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  1. United States
  2. Best Mortgage Brokers
  3. Mortgage Brokers in New Jersey
  4. Jersey City
  5. Mortgage Affordability Calculator
1 · Your income
2 · Down payment
3 · What you can afford
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Mortgage Affordability Calculator Jersey City, NJ

How much house can you afford in Jersey City? See your maximum price, monthly payment and pre-approval estimate. Free, instant, no credit check.

Updated · current rates and lending limits

Add your partner's income if you're buying together.

Car loans, credit cards, lines of credit, student loans. Not rent.

Property tax are for this state.

An estimate, not a mortgage approval or pre-approval. A mortgage broker confirms your real number.

Top-rated mortgage brokers in Jersey City

Ranked by TrustAnalytica from verified reviews · see the full Top 10 list →

1

Asset Based Lending

Asset Based Lending focuses on asset-based and DSCR loans, offering quick and professional service for investors and borrowers. The team is known for clear communication and helpful guidance, especially for first-time investors, though some clients have noted occasional delays and communication challenges during closing.

Services & Prices
DSCR Loans Quoted per loan
Asset-Based Loans Quoted per loan
Investor Loans Quoted per loan
View Profile
(201) 380-8873
Closed Now
30 Montgomery St Suite 150, Jersey City, NJ 07302
General Services
Lending Services
2

COREY JONES, COLDWELL BANKER

Corey Jones, Coldwell Banker focuses on guiding clients through New Jersey’s real estate market with a data-driven approach and deep local knowledge. The team assists buyers and sellers across multiple counties, providing clear communication and steady support throughout the process. Customers appreciate their responsiveness and expertise, though some note the market’s challenges can affect… more...

Corey Jones, Coldwell Banker focuses on guiding clients through New Jersey’s real estate market with a data-driven approach and deep local knowledge. The team assists buyers and sellers across multiple counties, providing clear communication and steady support throughout the process. Customers appreciate their responsiveness and expertise, though some note the market’s challenges can affect timing.

Services & Prices
Home Buying Consultation $100 - $200
Home Selling Consultation $100 - $200
Market Analysis $200 - $300
First-Time Homebuyer Workshops $50 - $100
View Profile
(908) 337-1541
Open 00:00 - 23:59
142 Newark Ave, Jersey City, NJ 07302
General Services
Real Estate Transactions
3

LIGHTNING MORTGAGE INC

Known for fast approvals and a personalized approach, Lightning Mortgage guides clients through home buying and refinancing with clear communication and local expertise. The team assists with loan options, pre-approvals, and closing details, helping both first-time buyers and experienced homeowners. Clients appreciate their support and timely updates throughout the process.

Services & Prices
Pre-Approval Process Quoted per loan
View Profile
Closed Now
591 Summit Ave #517, Jersey City, NJ 07306
General Services
Mortgage Services
4

Alterra Home Loans

Alterra Home Loans focuses on personalized mortgage services, aiming to guide clients smoothly through the homebuying process. The team offers a range of loan options and works closely with customers to meet their individual needs. While many appreciate the attentive service, experiences can vary from one client to another.

View Profile
(877) 845-4805
Closed Now
3 2nd Street Ste. 302 Harborside, Jersey City, NJ 07311
5

Johnny Tsu @ Exponential Mortgage

Known for clear communication and patient guidance, Johnny Tsu @ Exponential Mortgage helps clients navigate complex loan processes with transparency and professionalism. The team assists with mortgage loans and refinancing, consistently providing timely responses and straightforward explanations that many find reassuring throughout each step.

View Profile
(917) 567-4110
Closed Now
101 Hudson St #2182, Jersey City, NJ 07302
Where they are 8 on the map Click a pin for the profile and directions
6

PRMG

PRMG focuses on helping clients navigate the home-buying process with attentive support and clear communication. The team offers mortgage brokerage services aimed at securing suitable financing options. Customers appreciate the helpfulness and responsiveness, though detailed service aspects are less frequently mentioned.

View Profile
(551) 213-7285
Closed Now
101 Hudson St 21st Floor, Jersey City, NJ 07302
7

Oqvest

Oqvest specializes in home loans tailored for real estate investors, offering programs that support fix-and-flips, construction projects, and rental properties. The team provides flexible terms like high loan-to-value ratios and no income verification, with a focus on fast approvals and clear communication. Customers appreciate their organized approach and smooth, transparent process.

View Profile
(551) 225-0733
Closed Now
111 Town Square Pl Suite 1203, Jersey City, NJ 07310
8

Xu Han

View Profile
(917) 412-7485
Closed Now
125 18th St, Jersey City, NJ 07310

Jersey City Mortgage Statistics

Home-purchase lending in Hudson County and home costs in Jersey City, NJ (latest HMDA and Census data)

Lenders made 4,027 home-purchase loans in Hudson County in 2025 (average about $701,000) and denied 699 — 15% of decided applications, compared with 11% across New Jersey, according to federal mortgage data (HMDA, CFPB). In Jersey City, the median home is worth $566,900 and 68% of owners have a mortgage, paying a median $3,291 a month (Census ACS 2020–2024).

Home-purchase loans, 2025
4,027▼ 5%4,223 in 2024
Denial rate
15%NJ 11%
Median home value
$566,900NJ $454,400
Monthly cost with a mortgage
$3,291median · NJ $2,829
Refinance loans made (Hudson County, 2025)
2,054 · 1,298 in 2024
Home-improvement loans made (2025)
473
Average home-purchase loan
$701,000 (NJ $531,000)
Owners with a mortgage
68% · 39% of them spend 30%+ of income on housing
Median household income
$97,710 (NJ $103,556)

Source: CFPB / FFIEC Home Mortgage Disclosure Act (HMDA) data, 2024–2025 loan applications in Hudson County (originated vs denied); home values and costs: U.S. Census Bureau ACS 2020–2024. Compiled by TrustAnalytica.

Jersey City Mortgage Brokers stats: 8 businesses compared side by side · updated
# Business Rating Reviews Starting price Phone Website
1 Asset Based Lending 4.0 123 Quoted per loan (201) 380-8873 Visit
2 COREY JONES, COLDWELL BANKER 5.0 68 $30 (908) 337-1541 Visit
3 LIGHTNING MORTGAGE INC 5.0 51 Quoted per loan — Visit
4 Alterra Home Loans 4.9 34 — (877) 845-4805 Visit
5 Johnny Tsu @ Exponential Mortgage 5.0 30 — (917) 567-4110 Visit
6 PRMG 4.8 29 — (551) 213-7285 Visit
7 Oqvest 5.0 24 — (551) 225-0733 Visit
8 Xu Han 5.0 1 — (917) 412-7485 Visit

How this Jersey City mortgage affordability calculator works

Lenders look at your debt-to-income ratio. Housing costs (principal and interest, property tax, homeowners insurance and mortgage insurance) should stay under about 31% of your gross monthly income, and housing plus your other monthly debts under 43%. The calculator finds the highest home price that passes both tests with your down payment, on a 30-year fixed loan.

New Jersey rules and numbers this calculator uses

Debt-to-income
31% for housing and 43% total, the FHA standard and the long-time Qualified Mortgage limit. Some conventional loans go higher with strong credit and savings.
Down payment
At least 3% on a conventional first-time buyer loan (3.5% on FHA). Under 20% down, private mortgage insurance of about 0.6% of the loan a year is added to the payment.
Property tax
About 1.68% of the home's value a year, the New Jersey average for owner-occupied homes (2024 Census ACS).
Insurance
Homeowners insurance assumed at $150 a month; it varies a lot by home and location.
Rate
Starts at 7.40% (Freddie Mac 30-year average, October 2026). Change it to the rate you have been quoted.

An estimate, not a mortgage approval or pre-approval. Your credit, income type, the property and the lender all change the answer; a mortgage broker confirms your real number. Sources: Freddie Mac Primary Mortgage Market Survey (October 2026), U.S. Census Bureau American Community Survey 2024 property tax data, FHA and CFPB debt-to-income guidance.

Frequently asked questions

9 questions
How does the mortgage affordability calculator work for Jersey City?
It estimates the maximum home price you can afford based on income, debts, down payment, interest rate, and buyer status. It includes PMI and property tax.
What is the debt-to-income ratio for mortgages in New Jersey?
Lenders typically cap housing costs at 31% of gross income and total debts at 43%. Some loans allow more with strong credit.
What is the minimum down payment for a home in Jersey City?
First-time buyers can put down as little as 3% on conventional loans or 3.5% on FHA loans; VA and USDA loans may allow 0% down.
How do interest rates affect how much house I can afford?
Higher rates increase monthly payments, reducing the maximum home price you can afford. The calculator starts at a 7.40% interest rate.
How do existing debts impact my mortgage qualification?
Higher monthly debts reduce the mortgage amount you can qualify for, as lenders consider total debt payments in your debt-to-income ratio.
What is the property tax rate in New Jersey?
The average property tax rate is about 1.68% of the home's value annually in New Jersey.
What's the difference between mortgage pre-approval and pre-qualification?
Pre-approval involves lender verification of income, debts, and credit, while pre-qualification is an initial estimate without verification.
What does a mortgage broker do?
A mortgage broker connects buyers with lenders, helping find loan options that fit the buyer's financial situation and goals.
How accurate is the mortgage affordability estimate?
The estimate is based on provided data and general lending standards. Actual affordability may vary; a pre-approval gives a more precise figure.

General information, not financial advice — consult a qualified professional.