New Jersey Closing Cost Calculator
Estimate New Jersey closing costs for buyers and sellers. Transfer tax: 0.4%. Average total: 3.5% of price.
How This Calculator Works
Calculation methodology and assumptions
Closing costs in New Jersey typically range from 3% to 4% of the purchase price. This calculator estimates individual line items including title insurance (0.5% of price), transfer taxes (0.4% in New Jersey), recording fees, loan origination fees (1% of loan), appraisal, inspection, and escrow/prepaids. New Jersey requires an attorney for real estate closings.
Frequently Asked Questions
How much are closing costs in New Jersey?
Closing costs in New Jersey average 3.5% of the purchase price. On a $470,000 home, that's approximately $16,450.
Does New Jersey have transfer taxes?
Yes, New Jersey has a transfer tax of 0.4% of the sale price. On a $470,000 sale, that's $1,880.
Do I need an attorney to close in New Jersey?
Yes, New Jersey is an "attorney state" — you are required to have an attorney present at closing.
Who pays closing costs in New Jersey?
In New Jersey, both buyers and sellers have closing costs. Buyers typically pay loan-related fees, appraisal, inspection, and their share of prepaids. Sellers usually pay real estate agent commissions and their share of transfer taxes. Some costs are negotiable between the parties.
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