Compare Today’s Mortgage Rates in Madison, New Jersey 07940
Pureloan is dedicated to helping you secure the best mortgage rates by conducting extensive searches among mortgage lenders and major banks in Madison, New Jersey 07940.
Our search engine thoroughly explores all home mortgage options in Madison, New Jersey 07940, including fixed-rate, adjustable-rate (ARM), FHA, VA, USDA, conventional, jumbo, and conforming home mortgages. Based on our calculations, we estimate that for a 30-year fixed loan, you can expect to save $19,619 in lifetime cash or $54 per month in Madison and other areas of Morris county.
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Summary of Average Mortgages in Madison, New Jersey 07940
Rate
APR
Expected Savings
Monthly Payment
Total Closing Costs
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Interactive Mortgage Rate Projections for Madison, New Jersey 07940
Pureloan has developed an interactive chart to help you forecast and predict mortgage rates in Madison, NJ 07940. This chart tracks the rates of the five largest nationwide lenders based on historical data from closed mortgage financings and projections using our proprietary modeling.
Historical Mortgage Rates in Madison, New Jersey 07940 from 2024 - 2016
We have compiled mortgage rates charts for home loans in Madison, New Jersey and around Morris county to provide insight into trends that may be helpful during your home buying process. This data is derived from actual closed loans.
2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
---|---|---|---|---|---|---|---|---|---|
% 30 year fixed mortgage | 89.33% | 85.05% | 88.86% | 83.11% | 80.23% | 82.02% | 80.10% | 82.32% | 80.75% |
avg mortgage rate | 6.70% | 4.66% | 3.08% | 3.46% | 4.50% | 4.76% | 4.22% | 3.96% | 4.08% |
% 15 year fixed mortgage | 8.00% | 12.81% | 8.73% | 14.57% | 16.35% | 15.79% | 15.82% | 15.47% | 14.29% |
avg mortgage rate | 6.08% | 3.92% | 2.49% | 3.08% | 3.92% | 4.12% | 3.62% | 3.20% | 3.35% |
Avg credit score | 727.29 | 743.98 | 772.04 | 743.10 | 740.31 | 734.14 | 734.10 | 735.21 | 742.11 |
Avg LTV (loan to value) | 83.36% | 84.22% | 84.90% | 85.68% | 86.24% | 85.40% | 85.47% | 85.81% | 86.24% |
Avg DTI (debt to income) | 35.43 | 34.59 | 33.50 | 33.37 | 34.81 | 35.03 | 35.01 | 31.62 | 30.78 |
% First time homebuyer | 37.33% | 39.15% | 33.13% | 35.43% | 37.26% | 31.14% | 27.04% | 31.49% | 33.54% |
Avg mortgage insurance % | 16.00% | 16.72% | 16.33% | 15.80% | 16.57% | 15.64% | 16.70% | 15.10% | 16.27% |
Best Mortgage Brokers around Madison, New Jersey 07940
For those searching for a new home in Madison, we have compiled a list of the top mortgage brokers located in and around Madison, New Jersey 07940 to assist you with your search.
Name
Address
Contact
Superior Mortgage
14 Main St
Madison NJ 07940
(973) 295-6478
http://www.superiormortgage.net/
Guaranteed Rate
14 Main St
Madison NJ 07940
(973) 295-6478
http://www.guaranteedrate.com/
Premiere Lending
340 Main St
Madison NJ 07940
(973) 219-9282
Gaito Michael
9 Conifer Dr
Mendham NJ 07940
(973) 543-8787
Address
14 Main St
Madison NJ
Contact
(973) 295-6478
http://www.superiormortgage.net/
Address
14 Main St
Madison NJ
Contact
(973) 295-6478
http://www.guaranteedrate.com/
Address
340 Main St
Madison NJ
Contact
(973) 219-9282