VA Loan Calculator — New Jersey
An eligible VA borrower can buy the typical New Jersey home ($580,000) with no down payment. The 2.15% first-use funding fee ($12,470) is rolled into a $592,470 loan, and there is no monthly mortgage insurance — saving about $260 a month versus FHA MIP on the same home.
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
$4,981
Principal & Interest + Taxes + Insurance · no mortgage insurance
APR 7.242%
Total Interest
$830,850
Total Cost
$1,793,072
Advanced Parameters
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
N/A
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | PMI | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $47,444 | $5,984 | $41,460 | — | $586,486 | -$6,486 |
| Year 2 | $47,444 | $6,418 | $41,026 | — | $580,068 | -$68 |
| Year 3 | $47,444 | $6,884 | $40,560 | — | $573,184 | $6,816 |
| Year 4 | $47,444 | $7,384 | $40,060 | — | $565,800 | $14,200 |
| Year 5 | $47,444 | $7,920 | $39,524 | — | $557,880 | $22,120 |
| Year 6 | $47,444 | $8,495 | $38,949 | — | $549,385 | $30,615 |
| Year 7 | $47,444 | $9,112 | $38,332 | — | $540,273 | $39,727 |
| Year 8 | $47,444 | $9,774 | $37,670 | — | $530,499 | $49,501 |
| Year 9 | $47,444 | $10,483 | $36,961 | — | $520,016 | $59,984 |
| Year 10 | $47,444 | $11,245 | $36,199 | — | $508,771 | $71,229 |
| Year 11 | $47,444 | $12,061 | $35,383 | — | $496,710 | $83,290 |
| Year 12 | $47,444 | $12,937 | $34,507 | — | $483,773 | $96,227 |
| Year 13 | $47,444 | $13,876 | $33,568 | — | $469,897 | $110,103 |
| Year 14 | $47,444 | $14,884 | $32,560 | — | $455,014 | $124,986 |
| Year 15 | $47,444 | $15,964 | $31,480 | — | $439,049 | $140,951 |
| Year 16 | $47,444 | $17,124 | $30,320 | — | $421,926 | $158,074 |
| Year 17 | $47,444 | $18,367 | $29,077 | — | $403,559 | $176,441 |
| Year 18 | $47,444 | $19,700 | $27,743 | — | $383,859 | $196,141 |
| Year 19 | $47,444 | $21,131 | $26,313 | — | $362,728 | $217,272 |
| Year 20 | $47,444 | $22,665 | $24,779 | — | $340,062 | $239,938 |
| Year 21 | $47,444 | $24,311 | $23,133 | — | $315,752 | $264,248 |
| Year 22 | $47,444 | $26,076 | $21,368 | — | $289,675 | $290,325 |
| Year 23 | $47,444 | $27,970 | $19,474 | — | $261,706 | $318,294 |
| Year 24 | $47,444 | $30,000 | $17,444 | — | $231,705 | $348,295 |
| Year 25 | $47,444 | $32,179 | $15,265 | — | $199,527 | $380,473 |
| Year 26 | $47,444 | $34,515 | $12,929 | — | $165,012 | $414,989 |
| Year 27 | $47,444 | $37,021 | $10,423 | — | $127,990 | $452,010 |
| Year 28 | $47,444 | $39,710 | $7,734 | — | $88,281 | $491,719 |
| Year 29 | $47,444 | $42,593 | $4,851 | — | $45,688 | $534,312 |
| Year 30 | $47,446 | $45,688 | $1,758 | — | $0 | $580,000 |
VA Loan numbers for New Jersey
- Typical New Jersey home value
- $580,000
- 0% down ($0) · Zillow, August 31, 2026
- Loan amount
- $592,470
- Includes $12,470 financed funding fee
- Estimated monthly payment
- $4,981
- APR 7.242%
- New Jersey property tax
- 1.88%
- $909/mo
- Homeowners insurance
- $1,421/yr
- $118/mo
- VA funding fee (first use)
- 2.15% · $12,470
- Financed; exempt with VA disability compensation
- Monthly savings vs FHA MIP
- $260/mo
- Same $580,000 home, FHA at 3.5% down
How much house can you afford in New Jersey with a va loan?
Highest price where principal, interest, New Jersey property tax and insurance, with the 2.15% VA funding fee financed and no monthly mortgage insurance stay within 28% of gross income —0% 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 | $125,000 | $0 | 22% |
| $75,000 | $1,750 | $194,000 | $0 | 33% |
| $100,000 | $2,333 | $264,000 | $0 | 45% |
| $125,000 | $2,917 | $333,000 | $0 | 57% |
| $150,000 | $3,500 | $403,000 | $0 | 69% |
| $200,000 | $4,667 | $542,000 | $0 | 93% |
| $250,000 | $5,833 | $681,000 | $0 | 117% |
VA 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% |
Frequently asked questions
What is the monthly payment on a $580,000 home with a va loan in New Jersey?
Estimated $4,981 per month ($3,954 principal & interest, $909 property tax, $118 insurance) at 7.03% for 30 years, with 0% down. APR 7.242%.
How much is the VA funding fee on a $580,000 New Jersey home?
$12,470 (2.15%) for a first-time user with no down payment. Putting 5% down lowers it to 1.5%, and 10% down to 1.25%.
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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
- 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
- VA — Funding fee and closing costs
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.