Kearny Bank Mortgage Rates, Fees & Info

Kearny, NJ

LEI: 549300N6U5XCH70TOK35

Tax ID: 22-1032860

5 stars - Updated: 4/5/25 - out of 5 stars, based on 23 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Kearny Bank is a smaller bank specializing in Home Purchase and Refi loans. Kearny Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Trenton, Scranton, and Allentown among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Kearny Bank 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. Kearny Bank is typically a low 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 6.49% 4/5/25
    30 Year Conventional Refi 6.55% 4/5/25
    30 Year Cash-out Refi 6.76% 4/5/25
    15 Year Conventional Purchase 5.69% 4/5/25
    15 Year Conventional Refi 5.61% 4/5/25
    15 Year Cash-out Refi 5.61% 4/5/25
    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.

    Kearny Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Kearny Bank. 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

    535

    Origination Dollar Volume (All Markets)

    $375,125,000
    Show all (5) awards

    Relative Rate

    Kearny Bank's average 30 year fixed mortgage rate was 6.42%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.13%.

    Relative Fees (Closing Costs)

    Kearny Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,507.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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) 468 $279,500,000 $597,222 $5,271 6.48%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 19 $33,125,000 $1,743,421 $4,570 6.40%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 12 $26,980,000 $2,248,333 $4,812 6.23%
    Outside of Metro Areas 6 $12,610,000 $2,101,667 $3,594 6.74%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $12,025,000 $12,025,000 $0 6.38%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 7 $2,385,000 $340,714 $4,681 6.55%
    OCEAN CITY, NJ (FHA|USDA|VA) 1 $1,105,000 $1,105,000 $0 6.88%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $905,000 $905,000 $0 6.88%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $845,000 $845,000 $5,516 6.75%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $735,000 $735,000 $2,870 5.88%
    Kill Devil Hills, NC (FHA|USDA|VA) 2 $720,000 $360,000 $3,052 7.00%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $605,000 $605,000 $8,655 5.88%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 3 $585,000 $195,000 $0 6.50%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $515,000 $515,000 $4,442 6.75%
    RALEIGH-CARY, NC (FHA|USDA|VA) 2 $510,000 $255,000 $2,457 6.87%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $395,000 $395,000 $0 7.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $375,000 $375,000 $4,383 6.99%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 6.62%
    DOVER, DE (FHA|USDA|VA) 1 $255,000 $255,000 $4,832 6.63%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $185,000 $185,000 $4,283 6.38%
    BATON ROUGE, LA (FHA|USDA|VA) 1 $175,000 $175,000 $3,599 6.38%
    Salem, OH (FHA|USDA|VA) 1 $135,000 $135,000 $3,623 5.88%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $135,000 $135,000 $0 6.38%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.50%
    Kearny Bank's top markets include New York, Philadelphia, Trenton, Scranton, and Allentown among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

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

    County Savings Bank
    Similarity Rank: 82
    Columbia Bank
    Similarity Rank: 96
    N C P D Federal Credit Union
    Similarity Rank: 126
    BNB Bank
    Similarity Rank: 154
    FREEDOM CREDIT UNION
    Similarity Rank: 255
    ISLAND
    Similarity Rank: 260
    Peoples Security Bank and Trust Company
    Similarity Rank: 320
    PCSB Bank
    Similarity Rank: 384
    Bogota Savings Bank
    Similarity Rank: 450
    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 455

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 535 $375,125,000 $701,168 $5,205 6.48%

    For 2024, Kearny Bank's most frequently originated type of loan was Conventional, with 535 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 442 $267,220,000 $604,570 $5,583 6.41%
    Refi 49 $97,525,000 $1,990,306 $4,000 6.40%
    Home Improvement 17 $1,775,000 $104,412 $902 7.79%
    Cash Out Refi 16 $6,420,000 $401,250 $4,442 6.51%
    Other 11 $2,185,000 $198,636 $1,789 7.65%

    For 2024, Kearny Bank's most frequently cited loan purpose was Home Purchase, with 442 originations. The 2nd most popular reason was Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 457 $231,645,000 $506,882 $5,507 6.42%
    15 Year 24 $10,290,000 $428,750 $4,801 5.98%
    5 Year 22 $96,170,000 $4,371,364 $0 6.55%
    20 Year 21 $2,645,000 $125,952 $552 8.06%
    10 Year 8 $24,480,000 $3,060,000 $195 6.89%
    3 Year 3 $9,895,000 $3,298,333 $0 6.57%

    For 2024, Kearny Bank's most frequently cited loan duration was 30 Year, with 457 originations. The 2nd most popular length was 15 Year, with 24 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 300 $175,970,000 $586,567
    $<1k 125 $34,635,000 $277,080
    $2k-3k 14 $7,040,000 $502,857
    $5k+ 8 $3,690,000 $461,250
    $3k-4k 2 $590,000 $295,000
    $4k-5k 2 $760,000 $380,000

    Kearny Bank's average total fees were $5,507, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 300 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 390 $301,060,000 $771,949
    5-6% 93 $55,065,000 $592,097
    7-8% 25 $13,395,000 $535,800
    Over 8% 23 $3,425,000 $148,913
    4-5% 4 $2,180,000 $545,000

    During 2024, Kearny Bank's average interest rate for loans was 6.42%, while their most frequently originated rate bucket for loans was 6-7%, with 390 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 151 $47,475,000 $314,404 $4,626 6.43%
    $400k-600k 123 $59,005,000 $479,715 $5,518 6.41%
    $600k-1MM 117 $88,485,000 $756,282 $6,524 6.42%
    $1MM+ 59 $170,195,000 $2,884,661 $8,711 6.57%
    $100k-200k 54 $7,930,000 $146,852 $3,042 6.40%
    $100,000 or less 31 $2,035,000 $65,645 $1,551 7.14%

    2024 saw Kearny Bank place emphasis on $200k-400k loans with 151 originations, totaling $47,475,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 141 $107,135,000 $759,823 $6,848 6.56%
    $150k-250k 137 $68,865,000 $502,664 $5,436 6.49%
    $100k-150k 105 $35,925,000 $342,143 $4,342 6.48%
    $75k-100k 49 $14,125,000 $288,265 $4,267 6.28%
    $50k-75k 28 $5,460,000 $195,000 $3,452 6.14%
    $50k or less 20 $2,040,000 $102,000 $2,996 6.08%

    Kearny Bank lent most frequently to those with incomes in the $250k+ range, with 141 originations. The second most popular income band? $150k-250k, with 137 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 90 $42,830,000 $475,889 $5,401 6.38%
    30-36% 83 $40,655,000 $489,819 $5,304 6.42%
    44% 40 $16,850,000 $421,250 $4,823 6.44%
    43% 35 $17,185,000 $491,000 $5,147 6.53%
    41% 30 $13,600,000 $453,333 $4,875 6.53%
    40% 24 $11,630,000 $484,583 $4,608 6.74%
    38% 23 $11,545,000 $501,957 $5,274 6.46%
    36% 22 $10,080,000 $458,182 $5,263 6.26%
    42% 21 $11,455,000 $545,476 $5,387 6.29%
    37% 19 $10,115,000 $532,368 $5,363 6.68%
    48% 17 $9,205,000 $541,471 $6,062 6.50%
    39% 16 $8,890,000 $555,625 $5,397 6.40%
    <20% 15 $4,905,000 $327,000 $4,710 6.37%
    46% 14 $9,110,000 $650,714 $5,254 6.50%
    49% 12 $7,240,000 $603,333 $5,708 6.30%
    47% 10 $4,790,000 $479,000 $5,331 6.50%
    45% 10 $3,720,000 $372,000 $4,564 6.50%

    Kearny Bank lent most frequently to those with DTI ratios of 20-30%, with 90 originations. The next most common DTI ratio? 30-36%, with 83 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 48 $140,190,000 $2,920,625 $0 6.72%
    White 286 $130,830,000 $457,448 $5,078 6.46%
    Asian 110 $63,630,000 $578,455 $5,761 6.44%
    Not provided 49 $24,505,000 $500,102 $5,390 6.60%
    Black 27 $8,645,000 $320,185 $4,173 6.23%
    Asian Indian 10 $5,340,000 $534,000 $5,539 6.36%
    American Indian 3 $1,145,000 $381,667 $4,723 6.32%
    Other Asian 2 $840,000 $420,000 $5,196 6.50%

    Approval Rates

    Total approvals of all applications
    94.51%

    Kearny Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.68%

    Kearny Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 535 $375,125,000 $701,168

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    535 $375,125,000 $701,168

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 39 $12,565,000 $322,179 $4,654 6.51%
    40-60% 86 $92,700,000 $1,077,907 $5,125 6.39%
    60-80% 200 $167,010,000 $835,050 $5,727 6.48%
    80-100% 184 $100,120,000 $544,130 $5,466 6.34%
    Under 20% 26 $2,730,000 $105,000 $1,126 7.67%