Nj Lenders Corp. Mortgage Rates, Fees & Info
LITTLE FALLS, NJLEI: 549300JZD4L02YZI3Z50
Tax ID: 22-3157857
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Nj Lenders Corp. is a mid-sized mortgage company specializing in Refi and Home Purchase loans. Nj Lenders Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include New York, Philadelphia, Boston, Trenton, and Tampa among others. Nj Lenders Corp. has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Nj Lenders Corp. is typically an average fee lendor.Originations
13,461Origination Dollar Volume (All Markets)
$5,436,345,000Relative Rate
Nj Lenders Corp.'s average 30 year fixed rate mortgage of loans were
2.9%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.25%.
Relative Fees
Nj Lenders Corp.'s average total fees for a 30 year fixed rate
mortgage are $5,347.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 11,504 | $4,737,390,000 | $411,804 | $5,050 | 2.81% |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 456 | $146,700,000 | $321,711 | $4,931 | 2.84% |
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 236 | $131,850,000 | $558,686 | $3,451 | 2.85% |
TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 203 | $77,725,000 | $382,882 | $4,121 | 2.63% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 183 | $51,095,000 | $279,208 | $5,664 | 2.98% |
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 160 | $42,950,000 | $268,438 | $4,885 | 2.96% |
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 90 | $37,900,000 | $421,111 | $5,150 | 2.82% |
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 37 | $21,005,000 | $567,703 | $5,341 | 2.85% |
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 58 | $17,430,000 | $300,517 | $5,415 | 3.00% |
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 26 | $10,960,000 | $421,538 | $4,652 | 2.82% |
WORCESTER, MA-CT (FHA|USDA|VA) | 25 | $9,715,000 | $388,600 | $3,619 | 2.93% |
OCEAN CITY, NJ (FHA|USDA|VA) | 21 | $9,495,000 | $452,143 | $5,269 | 2.76% |
Outside of Metro Areas | 32 | $9,140,000 | $285,625 | $4,724 | 3.00% |
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 28 | $8,380,000 | $299,286 | $5,090 | 2.98% |
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 15 | $7,025,000 | $468,333 | $4,466 | 2.81% |
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 15 | $6,685,000 | $445,667 | $3,864 | 2.85% |
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 21 | $6,345,000 | $302,143 | $5,024 | 2.93% |
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 23 | $5,835,000 | $253,696 | $4,404 | 2.91% |
JACKSONVILLE, FL (FHA|USDA|VA) | 17 | $5,625,000 | $330,882 | $4,402 | 2.81% |
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 17 | $5,535,000 | $325,588 | $4,723 | 2.74% |
EAST STROUDSBURG, PA (FHA|USDA|VA) | 23 | $5,415,000 | $235,435 | $5,931 | 2.95% |
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 10 | $5,260,000 | $526,000 | $4,068 | 2.80% |
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 18 | $5,240,000 | $291,111 | $3,485 | 2.83% |
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 15 | $4,645,000 | $309,667 | $4,114 | 3.02% |
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 13 | $3,865,000 | $297,308 | $4,849 | 3.07% |
PORT ST. LUCIE, FL (FHA|USDA|VA) | 11 | $3,375,000 | $306,818 | $5,592 | 3.02% |
BARNSTABLE TOWN, MA (FHA|USDA|VA) | 8 | $3,260,000 | $407,500 | $2,923 | 2.58% |
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 9 | $3,215,000 | $357,222 | $3,397 | 2.83% |
PITTSBURGH, PA (FHA|USDA|VA) | 10 | $3,150,000 | $315,000 | $4,860 | 2.79% |
Sebastian-Vero Beach, FL (FHA|USDA|VA) | 5 | $2,765,000 | $553,000 | $7,141 | 2.90% |
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 10 | $2,590,000 | $259,000 | $3,990 | 3.12% |
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 8 | $2,480,000 | $310,000 | $5,113 | 2.84% |
SPRINGFIELD, MA (FHA|USDA|VA) | 7 | $2,385,000 | $340,714 | $2,992 | 2.77% |
LANCASTER, PA (FHA|USDA|VA) | 11 | $2,295,000 | $208,636 | $5,350 | 3.19% |
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 9 | $2,275,000 | $252,778 | $3,665 | 2.82% |
KINGSTON, NY (FHA|USDA|VA) | 7 | $2,215,000 | $316,429 | $5,287 | 2.95% |
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 7 | $2,215,000 | $316,429 | $4,735 | 2.64% |
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 10 | $2,110,000 | $211,000 | $6,017 | 3.33% |
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 3 | $1,945,000 | $648,333 | $11,007 | 2.83% |
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 4 | $1,870,000 | $467,500 | $4,039 | 3.09% |
READING, PA (FHA|USDA|VA) | 8 | $1,720,000 | $215,000 | $4,847 | 2.84% |
SALISBURY, MD-DE (FHA|USDA|VA) | 5 | $1,505,000 | $301,000 | $3,561 | 2.90% |
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 5 | $1,165,000 | $233,000 | $4,549 | 2.90% |
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $1,130,000 | $282,500 | $2,719 | 2.47% |
Torrington, CT (FHA|USDA|VA) | 4 | $1,080,000 | $270,000 | $4,143 | 2.97% |
GAINESVILLE, GA (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $3,110 | 3.13% |
NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 4 | $910,000 | $227,500 | $5,178 | 2.91% |
RICHMOND, VA (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $3,896 | 3.09% |
DALTON, GA (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $3,590 | 2.75% |
SAVANNAH, GA (FHA|USDA|VA) | 1 | $825,000 | $825,000 | $9,057 | 3.13% |
Hudson, NY (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $5,511 | 3.13% |
Key West, FL (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $4,755 | 2.69% |
GLENS FALLS, NY (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $4,249 | 2.94% |
UTICA-ROME, NY (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $6,279 | 2.94% |
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,344 | 2.88% |
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $4,085 | 2.87% |
Vineyard Haven, MA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $3,671 | 2.38% |
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $5,300 | 2.56% |
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $5,390 | 2.99% |
Easton, MD (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $2,734 | 2.63% |
PITTSFIELD, MA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $2,908 | 2.81% |
ROCHESTER, NY (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $5,419 | 3.38% |
Cambridge, MD (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,751 | 3.63% |
COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,829 | 3.00% |
SYRACUSE, NY (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $4,155 | 3.08% |
Lewisburg, PA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $5,159 | 2.88% |
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $5,348 | 3.06% |
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,884 | 3.88% |
CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,497 | 3.25% |
KNOXVILLE, TN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,500 | 3.50% |
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $9,544 | 2.88% |
YORK-HANOVER, PA (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $4,005 | 3.13% |
GAINESVILLE, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,094 | 3.13% |
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $8,710 | 3.00% |
JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,523 | 3.25% |
ALTOONA, PA (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,551 | 3.19% |
Malone, NY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,793 | 2.25% |
ELMIRA, NY (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,451 | 2.99% |
FORT COLLINS, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,083 | 2.88% |
STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,415 | 2.50% |
THE VILLAGES, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,342 | 3.13% |
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,437 | 4.13% |
LEBANON, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,592 | 3.63% |
Sevierville, TN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,820 | 3.88% |
St. Marys, GA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,230 | 3.25% |
CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,727 | 3.13% |
MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,006 | 3.13% |
BINGHAMTON, NY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,517 | 3.63% |
WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,014 | 3.38% |
Oneonta, NY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,725 | 3.63% |
Huntingdon, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,420 | 2.63% |
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,851 | 3.63% |
Nj Lenders Corp.'s top markets include New York, Philadelphia, Boston, Trenton, and Tampa among others.
Product Mix
Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Conventional | 12,514 | $5,052,300,000 | $403,732 | $4,490 | 2.82% |
FHA | 782 | $313,790,000 | $401,266 | $12,403 | 2.83% |
VA | 159 | $68,845,000 | $432,987 | $8,495 | 2.60% |
USDA | 6 | $1,410,000 | $235,000 | $6,038 | 2.54% |
For the 2021 period, Nj Lenders Corp.'s most frequently originated loan type of loans were Conventional, with 12,514 originations. Their 2nd most popular type is FHA, with 782 originations.
Loan Reason
Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Refi | 7,520 | $2,843,020,000 | $378,061 | $4,132 | 2.77% |
Home Purchase | 5,875 | $2,567,905,000 | $437,090 | $6,104 | 2.86% |
Cash Out Refi | 66 | $25,420,000 | $385,152 | $4,794 | 3.10% |
For the 2021, Nj Lenders Corp.'s most frequently cited loan purpose of loans were Refi, with 7,520 originations. The 2nd most popular reason of loans were Home Purchase, with 5,875 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
30 Year | 10,559 | $4,466,055,000 | $422,962 | $5,347 | 2.90% |
15 Year | 1,660 | $543,420,000 | $327,361 | $3,713 | 2.39% |
20 Year | 726 | $252,250,000 | $347,452 | $3,729 | 2.68% |
Other | 365 | $134,575,000 | $368,699 | $3,853 | 2.77% |
10 Year | 148 | $40,010,000 | $270,338 | $3,377 | 2.35% |
30+ year | 3 | $35,000 | $11,667 | $0 | 0.00% |
For the 2021, Nj Lenders Corp.'s most frequently cited loan length of loans were 30 Year, with 10,559 originations. The 2nd most popular length of loans were 15 Year, with 1,660 originations.
Origination Fees
Origination Fee | Originations | Total Value | Average Loan |
---|---|---|---|
$1k-2k | 8,277 | $3,353,255,000 | $405,129 |
$<1k | 4,020 | $1,584,550,000 | $394,167 |
$2k-3k | 460 | $173,880,000 | $378,000 |
$3k-4k | 403 | $162,135,000 | $402,320 |
$5k+ | 297 | $160,915,000 | $541,801 |
$5,347 of loans were Nj Lenders Corp.'s average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 8,277 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 6,977 | $2,978,015,000 | $426,833 |
<2.5% | 3,483 | $1,306,115,000 | $374,997 |
3-4% | 2,906 | $1,123,390,000 | $386,576 |
4-5% | 93 | $28,535,000 | $306,828 |
5-6% | 1 | $285,000 | $285,000 |
During 2021, Nj Lenders Corp.'s average interest rate of loans were 2.90%, while their most frequently originated rate bucket of loans were 2.5-3%, with 6,977 originations.
Loan Sizing
Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$200k-400k | 6,303 | $1,925,445,000 | $305,481 | $4,414 | 2.80% |
$400k-600k | 4,297 | $2,073,675,000 | $482,587 | $5,524 | 2.78% |
$600k-1MM | 1,393 | $1,003,405,000 | $720,319 | $6,720 | 2.89% |
$100k-200k | 1,233 | $197,855,000 | $160,466 | $3,718 | 2.93% |
$1MM+ | 180 | $231,730,000 | $1,287,389 | $8,676 | 2.93% |
$100,000 or less | 55 | $4,235,000 | $77,000 | $3,185 | 3.08% |
2021 saw Nj Lenders Corp. place emphasis on $200k-400k loans with 6,303 originations, totaling $1,925,445,000 in origination value.
Applicant Income
Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$150k-250k | 4,086 | $1,784,210,000 | $436,664 | $4,764 | 2.78% |
$100k-150k | 3,948 | $1,476,600,000 | $374,012 | $5,015 | 2.80% |
$250k+ | 2,061 | $1,198,095,000 | $581,317 | $5,182 | 2.83% |
$75k-100k | 1,841 | $596,855,000 | $324,202 | $5,292 | 2.85% |
$50k-75k | 1,175 | $301,105,000 | $256,260 | $4,994 | 2.89% |
$50k or less | 350 | $79,480,000 | $227,086 | $4,826 | 2.85% |
Nj Lenders Corp. lent most frequently to those with incomes in the $150k-250k range, with 4,086 originations. The second most popular income band? $100k-150k, with 3,948 originations.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
20-30% | 3,424 | $1,399,970,000 | $408,870 | $4,400 | 2.75% |
30-36% | 2,532 | $1,030,960,000 | $407,172 | $4,662 | 2.80% |
<20% | 1,137 | $457,205,000 | $402,115 | $4,307 | 2.69% |
41% | 526 | $215,840,000 | $410,342 | $5,183 | 2.93% |
42% | 501 | $212,035,000 | $423,224 | $5,258 | 2.91% |
40% | 489 | $199,155,000 | $407,270 | $5,155 | 2.85% |
37% | 483 | $199,275,000 | $412,578 | $5,050 | 2.86% |
44% | 460 | $174,170,000 | $378,630 | $5,353 | 2.94% |
39% | 455 | $180,915,000 | $397,615 | $4,891 | 2.85% |
43% | 455 | $178,275,000 | $391,813 | $5,179 | 2.88% |
36% | 433 | $179,135,000 | $413,707 | $4,793 | 2.80% |
50-60% | 421 | $167,385,000 | $397,589 | $10,304 | 2.84% |
38% | 419 | $174,705,000 | $416,957 | $4,944 | 2.86% |
49% | 380 | $146,410,000 | $385,289 | $5,934 | 2.88% |
45% | 379 | $146,525,000 | $386,609 | $5,277 | 2.90% |
48% | 325 | $122,595,000 | $377,215 | $5,564 | 2.90% |
46% | 319 | $124,235,000 | $389,451 | $5,369 | 2.90% |
47% | 312 | $122,640,000 | $393,077 | $5,538 | 2.91% |
>60% | 7 | $3,075,000 | $439,286 | $13,043 | 2.71% |
Nj Lenders Corp. lent most frequently to those with DTI ratios of 20-30%, with 3,424 originations. The next most common DTI ratio? 30-36%, with 2,532 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
White | 8,239 | $3,344,155,000 | $405,893 | $4,995 | 2.85% |
Asian | 2,344 | $968,570,000 | $413,212 | $4,489 | 2.68% |
Not provided | 2,148 | $835,940,000 | $389,171 | $4,980 | 2.78% |
Black | 549 | $207,065,000 | $377,168 | $7,153 | 2.96% |
Asian Indian | 113 | $53,305,000 | $471,726 | $4,859 | 2.81% |
American Indian | 29 | $11,655,000 | $401,897 | $6,662 | 2.90% |
Other Asian | 11 | $4,675,000 | $425,000 | $4,498 | 2.91% |
Other Pacific Islander | 7 | $2,365,000 | $337,857 | $6,031 | 3.02% |
Korean | 5 | $2,315,000 | $463,000 | $5,236 | 2.70% |
Native Hawaiian | 5 | $2,065,000 | $413,000 | $4,056 | 3.00% |
Chinese | 3 | $1,905,000 | $635,000 | $7,790 | 2.75% |
Filipino | 6 | $1,880,000 | $313,333 | $4,103 | 2.92% |
Not applicable | 2 | $450,000 | $225,000 | $7,137 | 3.38% |
Approval Rates
Total approvals of all applications98.00%
Nj Lenders Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination72.05%
Nj Lenders Corp. has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 13,461 | $5,436,345,000 | $403,859 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
13,461 | $5,436,345,000 | $403,859 |
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
20-40% | 594 | $162,460,000 | $273,502 | $3,795 | 2.66% |
40-60% | 2,271 | $793,895,000 | $349,579 | $3,877 | 2.68% |
60-80% | 6,153 | $2,574,745,000 | $418,454 | $4,468 | 2.86% |
80-100% | 4,377 | $1,883,235,000 | $430,257 | $6,410 | 2.84% |
Over 100% | 29 | $14,715,000 | $507,414 | $17,588 | 2.75% |
Under 20% | 36 | $7,200,000 | $200,000 | $3,769 | 2.51% |
Complaints
Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
NJ LENDERS CORP | Conventional home mortgage | Closing on a mortgage | 3 | 60.0% |
NJ LENDERS CORP | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
NJ LENDERS CORP | FHA mortgage | Closing on a mortgage | 1 | 20.0% |