The Mortgage Record
Lender report card · New Jersey

Valley National Bank

Morristown, NJ · What the federal mortgage record shows about how Valley National Bank treated New Jersey applicants, 2018–2025 — 12,653 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
91.7%
11,599 approved
Denial rate
8.3%
1,054 denied
Decisions
12,653
2018–2025
Avg. rate spread
+0.14 pp
vs. market benchmark
91.7% approved
8.3% denied

Share of 12,653 New Jersey applications Valley National Bank approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional92.0% of 12,399 · NJ 87%FHA74.3% of 230 · NJ 79%

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

Approval rate over time

81%85%89%93%97%90%91%92%95%92%88%88%84%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, Valley National Bank’s rates ran -0.10 pp lower than the typical New Jersey lender (average rate spread +0.14 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Valley National Bank approves

By income
Under $50k65.7% · 548$50–75k86.5% · 1,461$75–100k90.3% · 1,766$100–150k92.3% · 2,882$150–250k94.8% · 3,093$250k+96.7% · 2,655
By debt-to-income
Under 36%96.2% · 6,11036–43%95.2% · 3,95443–50%93.1% · 1,987Over 50%17.8% · 583
By down payment (LTV)
20%+ down93.2% · 8,86010–20% down87.6% · 6765–10% down88.8% · 8313–5% down85.7% · 272Under 3% down75.2% · 230

Why Valley National Bank denied applications

Debt-to-income ratio51% of denialsCollateral (value/type)21% of denialsCredit history16% of denialsOther13% of denialsIncomplete application5% of denialsInsufficient cash to close5% of denials

Where Valley National Bank lends in NJ

CountyDecisionsApproval
Bergen County2,36792.3%
Morris County1,34993.2%
Essex County1,30888.8%
Passaic County1,27087.9%
Ocean County1,06396.0%
Monmouth County94691.3%
Cape May County77298.6%
Union County67090.1%

Fees & closing costs

Median total loan costs
$5,368
home purchase
As % of loan
1.24%
NJ median 1.93%
Priced originations
4,754
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Valley National Bank’s home-purchase originations — 0.69 points lower than the 1.93% New Jersey median. Typical lender credit toward costs: $62. 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 Valley National Bank (LEI KI0VI4JRMCIJ329YTN75). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →