No. of Recommendations: 0
One option is to split the difference. Get a smaller mortgage, maybe 20%-50% loan-to-value. This hedges your risk but also reduces your potential gains.

I haven't checked NJ rates - nor checked in the past few months.
But I know in my area in CA (which also has the higher "conforming" limit) there was a interest rate / cost-of-loan difference between below $417500 and above. (I think they called it "conforming" below $417.5k and "conforming jumbo" for the $417500-$6xx000 range)

So I'd check options for under/over that ~$417K amount

And that'd also put you around 50% LTV

Good luck
Print the post  


Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.