New Jersey Mortgage Guide
Complete New Jersey mortgage guide with median home prices, property tax rates, denial rates, and down payment assistance programs for 2026.
In New Jersey, the median home price is $564,630 and median household income is $99,781. The mortgage denial rate for home purchases is 8.51% according to 2025 HMDA data. 3 down payment assistance programs are available, including NJHMFA Down Payment Assistance (Up to $15,000 (based on county) as an interest-free, 5-year forgivable second loan for first-time homebuyers.).
New Jersey at a Glance
Median prices based on 2025 FHFA data. Income from 2024 Census ACS. Denial rates from 2025 HMDA data.
Mortgage Calculator for New Jersey
Estimate your monthly payment with the interactive New Jersey mortgage calculator. Includes property taxes, mortgage insurance, and down payment assistance programs.
Open Calculator →Mortgage Denial Rates in New Jersey
In 2025 Home Mortgage Disclosure Act (HMDA) data for home purchases, New Jersey logged 122,406 final-action applications. The mortgage denial rate was 8.51% and the originated share was 66.19%.
These figures show aggregated market outcomes, not an individual buyer's approval odds. Use these figures as context, not a prediction.
Down Payment Assistance Programs in New Jersey
NJHMFA Down Payment Assistance
New Jersey Housing and Mortgage Finance Agency
Up to $15,000 (based on county) as an interest-free, 5-year forgivable second loan for first-time homebuyers.
NJHMFA First Generation DPA
NJHMFA
Additional $7,000-$10,000 in DPA for first-generation homebuyers, stacked on top of the standard DPA award (total up to $22,000).
HFA Advantage Mortgage
NJHMFA
30-year fixed-rate conventional loan with low down payment that can be combined with NJHMFA DPA.
New Jersey County Calculators
These calculators use local tax and benefit data for each county.
Denial: 8.28% · Tax: 2.10% · 1 DPA programs
Denial: 10.36% · Tax: 2.90% · 1 DPA programs
Denial: 10.28% · Tax: 2.20% · 1 DPA programs
Denial: 8.57% · Tax: 2.70% · 1 DPA programs
Denial: 9.51% · Tax: 2.30% · 1 DPA programs
Denial: 7.92% · Tax: 1.80% · 1 DPA programs
Denial: 7.65% · Tax: 1.90% · 1 DPA programs
Denial: 8.75% · Tax: 2.80% · 1 DPA programs
New Jersey City Calculators
These calculators include local taxes, closing costs, and assistance programs for each city.
New Jersey Mortgage FAQ
What is the median home price in New Jersey?
The median home price in New Jersey is approximately $565,000 as of 2025, based on FHFA housing price index data.
Does New Jersey have down payment assistance programs?
Yes. NJHMFA offers up to $15,000 in 5-year forgivable DPA, plus an additional $7,000-$10,000 for first-generation buyers (total up to $22,000).
What is the mortgage denial rate in New Jersey?
The statewide mortgage denial rate for home purchases in New Jersey is 8.51% based on 2025 HMDA data.
How do New Jersey property taxes compare to other states?
New Jersey has the highest property taxes in the nation, averaging around 2.26%, more than double the national average.