Nj Lenders Corp. Mortgage Rates, Fees & Info
LITTLE FALLS, NJLEI: 549300JZD4L02YZI3Z50
Tax ID: 22-3157857
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Mortgage Data
Review & 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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: New York, Philadelphia, Boston, Trenton, and Allentown among others. We have data for 64 markets. (Some data included below & more in-depth data is available with an active subscription.)Nj Lenders Corp. has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Nj Lenders Corp. is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.31% | 12/16/24 |
| 30 Year Conventional Refi | 6.49% | 12/16/24 |
| 30 Year Cash-out Refi | 6.64% | 12/16/24 |
| 30 Year FHA Purchase | 7.18% | 12/16/24 |
| 30 Year FHA Refi | 6.62% | 12/16/24 |
| 30 Year VA Purchase | 6.16% | 12/16/24 |
| 30 Year VA Refi | 5.94% | 12/16/24 |
| 30 Year USDA Purchase | 6.44% | 12/16/24 |
| 30 Year USDA Refi | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 5.79% | 12/16/24 |
| 15 Year Conventional Refi | 5.88% | 12/16/24 |
| 15 Year Cash-out Refi | 5.88% | 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. | ||
Nj Lenders Corp. Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
11,980Origination Dollar Volume (All Markets)
$4,612,490,000Awards
NJ LENDERS CORP. - 2020
NJ LENDERS CORP. is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 10,342 | $4,067,040,000 | $393,255 | $4,878 | 2.97% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 403 | $124,885,000 | $309,888 | $4,446 | 2.96% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 221 | $104,545,000 | $473,054 | $3,045 | 3.04% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 196 | $72,270,000 | $368,724 | $4,255 | 2.77% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 128 | $32,800,000 | $256,250 | $4,663 | 3.07% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 134 | $31,280,000 | $233,433 | $5,796 | 2.95% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 66 | $23,070,000 | $349,545 | $4,667 | 3.04% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 41 | $17,395,000 | $424,268 | $4,625 | 2.97% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 39 | $11,625,000 | $298,077 | $5,450 | 3.13% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 24 | $10,290,000 | $428,750 | $4,388 | 2.76% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 32 | $10,200,000 | $318,750 | $4,803 | 2.98% |
| Outside of Metro Areas | 27 | $9,075,000 | $336,111 | $4,780 | 3.10% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 26 | $8,660,000 | $333,077 | $3,110 | 2.78% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 19 | $7,885,000 | $415,000 | $4,443 | 3.01% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 17 | $6,495,000 | $382,059 | $3,529 | 2.85% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 23 | $6,265,000 | $272,391 | $3,758 | 3.18% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 21 | $5,915,000 | $281,667 | $4,295 | 2.98% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 19 | $5,325,000 | $280,263 | $3,744 | 3.01% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 14 | $4,850,000 | $346,429 | $2,447 | 2.95% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 11 | $4,365,000 | $396,818 | $4,437 | 2.77% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 13 | $4,235,000 | $325,769 | $4,122 | 3.20% |
| LANCASTER, PA (FHA|USDA|VA) | 16 | $3,620,000 | $226,250 | $4,900 | 3.07% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 10 | $3,320,000 | $332,000 | $4,661 | 3.26% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 7 | $2,655,000 | $379,286 | $3,432 | 2.88% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 9 | $2,245,000 | $249,444 | $4,305 | 2.82% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 7 | $2,185,000 | $312,143 | $5,578 | 3.04% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 7 | $2,105,000 | $300,714 | $4,006 | 3.14% |
| PITTSBURGH, PA (FHA|USDA|VA) | 8 | $2,060,000 | $257,500 | $4,036 | 3.08% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 9 | $2,025,000 | $225,000 | $4,482 | 3.44% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 11 | $1,985,000 | $180,455 | $4,968 | 2.84% |
| PITTSFIELD, MA (FHA|USDA|VA) | 6 | $1,760,000 | $293,333 | $3,645 | 2.85% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 5 | $1,395,000 | $279,000 | $3,875 | 3.10% |
| Torrington, CT (FHA|USDA|VA) | 4 | $1,390,000 | $347,500 | $5,123 | 2.84% |
| KINGSTON, NY (FHA|USDA|VA) | 4 | $1,270,000 | $317,500 | $4,615 | 2.63% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 4 | $1,250,000 | $312,500 | $6,403 | 2.84% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 3 | $1,235,000 | $411,667 | $4,161 | 2.79% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $5,083 | 2.92% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 5 | $1,075,000 | $215,000 | $3,544 | 3.15% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 4 | $1,040,000 | $260,000 | $5,447 | 2.97% |
| READING, PA (FHA|USDA|VA) | 5 | $965,000 | $193,000 | $3,304 | 3.13% |
| RICHMOND, VA (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $4,039 | 3.41% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $3,791 | 3.28% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $2,814 | 3.08% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $3,845 | 2.44% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $4,261 | 2.56% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $4,527 | 2.88% |
| Key West, FL (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $5,257 | 2.88% |
| OCALA, FL (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $5,930 | 2.88% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $4,591 | 3.13% |
| GAINESVILLE, FL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $3,520 | 3.50% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $4,703 | 3.81% |
| ITHACA, NY (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $10,723 | 3.50% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,751 | 3.63% |
| SYRACUSE, NY (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,585 | 2.75% |
| Hudson, NY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,076 | 3.13% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,649 | 3.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $9,269 | 3.25% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,314 | 3.75% |
| Gloversville, NY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,248 | 3.50% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,150 | 2.50% |
| ALTOONA, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,283 | 2.75% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,868 | 2.50% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,318 | 3.25% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,547 | 3.99% |
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Product Mix
For 2020, Nj Lenders Corp.'s most frequently originated type of loan was Conventional, with 11,079 originations. Their 2nd most popular type was FHA, with 732 originations.
Loan Reason
For 2020, Nj Lenders Corp.'s most frequently cited loan purpose was Refi, with 6,991 originations. The 2nd most popular reason was Home Purchase, with 4,945 originations.
Loan Duration/Length
For 2020, Nj Lenders Corp.'s most frequently cited loan duration was 30 Year, with 9,207 originations. The 2nd most popular length was 15 Year, with 1,629 originations.
Origination Fees/Closing Costs
Nj Lenders Corp.'s average total fees were $5,157, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 10,400 originations.
Interest Rates
During 2020, Nj Lenders Corp.'s average interest rate for loans was 3.04%, while their most frequently originated rate bucket for loans was 2.5-3%, with 5,524 originations.
Loan Sizing
2020 saw Nj Lenders Corp. place emphasis on $200k-400k loans with 6,046 originations, totaling $1,851,060,000 in origination value.
Applicant Income
Nj Lenders Corp. lent most frequently to those with incomes in the $50k or less range, with 11,957 originations. The second most popular income band? $250k+, with 7 originations.
Applicant Debt to Income Ratio
Nj Lenders Corp. lent most frequently to those with DTI ratios of 20-30%, with 3,230 originations. The next most common DTI ratio? 30-36%, with 2,297 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.75%
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 origination74.09%
Nj Lenders Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 11,980 | $4,612,490,000 | $385,016 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 11,980 | $4,612,490,000 | $385,016 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| NJ LENDERS CORP | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 16.7% |
| NJ LENDERS CORP | Conventional home mortgage | Closing on a mortgage | 10 | 83.3% |