PlainLender
2024 data HMDA 2024 disclosure official source

Cape May County

6,403 mortgage applications, 16.4% denial rate. Verify FIPS 34009 with U.S. Census Bureau →

PlainLender home → About this data

New Jersey · FIPS 34009

Local mortgage market. Cape May County, New Jersey saw 6,403 HMDA-reported mortgage applications in 2024. Lenders originated 3,569 of those loans and denied 1,047, producing a denial rate of 16.4% and an approval (origination) rate of 55.7%. The average loan amount was $446,282 at an average note rate of 7.31%, with applicants self-reporting average annual income of $37K. 311 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 12.1x, meaning typical borrowers took on mortgages of about 12.1 times their annual income. That ratio is a rough affordability signal: higher multiples imply tighter monthly budgets and greater exposure to rate or income shocks. See our methodology for how to read the denial rate against a local applicant pool.

FIPS 34009 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

6,403
Applications
3,569
Originated
16.4%
Denial Rate
55.7%
Approval Rate
$446,282
Avg Loan Amount
7.31%
Avg Interest Rate
$37K
Avg Applicant Income
12.1x
Loan-to-Income Ratio

Nearby Lenders in Cape May County

Top HMDA-reporting lenders active in this county. Compare any two side-by-side for rates, denial rates, and loan mix.

# Lender Originated Market Share
1 CBNA Year to Date 290 8.1%
2 Rocket Mortgage 190 5.3%
3 OceanFirst Bank, N.A. 152 4.3%
4 TD Bank 140 3.9%
5 Police and Fire Federal Credit Union 113 3.2%
Compare CBNA Year to Date vs Rocket Mortgage →

Frequently Asked Questions

How many mortgage applications were filed in Cape May County?
In the 2024 HMDA reporting year, 6,403 mortgage applications were filed in Cape May County, New Jersey. Of these, 3,569 were originated (approved and funded), while 1,047 were denied, resulting in a denial rate of 16.4%.
What is the mortgage denial rate in Cape May County?
The mortgage denial rate in Cape May County is 16.4%. The approval (origination) rate is 55.7%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Cape May County?
The average mortgage loan amount in Cape May County is $446,282. The average interest rate is 7.310%. The average applicant income is $37K.
What is the loan-to-income ratio in Cape May County?
The average loan-to-income ratio in Cape May County is 12.1x, meaning borrowers took on loans averaging 12.1 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Cape May County?
The top mortgage lenders in Cape May County by origination volume are CBNA Year to Date, Rocket Mortgage, OceanFirst Bank, N.A.. In total, 311 lenders reported mortgage activity in this county.
Where does this mortgage data come from?
This data comes from the CFPB HMDA 2024 Snapshot National Loan-Level Dataset, a mandatory federal disclosure dataset covering all mortgage applications filed with HMDA-reporting institutions. County boundaries are identified by FIPS codes.

Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024. County FIPS codes per U.S. Census Bureau standards.

Data from FFIEC / CFPB HMDA Snapshot National Loan-Level Dataset (2024). Provided for informational purposes only.

Read our methodology - how this data is sourced, computed, and verified.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.