Mortgage rates in New Jersey are amongst some of the lowest in the nation right now. Total Mortgage currently has a wide variety of mortgage products available in the Garden State; all of which have some of the lowest mortgage rates in the state.
One of the more popular mortgages in New Jersey is the 30 year fixed conventional mortgage. The current mortgage rate for a 30 year fixed conventional mortgage is 4.125 percent and has a 4.323 percent APR. Another popular product is a 30 year fixed FHA mortgage, which currently has a 4.000 percent mortgage rate and a 5.178 percent APR.
Adjustable rate mortgages (ARM) are also becoming pretty popular in New Jersey. Many people choose an ARM because it offers a low initial mortgage rate. A 5/1 conforming ARM currently has a 3.000 percent mortgage rate and a 3.481 percent APR. A 5/1 jumbo ARM, meant for larger loans, has mortgage rate of 3.625 percent and a 3.657 percent APR.
Other popular jumbo mortgages include 30 and 15 year fixed mortgages. A 30 year fixed jumbo mortgage has a 5.000 percent rate and a 5.203 percent APR. A 15 year fixed jumbo mortgage has a 4.000 mortgage rate and an APR of 4.349 percent.
Mortgage rates are constantly fluctuating; all rates were quoted at 2:20 p.m on July 29, 2010.
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional | 4.125% | 4.323% |
| 30 Year Fixed FHA | 4.000% | 5.178% |
| 30 Year Fixed Jumbo | 5.000% | 5.203% |
| 15 Year Fixed Jumbo | 4.000% | 4.349% |
| 5/1 Conforming ARM | 3.000% | 3.481% |
| 5/1 Jumbo ARM | 3.625% | 3.657% |
For more information on all of the mortgage products available in New Jersey call 877-868-2503 to speak with a licensed mortgage expert immediately.
*All rates shown are for 30 day rate locks. Longer locks available. The APR for conventional loan amounts is calculated using a loan amount of $417,000, 2 points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for jumbo loan amounts is calculated using a loan amount of $500,000, two points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for FHA loan amounts is calculated using a loan amount of $295,000, two points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. Some rates and fees may vary by state. All interest rates listed are for qualified applicants and are subject to mortgage approval. All rates are subject to change without notice.
<tbody>
<tr>
<th>Mortgage Product</th>
<th>Mortgage Rates</th>
<th>APR</th>
</tr>
<tr>
<td>30 Year Fixed Conventional</td>
<td>4.125%</td>
<td>4.323%</td>
</tr>
<tr>
<td>20 Year Fixed Conventional</td>
<td>4.000%</td>
<td>4.273%</td>
</tr>
<tr>
<td>15 Year Fixed Conventional</td>
<td>3.625%</td>
<td>3.972</td>
</tr>
<tr>
<td>5/1 Conforming ARM</td>
<td>3.000%</td>
<td>3.481%</td>
</tr>
<tr>
<td>5/1 Jumbo ARM</td>
<td>3.625%</td>
<td>3.657%</td>
</tr>
</tbody>
</table>
For more information on our <a title=”Current Mortgage Rates” href=”http://www.totalmortgage.com/current-mortgage-rates.asp?campaign=blog” target=”_self”>current mortgage rates</a> call<strong> 877-868-2503</strong> to speak with a licensed mortgage professional today!
<span class=”tiny_text”>*All rates shown are for 30 day rate locks. Longer locks available. The APR for conventional loan amounts is calculated using a loan amount of $417,000, 2 points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for jumbo loan amounts is calculated using a loan amount of $500,000, two points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for FHA loan amounts is calculated using a loan amount of $295,000, two points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. Some rates and fees may vary by state. All interest rates listed are for qualified applicants and are subject to mortgage approval. All rates are subject to change without notice.</span>
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