Jersey Shore Federal Credit Union Mortgage Rates, Fees & Info
Northfield, NJLEI: 5493006VI8ZWLFWG2K57
Tax ID: 22-1733411
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Jersey Shore Federal Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Jersey Shore Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Atlantic City, Ocean City, Philadelphia, and Vineland among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Jersey Shore Federal Credit Union 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.
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Originations
87Origination Dollar Volume (All Markets)
$4,955,000Top 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 |
|---|---|---|---|---|---|
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 60 | $3,460,000 | $57,667 | $0 | 3.37% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 19 | $985,000 | $51,842 | $0 | 2.99% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 6 | $440,000 | $73,333 | $0 | 0.00% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 4.49% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 87 | $4,955,000 | $56,954 | $0 | 3.37% |
For 2020, Jersey Shore Federal Credit Union's most frequently originated type of loan was Conventional, with 87 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 46 | $2,600,000 | $56,522 | $0 | 3.46% |
| Other | 41 | $2,355,000 | $57,439 | $0 | 3.12% |
For 2020, Jersey Shore Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 46 originations. The 2nd most popular reason was Other, with 41 originations.
Loan Duration/Length
For 2020, Jersey Shore Federal Credit Union's most frequently cited loan duration was 5 Year, with 35 originations. The 2nd most popular length was Other, with 22 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 8 | $320,000 | $40,000 |
| 3-4% | 5 | $455,000 | $91,000 |
| 4-5% | 2 | $60,000 | $30,000 |
During 2020, Jersey Shore Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 8 originations.
Loan Sizing
2020 saw Jersey Shore Federal Credit Union place emphasis on $100,000 or less loans with 74 originations, totaling $3,120,000 in origination value.
Applicant Income
Jersey Shore Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $150k-250k, with 17 originations.
Applicant Debt to Income Ratio
Jersey Shore Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 27 originations. The next most common DTI ratio? <20%, with 18 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.25%
Jersey Shore Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination85.06%
Jersey Shore Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 250.0 | 3 | $35,000 | $11,667 |
| NA | 84 | $4,920,000 | $58,571 |