New Jersey Closing Costs Calculator
Estimate closing costs for buying a home in New Jersey. Average closing costs run 2.0% of the purchase price (about $10K on the median home).
New Jersey: Avg closing costs 2.0% of price. Transfer tax: 1%.
Lender Fees
$4,061
origination, underwriting
Third-Party
$3,975
appraisal, title, inspection
Government Fees
$5,050
transfer taxes, recording
Prepaids + Escrow
$9,201
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$3,636
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$2,825
Recording Fee$150
Transfer Tax$5,050
Prepaid Taxes (3 mo)$3,118
Prepaid Insurance (12 mo)$1,500
Prepaid Interest (15 days)$1,214
Escrow Reserves$3,368
Total Closing Costs$22,287
New Jersey Housing at a Glance
Median Home Price
$505K
New Jersey statewide
Property Tax Rate
2.47%
$1,039/mo on median
Avg Closing Costs
$10K
2.0% of purchase price
Homeowners Insurance
$1,500/yr
$125/mo
New Jersey First-Time Buyer Program
NJHMFA DPA Program
Down payment assistance: Up to $15,000 forgivable