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Wait, what? It's true... relative home affordability improved in the third quarter of 2024 in a majority of the nation's housing markets. Was yours one of them?

Wait, what? It's true... relative home affordability improved in the third quarter of 2024 in a majority of the nation's housing markets. Was yours one of them?

Current FHA Mortgage Rates in NJ - New Jersey FHA mortgage

New Jersey Mortgages

2024 FHA Loan Limits for New Jersey

FHA Loans are government insured mortgages from the Federal Housing Administration and are an attractive option for homebuyers with small down payments or who have less-than-stellar credit. An FHA-backed loan can also be attractive to homeowners who want to refinance.

FHA mortgages are backed by a self-insuring pool to limit risks for the lenders who make these low downpayment loans. Homebuyers or homeowners looking to refinance can borrow with as little as a 3.5% downpayment or equity stake.

Learn more about FHA loans or calculate FHA loan costs and compare FHA loans against conventional low-downpayment mortgage programs.

FHA loan limits are different than those for conventional mortgages, as they use a formula based on median home prices; as such, FHA loan limits are reset each year, and vary from county to county in each state. The 2024 FHA loan limits for each county in New Jersey are below.

Select County
County Name One Family Two Family Three Family Four Family
Atlantic One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Bergen One Family$1,149,825 Two Family$1,472,250 Three Family$1,779,525 Four Family$2,211,600
Burlington One Family$557,750 Two Family$714,000 Three Family$863,100 Four Family$1,072,600
Camden One Family$557,750 Two Family$714,000 Three Family$863,100 Four Family$1,072,600
Cape May One Family$557,750 Two Family$714,000 Three Family$863,100 Four Family$1,072,600
Cumberland One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Essex One Family$1,149,825 Two Family$1,472,250 Three Family$1,779,525 Four Family$2,211,600
Gloucester One Family$557,750 Two Family$714,000 Three Family$863,100 Four Family$1,072,600
Hudson One Family$1,149,825 Two Family$1,472,250 Three Family$1,779,525 Four Family$2,211,600
Hunterdon One Family$1,149,825 Two Family$1,472,250 Three Family$1,779,525 Four Family$2,211,600
Mercer One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Middlesex One Family$1,149,825 Two Family$1,472,250 Three Family$1,779,525 Four Family$2,211,600
Monmouth One Family$1,149,825 Two Family$1,472,250 Three Family$1,779,525 Four Family$2,211,600
Morris One Family$1,149,825 Two Family$1,472,250 Three Family$1,779,525 Four Family$2,211,600
Ocean One Family$1,149,825 Two Family$1,472,250 Three Family$1,779,525 Four Family$2,211,600
Passaic One Family$1,149,825 Two Family$1,472,250 Three Family$1,779,525 Four Family$2,211,600
Salem One Family$557,750 Two Family$714,000 Three Family$863,100 Four Family$1,072,600
Somerset One Family$1,149,825 Two Family$1,472,250 Three Family$1,779,525 Four Family$2,211,600
Sussex One Family$1,149,825 Two Family$1,472,250 Three Family$1,779,525 Four Family$2,211,600
Union One Family$1,149,825 Two Family$1,472,250 Three Family$1,779,525 Four Family$2,211,600
Warren One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350

Mortgage Rates by State

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