Home Buyer Closing Costs in New Jersey

A Home Buyer’s closing costs in New Jersey typically range from 2 to 3 percent of the homes sale price.  The majority of the expenses below are paid at closing.  The Buyer’s Closing Costs list below is only an approximation of the costs a buyer may encounter when buying a home in New Jersey. It is not an exhaustive list.  The actual costs incurred may vary by provider.

If you will be getting a mortgage to finance your home purchase, you may also want to check out my mortgage calculator for an approximate mortgage payment per month, as well as your approximate costs over the life of the mortgage.  For more information about the mortgage process and your mortgage options, go to the Prosperity Mortgage website.

For more information on the Home Buying Process, please give me a call at 908-656-1782.

Legal Fees and Title Costs

Mortgage Costs

Points are a fee to the lender to “buy down” the interest rate on a mortgage.
1 point = 1% of mortgage.  For example, 1 point on a $800,000 mortgage = $8,000

Inspection Costs

Additional inspections if needed such as Asbestos, Mold, Chimney, or structural engineer.  Costs vary.

Additional Expenses

The NJ Mansion Tax on residential properties is 1% of the total consideration, if the purchase price exceeds $1,000,000.