Buying a home in New Jersey

New Jersey's effective property-tax rate is about 1.675%of a home's value per year, higher than the U.S. average of 0.888%. On a $500,000 home that's roughly $8,375 a year.

Full New Jersey property-tax guide →

New Jersey involves an attorney at closing, and Transfer taxes vary in NJ — confirm locally. On a $400,000 home, estimated closing costs run about $8,967–$13,067 on top of your down payment.

Full New Jersey closing-costs guide →

New Jersey runs a housing finance agency with first-time-buyer help: down-payment assistance, below-market first mortgages, and mortgage tax credits.

See first-time buyer programs in New Jersey →

What you can afford depends on your income, debts, and down payment, not just the home price. New Jersey's property taxes above feed straight into the monthly payment lenders measure against your income.

Enter your numbers once and see your real affordability range, debt-to-income, and rent-vs-buy break-even for New Jersey:

Home Buying Steps walks you through the whole process, from checking if you're ready to getting pre-approved to closing day, one clear step at a time, tailored to New Jersey where the rules differ.

• 1. Are you ready? — budget, credit, rent vs. buy
• 2. Get your finances in order — pre-approval
• 5. Making an offer — earnest money & contingencies
• 10. Closing day — every cost, line by line