PlainLender
2024 data HMDA 2024 disclosure official source

Passaic County

13,861 mortgage applications, 20.9% denial rate. Verify FIPS 34031 with U.S. Census Bureau →

PlainLender home → About this data

New Jersey · FIPS 34031

Local mortgage market. Passaic County, New Jersey saw 13,861 HMDA-reported mortgage applications in 2024. Lenders originated 6,113 of those loans and denied 2,895, producing a denial rate of 20.9% and an approval (origination) rate of 44.1%. The average loan amount was $351,958 at an average note rate of 7.43%, with applicants self-reporting average annual income of $41K. 338 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 8.6x, meaning typical borrowers took on mortgages of about 8.6 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 34031 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

13,861
Applications
6,113
Originated
20.9%
Denial Rate
44.1%
Approval Rate
$351,958
Avg Loan Amount
7.43%
Avg Interest Rate
$41K
Avg Applicant Income
8.6x
Loan-to-Income Ratio

Nearby Lenders in Passaic 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 Rocket Mortgage 374 6.1%
2 United Wholesale Mortgage 325 5.3%
3 Crosscountry Mortgage, LLC 301 4.9%
4 TD Bank 233 3.8%
5 Pnc Bank N.A. 210 3.4%
Compare Rocket Mortgage vs United Wholesale Mortgage →

Frequently Asked Questions

How many mortgage applications were filed in Passaic County?
In the 2024 HMDA reporting year, 13,861 mortgage applications were filed in Passaic County, New Jersey. Of these, 6,113 were originated (approved and funded), while 2,895 were denied, resulting in a denial rate of 20.9%.
What is the mortgage denial rate in Passaic County?
The mortgage denial rate in Passaic County is 20.9%. The approval (origination) rate is 44.1%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Passaic County?
The average mortgage loan amount in Passaic County is $351,958. The average interest rate is 7.431%. The average applicant income is $41K.
What is the loan-to-income ratio in Passaic County?
The average loan-to-income ratio in Passaic County is 8.6x, meaning borrowers took on loans averaging 8.6 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Passaic County?
The top mortgage lenders in Passaic County by origination volume are Rocket Mortgage, United Wholesale Mortgage, Crosscountry Mortgage, LLC. In total, 338 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.