NJ — New Jersey
New Jersey Mortgage Guide
NYC metro counties have the highest conforming limits; property taxes among the highest in the US.
2024 Conforming Limit
$1,149,825
High-cost state
Avg 30yr Fixed Rate
7.10%
VA Friendly
No
First-Time Buyer Program
NJHMFA First-Time Homebuyer Mortgage
New Jersey offers down payment assistance (DPA) for qualifying buyers. Contact a participating lender or your state housing finance authority for current income limits and program availability.
Understanding Your Conforming Limit
The 2024 FHFA conforming loan limit for New Jersey is $1,149,825. Loans at or below this amount qualify as conforming loans, which typically carry lower interest rates and require less documentation than jumbo loans.
New Jersey is a high-cost area. Higher limits mean more buyers can access conventional conforming financing instead of jumbo loans, which often require larger down payments and stricter credit standards.
Popular Loan Types in New Jersey
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