The Mortgage Record
Lender report card · New Jersey

Jersey Mortgage Company

Cranford, NJ · What the federal mortgage record shows about how Jersey Mortgage Company treated New Jersey applicants, 2018–2025 — 5,026 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
84.4%
4,241 approved
Denial rate
15.6%
785 denied
Decisions
5,026
2018–2025
Avg. rate spread
+0.64 pp
vs. market benchmark
84.4% approved
15.6% denied

Share of 5,026 New Jersey applications Jersey Mortgage Company approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional88.3% of 3,324 · NJ 87%FHA76.4% of 1,576 · NJ 79%VA79.8% of 99 · NJ 80%USDA85.2% of 27 · NJ 87%

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

Approval rate over time

74%77%80%83%86%89%83%86%87%84%82%83%78%2018201920202021202220232024

Pricing

Adjusting for its loan-type mix, Jersey Mortgage Company’s rates ran +0.21 pp higher than the typical New Jersey lender (average rate spread +0.64 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Jersey Mortgage Company approves

By income
Under $50k62.7% · 276$50–75k80.2% · 918$75–100k81.9% · 1,208$100–150k86.8% · 1,502$150–250k91.9% · 887$250k+95.3% · 235
By debt-to-income
Under 36%96.1% · 82136–43%95.3% · 70943–50%94.5% · 1,069Over 50%78.8% · 326
By down payment (LTV)
20%+ down94.8% · 96410–20% down95.4% · 3035–10% down94.6% · 4423–5% down90.7% · 419Under 3% down80.0% · 175

Why Jersey Mortgage Company denied applications

Debt-to-income ratio34% of denialsCollateral (value/type)21% of denialsOther18% of denialsCredit history14% of denialsInsufficient cash to close11% of denialsEmployment history10% of denials

Where Jersey Mortgage Company lends in NJ

CountyDecisionsApproval
Essex County93577.1%
Middlesex County80485.3%
Union County66285.8%
Monmouth County40494.6%
Somerset County32587.4%
Morris County27489.1%
Passaic County27378.8%
Bergen County24380.2%

Fees & closing costs

Median total loan costs
$8,131
home purchase
As % of loan
2.87%
NJ median 1.93%
Priced originations
3,028
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Jersey Mortgage Company’s home-purchase originations — 0.93 points higher than the 1.93% New Jersey median. Typical lender credit toward costs: $75. 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 Jersey Mortgage Company (LEI 549300WEZMN6QE5IIH42). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →