How to use the New Jersey Mortgage calculator
- Enter your numbers. Fill in home price, down payment, down payment %, interest rate, loan term.
- Enter taxes, insurance & fees details. Fill in property tax / yr, home insurance / yr, HOA / month, PMI rate.
- Read your results. Results update instantly. The headline shows the estimated monthly payment; the breakdown and table below show the details.
New Jersey property taxes
Homeowners in New Jersey pay an average effective property tax rate of 1.77% of home value, #2 highest among the 50 states and DC and above the middle state (0.77%). On a $400,000 home that’s about $7,080 a year.
New Jersey consistently has among the highest effective property tax rates and the highest average property tax bills in the country, driven largely by school funding. The ANCHOR and Stay NJ programs provide property tax relief to many homeowners, so your net cost may be lower than the gross bill.
2026 loan limits in New Jersey
- Conforming (Fannie Mae/Freddie Mac): $832,750 for one unit, higher in designated high-cost counties up to $1,249,125. Larger loans are jumbo loans.
- FHA: $541,287 to $1,249,125 depending on county. See the FHA loan calculator.
Example monthly payments in New Jersey
| Home price | Principal & interest | Property tax / mo | Total with $125/mo insurance |
|---|---|---|---|
| $250,000 | $1,264 | $369 | $1,758 |
| $400,000 | $2,023 | $590 | $2,738 |
| $600,000 | $3,034 | $885 | $4,044 |
20% down, 6.5% fixed for 30 years, no PMI or HOA. The interest rate is an example; use a current quote.
Worked example
With these inputs: home price $400,000; down payment $80,000; down payment % 20%; interest rate 6.5%; loan term 30y; property tax / yr $7,080; home insurance / yr $1,500; PMI rate (if under 20% down) 0.5%.
The calculator gives an estimated monthly payment of $2,738. Other results: loan amount $320,000, total interest $408,142, total of P&I payments $728,142, payoff date Oct 2056.
What your results mean
The payment includes principal and interest plus New Jersey property tax (preset to $7,080 a year, the statewide 1.77% average on a $400,000 home), insurance and any PMI or HOA. Replace the tax with your county’s figure for a closer estimate.
Tips
- Look up your county assessor’s rate; New Jersey rates vary widely by location.
- Get homeowners insurance quotes; the $1,500 default is only an example, not a state average.
- Compare other states: New Mexico, New York, North Carolina, North Dakota.
Frequently asked questions
What is the property tax rate in New Jersey?
The average effective rate on owner-occupied homes is about 1.77% of home value (2023 Census ACS data via the Tax Foundation), ranking #2 highest of 50 states and DC. Rates vary by county and city.
What is the monthly payment on a $400,000 house in New Jersey?
About $2,738 a month with 20% down at 6.5% for 30 years: $2,023 principal and interest, $590 property tax and $125 insurance (example insurance amount).
What is the 2026 conforming loan limit in New Jersey?
$832,750 for a one-unit home in most counties, up to $1,249,125 in designated high-cost areas.
What is the FHA loan limit in New Jersey for 2026?
Between $541,287 (floor) and $1,249,125 (high-cost ceiling) for a one-unit home, depending on the county.
How much is property tax on a $300,000 home in New Jersey?
About $5,310 a year ($443 a month) at the statewide average effective rate.
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