Mortgage on a $800K house in New Jersey
$5,917 a month with 20% down — $4,305 principal and interest plus $1,212 property tax and $400 insurance.
New Jersey's typical property tax is 1.82% of the home's value a year (U.S. average 0.9%), which adds $1,212 a month on a $800K home. The typical home in New Jersey is worth $575,123, so $800K is 39% above the typical price.
$800K 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 | $160,000 | $640,000 | $4,305 | $0 | $1,612 | $5,917 | $253,600 |
| 10% down | $80,000 | $720,000 | $4,843 | $300 | $1,612 | $6,755 | $289,500 |
| 5% down | $40,000 | $760,000 | $5,113 | $317 | $1,612 | $7,041 | $301,800 |
| 3.5% down (FHA) | $28,000 | $785,510 | $5,284 | $354 | $1,612 | $7,250 | $310,700 |
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 $800K buy a typical home?
In these counties the typical home value is within 15% of $800K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Cape May County | $813,005 | 1.22% | $5,519 |
| Monmouth County | $786,951 | 1.65% | $5,805 |
| Bergen County | $780,357 | 1.61% | $5,776 |
| Morris County | $701,797 | 1.72% | $5,850 |
20 of 21 New Jersey counties tracked by Zillow have a typical home value at or below $800K. See all New Jersey home prices.
Other prices in New Jersey
Frequently asked questions
What is the mortgage on a $800K house in New Jersey?
About $5,917 a month with 20% down at 7.11%: $4,305 principal and interest, $1,212 property tax and $400 insurance.
How much do I need to make to buy a $800K house in New Jersey?
About $253,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $800K house in New Jersey?
At New Jersey's typical effective rate of 1.82%, about $14,541 a year. Rates vary by county and city — see the county pages.