30-Year Fixed Mortgage Refinance Interest Rates in Jersey City, NJ

Compare mortgage rates in Jersey City, New Jersey

Showing results for: 30-Year Fixed refinance offers for Single Family or Townhome properties in NJ, total loan amount of $228,000.

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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Rates and fees are estimates and subject to change without notice. Payments do not include taxes and insurance premiums. Actual payments may be higher. Not all lenders participate in this marketplace. Loan availability and terms may vary by state and lender. Lender offers, including badges like “Lowest APR” or “Lowest Payment,” are based only on results displayed here and may not reflect the absolute lowest offer available in the market. Rate and product details

How Much Can I Save Refinancing to 30-Year in Jersey City?

In Jersey City's high-cost market with $862,800 median homes, even small rate drops create substantial savings. Refinancing $690,240 from 7% to 6% saves $454/month-$5,448 annually. Over 30 years, that's $163k in interest savings. With 25.3% annual appreciation, your home equity grows steadily, potentially qualifying you for better conforming rates over time.

What Are 30-Year Refi Closing Costs in High-Cost Jersey City?

Closing costs on Jersey City's higher-value homes run $13,805-$20,707 (2-3% of loan amount). On $690,240, expect $17,256 including: appraisal ($600-900 for higher values), title insurance (scales with price), lender fees (0.5-1%), and escrow setup. However, large loan savings justify costs quickly-you break even in just 38 months at 7%→6%. Even a 0.5% drop on this loan size saves $82,440 over 30 years.

Should I Do Cash-Out 30-Year Refinancing in Jersey City?

Cash-out refinancing in Jersey City lets you access equity while maintaining low 30-year payments. With 25.3% appreciation, if your home grew from $862,800 to $949,080, you could access up to $69,024 while keeping 20% equity. Use cases: renovations that increase value, investment opportunities, consolidating high-interest debt. Cash-out rates are 0.25-0.5% higher than rate-and-term, but the 30-year term spreads costs over time. Remember: property taxes at 2.49% ($1,790/month) don't change when you refinance.

How Does the Mortgage Interest Deduction Affect Jersey City 30-Year Refis?

The mortgage interest deduction (limited to interest on $750,000 principal for post-2017 loans) provides tax benefits on Jersey City's higher-value mortgages. On a $690,240 30-year loan at 6%, you'll pay approximately $41,414 in interest the first year-all deductible if under $750k. At 35% marginal tax rate, you save around $14k annually in taxes. When refinancing to 30-year, you reset amortization, paying more interest early (which is deductible). Consult a CPA about SALT cap implications with Jersey City's 2.49% property taxes.