The Mortgage Record
Lender report card · New Jersey

Lower, Llc

Columbia, MD · What the federal mortgage record shows about how Lower, Llc treated New Jersey applicants, 2018–2025 — 2,479 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
77.1%
1,912 approved
Denial rate
22.9%
567 denied
Decisions
2,479
2018–2025
Avg. rate spread
+0.43 pp
vs. market benchmark
77.1% approved
22.9% denied

Share of 2,479 New Jersey applications Lower, Llc approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional81.2% of 1,919 · NJ 87%FHA62.8% of 479 · NJ 79%VA65.8% of 79 · NJ 80%

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

Approval rate over time

63%68%73%78%83%79%75%83%82%66%72%79%73%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, Lower, Llc’s rates ran +0.10 pp higher than the typical New Jersey lender (average rate spread +0.43 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Lower, Llc approves

By income
Under $50k52.2% · 136$50–75k70.0% · 347$75–100k77.1% · 475$100–150k79.2% · 707$150–250k82.9% · 580$250k+82.9% · 193
By debt-to-income
Under 36%84.0% · 82636–43%84.7% · 58243–50%80.2% · 671Over 50%45.4% · 335
By down payment (LTV)
20%+ down79.1% · 1,47610–20% down76.5% · 3365–10% down73.4% · 2863–5% down79.8% · 119Under 3% down56.6% · 113

Why Lower, Llc denied applications

Incomplete application32% of denialsDebt-to-income ratio27% of denialsCredit history15% of denialsOther12% of denialsCollateral (value/type)10% of denialsInsufficient cash to close4% of denials

Where Lower, Llc lends in NJ

CountyDecisionsApproval
Middlesex County24076.2%
Burlington County20081.5%
Ocean County19679.6%
Bergen County18584.3%
Camden County18078.3%
Monmouth County17978.8%
Morris County15577.4%
Essex County13772.3%

Fees & closing costs

Median total loan costs
$8,094
home purchase
As % of loan
2.52%
NJ median 1.93%
Priced originations
444
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Lower, Llc’s home-purchase originations — 0.58 points higher than the 1.93% New Jersey median. Typical lender credit toward costs: $1,359. 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 Lower, Llc (LEI 549300RN01LBYR8ZVX74). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →