The Mortgage Record
Lender report card · New Jersey

Stearns Lending, Llc

Chicago, IL · What the federal mortgage record shows about how Stearns Lending, Llc treated New Jersey applicants, 2018–2025 — 1,506 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
78.6%
1,183 approved
Denial rate
21.4%
323 denied
Decisions
1,506
2018–2025
Avg. rate spread
+0.39 pp
vs. market benchmark
78.6% approved
21.4% denied

Share of 1,506 New Jersey applications Stearns Lending, Llc approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional80.2% of 1,156 · NJ 87%FHA72.4% of 297 · NJ 79%VA80.0% of 40 · NJ 80%

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

Approval rate over time

71%78%85%92%99%79%80%74%82%100%20182019202020212022

Pricing

Adjusting for its loan-type mix, Stearns Lending, Llc’s rates ran +0.04 pp higher than the typical New Jersey lender (average rate spread +0.39 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Stearns Lending, Llc approves

By income
Under $50k71.4% · 105$50–75k74.9% · 275$75–100k77.6% · 286$100–150k80.4% · 409$150–250k81.0% · 321$250k+82.7% · 104
By debt-to-income
Under 36%82.6% · 64536–43%78.1% · 37943–50%79.4% · 344Over 50%56.6% · 113
By down payment (LTV)
20%+ down80.4% · 87210–20% down77.2% · 1455–10% down73.2% · 973–5% down75.7% · 103

Why Stearns Lending, Llc denied applications

Unverifiable information66% of denialsCollateral (value/type)12% of denialsDebt-to-income ratio11% of denialsInsufficient cash to close9% of denialsCredit history6% of denialsOther4% of denials

Where Stearns Lending, Llc lends in NJ

CountyDecisionsApproval
Bergen County19676.5%
Burlington County15889.9%
Middlesex County12962.8%
Cape May County10285.3%
Monmouth County9979.8%
Essex County9666.7%
Mercer County9384.9%
Ocean County8877.3%

Fees & closing costs

Median total loan costs
$6,710
home purchase
As % of loan
2.82%
NJ median 1.93%
Priced originations
542
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Stearns Lending, Llc’s home-purchase originations — 0.89 points higher than the 1.93% New Jersey median. Typical lender credit toward costs: $1,393. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

Compare Stearns Lending, Llc 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 Stearns Lending, Llc (LEI 549300YOESI1GLKRL151). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →