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Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
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Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Requires veteran or military eligibility
Loan amount is under conforming limits
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 6.810%APR 6.843% | 0 pts$0 | $4,233/moP&I $4,233 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.930%APR 6.696% | 0 pts$0 | $4,229/moP&I $3,927 · MI $302 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.854%APR 5.900% | 0 pts$0 | $3,828/moP&I $3,828 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.524%APR 6.556% | 0 pts$0 | $4,110/moP&I $4,110 · MI $0 | See details |
| Investment Property FixedConforming | 7.488%APR 7.526% | 0 pts$0 | $4,530/moP&I $4,530 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 5.854% | 5.900% | 0 pts ($0) | $5,422/mo | $106,563 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.852% | 5.899% | 0 pts ($0) | $6,777/mo | $148,965 |
Condo 10% Down | 10% | 720 credit score | 6.998% | 7.161% | 0 pts ($0) | $4,853/mo | $169,436 |
Conventional 10% Down | 10% | 720 credit score | 6.497% | 6.649% | 0 pts ($0) | $4,610/mo | $158,425 |
Conventional 20% Down | 20% | 740 credit score | 6.810% | 6.843% | 0 pts ($0) | $4,233/mo | $130,397 |
Conventional 5% Down | 5% | 700 credit score | 6.939% | 7.412% | 0 pts ($0) | $5,093/mo | $177,480 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.250% | 7.286% | 0 pts ($0) | $5,530/mo | $189,559 |
Conventional High Balance | 10% | 740 credit score | 7.001% | 7.034% | 0 pts ($0) | $4,855/mo | $165,124 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.631% | 6.999% | 0 pts ($0) | $5,038/mo | $180,997 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.524% | 6.556% | 0 pts ($0) | $5,137/mo | $171,822 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $6,690/mo | $159,504 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.930% | 6.696% | 0 pts ($0) | $4,737/mo | $165,793 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $4,912/mo | $171,955 |
FHA Streamline Refi | 0% | 640 credit score | 6.043% | 6.811% | 0 pts ($0) | $4,969/mo | $174,607 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.913% | 7.153% | 0 pts ($0) | $5,079/mo | $183,808 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $5,072/mo | $99,305 |
Investment Property 25% Down | 25% | 740 credit score | 7.488% | 7.526% | 0 pts ($0) | $4,246/mo | $134,678 |
Jumbo Conforming | 20% | 760 credit score | 7.003% | 7.035% | 0 pts ($0) | $4,316/mo | $134,169 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $4,714/mo | $144,542 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.284% | 7.056% | 0 pts ($0) | $4,919/mo | $174,264 |
Second Home 10% Down | 10% | 720 credit score | 5.941% | 6.511% | 0 pts ($0) | $4,347/mo | $146,225 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $4,265/mo | $131,843 |
VA 0% Down | 0% | 700 credit score | 5.929% | 6.169% | 0 pts ($0) | $4,927/mo | $161,979 |
VA Cash-Out Refi | 0% | 640 credit score | 5.934% | 6.297% | 0 pts ($0) | $4,930/mo | $162,104 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 5.945% | 6.093% | 0 pts ($0) | $4,936/mo | $162,377 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $4,461/mo | $141,132 |
Frequently Asked Questions
What are today's mortgage rates in 07004, , NJ across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 07004, , NJ is 6.810% (with an estimated monthly payment of $3,780). Active program rates also include FHA 30-year fixed loans at 5.930% and VA 0%-down fixed loans at 5.929%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 07004, , NJ?
Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in 07004, , NJ have fluctuated between a low of 6.430% and a high of 6.890%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in 07004, , NJ?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $810,714 in 07004, , NJ, a standard 20%-down Conventional loan requires an upfront cash down payment of $162,143 but keeps your monthly payment lower at $3,780/mo (at 6.810% interest) with no monthly PMI. In comparison, an FHA loan requires only $28,375 (3.5% down) but has an estimated payment of $4,230/mo (at 5.930% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $782,339 falls comfortably within the local HUD FHA loan limit of $932,321 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 07004 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 07004 is $806,501. With a typical local home value of $810,714 in , a standard 20%-down mortgage requires a loan size of $648,571. Because this is within the $806,501 conforming threshold, buyers can easily qualify for standard conforming conventional financing with competitive rates.
How does the median home value in 07004, , NJ impact estimated mortgage payments?
The median home value in 07004, , NJ is estimated at $810,714. Buying a typical home here with a standard 20% down payment ($162,143) translates to an estimated starting monthly mortgage payment of $3,780 (principal and interest). Compared to the local area median household income of $115,980 ($9,665/mo), this basic housing payment represents approximately 39.1% of gross monthly household income. Because this housing cost exceeds the standard 36% lender DTI guideline, buyers in this high-value area may need larger down payments, lower debt balances, or co-borrower income to qualify.