Mortgage Refinance Rates in New Jersey (2026)
With New Jersey's median value near $520,000, a homeowner refinancing a typical $354,000 balance from about 7.50% to 6.25% saves roughly $296/month — breaking even on ~$8,850 of costs near month 30.
Most New Jersey owners have built real equity. A cash-out refinance can tap up to 80% of value, and a rate-and-term refinance simply lowers the payment. 6 New Jersey counties are high-cost, raising the conforming ceiling there.
Refinance snapshot by New Jersey county
| County | Est. Value | 2026 Conforming Limit | Tier |
|---|---|---|---|
| Bergen County | $560,000 | $1,249,125 | High-cost |
| Essex County | $460,000 | $1,249,125 | High-cost |
| Middlesex County | $490,000 | $1,249,125 | High-cost |
| Hudson County | $520,000 | $1,249,125 | High-cost |
| Ocean County | $470,000 | $1,249,125 | High-cost |
| Monmouth County | $610,000 | $1,249,125 | High-cost |
| Camden County | $290,000 | $806,500 | Baseline |
| Union County | $520,000 | $806,500 | Baseline |
| Passaic County | $520,000 | $806,500 | Baseline |
| Morris County | $520,000 | $806,500 | Baseline |
| Burlington County | $520,000 | $806,500 | Baseline |
| Mercer County | $520,000 | $806,500 | Baseline |
| Somerset County | $520,000 | $806,500 | Baseline |
| Gloucester County | $520,000 | $806,500 | Baseline |
| Atlantic County | $520,000 | $806,500 | Baseline |
| Cumberland County | $520,000 | $806,500 | Baseline |
| Sussex County | $520,000 | $806,500 | Baseline |
| Hunterdon County | $520,000 | $806,500 | Baseline |
| Warren County | $520,000 | $806,500 | Baseline |
| Cape May County | $520,000 | $806,500 | Baseline |
Should you refinance in New Jersey?
It comes down to your break-even. Take your closing costs (often 2-5% of the balance) and divide by your monthly savings — if you will stay in the home past that month count, refinancing usually wins. Cash-out makes sense when the rate and use of funds beat your other borrowing options.
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Frequently Asked Questions
- How much can refinancing save in New Jersey?
- On a $354,000 balance near the New Jersey median, dropping from ~7.50% to 6.25% saves about $296/month. Your figure depends on your current rate and balance.
- What is the conforming loan limit in New Jersey for 2026?
- Most New Jersey counties use the $806,500 baseline; high-cost counties go up to $1,209,750. Above that, refinances are jumbo loans.