07848, Lafayette, NJ

Home equity is the difference between the market value of a home and what a homeowner owes on their mortgage. In Lafayette, NJ, the median home value is $269,200 and the median mortgage balance is $146,000. This means that homeowners in this zip code have a total home equity of $235,200.

The average rate on a 30-year fixed-rate mortgage in Lafayette was 4.02% as of February 2019. This means that if you borrow $100,000 at 4.02%, you will need to pay back $106,898 over the course of 30 years. The interest rate can change over time so please consult with a lender to get an accurate quote for your specific situation.

Home prices in Lafayette have increased by 6% since January 2018 according to Zillow data. This suggests that there is strong demand for homes in this zip code and that buyers are willing to pay more for properties that are located here.