Newark Mortgage Calculator
Estimate your monthly mortgage payment in Newark, NJ. On the local median home value of $470,000 — with a 20% down payment at today's rates — expect a total monthly payment (principal, interest, taxes, and insurance) of about $3,427. Adjust every input for your situation.
Monthly Breakdown
- Principal & Interest$2,377
- Property Tax$975
- Home Insurance$75
Amortization Schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $28,519 | $4,203 | $24,316 | $371,797 |
| 2 | $28,519 | $4,484 | $24,035 | $367,313 |
| 3 | $28,519 | $4,784 | $23,734 | $362,529 |
| 4 | $28,519 | $5,105 | $23,414 | $357,424 |
| 5 | $28,519 | $5,447 | $23,072 | $351,977 |
| 6 | $28,519 | $5,811 | $22,707 | $346,166 |
| 7 | $28,519 | $6,201 | $22,318 | $339,965 |
| 8 | $28,519 | $6,616 | $21,903 | $333,349 |
| 9 | $28,519 | $7,059 | $21,460 | $326,290 |
| 10 | $28,519 | $7,532 | $20,987 | $318,758 |
| 11 | $28,519 | $8,036 | $20,483 | $310,722 |
| 12 | $28,519 | $8,574 | $19,944 | $302,148 |
| 13 | $28,519 | $9,149 | $19,370 | $292,999 |
| 14 | $28,519 | $9,761 | $18,758 | $283,237 |
| 15 | $28,519 | $10,415 | $18,104 | $272,822 |
| 16 | $28,519 | $11,113 | $17,406 | $261,710 |
| 17 | $28,519 | $11,857 | $16,662 | $249,853 |
| 18 | $28,519 | $12,651 | $15,868 | $237,202 |
| 19 | $28,519 | $13,498 | $15,021 | $223,704 |
| 20 | $28,519 | $14,402 | $14,117 | $209,301 |
| 21 | $28,519 | $15,367 | $13,152 | $193,935 |
| 22 | $28,519 | $16,396 | $12,123 | $177,539 |
| 23 | $28,519 | $17,494 | $11,025 | $160,045 |
| 24 | $28,519 | $18,666 | $9,853 | $141,379 |
| 25 | $28,519 | $19,916 | $8,603 | $121,464 |
| 26 | $28,519 | $21,249 | $7,269 | $100,214 |
| 27 | $28,519 | $22,673 | $5,846 | $77,542 |
| 28 | $28,519 | $24,191 | $4,328 | $53,351 |
| 29 | $28,519 | $25,811 | $2,708 | $27,540 |
| 30 | $28,519 | $27,540 | $979 | $0 |
Swipe the table sideways to see all columns →
How to use this calculator
The Home Price field is pre-filled with the median home value in Newark (about $470,000). Override with your target home's actual price to get a payment estimate for that specific property.
The Property Tax Rate is pre-filled with New Jersey's average effective rate of 2.49%. Within New Jersey, rates vary by county — if you know your specific local rate, override it for a more precise estimate.
Adjust the Down Payment slider to see how your payment changes. Below 20% down triggers PMI; the calculator adds it automatically and shows a warning.
Scroll down for the full PITI breakdown, monthly payment pie chart, and complete month-by-month amortization schedule.
How it works
Buying a median-priced home in Newark. At $470,000 with a 20% down payment, you'd bring $94,000 to closing (plus closing costs) and take out a $376,000 mortgage. At a 6.50% interest rate on a 30-year fixed loan, your monthly principal + interest is roughly $2,377.
Annual costs on top of the loan. New Jersey's average property tax rate is 2.49%, so a median-priced Newark home generates approximately $11,703 in annual property tax (about $975/mo when paid through escrow). Homeowner's insurance in New Jersey averages around $900/year.
Total monthly payment (PITI) on the median Newark home works out to about $3,427 per month at current rates, assuming a 20% down payment and no HOA. If you're putting less than 20% down, add PMI to this — typically 0.5–1.5% of the loan balance per year.
Rates change; this is the math, not the offer. Mortgage rates fluctuate daily. Our default of 6.50% is a recent conventional 30-year benchmark — enter today's quoted rate from your lender for the most accurate payment estimate.
Frequently Asked Questions
Looking for a different city? Browse all cities. For New Jersey-specific property taxes, see the New Jersey Property Tax Calculator.