The Mortgage Record
Lender report card · New Jersey

Cardinal Financial Company, Li

Charlotte, NC · What the federal mortgage record shows about how Cardinal Financial Company, Li treated New Jersey applicants, 2018–2025 — 18,225 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
65.2%
11,876 approved
Denial rate
34.8%
6,349 denied
Decisions
18,225
2018–2025
Avg. rate spread
+0.42 pp
vs. market benchmark
65.2% approved
34.8% denied

Share of 18,225 New Jersey applications Cardinal Financial Company, Li approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional65.3% of 13,168 · NJ 87%FHA64.2% of 4,477 · NJ 79%VA68.5% of 552 · NJ 80%USDA78.6% of 28 · NJ 87%

“NJ” = the statewide average approval rate for that loan type, for comparison.

Approval rate over time

53%62%71%80%89%87%84%66%57%62%84%89%88%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, Cardinal Financial Company, Li’s rates ran +0.02 pp in line with than the typical New Jersey lender (average rate spread +0.42 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Cardinal Financial Company, Li approves

By income
Under $50k42.7% · 1,619$50–75k61.0% · 2,779$75–100k65.7% · 3,238$100–150k70.2% · 4,929$150–250k71.3% · 3,922$250k+66.5% · 1,655
By debt-to-income
Under 36%64.3% · 7,28136–43%73.9% · 3,73343–50%74.1% · 4,347Over 50%42.8% · 2,699
By down payment (LTV)
20%+ down60.9% · 11,32810–20% down66.9% · 1,9705–10% down73.2% · 1,5233–5% down75.0% · 2,138Under 3% down67.0% · 792

Why Cardinal Financial Company, Li denied applications

Incomplete application70% of denialsDebt-to-income ratio22% of denialsCredit history6% of denialsOther2% of denialsCollateral (value/type)2% of denialsUnverifiable information1% of denials

Where Cardinal Financial Company, Li lends in NJ

CountyDecisionsApproval
Middlesex County1,82969.5%
Monmouth County1,50270.0%
Essex County1,47157.4%
Morris County1,42168.5%
Bergen County1,40762.4%
Ocean County1,37766.5%
Sussex County1,08173.4%
Union County1,06461.1%

Fees & closing costs

Median total loan costs
$9,515
home purchase
As % of loan
3.39%
NJ median 1.93%
Priced originations
4,650
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Cardinal Financial Company, Li’s home-purchase originations — 1.46 points higher than the 1.93% New Jersey median. Typical lender credit toward costs: $91. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

Compare Cardinal Financial Company, Li to other lenders for your profile

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Source: CFPB HMDA loan-level data, 2018–2025 · first-lien, closed-end mortgages on 1–4 family homes in New Jersey reported by Cardinal Financial Company, Li (LEI 549300VORTI31GZTJL53). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →