Nj Lenders Corp. Mortgage Rates, Fees & Info

LITTLE FALLS, NJ

LEI: 549300JZD4L02YZI3Z50

Tax ID: 22-3157857

5 stars - out of 5 stars, based on 116 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

13,461

Origination Dollar Volume (All Markets)

$5,436,345,000
Show all (17) awards

Relative 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 applications
98.00%

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 origination
72.05%

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%