Bergen County Mortgage Rates
Compare today's mortgage rates for FHA, VA, Conventional, and Jumbo loans in Bergen County, New Jersey. Rates updated daily.
Today's Bergen County Rates
Compare rates across all major loan programs
| Loan Program | Rate | APR | Points | Est. Payment* | Action |
|---|---|---|---|---|---|
30-Year Fixed FHAPOPULAR Save $127/mo vs Conventional | 6.125% | 6.892% | 0.875 | $1,821 on $300,000 | Lock Rate |
30-Year Fixed Conventional | 6.375% | 6.521% | 0.500 | $1,948 on $300,000 | Lock Rate |
30-Year Fixed VA Save $173/mo - Veterans Only | 5.875% | 6.142% | 0.750 | $1,775 on $300,000 | Lock Rate |
15-Year Fixed | 5.625% | 5.891% | 0.625 | $2,456 on $300,000 | Lock Rate |
5/1 ARM Save $292/mo (first 5 years) | 5.250% | 6.723% | 1.000 | $1,656 on $300,000 | Lock Rate |
Rate Disclaimer: Rates shown are sample rates and may not reflect your actual rate. Your rate will be determined by your credit score, down payment, loan amount, property type, and other factors. All rates are subject to change without notice. APR includes estimated fees and costs. Contact us for a personalized rate quote. NMLS #1577754.
Understanding Bergen County Mortgage Rates
FHA Loan Rates (Currently 6.375% APR)
FHA loans offer competitive rates with just 3.5% down payment and credit scores as low as 580. Perfect for first-time homebuyers in Bergen County.
- Minimum down payment: 3.5%
- Credit score: 580+ (10% down if 500-579)
- Loan limits: Up to $929,200 in Bergen County
- Mortgage insurance required
VA Loan Rates (Currently 6.125% APR)
VA loans offer the lowest rates with 0% down payment for eligible veterans and active military. No PMI required, saving hundreds monthly.
- Minimum down payment: 0%
- No private mortgage insurance (PMI)
- Flexible credit requirements
- VA funding fee applies (can be financed)
Conventional Loan Rates (Currently 6.5% APR)
Conventional loans offer flexibility with down payments as low as 3% and no upfront mortgage insurance premium.
- Minimum down payment: 3% (first-time buyers), 5% (repeat buyers)
- PMI can be removed at 20% equity
- Best rates with 20%+ down payment
- Credit score: 620+ recommended
Jumbo Loan Rates (Currently 6.875% APR)
Jumbo loans for Bergen County luxury homes above $929,200. Competitive rates for Ridgewood, Alpine, and Saddle River properties.
- Loan amounts: $929,200 to $5,000,000+
- Minimum down payment: 10-20%
- Credit score: 700+ required
- Lower debt-to-income requirements
Frequently Asked Questions
What factors affect my mortgage rate?
Your mortgage rate is influenced by several factors: credit score (740+ gets best rates), down payment amount (20%+ eliminates PMI), loan type (FHA/VA/Conventional/Jumbo), loan term (15-year vs 30-year), debt-to-income ratio, property type, and market conditions. We'll help you optimize these factors to get the best possible rate.
How do Bergen County property taxes impact my monthly payment?
Bergen County has some of NJ's highest property taxes, averaging $12,000-$25,000 annually depending on the town. While taxes don't affect your interest rate, they significantly impact your total monthly payment (PITI). A lower mortgage rate helps offset high property tax costs. Use our calculator to see your complete monthly payment.
Should I pay discount points to lower my rate?
Discount points let you "buy down" your interest rate by paying an upfront fee (1 point = 1% of loan amount = ~0.25% rate reduction). This makes sense if you plan to keep the loan 5+ years. We'll calculate your break-even point and help you decide if points are worth it for your situation.
Can I refinance if rates drop?
Yes! Many of our loan programs include free refinance options if rates drop. Generally, refinancing makes sense when rates drop by 0.5% - 1% or more. We'll monitor the market for you and proactively reach out when refinancing could save you money. "Marry the home, date the rate" – you can always refinance later.
How long does a rate lock last?
We offer 60-day rate locks on purchase loans and up to 360 days for new construction. This protects you from rate increases while your loan is being processed. If you're under contract, we recommend locking immediately to secure your rate, especially in a rising rate environment.
Get Your Personalized Rate Quote
See your actual rate based on your credit score, down payment, and loan amount. Free, no-obligation quote in minutes.
NMLS #1577754 | Licensed in NJ | Equal Housing Lender