Assumable Mortgages in New Jersey

Assumable Homes in New Jersey

New Jersey's assumable property market benefits from the state's proximity to both New York City and Philadelphia, two of the most expensive housing markets in the country. Our New Jersey dataset covers approximately 71,000 FHA and VA assumable homes across 1,913 census tracts, with a median note rate of 3.8%.

New Jersey's FHA assumable property is concentrated in the urban cores and inner suburbs of its two major metro areas. In the north — Essex, Hudson, Union, and Passaic counties — FHA assumable homes are common in Newark, Irvington, East Orange, Paterson, and Elizabeth. In the south — Camden, Burlington, and Gloucester counties — FHA assumable property is concentrated in communities across the Delaware River from Philadelphia.

Joint Base McGuire-Dix-Lakehurst is one of the largest joint bases in the country and generates VA assumable homes across Burlington and Ocean counties in central New Jersey. Picatinny Arsenal in Morris County also contributes to the state's VA assumable property inventory.

At 6.0 years median age and a 3.8% median note rate, New Jersey's assumable obligations largely date to the 2019–2022 rate environment. In a state where median home prices regularly exceed $500,000, assuming an existing obligation at 3.8% versus originating new can represent $1,000 to $1,800 per month in payment savings. Our New Jersey data list covers all 21 counties at the census-tract level.