Closing Cost Calculator for New Jersey

Closing Costs in New Jersey

Buyers in New Jersey typically pay around $7,200 in total closing costs. New Jersey has a Realty Transfer Fee (RTF) of up to 1.21% of sale price on the seller side. Buyers also pay a Mansion Tax of 1% on residential purchases above $1M. Combined, closing costs are among the highest in the nation.

What's Included in New Jersey Closing Costs?

• Transfer & recording taxes: New Jersey has a Realty Transfer Fee (RTF) of up to 1.21% of sale price on the seller side. Buyers also pay a Mansion Tax of 1% on residential purchases above $1M. Combined, closing costs are among the highest in the nation.
• Lender fees: Origination, underwriting, and processing fees — typically 0.5–1% of the loan amount regardless of state.
• Title insurance: Owner's and lender's policies, required in most New Jersey transactions.
• Prepaid items: First year homeowner's insurance premium, prepaid property tax escrow, and prepaid interest.
• Escrow/attorney fees: New Jersey typically uses attorneys to close real estate transactions.

Home Values & Loan Context

With a median home value of $480,000 in New Jersey, a 10% down payment buyer would borrow around $432,000. The conforming loan limit is $1,089,300 — All New Jersey counties qualify for high-cost conforming limits, ranging from $952,750 to $1,089,300 depending on the county.

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