08873, Somerset, NJ

The home equity and home prices in the zip code of 8873 in Somerset, NJ have seen a steady increase over the past several years. In fact, according to Zillow, the median home value in this zip code is currently $269,000. This represents a 12% increase from the median home value of $242,000 that was recorded back in 2016.

One reason why home values have been on the rise in this zip code is because there are a number of high-quality homes available for sale. Additionally, many homeowners here have taken advantage of low interest rates to refinance their mortgages and boost their home equity values.

While there are certainly benefits to owning a home equity loan or mortgage, it’s important to remember that these loans can also be risky if you don’t understand how they work. If you find yourself struggling to make your payments or if your lender decides to foreclose on your property, it could result in serious financial consequences. That’s why it’s important to consult with an experienced mortgage lender before making any decisions about purchasing or refinancing a property.