South Jersey Mortgage Data Hub

If you have a lower credit score and need a 3.5% down payment, an FHA loan is usually the best option in NJ. However, if you have strong credit and at least 3% to put down, a Conventional loan is better because it allows you to cancel private mortgage insurance (PMI) once you build 20% equity.

Yes! The New Jersey Housing and Mortgage Finance Agency (NJHMFA) offers incredibly valuable programs for residents. Their First-Time Homebuyer Program provides competitive interest rates, and when paired with the Down Payment Assistance (DPA) program, eligible buyers can receive up to $15,000 to help cover down payment and closing costs in specific counties like Camden, Atlantic, and Gloucester.

Your estimated annual property taxes are divided by 12 and included in your monthly mortgage payment via your escrow account. Because South Jersey property tax rates vary wildly by municipality (from 1.5% to over 3.5%), the town you choose will significantly impact your debt-to-income (DTI) ratio. Higher taxes mean less of your monthly payment goes toward the actual loan, which can lower your maximum approved purchase price.

You do not need 20% down to buy a house in South Jersey. For a $300,000 home, a minimum 3.5% FHA down payment is exactly $10,500. Additionally, many rural and suburban areas in South Jersey qualify for 0% down USDA loans, and eligible veterans can use 0% down VA loans.

The New Jersey Housing and Mortgage Finance Agency (NJHMFA) Down Payment Assistance (DPA) program provides eligible first-time homebuyers with up to $15,000 as a forgivable second mortgage to use toward their down payment and closing costs. The assistance is forgivable after five years if the homeowner continues to occupy the home as their primary residence. Income and purchase price limits apply and vary by county across South Jersey.

For 2024, the FHA loan limit for most South Jersey counties — including Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, and Salem — is $561,200 for a single-family home. This means FHA financing with as little as 3.5% down is available for homes priced up to that amount. For a purchase at the FHA limit, the minimum down payment would be approximately $19,642.

Cape May County municipalities generally have the lowest effective property tax rates in South Jersey, with some shore towns like Avalon, Stone Harbor, and Cape May under 0.5%. Inland towns in Camden, Burlington, and Gloucester counties typically range from 2% to 3.5%. When comparing homes across towns, always factor in the total monthly payment including taxes — a lower-priced home in a high-tax township can cost more per month than a higher-priced home in a low-tax township.

Yes — many communities in South Jersey qualify for USDA Rural Development loans, which offer 100% financing (zero down payment) for eligible borrowers. Areas including parts of Atlantic, Cumberland, Salem, Cape May, and Burlington counties often meet the USDA rural eligibility criteria. Income limits apply and are based on household size and the area median income. A licensed NJ mortgage originator can confirm whether a specific property address is USDA-eligible.

Our South Jersey Mortgage Calculator estimates your total monthly payment including principal & interest, property taxes, and homeowners insurance. You can search for any of 100+ South Jersey municipalities to automatically populate the local property tax rate, then adjust home price, down payment percentage, interest rate, and loan term. The calculator is pre-loaded with the latest estimated tax rates and FHA loan limits from the NJ Department of Community Affairs and HUD.