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 Cash Out Refi, Home Purchase, and Refi loans. Credit Union Of New Jersey has a high proportion of conventional loans. Their top markets by origination volume include: Trenton, Philadelphia, New York, Allentown, and Mount Vernon among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Credit Union Of New Jersey has an 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

    203

    Origination Dollar Volume (All Markets)

    $28,265,000

    Awards

    CREDIT UNION OF NEW JERSEY 30 Year Conventional Loans gold CREDIT UNION OF NEW JERSEY 30 Year Conventional Loans gold CREDIT UNION OF NEW JERSEY 30 Year Conventional Loans bronze
    Show all (3) 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
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 81 $10,085,000 $124,506 $1,304 3.85%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 62 $8,430,000 $135,968 $1,378 3.97%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 35 $5,915,000 $169,000 $1,560 3.74%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 4 $720,000 $180,000 $3,111 3.06%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $395,000 $395,000 $2,044 2.50%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 4 $370,000 $92,500 $1,154 4.12%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $335,000 $335,000 $2,720 3.25%
    OCEAN CITY, NJ (FHA|USDA|VA) 3 $315,000 $105,000 $705 4.33%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $310,000 $155,000 $2,626 2.69%
    BOWLING GREEN, KY (FHA|USDA|VA) 1 $305,000 $305,000 $2,531 3.38%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $215,000 $215,000 $0 3.25%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $205,000 $205,000 $2,898 2.38%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $145,000 $145,000 $2,287 3.00%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $135,000 $135,000 $2,380 3.25%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $125,000 $125,000 $1,919 3.50%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $115,000 $115,000 $1,731 2.38%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $55,000 $55,000 $1,926 2.38%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.24%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.99%
    Credit Union Of New Jersey's top markets include Trenton, Philadelphia, New York, Allentown, and Mount Vernon among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Massachusetts (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: 102
    Schuyler Savings Bank
    Similarity Rank: 352
    Louviers Federal Credit Union
    Similarity Rank: 410
    BHCU
    Similarity Rank: 504
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 652
    The First National Bank of Long Island
    Similarity Rank: 748
    The Atlantic Federal Credit Union
    Similarity Rank: 882
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 1064
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1092
    Poli Mortgage Group, Inc.
    Similarity Rank: 1369

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 203 $28,265,000 $139,236 $1,439 3.82%

    For 2021, Credit Union Of New Jersey's most frequently originated type of loan was Conventional, with 203 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 88 $5,360,000 $60,909 $0 4.78%
    Cash Out Refi 44 $8,740,000 $198,636 $2,174 3.09%
    Home Purchase 38 $8,200,000 $215,789 $3,326 3.23%
    Refi 33 $5,965,000 $180,758 $2,126 2.90%

    For 2021, Credit Union Of New Jersey's most frequently cited loan purpose was Home Improvement, with 88 originations. The 2nd most popular reason was Cash Out Refi, with 44 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 65 $13,655,000 $210,077 $2,794 3.32%
    15 Year 52 $6,990,000 $134,423 $1,322 3.60%
    10 Year 34 $2,650,000 $77,941 $437 4.38%
    20 Year 25 $3,465,000 $138,600 $1,031 4.32%
    5 Year 18 $980,000 $54,444 $0 4.32%
    Other 9 $525,000 $58,333 $0 4.13%

    For 2021, Credit Union Of New Jersey's most frequently cited loan duration was 30 Year, with 65 originations. The 2nd most popular length was 15 Year, with 52 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 200 $28,070,000 $140,350

    Credit Union Of New Jersey's average total fees were $2,794, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 200 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 89 $13,285,000 $149,270
    2.5-3% 30 $5,920,000 $197,333
    4-5% 28 $2,300,000 $82,143
    <2.5% 26 $5,200,000 $200,000
    5-6% 15 $695,000 $46,333
    6-7% 15 $865,000 $57,667

    During 2021, Credit Union Of New Jersey's average interest rate for loans was 3.32%, while their most frequently originated rate bucket for loans was 3-4%, with 89 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 86 $4,170,000 $48,488 $253 4.61%
    $100k-200k 69 $10,245,000 $148,478 $1,935 3.32%
    $200k-400k 46 $12,850,000 $279,348 $2,767 3.07%
    $400k-600k 2 $1,000,000 $500,000 $3,889 3.88%

    2021 saw Credit Union Of New Jersey place emphasis on $100,000 or less loans with 86 originations, totaling $4,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 49 $6,605,000 $134,796 $1,268 3.81%
    $75k-100k 49 $6,635,000 $135,408 $1,587 3.78%
    $50k-75k 48 $6,010,000 $125,208 $1,451 3.83%
    $150k-250k 32 $5,610,000 $175,313 $1,501 3.72%
    $50k or less 16 $1,470,000 $91,875 $1,171 4.40%
    $250k+ 5 $1,195,000 $239,000 $1,479 3.70%

    Credit Union Of New Jersey lent most frequently to those with incomes in the $100k-150k range, with 49 originations. The second most popular income band? $75k-100k, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 52 $6,040,000 $116,154 $1,282 3.75%
    30-36% 30 $3,400,000 $113,333 $1,115 3.86%
    <20% 19 $3,045,000 $160,263 $1,692 3.50%
    39% 15 $1,735,000 $115,667 $876 4.46%
    41% 9 $1,715,000 $190,556 $2,181 3.94%
    40% 8 $1,780,000 $222,500 $1,923 4.12%
    37% 7 $865,000 $123,571 $1,351 4.07%
    36% 7 $1,275,000 $182,143 $1,835 3.41%
    49% 7 $935,000 $133,571 $1,716 3.91%
    47% 7 $995,000 $142,143 $1,499 3.89%
    42% 6 $1,450,000 $241,667 $2,581 3.35%
    38% 6 $1,060,000 $176,667 $1,716 3.18%
    43% 6 $670,000 $111,667 $1,064 3.89%
    44% 6 $650,000 $108,333 $1,395 3.56%
    48% 6 $950,000 $158,333 $1,509 4.18%
    45% 5 $415,000 $83,000 $1,162 4.39%
    50-60% 3 $705,000 $235,000 $1,734 2.91%
    >60% 2 $290,000 $145,000 $901 2.93%
    46% 2 $290,000 $145,000 $1,864 5.00%

    Credit Union Of New Jersey lent most frequently to those with DTI ratios of 20-30%, with 52 originations. The next most common DTI ratio? 30-36%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 98 $12,640,000 $128,980 $1,284 3.80%
    Black 63 $9,255,000 $146,905 $1,706 3.96%
    Not provided 33 $4,205,000 $127,424 $1,032 3.81%
    Asian 8 $1,970,000 $246,250 $2,812 3.17%
    Native Hawaiian or Islander 1 $195,000 $195,000 $1,802 2.38%

    Approval Rates

    Total approvals of all applications
    78.28%

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

    Pick Rate

    Approvals leading to origination
    76.35%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 203 $28,265,000 $139,236

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    203 $28,265,000 $139,236

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $3,080,000 $110,000 $839 3.95%
    40-60% 35 $5,635,000 $161,000 $1,599 3.31%
    60-80% 49 $10,245,000 $209,082 $2,380 3.37%
    80-100% 34 $7,100,000 $208,824 $2,724 3.33%
    Under 20% 57 $2,205,000 $38,684 $0 4.75%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Credit Union Mortgage Association, Inc. Conventional home mortgage Trouble during payment process 1 100.0%