The Mortgage Record
Lender report card · New Jersey

Municipal Credit Union

New York, NY · What the federal mortgage record shows about how Municipal Credit Union treated New Jersey applicants, 2018–2025 — 880 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
67.6%
595 approved
Denial rate
32.4%
285 denied
Decisions
880
2018–2025
Avg. rate spread
-0.21 pp
vs. market benchmark
67.6% approved
32.4% denied

Share of 880 New Jersey applications Municipal Credit Union approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional67.8% of 878 · NJ 87%

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

Approval rate over time

30%47%64%81%98%46%63%33%46%84%80%92%98%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, Municipal Credit Union’s rates ran -0.43 pp lower than the typical New Jersey lender (average rate spread -0.21 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Municipal Credit Union approves

By income
$50–75k48.2% · 83$75–100k57.3% · 143$100–150k61.2% · 237$150–250k72.3% · 191$250k+95.3% · 191
By debt-to-income
Under 36%70.8% · 40436–43%77.0% · 22243–50%69.8% · 149Over 50%10.7% · 56
By down payment (LTV)
20%+ down75.8% · 50910–20% down56.8% · 745–10% down63.4% · 112

Why Municipal Credit Union denied applications

Incomplete application46% of denialsCredit history22% of denialsDebt-to-income ratio20% of denialsCollateral (value/type)8% of denialsOther7% of denialsInsufficient cash to close7% of denials

Where Municipal Credit Union lends in NJ

CountyDecisionsApproval
Essex County15274.3%
Bergen County15161.6%
Union County12677.0%
Middlesex County10262.7%
Hudson County7959.5%
Monmouth County7266.7%
Ocean County3878.9%

Fees & closing costs

Median total loan costs
$5,850
home purchase
As % of loan
1.33%
NJ median 1.93%
Priced originations
384
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Municipal Credit Union’s home-purchase originations — 0.60 points lower than the 1.93% New Jersey median. Typical lender credit toward costs: $1,125. 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 Municipal Credit Union (LEI 2549006T9J2DMLJVRS64). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →