The Mortgage Record
Lender report card · New Jersey

Flagstar Bank Na

Troy, MI · What the federal mortgage record shows about how Flagstar Bank Na treated New Jersey applicants, 2018–2025 — 8,244 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
71.0%
5,857 approved
Denial rate
29.0%
2,387 denied
Decisions
8,244
2018–2025
Avg. rate spread
+0.48 pp
vs. market benchmark
71.0% approved
29.0% denied

Share of 8,244 New Jersey applications Flagstar Bank Na approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional72.9% of 6,773 · NJ 87%FHA59.0% of 1,123 · NJ 79%VA75.5% of 323 · NJ 80%USDA48.0% of 25 · NJ 87%

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

Approval rate over time

51%57%63%69%75%74%75%74%74%68%57%60%55%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, Flagstar Bank Na’s rates ran +0.18 pp higher than the typical New Jersey lender (average rate spread +0.48 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Flagstar Bank Na approves

By income
Under $50k52.8% · 472$50–75k68.2% · 1,179$75–100k72.4% · 1,426$100–150k73.9% · 2,262$150–250k74.4% · 1,884$250k+69.1% · 916
By debt-to-income
Under 36%78.9% · 2,93136–43%75.7% · 2,02343–50%72.7% · 2,201Over 50%34.8% · 994
By down payment (LTV)
20%+ down73.4% · 5,09410–20% down66.7% · 7535–10% down67.2% · 5823–5% down61.4% · 546Under 3% down51.1% · 225

Why Flagstar Bank Na denied applications

Incomplete application53% of denialsDebt-to-income ratio27% of denialsCredit history27% of denialsOther17% of denialsCollateral (value/type)9% of denialsUnverifiable information2% of denials

Where Flagstar Bank Na lends in NJ

CountyDecisionsApproval
Ocean County1,44976.5%
Monmouth County98976.5%
Bergen County96968.1%
Middlesex County63568.5%
Essex County49061.6%
Union County44965.7%
Burlington County44378.8%
Morris County35671.3%

Fees & closing costs

Median total loan costs
$6,245
home purchase
As % of loan
2.22%
NJ median 1.93%
Priced originations
2,524
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Flagstar Bank Na’s home-purchase originations — 0.29 points higher than the 1.93% New Jersey median. Typical lender credit toward costs: $592. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

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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 Flagstar Bank Na (LEI SS1TRMSN6BRNMOREEV51). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →