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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 | 6.863%APR 6.898% | 0 pts$0 | $2,846/moP&I $2,846 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.997%APR 6.766% | 0 pts$0 | $2,848/moP&I $2,645 · MI $202 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.936%APR 5.985% | 0 pts$0 | $2,583/moP&I $2,583 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.903%APR 6.939% | 0 pts$0 | $2,858/moP&I $2,858 · MI $0 | See details |
| Investment Property FixedConforming | 7.571%APR 7.611% | 0 pts$0 | $3,054/moP&I $3,054 · 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 | 5.936% | 5.985% | 0 pts ($0) | $3,646/mo | $72,301 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.905% | 5.954% | 0 pts ($0) | $4,548/mo | $100,463 |
Condo 10% Down | 10% | 720 credit score | 7.090% | 7.256% | 0 pts ($0) | $3,276/mo | $114,677 |
Conventional 10% Down | 10% | 720 credit score | 6.557% | 6.711% | 0 pts ($0) | $3,103/mo | $106,840 |
Conventional 20% Down | 20% | 740 credit score | 6.863% | 6.898% | 0 pts ($0) | $2,846/mo | $87,905 |
Conventional 5% Down | 5% | 700 credit score | 6.984% | 7.461% | 0 pts ($0) | $3,422/mo | $119,402 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.307% | 7.345% | 0 pts ($0) | $3,720/mo | $127,714 |
Conventional High Balance | 10% | 740 credit score | 7.001% | 7.034% | 0 pts ($0) | $3,247/mo | $110,439 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.769% | 7.143% | 0 pts ($0) | $3,418/mo | $123,241 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.903% | 6.939% | 0 pts ($0) | $3,572/mo | $121,109 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $4,474/mo | $106,681 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.997% | 6.766% | 0 pts ($0) | $3,191/mo | $111,958 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,285/mo | $115,008 |
FHA Streamline Refi | 0% | 640 credit score | 6.136% | 6.907% | 0 pts ($0) | $3,356/mo | $118,324 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.958% | 7.200% | 0 pts ($0) | $3,413/mo | $123,634 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $3,392/mo | $66,418 |
Investment Property 25% Down | 25% | 740 credit score | 7.571% | 7.611% | 0 pts ($0) | $2,863/mo | $91,095 |
Jumbo Conforming | 20% | 760 credit score | 7.003% | 7.035% | 0 pts ($0) | $2,887/mo | $89,736 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $3,153/mo | $96,674 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.372% | 7.147% | 0 pts ($0) | $3,320/mo | $117,962 |
Second Home 10% Down | 10% | 720 credit score | 6.014% | 6.587% | 0 pts ($0) | $2,930/mo | $98,869 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,852/mo | $88,180 |
VA 0% Down | 0% | 700 credit score | 5.994% | 6.236% | 0 pts ($0) | $3,319/mo | $109,418 |
VA Cash-Out Refi | 0% | 640 credit score | 5.998% | 6.364% | 0 pts ($0) | $3,320/mo | $109,484 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.020% | 6.171% | 0 pts ($0) | $3,328/mo | $109,850 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,984/mo | $94,393 |
Frequently Asked Questions
What are today's mortgage rates in 08818, , NJ across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 08818, , NJ is 6.863% (with an estimated monthly payment of $2,655). Active program rates also include FHA 30-year fixed loans at 5.997% and VA 0%-down fixed loans at 5.994%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 08818, , 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 08818, , NJ have fluctuated between a low of 6.484% and a high of 6.945%. 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 08818, , NJ?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $542,226 in 08818, , NJ, a standard 20%-down Conventional loan requires an upfront cash down payment of $108,445 but keeps your monthly payment lower at $2,655/mo (at 6.863% interest) with no monthly PMI. In comparison, an FHA loan requires only $18,978 (3.5% down) but has an estimated payment of $2,977/mo (at 5.997% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $523,248 falls comfortably within the local HUD FHA loan limit of $524,225 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 08818 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 08818 is $806,501. With a typical local home value of $542,226 in , a standard 20%-down mortgage requires a loan size of $433,781. 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 08818, , NJ impact estimated mortgage payments?
The median home value in 08818, , NJ is estimated at $542,226. Buying a typical home here with a standard 20% down payment ($108,445) translates to an estimated starting monthly mortgage payment of $2,655 (principal and interest). Compared to the local area median household income of $110,699 ($9,225/mo), this basic housing payment represents approximately 28.8% of gross monthly household income. This housing cost is well within standard lender affordability guidelines (under the 36% DTI benchmark), demonstrating healthy local purchasing power.