South Jersey Mortgage Rates, Fees & Info

Deptford, NJ

LEI: 5493002P6EVQ94HFYF14

Tax ID: 21-0641594

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    South Jersey is a smaller mortgage company specializing in Refi and Cash Out Refi loans. South Jersey has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Philadelphia, Atlantic City, Vineland, New York, and Ocean City among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    South Jersey has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. South Jersey is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.60% 12/16/24
    30 Year Conventional Refi 6.40% 12/16/24
    30 Year Cash-out Refi 6.60% 12/16/24
    15 Year Conventional Purchase 6.55% 12/16/24
    15 Year Conventional Refi 7.28% 12/16/24
    15 Year Cash-out Refi 7.28% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    South Jersey Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from South Jersey. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    368

    Origination Dollar Volume (All Markets)

    $31,250,000

    Awards

    SOUTH JERSEY 30 Year Conventional Loans gold SOUTH JERSEY 30 Year Conventional Loans gold SOUTH JERSEY 30 Year Conventional Loans bronze
    Show all (3) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 241 $19,995,000 $82,967 $928 3.89%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 73 $5,555,000 $76,096 $962 3.59%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 20 $1,420,000 $71,000 $746 4.62%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 11 $1,325,000 $120,455 $1,129 4.30%
    OCEAN CITY, NJ (FHA|USDA|VA) 11 $1,295,000 $117,727 $936 4.76%
    WILLIAMSPORT, PA (FHA|USDA|VA) 7 $765,000 $109,286 $1,814 3.41%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $490,000 $245,000 $3,435 3.31%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $275,000 $275,000 $3,244 3.13%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $85,000 $85,000 $2,660 3.00%
    ERIE, PA (FHA|USDA|VA) 1 $45,000 $45,000 $102 4.23%
    South Jersey's top markets include Philadelphia, Atlantic City, Vineland, New York, and Ocean City among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SOUTH JERSEY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Louviers Federal Credit Union
    Similarity Rank: 410
    BHCU
    Similarity Rank: 504
    Columbia Bank
    Similarity Rank: 1105
    FEDERATED LENDING CORPORATION
    Similarity Rank: 1448
    AmeriServ Financial Bank
    Similarity Rank: 1505
    MILLENIUM HOME MORTGAGE, LLC
    Similarity Rank: 2052
    Dover Federal Credit Union
    Similarity Rank: 2208
    Penn Community Bank
    Similarity Rank: 2431
    PINNACLE MORTGAGE, INC.
    Similarity Rank: 2603
    SOUTH JERSEY
    Similarity Rank: 2920

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 366 $31,120,000 $85,027 $973 3.89%
    Reverse Mortgage 1 $75,000 $75,000 $0 0.00%
    FHA 1 $55,000 $55,000 $314 4.99%

    For 2021, South Jersey's most frequently originated type of loan was Conventional, with 366 originations. Their 2nd most popular type was Reverse Mortgage, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 117 $5,815,000 $49,701 $289 4.13%
    Other 117 $6,125,000 $52,350 $313 4.12%
    Refi 61 $6,305,000 $103,361 $1,220 3.92%
    Cash Out Refi 41 $8,165,000 $199,146 $2,908 3.07%
    Home Purchase 32 $4,840,000 $151,250 $2,741 3.20%

    For 2021, South Jersey's most frequently cited loan purpose was Home Improvement, with 117 originations. The 2nd most popular reason was Other, with 117 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 95 $5,065,000 $53,316 $314 4.25%
    Other 87 $5,015,000 $57,644 $378 4.10%
    30 Year 61 $10,995,000 $180,246 $2,842 3.19%
    5 Year 58 $2,310,000 $39,828 $248 3.45%
    15 Year 56 $5,670,000 $101,250 $1,245 4.33%
    20 Year 11 $2,195,000 $199,545 $2,776 3.33%

    For 2021, South Jersey's most frequently cited loan duration was 10 Year, with 95 originations. The 2nd most popular length was Other, with 87 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 180 $18,750,000 $104,167
    $1k-2k 11 $1,865,000 $169,545
    $2k-3k 2 $690,000 $345,000
    $3k-4k 2 $420,000 $210,000
    $4k-5k 1 $245,000 $245,000
    $5k+ 1 $305,000 $305,000

    South Jersey's average total fees were $2,842, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 180 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 136 $13,160,000 $96,765
    2.5-3% 119 $11,095,000 $93,235
    4-5% 38 $1,910,000 $50,263
    5-6% 33 $1,655,000 $50,152
    <2.5% 14 $1,940,000 $138,571
    Over 8% 10 $400,000 $40,000
    6-7% 5 $375,000 $75,000
    7-8% 5 $195,000 $39,000

    During 2021, South Jersey's average interest rate for loans was 3.19%, while their most frequently originated rate bucket for loans was 3-4%, with 136 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 266 $12,670,000 $47,632 $374 4.15%
    $100k-200k 73 $10,605,000 $145,274 $2,110 3.27%
    $200k-400k 27 $6,925,000 $256,481 $3,341 3.06%
    $400k-600k 1 $425,000 $425,000 $3,977 4.00%
    $600k-1MM 1 $625,000 $625,000 $4,785 3.00%

    2021 saw South Jersey place emphasis on $100,000 or less loans with 266 originations, totaling $12,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 92 $8,020,000 $87,174 $945 3.89%
    $50k-75k 83 $5,975,000 $71,988 $875 3.71%
    $75k-100k 65 $4,915,000 $75,615 $880 3.91%
    $150k-250k 60 $7,320,000 $122,000 $1,250 4.17%
    $50k or less 54 $3,400,000 $62,963 $894 3.86%
    $250k+ 14 $1,620,000 $115,714 $1,229 3.80%

    South Jersey lent most frequently to those with incomes in the $100k-150k range, with 92 originations. The second most popular income band? $50k-75k, with 83 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 76 $7,180,000 $94,474 $1,012 3.52%
    30-36% 66 $6,020,000 $91,212 $1,045 3.89%
    50-60% 51 $3,055,000 $59,902 $509 4.25%
    <20% 34 $2,740,000 $80,588 $849 3.54%
    42% 17 $1,605,000 $94,412 $1,492 3.53%
    39% 13 $1,275,000 $98,077 $1,329 4.28%
    41% 13 $845,000 $65,000 $501 4.75%
    45% 12 $1,070,000 $89,167 $1,249 4.08%
    48% 11 $535,000 $48,636 $644 4.07%
    36% 11 $1,465,000 $133,182 $1,854 4.62%
    43% 9 $815,000 $90,556 $1,279 3.49%
    40% 9 $1,035,000 $115,000 $1,365 4.24%
    37% 8 $650,000 $81,250 $1,111 3.23%
    49% 7 $585,000 $83,571 $826 4.28%
    47% 7 $405,000 $57,857 $832 4.17%
    38% 6 $440,000 $73,333 $674 3.78%
    44% 5 $305,000 $61,000 $317 4.39%
    >60% 5 $735,000 $147,000 $1,716 3.32%
    46% 2 $90,000 $45,000 $291 4.49%

    South Jersey lent most frequently to those with DTI ratios of 20-30%, with 76 originations. The next most common DTI ratio? 30-36%, with 66 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 242 $19,950,000 $82,438 $887 3.87%
    Not provided 35 $5,795,000 $165,571 $2,377 3.18%
    Black 63 $4,015,000 $63,730 $748 4.33%
    Asian 10 $700,000 $70,000 $504 4.09%
    Not applicable 13 $565,000 $43,462 $258 3.72%
    American Indian 2 $100,000 $50,000 $174 5.17%
    Native Hawaiian or Islander 1 $75,000 $75,000 $456 4.49%
    Asian Indian 1 $35,000 $35,000 $176 3.99%
    Vietnamese 1 $15,000 $15,000 $168 2.99%

    Approval Rates

    Total approvals of all applications
    79.83%

    South Jersey has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    71.20%

    South Jersey has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 368 $31,250,000 $84,918

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    368 $31,250,000 $84,918

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 89 $6,005,000 $67,472 $472 4.34%
    40-60% 38 $5,030,000 $132,368 $1,627 3.31%
    60-80% 56 $8,990,000 $160,536 $2,405 3.23%
    80-100% 30 $5,040,000 $168,000 $2,519 3.32%
    Under 20% 151 $5,855,000 $38,775 $258 4.13%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    South Carolina State Housing Finance and Development Authority Conventional home mortgage Trouble during payment process 1 50.0%
    South Carolina State Housing Finance and Development Authority FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%