The Elizabeth housing market is competitive, with a mix of new developments and historic homes. The median home price in Elizabeth is $420,000, which is relatively affordable compared to other areas in New Jersey. However, prices vary by neighborhood and property type. For example, homes in the Downtown Elizabeth area tend to be more expensive, while homes in the Elmora neighborhood may be more affordable.

Some popular neighborhoods in Elizabeth include:

• Downtown Elizabeth: Known for its vibrant nightlife and shopping scene.
• Elmora: Offers a more suburban feel with tree-lined streets and historic homes.
• West End: Features beautiful parks and outdoor spaces.

When buying a home in Elizabeth, it's essential to research the local market trends and neighborhood amenities. Contact NMHL for current market data and to get pre-approved for a mortgage.

Property taxes in Elizabeth average approximately 2.20% of assessed value. This translates to manageable monthly costs when factored into your mortgage payment. For example, on a $420,000 home, you can expect to pay around $9,240 per year in property taxes.

It's essential to consider property taxes when calculating your overall housing costs in Elizabeth. Our loan officers can help you understand how property taxes affect your mortgage payment and provide guidance on how to minimize your tax liability.

Elizabeth has a range of school districts, including the Elizabeth Public Schools district, which serves students from pre-K to 12. The district has several highly-rated schools, including Elizabeth High School and Thomas Jefferson School.

When buying a home in Elizabeth, it's essential to research the local school districts and their impact on home values. Some neighborhoods may have better school districts than others, which can affect resale value and quality of life. Our loan officers can provide guidance on how to research local schools and find a home that meets your needs.

New Jersey offers several first-time homebuyer programs that can help make homeownership more affordable in Elizabeth. The New Jersey Housing Finance Agency (NJHFA) offers programs like the First-Time Homebuyer Program, which provides low-interest mortgages and down payment assistance.

NMHL also offers specialty loans for first-time buyers, including FHA loans with low down payment requirements. Our loan officers can help you explore your options and find a mortgage program that fits your needs. Contact us to learn more about these programs and get pre-approved for a mortgage.

At NMHL, we understand that not all borrowers have the same financial situation. That's why we offer a range of programs for underserved borrowers, including:

• FHA loans with low down payment requirements
• VA loans for veterans and active military
• Specialty loans for self-employed borrowers
• Bad credit mortgage options

Our loan officers can help you explore your options and find a mortgage program that fits your needs. Contact us to learn more about our programs and get pre-approved for a mortgage.

New Jersey offers several down payment assistance programs that can help make homeownership more affordable in Elizabeth. The New Jersey Housing Finance Agency (NJHFA) offers programs like the Down Payment Assistance Program, which provides up to 5% of the purchase price in down payment assistance.

NMHL also offers down payment assistance options, including FHA loans with low down payment requirements. Our loan officers can help you explore your options and find a mortgage program that fits your needs. Contact us to learn more about these programs and get pre-approved for a mortgage.