest + Taxes + Insurance
APR 7.761%
Total Interest
$798,632
Total Cost
$1,800,361
Advanced Parameters
FHA Mortgage Insurance Premium (MIP)
Annual MIP of 0.55% is billed monthly on the average balance of each loan year. With less than 10% down it lasts for the life of the loan; with 10% or more down it ends after 11 years. A 1.75% upfront premium is also added to the loan.
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
Full term
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | MIP | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $45,604 | $5,752 | $39,853 | $3,118 | $563,743 | $16,257 |
| Year 2 | $45,604 | $6,169 | $39,435 | $3,085 | $557,574 | $22,426 |
| Year 3 | $45,604 | $6,617 | $38,987 | $3,050 | $550,957 | $29,043 |
| Year 4 | $45,604 | $7,098 | $38,506 | $3,013 | $543,859 | $36,141 |
| Year 5 | $45,604 | $7,613 | $37,991 | $2,972 | $536,246 | $43,754 |
| Year 6 | $45,604 | $8,166 | $37,438 | $2,929 | $528,081 | $51,920 |
| Year 7 | $45,604 | $8,759 | $36,845 | $2,883 | $519,322 | $60,678 |
| Year 8 | $45,604 | $9,395 | $36,209 | $2,833 | $509,927 | $70,073 |
| Year 9 | $45,604 | $10,077 | $35,527 | $2,780 | $499,850 | $80,150 |
| Year 10 | $45,604 | $10,808 | $34,796 | $2,722 | $489,042 | $90,958 |
| Year 11 | $45,604 | $11,593 | $34,011 | $2,661 | $477,449 | $102,551 |
| Year 12 | $45,604 | $12,435 | $33,169 | $2,595 | $465,014 | $114,986 |
| Year 13 | $45,604 | $13,338 | $32,266 | $2,524 | $451,676 | $128,324 |
| Year 14 | $45,604 | $14,306 | $31,298 | $2,449 | $437,369 | $142,631 |
| Year 15 | $45,604 | $15,345 | $30,259 | $2,367 | $422,024 | $157,976 |
| Year 16 | $45,604 | $16,459 | $29,145 | $2,280 | $405,565 | $174,435 |
| Year 17 | $45,604 | $17,655 | $27,950 | $2,187 | $387,910 | $192,090 |
| Year 18 | $45,604 | $18,936 | $26,668 | $2,086 | $368,974 | $211,026 |
| Year 19 | $45,604 | $20,311 | $25,293 | $1,979 | $348,663 | $231,337 |
| Year 20 | $45,604 | $21,786 | $23,818 | $1,863 | $326,876 | $253,124 |
| Year 21 | $45,604 | $23,368 | $22,236 | $1,740 | $303,508 | $276,492 |
| Year 22 | $45,604 | $25,065 | $20,539 | $1,607 | $278,443 | $301,557 |
| Year 23 | $45,604 | $26,885 | $18,719 | $1,464 | $251,559 | $328,441 |
| Year 24 | $45,604 | $28,837 | $16,767 | $1,312 | $222,722 | $357,278 |
| Year 25 | $45,604 | $30,931 | $14,673 | $1,148 | $191,791 | $388,209 |
| Year 26 | $45,604 | $33,177 | $12,427 | $972 | $158,614 | $421,386 |
| Year 27 | $45,604 | $35,586 | $10,019 | $784 | $123,029 | $456,971 |
| Year 28 | $45,604 | $38,169 | $7,435 | $582 | $84,859 | $495,141 |
| Year 29 | $45,604 | $40,941 | $4,663 | $365 | $43,918 | $536,082 |
| Year 30 | $45,609 | $43,918 | $1,690 | $132 | $0 | $580,000 |
FHA Loan numbers for New Jersey
- Typical New Jersey home value
- $580,000
- 3.5% down ($20,300) · Zillow, August 31, 2026
- Loan amount
- $569,495
- Includes $9,795 financed UFMIP
- Estimated monthly payment
- $5,087
- APR 7.761%
- New Jersey property tax
- 1.88%
- $909/mo
- Homeowners insurance
- $1,421/yr
- $118/mo
- Upfront MIP (1.75%)
- $9,795
- Financed into the loan
- Annual MIP
- 0.55%
- $260/mo in year 1 · life of loan
- New Jersey FHA loan limit
- $541,287 – $1,209,750
- One-unit, by county
How much house can you afford in New Jersey with an fha loan?
Highest price where principal, interest, New Jersey property tax, insurance and FHA mortgage insurance (1.75% upfront premium financed, 0.55% annual MIP) stay within 28% of gross income —3.5% 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 |
|---|---|---|---|---|
| $40,000 | $933 | $95,000 | $3,325 | 16% |
| $50,000 | $1,167 | $122,000 | $4,270 | 21% |
| $60,000 | $1,400 | $149,000 | $5,215 | 26% |
| $75,000 | $1,750 | $190,000 | $6,650 | 33% |
| $100,000 | $2,333 | $258,000 | $9,030 | 44% |
| $125,000 | $2,917 | $326,000 | $11,410 | 56% |
| $150,000 | $3,500 | $394,000 | $13,790 | 68% |
FHA vs other loan types 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 payment on a $580,000 home with an fha loan in New Jersey?
Estimated $5,087 per month ($3,800 principal & interest, $909 property tax, $118 insurance, $260 FHA mortgage insurance) at 7.03% for 30 years, with 3.5% down. APR 7.761%.
What is the FHA loan limit in New Jersey for 2026?
Between $541,287 and $1,209,750 depending on the county for a one-unit home. $541,287 is the national FHA floor; counties with higher home prices get higher limits. Check your exact county on HUD's FHA mortgage limits lookup.
Explore related calculators
Compare in New Jersey
FHA Loan calculator in nearby states
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
- HUD Mortgagee Letter 2023-05 (annual MIP schedule)
- HUD — FHA single family housing policy handbook 4000.1
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.