Mortgage on a $600K house in New Jersey
$4,438 a month with 20% down — $3,229 principal and interest plus $909 property tax and $300 insurance.
New Jersey's typical property tax is 1.82% of the home's value a year (U.S. average 0.9%), which adds $909 a month on a $600K home. The typical home in New Jersey is worth $575,123, so $600K is 4% above the typical price.
$600K home in New Jersey: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $120,000 | $480,000 | $3,229 | $0 | $1,209 | $4,438 | $190,200 |
| 10% down | $60,000 | $540,000 | $3,633 | $225 | $1,209 | $5,066 | $217,100 |
| 5% down | $30,000 | $570,000 | $3,834 | $238 | $1,209 | $5,281 | $226,300 |
| 3.5% down (FHA) | $21,000 | $589,133 | $3,963 | $265 | $1,209 | $5,437 | $233,000 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.82% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in New Jersey does $600K buy a typical home?
In these counties the typical home value is within 15% of $600K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Passaic County | $597,668 | 2.18% | $4,617 |
| Middlesex County | $579,852 | 2.1% | $4,578 |
| Hunterdon County | $627,345 | 1.93% | $4,496 |
| Union County | $627,890 | 1.89% | $4,474 |
| Hudson County | $636,059 | 1.77% | $4,414 |
| Ocean County | $551,299 | 1.65% | $4,353 |
| Somerset County | $656,346 | 1.81% | $4,435 |
| Essex County | $658,593 | 1.91% | $4,483 |
12 of 21 New Jersey counties tracked by Zillow have a typical home value at or below $600K. See all New Jersey home prices.
Other prices in New Jersey
Frequently asked questions
What is the mortgage on a $600K house in New Jersey?
About $4,438 a month with 20% down at 7.11%: $3,229 principal and interest, $909 property tax and $300 insurance.
How much do I need to make to buy a $600K house in New Jersey?
About $190,200 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $600K house in New Jersey?
At New Jersey's typical effective rate of 1.82%, about $10,906 a year. Rates vary by county and city — see the county pages.