New Jersey Mortgage Lending
770 lenders reporting under HMDA
Statewide mortgage activity. Lenders filed 323,471 HMDA-reported mortgage applications in New Jersey in 2024, originating 156,392 loans and denying 58,372. That puts the statewide denial rate at 18.1% and the approval (origination) rate at 48.3%. The average loan amount across New Jersey was $369,966 at an average note rate of 7.39%. 770 distinct institutions — banks, credit unions, and independent mortgage companies — filed HMDA data covering activity in the state. Applications span 21 counties and 10 metropolitan areas.
What drives state-level differences. State mortgage denial rates reflect applicant mix more than lender stance. Credit profiles, loan-to-value ratios, debt-to-income, property type, and rural-versus-urban composition all move the number before any lender policy does. Demographic lending data reported under HMDA shows variation across applicant groups — for example, White applicants had an approval rate of 57.3% and denial rate of 18.4%; while Asian applicants had an approval rate of 52.6% and denial rate of 16.5%. These are derived race categories as reported by applicants and do not by themselves prove causation; credit score, income, and loan-to-value are not reported in HMDA and drive much of the underlying variation. Top counties by volume include Ocean County, Bergen County, Monmouth County.
How to read this page. These are aggregate 2024 HMDA disclosures published by the Consumer Financial Protection Bureau — a federal transparency dataset, not a real-time market feed. A state-level number is useful for context but cannot tell you what rate, fees, or underwriting any individual lender will offer a specific borrower. This page is informational data reporting, not financial, legal, or mortgage advice. Shop at least three lenders, compare Loan Estimates line-by-line, and consult a licensed mortgage professional before applying. Data reflects the CFPB HMDA 2024 Snapshot National Loan-Level Dataset; demographic fields reflect derived categories as reported by applicants.
Nearby Lenders in New Jersey
Top HMDA-reporting lenders active in New Jersey. Compare any two side-by-side for rates, denial rates, and loan mix.
| # | Lender | Originated | Market Share |
|---|---|---|---|
| 1 | ROCKET MORTGAGE | 9,743 | 6.2% |
| 2 | TD Bank | 6,525 | 4.2% |
| 3 | CROSSCOUNTRY MORTGAGE, LLC | 6,426 | 4.1% |
| 4 | United Wholesale Mortgage | 6,114 | 3.9% |
| 5 | CBNA Year to Date | 5,849 | 3.7% |
Lending by Race in New Jersey
Derived race categories as reported under HMDA. Source: CFPB.
| Race | Applications | Approval Rate | Denial Rate |
|---|---|---|---|
| White | 164,614 | 57.3% | 18.4% |
| Asian | 32,211 | 52.6% | 16.5% |
| Black or African American | 25,617 | 44.3% | 27.4% |
| Joint | 5,104 | 61.5% | 13.5% |
| American Indian or Alaska Native | 1,257 | 36.9% | 34.3% |
| 2 or more minority races | 639 | 41.5% | 29.6% |
| Native Hawaiian or Other Pacific Islander | 627 | 34.5% | 41.1% |
Counties in New Jersey
| County | Applications | Originated | Denial Rate | Avg Loan |
|---|---|---|---|---|
| Ocean County | 29,352 | 14,876 | 16.8% | $330,277 |
| Bergen County | 28,279 | 13,429 | 19.0% | $443,874 |
| Monmouth County | 26,102 | 13,205 | 17.2% | $405,153 |
| Middlesex County | 26,056 | 12,091 | 18.8% | $342,216 |
| Essex County | 23,571 | 10,414 | 20.3% | $497,775 |
| Camden County | 21,637 | 10,528 | 18.1% | $219,684 |
| Burlington County | 21,349 | 10,792 | 17.7% | $261,983 |
| Morris County | 17,929 | 9,073 | 15.4% | $456,138 |
| Union County | 16,703 | 7,674 | 19.7% | $424,315 |
| Gloucester County | 14,305 | 7,265 | 17.3% | $222,457 |
| Hudson County | 14,135 | 6,271 | 18.0% | $665,344 |
| Passaic County | 13,861 | 6,113 | 20.9% | $351,958 |
| Mercer County | 12,566 | 6,365 | 16.6% | $311,147 |
| Somerset County | 11,743 | 5,880 | 16.2% | $415,966 |
| Atlantic County | 11,700 | 5,517 | 19.7% | $251,796 |
| Sussex County | 7,837 | 3,630 | 17.1% | $341,994 |
| Cape May County | 6,403 | 3,569 | 16.4% | $446,282 |
| Cumberland County | 5,247 | 2,506 | 19.0% | $189,734 |
| Hunterdon County | 5,173 | 2,647 | 15.9% | $335,518 |
| Warren County | 5,027 | 2,354 | 18.6% | $245,603 |
| Salem County | 2,892 | 1,461 | 17.2% | $197,386 |
Metro Areas in New Jersey
Frequently Asked Questions
How many mortgage applications were filed in New Jersey?
What is the mortgage denial rate in New Jersey?
What is the average mortgage loan amount in New Jersey?
How many mortgage lenders operate in New Jersey?
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Mortgage Lending Guides
Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024. State geography per U.S. Census Bureau standards.
Data from FFIEC / CFPB HMDA Snapshot National Loan-Level Dataset (2024). Demographic data reflects derived categories as reported by applicants. Provided for informational purposes only.
Read our methodology — how this data is sourced, computed, and verified.
