Quick Answer — New Jersey Refinancing
4 things NJ homeowners must know before refinancing: (1) Attorney closing is mandatory — budget $1,000–$1,800. (2) No mortgage recording tax (unlike New York). (3) Property taxes average 2.23% — that's $800–$1,300+/month added to your escrow payment on a typical NJ home. (4) Most NYC-area counties qualify for $1,149,825 high-cost conforming limits. A $600,000 Bergen County loan saving 0.75% breaks even in ~50 months. See how we calculate all estimates.
New Jersey Mortgage Market Snapshot (2025)
Key metrics for New Jersey homeowners evaluating a refinance. Sources: FHFA, NAR, NJ Division of Taxation, Tax Foundation.
New Jersey's 2.23% effective property tax rate is second only to Illinois nationally. On a $520,000 median home, annual taxes average $11,596 ($966/month through escrow) — a figure that dwarfs the P&I change from most refinances and must be included in any full payment comparison. The +6.2% YoY price growth is the strongest among Tier 1 states, driven by NYC commuter suburb demand, limited inventory, and migration from higher-cost NYC neighborhoods. No mortgage recording tax keeps closing costs below New York; the $10,400 average reflects mandatory attorney fees ($1,000–$1,800) and origination charges on large loan balances. Bergen, Passaic, and Essex counties adjacent to NYC carry the $1,149,825 high-cost conforming limit.
Refinancing in New Jersey: Property Taxes Change Every Calculation
New Jersey homeowners confront a refinance landscape unlike almost any other state. The single biggest factor is property taxes: New Jersey consistently holds the highest effective property tax rates in the United States, typically running 1.9%–2.5% of a home's assessed value. On a $500,000 home, that means $9,500–$12,500 per year flowing through your escrow account — or $792–$1,042 added to your monthly payment on top of principal and interest. That escrow burden fundamentally shapes what your payment looks like before and after a refinance.
This is not a minor footnote. When a lender quotes you a monthly payment on a refinanced loan, the P&I figure reflects only the principal and interest. In New Jersey, you must mentally add roughly $800–$1,050 per month for the average-priced home just to cover the property tax escrow. On a $700,000 Bergen County home at a 2.1% effective tax rate, that escrow line alone is $1,225 per month. Understanding your true all-in payment after refinancing is essential before deciding whether to proceed.
On the positive side, New Jersey does not charge a separate mortgage recording tax. Standard county recording fees of $100–$300 are the only recording costs — a significant advantage over neighboring New York, where the recording tax can add $10,000–$30,000 to a refinance. New Jersey's closing costs are still substantial, driven primarily by the mandatory attorney fee and origination charges, but the absence of a recording tax makes the break-even analysis more favorable than in New York for similarly sized loans.
New Jersey is also an attorney-close state: every mortgage closing, including refinances, requires a licensed real estate attorney. This adds $1,000–$1,800 to your closing costs as a mandatory expense. With both mandatory attorney fees and high-balance loans typical of the NYC suburbs, understanding NJ's full closing cost picture is critical before running any break-even calculation.
New Jersey Property Taxes: The Escrow Calculation You Must Do First
Before running any refinance numbers, New Jersey homeowners need to pull their actual property tax bill. The effective tax rate varies county by county and even town by town, but the statewide averages are the highest in the nation. Here is what that looks like across different parts of the state:
- Bergen County (Teaneck, Hackensack, Ridgewood, Fort Lee): Effective rates typically 1.8%–2.3%. On a $700,000 home: $12,600–$16,100 per year, or $1,050–$1,342/month in escrow.
- Morris County (Parsippany, Morristown, Madison): 1.9%–2.4% effective. On a $650,000 home: $12,350–$15,600/year, or $1,029–$1,300/month.
- Middlesex County (Edison, New Brunswick, Woodbridge): 2.0%–2.5% effective. On a $550,000 home: $11,000–$13,750/year, or $917–$1,146/month.
- Monmouth County (Red Bank, Freehold, Middletown): 1.7%–2.2% effective. On a $600,000 home: $10,200–$13,200/year, or $850–$1,100/month.
- South Jersey (Camden, Burlington, Salem counties): More affordable homes in the $250,000–$400,000 range, but effective tax rates can still be 2.0%–3.0% in some municipalities — offsetting the lower price advantage.
When refinancing, your lender will recalculate your escrow account based on the current annual tax bill. If your taxes have increased since you last refinanced or purchased, your new monthly payment will reflect that increase. This is why NJ homeowners sometimes feel surprised when a refinance does not lower their payment as much as expected — the P&I savings can be partially offset by higher escrow obligations. Always compare the total monthly payment including escrow, not just the P&I line, when evaluating your refinance options.
New Jersey Tax Profile for Homeowners
New Jersey has the highest effective property tax rate in the United States — approximately 2.49%. On the statewide median home value of roughly $520,000, annual property taxes average $12,948. In premium North Jersey suburbs of New York City (Ridgewood, Summit, Montclair, Short Hills), annual property tax bills of $20,000–$30,000 are common on $800,000–$1,000,000 homes. This staggering property tax burden is the single most important financial factor for any New Jersey homeowner to understand before refinancing, as it can dwarf the P&I payment on the mortgage.
New Jersey also has a high state income tax with a top rate of 10.75% on income over $1 million (graduated from 1.4% at lower income levels; effective rate for most homeowners is 6%–7%). Combined state and local taxes in New Jersey are among the highest in the country, which reduces net take-home but also means homeowners can deduct substantial state taxes on federal returns (subject to SALT cap).
New Jersey does not impose a dedicated mortgage recording tax on refinances. There is a Realty Transfer Fee (RTF) on property sales, but refinances are not sales and are not subject to the RTF. Recording fees at the county clerk's office for a new mortgage are modest ($30–$80). This is one of the few areas where New Jersey's refinance costs are lighter than some comparable states.
Attorney Requirements at Closing in New Jersey
New Jersey has one of the strongest attorney-closing cultures in the country. By strong bar convention and lender practice, both the buyer and the lender (and seller, in purchases) are typically represented by their own attorneys. Attorney involvement in New Jersey real estate transactions is deeply ingrained — for purchase transactions, there is a formal "attorney review" period (3 business days after contract execution) during which either party's attorney can disapprove the contract. For refinances, the borrower's attorney reviews closing documents and the lender's attorney handles settlement.
New Jersey attorney fees for a refinance closing vary but typically run $700–$1,200 for the borrower's attorney (if you choose one) plus the lender's attorney fees. Some New Jersey refinances proceed with only lender's counsel, particularly for streamline refinances. Ask your lender at the outset whether they require or expect borrower attorney representation and factor the cost in.
New Jersey's attorney-heavy closing culture means refinance timelines can run 35–50 days due to attorney scheduling and coordination. Plan ahead, particularly in spring and fall when the NJ real estate market is most active.
Refinance Laws and Mortgage Framework in New Jersey
New Jersey uses the mortgage instrument as its security device for real estate loans. New Jersey requires judicial foreclosure, which is conducted through its Superior Court (Chancery Division). New Jersey's judicial foreclosure process is one of the longest in the United States, with timelines regularly running 2–5 years from first missed payment to completed foreclosure. The state's court backlog and extensive procedural requirements (including mandatory mediation for homestead properties in many cases) contribute to these extended timelines.
New Jersey's long foreclosure process is a double-edged sword: it provides borrowers facing default with an extended period to pursue loss mitigation, loan modifications, or other alternatives, but it also results in higher carrying costs for lenders, which may be partly reflected in NJ mortgage pricing.
New Jersey is not a community property state. There are no New Jersey-specific constitutional restrictions on cash-out refinancing. Standard federal guidelines apply. For cash-out refinances, the elevated property taxes in NJ mean that lenders carefully scrutinize DTI on the post-refinance total payment, since the property tax component alone can push ratios above standard thresholds on high-value properties.
New Jersey Home Values and Loan Sizing
New Jersey's housing market is sharply bifurcated between the ultra-premium NYC-suburban corridor in the northeast and the more moderate-to-affordable central and southern markets. Bergen, Morris, Somerset, Monmouth, and Middlesex counties contain the state's most sought-after communities, where median prices frequently reach $600,000–$900,000. Atlantic City and South Jersey offer significantly more affordable options.
| Market | Approx. Median Value | Notes |
|---|---|---|
| Bergen County (Ridgewood, Paramus, Fort Lee) | ~$700,000 | NYC proximity; highest prices |
| Monmouth County (Red Bank, Rumson) | ~$700,000 | Shore premium; NYC commuter |
| Morris / Somerset (Morristown, Basking Ridge) | ~$650,000 | Corporate HQ corridor |
| Central NJ (Edison, Princeton) | ~$450,000 | Research corridor; biotech/pharma |
| South Jersey (Camden area, Atlantic County) | ~$280,000–$350,000 | More affordable; Philly metro |
Many northern New Jersey properties fall within or approach FHFA high-cost conforming limits. The extraordinary property taxes mean you must include them in every payment comparison. On a $650,000 Morris County home with $16,000 annual taxes, the escrow tax component alone is $1,333 per month — more than the P&I on many loans. A refinance saving $300 in P&I may feel modest in the context of a $4,000+ total monthly payment.
Attorney-Close Requirements and Closing Costs in New Jersey
New Jersey is an attorney-close state. Every mortgage refinance closing must be supervised by a licensed New Jersey real estate attorney — there is no option to close with a title company alone as in many other states. This is a statutory requirement that applies universally across the state.
Attorney fees for a standard NJ refinance closing typically run $1,000–$1,800. Closings in the NYC metro counties (Bergen, Hudson, Union, Essex) often trend toward the higher end of this range or above it. You have the legal right to choose your own attorney — you are not required to use the attorney the lender or title company recommends. For a straightforward rate-and-term refinance, many borrowers are comfortable using a closing attorney recommended by their title company. For a cash-out refinance, a subordination of a HELOC, or any transaction with title complications, hiring your own independent attorney is advisable.
New Jersey does not charge a state mortgage recording tax, which is a meaningful distinction from neighboring New York. However, NJ does charge standard county recording fees. Here is a full breakdown of expected closing costs on a New Jersey refinance:
Estimated Closing Costs — New Jersey Refinance
On a $600,000 loan — typical for Bergen or Morris County — total closing costs can easily reach $12,000–$18,000. That is a substantial upfront investment that your monthly interest savings must overcome before you break even. The good news: NJ's large loan balances mean that even a 0.5% rate drop produces meaningful dollar savings per month. Run the numbers before assuming the closing costs make a refinance impractical.
One important note: New Jersey's "mansion tax" — a 1% tax on residential property sales over $1 million — applies only to purchases, not to refinances. You will not owe the mansion tax when refinancing, regardless of your home's value.
Loan Limits, Home Values, and Break-Even Scenarios
New Jersey's proximity to New York City drives some of the highest home values in the country, particularly in the northern and central counties. Many NJ borrowers are NYC commuters with high incomes and large loan balances — making them strong refinance candidates when rates shift meaningfully.
FHFA high-balance conforming loan limits apply in most NJ counties near NYC, with limits up to $1,089,300 for single-family homes in designated high-cost areas. Borrowers within these limits can access conforming rates rather than jumbo pricing — a significant advantage given the high home values in counties like Bergen, Morris, and Essex.
Here is a concrete break-even scenario for a typical NJ borrower:
Example: Bergen County Refinance Scenario
P&I savings only. Does not include property tax escrow changes. No state mortgage recording tax in NJ. Attorney fee of ~$1,300 included in closing cost estimate.
For a homeowner with a long-term horizon — planning to stay in their NJ home for six or more years — a break-even of 50 months is very achievable. For someone planning to sell within three years, the math is less favorable. The key variable specific to New Jersey: because there is no recording tax, the break-even period is considerably shorter than it would be for the same loan balance in New York City.
Example: South Jersey Borrower (Camden / Burlington County)
If this borrower also removes FHA MIP by refinancing to conventional (~$133/month), combined savings reach ~$316/month — cutting break-even to under 2 years. Use the PMI/MIP removal calculator to model this.
Example: Short Hills / Summit Jumbo Loan (Morris / Union County)
Jumbo pricing — higher attorney fee (~$1,800) and appraisal (~$900). A 6+ year horizon is needed to break even. Collect at least 3 quotes; even a 0.125% rate difference on a $920K loan changes monthly savings by ~$75. Use the offer comparison calculator before deciding.
10 Frequently Asked Questions: New Jersey Mortgage Refinancing
Does New Jersey require an attorney at mortgage closing?
Yes. NJ is an attorney-close state. A licensed real estate attorney must supervise every refinance closing — there is no option to close with just a title company as in most other states. Budget $1,000–$1,800 for attorney fees. You choose your own attorney; you are not required to use the one the lender recommends.
For a straightforward rate-and-term refinance, the lender's title company attorney is generally fine. For a cash-out transaction, HELOC subordination, or any transaction with title complications, hiring your own independent attorney provides an important extra layer of protection.
How do New Jersey property taxes affect my refinance payment?
NJ has the highest effective property tax rates in the US — averaging 2.23% statewide. On a $500,000 home that's $9,500–$12,500/year, adding $792–$1,042 per month to your escrow. When refinancing, your lender recalculates escrow based on your current annual tax bill.
If taxes have risen since your last loan, your new total monthly payment may not drop as much as the P&I savings alone suggest. Always pull your current annual tax bill first, and compare total payment to total payment — not just P&I to P&I. On a Bergen County $700K home, the escrow tax component alone can exceed $1,200/month.
Does New Jersey charge a mortgage recording tax?
No. Unlike New York or Florida, New Jersey does not charge a state mortgage recording tax on refinances. Standard county recording fees of $100–$300 apply. This is a meaningful cost advantage over neighboring New York, where the recording tax can add $10,000–$30,000 on a comparable loan balance.
NJ closing costs are still substantial — driven by the mandatory attorney fee and origination charges — but the absence of a recording tax makes the break-even timeline considerably shorter than in New York for the same loan size.
Is refinancing in NJ worth it despite high closing costs?
It depends on your loan balance, rate drop, and how long you plan to stay. NJ's large loan balances in the NYC suburbs mean even a 0.5%–0.75% rate drop produces $200–$300+ per month in P&I savings. With no recording tax, the break-even is often 3–5 years — very achievable for most NJ homeowners.
The three inputs that determine the answer: (1) your rate drop, (2) your loan balance, and (3) your time horizon. Use the break-even calculator with your actual numbers. For South Jersey borrowers with smaller balances (~$300K), the dollar savings are lower but so are closing costs — the math often still works on a 3–4 year horizon.
What is the conforming loan limit in New Jersey high-cost counties?
Most NJ counties near NYC — Bergen, Essex, Hudson, Middlesex, Monmouth, Morris, Passaic, Somerset, Sussex, Union, and Warren — qualify for FHFA high-cost conforming limits of $1,149,825 for single-family homes. Loans within this limit access conforming rates rather than jumbo pricing, saving 0.25%–0.50% in rate — a substantial difference on large balances.
Standard counties (Burlington, Camden, Cape May, Cumberland, Gloucester, Ocean, Salem, Atlantic, Hunterdon, Mercer) are at the $766,550 standard limit. If your balance falls just above the conforming limit, paying down slightly before refinancing may qualify you for a significantly better rate.
How long does a refinance take in New Jersey?
New Jersey refinances typically take 35–50 days from application to closing. The mandatory attorney review process and attorney scheduling add 5–10 days compared to title-company-only states. Allow extra time in spring and fall when the NJ real estate market is most active and attorneys are in highest demand.
To minimize delays: gather your documents (2 years tax returns, 30 days pay stubs, 2 months bank statements, current mortgage statement) before submitting your application, and confirm attorney availability early.
Can I roll closing costs into my refinance in New Jersey?
Yes, if your LTV allows it. You can add closing costs to your new loan balance as long as the resulting LTV stays within program limits — typically 80% for conventional, 97.75% for FHA. Alternatively, many lenders offer a no-closing-cost option where they absorb fees in exchange for a rate 0.25%–0.375% higher.
Rolling costs in extends your break-even point slightly but preserves cash. Use the refinance cost calculator to compare paying costs upfront vs. rolling them in vs. a no-closing-cost option.
What credit score do I need to refinance in New Jersey?
For a conventional refinance, most lenders require a minimum 620 credit score, though the best rates go to borrowers at 740+. A 40-point difference (680 vs. 720) can affect your rate by 0.25%–0.50% — on a $600K NJ loan, that's $75–$150/month.
FHA Streamline and VA IRRRL refinances are more lenient — typically no minimum credit score requirement if you have a history of on-time payments on your current loan. Check your credit report at annualcreditreport.com before applying. See the credit score impact guide for details.
Does New Jersey have any cash-out refinance restrictions?
No state-level restrictions. Unlike Texas, New Jersey has no constitutional limits on cash-out refinancing. Standard federal guidelines apply: 80% maximum LTV for conventional cash-out, 85% for FHA cash-out.
One practical NJ-specific caution: high property taxes mean lenders scrutinize DTI closely on post-refinance total payments. Property tax escrow alone can push payment-to-income ratios above guideline thresholds on high-value properties. Get a pre-qualification that models your full PITI before proceeding with a cash-out refinance.
Does the NJ mansion tax apply when I refinance?
No. New Jersey's mansion tax — a 1% tax on residential property sales over $1 million — applies only to purchase transactions. A refinance is not a sale, so the mansion tax does not apply regardless of your home's value.
Similarly, the Realty Transfer Fee (RTF) that applies to property sales does not apply to refinances. The only NJ-specific cost for a refinance is the mandatory attorney fee and standard county recording fees.
How to Use the Calculator for a New Jersey Loan
The RefinanceUSA calculator returns monthly P&I savings and break-even from your loan balance, current rate, new rate, and total closing costs. For a New Jersey refinance, use these inputs:
Attorney fee: New Jersey requires a licensed attorney at every mortgage closing. Attorney fees typically add $600–$1,000 to closing costs. Confirm the fee is clearly itemized in your lender's Loan Estimate before entering the closing cost total into the calculator.
State tax note: New Jersey has a mansion tax (1% of purchase price above \ million) applies to purchases, not refinances — no state mortgage recording tax on refinances in NJ. Add this to your lender's base closing cost estimate before entering the total.
Break-Even Example — Newark Area, $430,000 Loan
Homeowners planning to stay 6+ years in the Newark area typically find a 0.875% rate drop worthwhile at this loan size.
P&I vs. total payment: The calculator produces principal-and-interest savings only. Add your monthly property tax escrow (annual bill ÷ 12) and homeowner’s insurance (÷ 12) to estimate your true total payment change. These components do not change with refinancing unless your insurance premium is re-evaluated at the new loan closing.
For the full refinancing process, see the 10-step refinance guide. To evaluate whether your rate drop justifies the closing costs, see the 1% refinance rule. Not sure if you're ready? Run the refinance readiness assessment first. All estimates on this page use standard amortization formulas — see our methodology for details.
New Jersey Housing Market Trends (2025)
New Jersey is experiencing one of the most competitive housing markets in the country — in sharp contrast to the national narrative of slowing demand. The state has among the lowest housing inventory levels in decades: months of supply in Bergen and Morris counties dropped below 1.5 in multiple 2024 months, compared to a balanced market of 4–6 months. The structural drivers are durable: NJ's location between New York City and Philadelphia makes it one of the most desirable commuter states, and its housing stock is predominantly older single-family homes with very limited new residential construction.
Metro-Level Trends
- Bergen / Essex / Morris / Union Counties (NYC commuter core): Most competitive markets in the state. Bidding wars have returned for well-located properties in strong school districts. NYC metro employment (financial services, media, tech) is the primary demand driver, supplemented by NJ's pharmaceutical corridor (Merck, Johnson & Johnson, Novartis, Bristol-Myers Squibb).
- Monmouth / Ocean Counties (Shore area): Strong demand from NYC buyers seeking beach access and second-home use. Post-Sandy (2012) price recovery is fully complete; values have more than recovered. Flood insurance costs are an increasingly material ownership variable for FEMA flood-zone properties, particularly after Risk Rating 2.0 raised premiums for some Shore properties.
- Middlesex / Somerset / Hunterdon Counties (Route 1 / 287 corridor): Pharmaceutical and healthcare sector employment (J&J New Brunswick, Sanofi, Bristol-Myers Squibb Lawrenceville) drives demand in this central NJ corridor. Princeton Borough and township carry a permanent academic and biotech premium.
- Camden / Burlington / Gloucester Counties (South Jersey): Most affordable region; benefits from Philadelphia's proximity. Cooper University Health System and Virtua Health are large local employers. Delaware River port activity supports blue-collar employment.
For refinancers: New Jersey's property tax rate varies dramatically by municipality — Bergen County municipal rates range from approximately 1.7% to over 3.2%. Confirm your exact current property tax bill with your county assessor before modeling refinance savings. In high-tax NJ communities, the escrow component of PITI is often as large as the P&I payment itself, making an accurate tax figure critical to any meaningful break-even analysis.
Refinance Rates in New Jersey
Most New Jersey counties near New York City — Bergen, Essex, Hudson, Middlesex, Monmouth, Morris, Passaic, Somerset, Sussex, Union, and Warren — qualify for FHFA high-cost conforming loan limits of approximately $1,149,825. This is a major advantage for NJ borrowers: loans up to this limit access conforming rather than jumbo rates, saving 0.25%–0.50% even at high loan balances. Standard NJ counties (Burlington, Camden, Cape May, Cumberland, Gloucester, Ocean, Salem, Atlantic, Hunterdon, Mercer) are at the $766,550 standard limit. New Jersey HMFA (njhmfa.gov) administers state housing finance programs.
New Jersey Housing and Mortgage Finance Agency
NJHMFA offers programs at njhmfa.gov. The NJ HomeSeeker and related programs primarily assist first-time buyers; existing NJHMFA borrowers should contact the agency directly to confirm any available refinance options and restrictions.
Rate Context by Loan Type
| Loan Type | Rate vs. National Avg. | New Jersey Notes |
|---|---|---|
| 30-yr conventional (conforming) | Tracks PMMS average | Highly competitive in Bergen and Morris counties; no recording tax improves economics vs. NY |
| VA IRRRL | 0.25%–0.50% below conventional | Joint Base McGuire-Dix-Lakehurst is primary military installation; no appraisal or income verification required in most cases |
| FHA Streamline | Tracks FHA market | Active in Camden, Trenton, and South Jersey markets; no appraisal required, minimal credit check, can reduce MIP if original FHA loan predates 2015 |
| Jumbo (>$1,149,825 in high-cost counties) | 0.25%–0.50% above conforming | Short Hills, Summit, Rumson luxury; attorney-close adds to timeline and cost |
For real-time rate comparisons, use the CFPB rate explorer filtered to New Jersey and your loan size.
Credit Union Mortgage Lenders in New Jersey
New Jersey's credit union landscape is smaller than neighboring New York's, but NJ credit unions often offer competitive mortgage and refinance rates with the personalized service of a member-owned institution. The Credit Union of New Jersey (Ewing) and several others serve broad membership pools. NJ residents may also access PenFed and Navy Federal if they qualify through military or government affiliation, which frequently offer the most competitive rates in the market.
| Credit Union | Region | Membership Notes |
|---|---|---|
| Credit Union of New Jersey | Ewing / statewide | Open to NJ state employees and many Mercer County residents |
| Jersey Shore Federal Credit Union | Shore / South NJ | Ocean County area; open to local residents and employer groups |
| Rutgers Federal Credit Union | New Brunswick | Rutgers University employees, students, and alumni |
| XCEL Federal Credit Union | Bloomfield / North NJ | Open to residents of several North Jersey counties |
| PenFed (Pentagon Federal) | Nationwide (McLean, VA HQ) | Now open to all US residents; consistently competitive mortgage rates nationwide |
Credit unions do not publish rate sheets publicly — request a pre-qualification to get a rate. Use the break-even calculator first, then collect quotes from at least one credit union and two other lenders.
Related Guides
- How to Calculate Your Refinance Break-Even Point
- Mortgage Refinance Closing Costs: Every Fee Explained
- How Much Can You Save by Refinancing?
- Cash-Out Refinance Calculator Guide
- How to Compare Refinance Offers Side by Side
- The 10-Step Mortgage Refinance Process
- Refinance Situations: When It Makes Sense
- Mortgage Refinance Glossary
- Refinance Rules by State
- New York Refinance Guide — neighboring state with mortgage recording tax up to 1.925%; CEMA strategy explained
- Pennsylvania Refinance Guide — neighboring attorney-close state with deed transfer taxes
- Connecticut Refinance Guide — neighboring attorney-required state
- The Best Time to Refinance in 2026
- How to Estimate Your New Mortgage Payment
- Mortgage Refinancing: The Complete Guide
- Refinance Break-Even Calculator
- PMI Removal Calculator
Calculate Your New Jersey Refinance Break-Even
Use the free RefinanceUSA calculator to estimate your monthly P&I savings and break-even point. Remember to add your actual NJ property tax escrow to your total payment estimate — and note that New Jersey has no mortgage recording tax, keeping your closing costs lower than neighboring New York.
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Free Tools for New Jersey Homeowners
Sources & References
- Consumer Financial Protection Bureau (CFPB) — Explore Mortgage Rates
- Freddie Mac Primary Mortgage Market Survey (PMMS)
- Federal Housing Finance Agency (FHFA) — Conforming Loan Limits
- IRS Publication 936 — Home Mortgage Interest Deduction
- U.S. Department of Housing and Urban Development (HUD) — FHA Loan Programs
- New Jersey Division of Taxation — Realty Transfer Fee
- NJ Division of Consumer Affairs — Real Estate Regulation