Nj Lenders Corp. Mortgage Rates, Fees & Info

LITTLE FALLS, NJ

LEI: 549300JZD4L02YZI3Z50

Tax ID: 22-3157857

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

Jump to:

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.

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 6.31% 3/28/24
30 Year Conventional Refi 6.49% 3/28/24
30 Year Cash-out Refi 6.64% 3/28/24
30 Year FHA Purchase 7.18% 3/28/24
30 Year FHA Refi 6.62% 3/28/24
30 Year VA Purchase 6.16% 3/28/24
30 Year VA Refi 5.94% 3/28/24
30 Year USDA Purchase 6.44% 3/28/24
30 Year USDA Refi 6.27% 3/28/24
15 Year Conventional Purchase 5.79% 3/28/24
15 Year Conventional Refi 5.88% 3/28/24
15 Year Cash-out Refi 5.88% 3/28/24
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






Your Estimates

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

This is not an official calculator from Nj Lenders Corp.. 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

11,980

Origination Dollar Volume (All Markets)

$4,612,490,000
Show all (18) 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
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%
Nj Lenders Corp.'s top markets include New York, Philadelphia, Boston, Trenton, and Allentown among others.

Their top states include:
  • New Jersey (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

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

    Homestar Mortgage, Inc.
    Similarity Rank: 166
    SOMERSET
    Similarity Rank: 169
    North Jersey Federal Credit Union
    Similarity Rank: 247
    OCEAN STATE CREDIT UNION
    Similarity Rank: 252
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    Stafford Savings Bank
    Similarity Rank: 266
    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 304
    Piscataqua Savings Bank
    Similarity Rank: 310
    METROPLEX MORTGAGE SERVICES, INC.
    Similarity Rank: 372

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 11,079 $4,275,405,000 $385,902 $4,321 2.97%
    FHA 732 $271,880,000 $371,421 $11,522 3.00%
    VA 158 $62,400,000 $394,937 $7,497 2.82%
    USDA 8 $1,870,000 $233,750 $6,322 2.70%
    FHA 2 $550,000 $275,000 $0 2.43%
    USDA 1 $385,000 $385,000 $0 6.03%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 6,991 $2,599,875,000 $371,889 $3,954 2.98%
    Home Purchase 4,945 $1,998,285,000 $404,102 $6,012 2.96%
    Cash Out Refi 44 $14,330,000 $325,682 $4,663 3.67%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 9,207 $3,694,355,000 $401,255 $5,157 3.04%
    15 Year 1,629 $521,845,000 $320,347 $3,585 2.60%
    20 Year 680 $230,390,000 $338,809 $3,700 2.94%
    Other 386 $146,380,000 $379,223 $3,816 3.02%
    10 Year 78 $19,520,000 $250,256 $3,337 2.59%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 10,400 $4,028,860,000 $387,390
    $1k-2k 727 $254,005,000 $349,388
    $2k-3k 369 $130,065,000 $352,480
    $5k+ 201 $98,355,000 $489,328
    $3k-4k 161 $53,385,000 $331,584
    $4k-5k 119 $46,885,000 $393,992

    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

    Loan Rate Originations Total Value Average Loan
    2.5-3% 5,524 $2,196,470,000 $397,623
    3-4% 4,086 $1,562,390,000 $382,376
    <2.5% 2,135 $772,985,000 $362,054
    4-5% 227 $78,565,000 $346,101
    5-6% 7 $1,695,000 $242,143
    6-7% 1 $385,000 $385,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 6,046 $1,851,060,000 $306,163 $4,377 2.95%
    $400k-600k 3,828 $1,823,910,000 $476,466 $5,371 2.93%
    $100k-200k 1,008 $162,270,000 $160,982 $3,665 3.13%
    $600k-1MM 944 $665,110,000 $704,566 $6,346 3.06%
    $1MM+ 82 $104,470,000 $1,274,024 $7,560 3.10%
    $100,000 or less 72 $5,670,000 $78,750 $3,158 3.20%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 11,957 $4,596,965,000 $384,458 $4,757 2.97%
    $250k+ 7 $9,575,000 $1,367,857 $9,707 3.18%
    $150k-250k 4 $1,890,000 $472,500 $140,829 3.31%
    $50k-75k 2 $470,000 $235,000 $6,225 3.56%
    $75k-100k 2 $730,000 $365,000 $4,450 2.56%
    $100k-150k 1 $385,000 $385,000 $4,027 4.13%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 3,230 $1,250,150,000 $387,043 $4,153 2.89%
    30-36% 2,297 $899,785,000 $391,722 $4,521 2.97%
    <20% 1,099 $417,095,000 $379,522 $4,096 2.85%
    39% 431 $170,125,000 $394,722 $4,837 3.06%
    40% 424 $170,020,000 $400,991 $4,942 3.01%
    36% 411 $162,025,000 $394,221 $4,465 3.00%
    42% 408 $156,480,000 $383,529 $4,934 3.07%
    44% 402 $144,410,000 $359,229 $5,218 3.13%
    38% 400 $158,560,000 $396,400 $4,804 3.02%
    37% 397 $156,395,000 $393,942 $4,897 2.98%
    43% 380 $139,010,000 $365,816 $5,034 3.06%
    41% 376 $142,910,000 $380,080 $4,922 3.07%
    50-60% 321 $119,035,000 $370,826 $10,329 2.96%
    45% 309 $115,745,000 $374,579 $5,478 3.06%
    49% 301 $111,885,000 $371,711 $5,320 3.09%
    48% 272 $101,340,000 $372,574 $5,540 3.07%
    46% 261 $99,905,000 $382,778 $5,387 3.08%
    47% 249 $92,215,000 $370,341 $5,591 3.08%
    >60% 6 $2,240,000 $373,333 $4,812 2.83%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 7,934 $3,045,590,000 $383,866 $4,912 3.03%
    Asian 2,501 $973,695,000 $389,322 $4,095 2.81%
    Not provided 1,179 $457,225,000 $387,807 $4,974 2.89%
    Black 336 $123,340,000 $367,083 $7,015 3.07%
    Asian Indian 13 $5,055,000 $388,846 $4,188 2.87%
    American Indian 10 $4,570,000 $457,000 $4,861 2.93%
    Other Asian 3 $1,705,000 $568,333 $4,898 3.42%
    Chinese 2 $760,000 $380,000 $3,795 2.94%
    Filipino 2 $550,000 $275,000 $3,880 2.38%

    Approval Rates

    Total approvals of all applications
    97.75%

    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 origination
    74.09%

    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

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 425 $114,145,000 $268,576 $3,538 2.85%
    40-60% 1,757 $597,325,000 $339,969 $3,670 2.85%
    60-80% 5,652 $2,263,090,000 $400,405 $4,188 3.01%
    80-100% 4,083 $1,617,075,000 $396,051 $6,209 2.99%
    Over 100% 32 $13,660,000 $426,875 $14,754 3.18%
    Under 20% 24 $4,720,000 $196,667 $3,723 2.38%

    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%