Question 1

What do I need to buy my first home in Nueva Jersey?

Accepted Answer

Pre-approval letter, 3.5-20% down payment depending on loan type (FHA 3.5%, conventional 5-20%), closing cost funds (2-5% of purchase price), a real estate agent, and a home inspector. Jorge Ramirez walks first-time buyers through every step — no charge until closing.

Question 2

How much does a down payment on a NJ home really need to be?

Accepted Answer

For a median NJ home around $600K, expect: FHA 3.5% = $21K, conventional 5% = $30K, conventional 10% = $60K, conventional 20% = $120K (avoids PMI). The NJ Housing and Hipoteca Finance Agency also offers down-payment assistance programs for qualifying first-time buyers.

Question 3

What are closing costs for a first-time buyer in NJ?

Accepted Answer

Expect 2-5% of purchase price in buyer closing costs: attorney ($1,500-2,500), title insurance ($2,000-4,000), mansion tax if >$1M (1% over $1M), appraisal ($500-700), inspection ($500-700), and prepaid property tax + insurance. Use our free NJ closing-costs calculator to estimate your exact number.

Guía del Comprador Primerizo de Vivienda en Nueva Jersey (2026)