Credit Union Of New Jersey Mortgage Rates, Fees & Info

Ewing, NJ

LEI: 549300NP3DNB1K9Z8513

Tax ID: 21-0628526

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Credit Union Of New Jersey is a smaller credit union specializing in Home Purchase, Cash Out Refi, and Refi loans. Credit Union Of New Jersey has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Trenton, Columbus, and Charlotte among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Credit Union Of New Jersey has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Credit Union Of New Jersey 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 6.54% 11/17/24
    30 Year Conventional Refi 6.79% 11/17/24
    30 Year Cash-out Refi 6.59% 11/17/24
    15 Year Conventional Purchase 6.30% 11/17/24
    15 Year Conventional Refi 6.48% 11/17/24
    15 Year Cash-out Refi 6.48% 11/17/24
    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.

    Credit Union Of New Jersey Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Credit Union Of New Jersey. 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

    187

    Origination Dollar Volume (All Markets)

    $27,785,000
    Show all (6) 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) 51 $9,505,000 $186,373 $2,876 4.43%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 63 $9,425,000 $149,603 $2,798 4.62%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 67 $7,705,000 $115,000 $2,585 4.74%
    COLUMBUS, OH (FHA|USDA|VA) 1 $375,000 $375,000 $2,598 2.25%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $255,000 $255,000 $2,555 4.13%
    OCEAN CITY, NJ (FHA|USDA|VA) 1 $165,000 $165,000 $3,029 4.38%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $165,000 $165,000 $1,995 4.13%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $115,000 $115,000 $3,181 3.25%
    SYRACUSE, NY (FHA|USDA|VA) 1 $75,000 $75,000 $2,569 3.88%
    Credit Union Of New Jersey's top markets include New York, Philadelphia, Trenton, Columbus, and Charlotte among others.

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

    • Similar Lenders

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

    N C P D Federal Credit Union
    Similarity Rank: 56
    Schuyler Savings Bank
    Similarity Rank: 104
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 122
    Union County Savings Bank
    Similarity Rank: 150
    Prudential Bank
    Similarity Rank: 162
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 192
    Blue Foundry Bank
    Similarity Rank: 212
    Bogota Savings Bank
    Similarity Rank: 246
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 266
    FUNDING RESOURCES MORTGAGE CORPORATION
    Similarity Rank: 292

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 187 $27,785,000 $148,583 $2,745 4.58%

    For 2019, Credit Union Of New Jersey's most frequently originated type of loan was Conventional, with 187 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 78 $3,590,000 $46,026 $0 6.03%
    Home Purchase 42 $8,810,000 $209,762 $3,418 3.81%
    Cash Out Refi 35 $7,265,000 $207,571 $2,302 3.70%
    Refi 32 $8,120,000 $253,750 $2,347 3.07%

    For 2019, Credit Union Of New Jersey's most frequently cited loan purpose was Home Improvement, with 78 originations. The 2nd most popular reason was Home Purchase, with 42 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 75 $16,395,000 $218,600 $2,834 3.77%
    15 Year 49 $7,205,000 $147,041 $2,541 4.76%
    10 Year 26 $1,460,000 $56,154 $1,911 5.60%
    5 Year 20 $700,000 $35,000 $0 5.32%
    20 Year 9 $1,475,000 $163,889 $2,879 4.44%
    Other 8 $550,000 $68,750 $3,029 6.26%

    For 2019, Credit Union Of New Jersey's most frequently cited loan duration was 30 Year, with 75 originations. The 2nd most popular length was 15 Year, with 49 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 109 $24,195,000 $221,972

    Credit Union Of New Jersey's average total fees were $2,834, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 109 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 60 $13,630,000 $227,167
    5-6% 43 $2,255,000 $52,442
    2.5-3% 28 $7,100,000 $253,571
    4-5% 21 $2,635,000 $125,476
    7-8% 16 $670,000 $41,875
    6-7% 14 $600,000 $42,857
    <2.5% 3 $775,000 $258,333
    Over 8% 1 $85,000 $85,000

    During 2019, Credit Union Of New Jersey's average interest rate for loans was 3.77%, while their most frequently originated rate bucket for loans was 3-4%, with 60 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 87 $4,045,000 $46,494 $2,355 5.77%
    $200k-400k 51 $13,735,000 $269,314 $2,867 3.25%
    $100k-200k 40 $5,840,000 $146,000 $2,390 3.97%
    $400k-600k 9 $4,165,000 $462,778 $4,042 3.39%

    2019 saw Credit Union Of New Jersey place emphasis on $100,000 or less loans with 87 originations, totaling $4,045,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 48 $8,530,000 $177,708 $2,961 4.72%
    $75k-100k 41 $4,875,000 $118,902 $2,834 4.83%
    $50k-75k 38 $3,860,000 $101,579 $2,413 4.31%
    $150k-250k 35 $5,985,000 $171,000 $2,721 4.61%
    $50k or less 14 $1,160,000 $82,857 $2,585 4.62%
    $250k+ 8 $2,500,000 $312,500 $3,067 3.86%

    Credit Union Of New Jersey lent most frequently to those with incomes in the $100k-150k range, with 48 originations. The second most popular income band? $75k-100k, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 44 $7,300,000 $165,909 $2,635 3.98%
    30-36% 38 $5,130,000 $135,000 $2,590 4.77%
    <20% 24 $3,250,000 $135,417 $2,777 4.69%
    36% 13 $1,525,000 $117,308 $2,653 5.22%
    42% 10 $1,360,000 $136,000 $2,654 4.97%
    40% 9 $755,000 $83,889 $2,332 5.27%
    50-60% 7 $1,965,000 $280,714 $3,017 3.23%
    37% 7 $1,135,000 $162,143 $2,772 4.03%
    43% 6 $1,080,000 $180,000 $2,974 4.85%
    39% 5 $415,000 $83,000 $3,501 5.12%
    41% 5 $625,000 $125,000 $4,882 6.19%
    38% 4 $230,000 $57,500 $0 6.49%
    44% 4 $550,000 $137,500 $2,522 5.03%
    48% 4 $870,000 $217,500 $2,948 4.09%
    46% 3 $725,000 $241,667 $3,299 3.50%
    45% 2 $350,000 $175,000 $4,028 4.62%
    49% 2 $520,000 $260,000 $2,402 2.63%

    Credit Union Of New Jersey lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? 30-36%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 106 $15,440,000 $145,660 $2,788 4.69%
    Not provided 23 $4,615,000 $200,652 $2,525 3.80%
    Black 36 $4,240,000 $117,778 $2,854 4.78%
    Asian 10 $1,870,000 $187,000 $2,794 3.89%
    Asian Indian 3 $1,035,000 $345,000 $2,667 3.63%
    American Indian 7 $325,000 $46,429 $0 6.06%
    Other Pacific Islander 1 $205,000 $205,000 $2,196 3.13%
    Native Hawaiian or Islander 1 $55,000 $55,000 $2,863 5.25%

    Approval Rates

    Total approvals of all applications
    64.46%

    Credit Union Of New Jersey has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    71.66%

    Credit Union Of New Jersey has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 187 $27,785,000 $148,583

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 187 $27,785,000 $148,583

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $2,565,000 $95,000 $2,127 5.25%
    40-60% 23 $4,765,000 $207,174 $2,388 3.43%
    60-80% 58 $13,440,000 $231,724 $2,793 3.50%
    80-100% 27 $5,205,000 $192,778 $3,153 4.10%
    Over 100% 1 $85,000 $85,000 $1,968 3.75%
    Under 20% 51 $1,725,000 $33,824 $0 6.28%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Credit Plus Inc Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 66.7%
    Credit Plus Inc Conventional home mortgage Improper use of your report 1 33.3%