North Jersey Federal Credit Union Mortgage Rates, Fees & Info

Totowa, NJ

LEI: 549300VFH2IXM3I18P78

Tax ID: 22-1506321

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

    North Jersey Federal Credit Union is a smaller credit union specializing in Refi loans. North Jersey Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is New York.

    North Jersey Federal Credit Union has an average approval rate when compared to the average across all lenders. North Jersey Federal Credit Union 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 6.27% 11/17/24
    30 Year Conventional Refi 6.27% 11/17/24
    30 Year Cash-out Refi 6.27% 11/17/24
    15 Year Conventional Refi 5.68% 11/17/24
    15 Year Cash-out Refi 5.68% 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.

    North Jersey Federal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from North Jersey Federal Credit Union. 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

    74

    Origination Dollar Volume (All Markets)

    $19,100,000

    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) 74 $19,100,000 $258,108 $3,242 3.18%
    North Jersey Federal Credit Union's top markets include and New York among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)

    • Similar Lenders

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

    The First National Bank of Long Island
    Similarity Rank: 134
    North Jersey Federal Credit Union
    Similarity Rank: 247
    N C P D Federal Credit Union
    Similarity Rank: 482
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 538
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 668
    TEG Federal Credit Union
    Similarity Rank: 715
    Hanover Community Bank
    Similarity Rank: 727
    Roselle Bank
    Similarity Rank: 796
    Poli Mortgage Group, Inc.
    Similarity Rank: 1012
    Schuyler Savings Bank
    Similarity Rank: 1083

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 74 $19,100,000 $258,108 $3,242 3.18%

    For 2020, North Jersey Federal Credit Union's most frequently originated type of loan was Conventional, with 74 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 55 $14,095,000 $256,273 $3,237 3.07%
    Home Purchase 9 $3,305,000 $367,222 $5,635 3.18%
    Home Improvement 4 $530,000 $132,500 $494 3.75%
    Cash Out Refi 4 $1,020,000 $255,000 $2,076 3.44%
    Other 2 $150,000 $75,000 $429 4.50%

    For 2020, North Jersey Federal Credit Union's most frequently cited loan purpose was Refi, with 55 originations. The 2nd most popular reason was Home Purchase, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 37 $11,845,000 $320,135 $4,506 3.14%
    15 Year 23 $4,545,000 $197,609 $2,210 3.06%
    20 Year 8 $2,060,000 $257,500 $2,234 3.36%
    10 Year 4 $510,000 $127,500 $494 3.81%
    5 Year 2 $140,000 $70,000 $1,254 3.38%

    For 2020, North Jersey Federal Credit Union's most frequently cited loan duration was 30 Year, with 37 originations. The 2nd most popular length was 15 Year, with 23 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 74 $19,100,000 $258,108

    North Jersey Federal Credit Union's average total fees were $4,506, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 74 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 40 $11,830,000 $295,750
    2.5-3% 29 $6,885,000 $237,414
    4-5% 5 $385,000 $77,000

    During 2020, North Jersey Federal Credit Union's average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 3-4%, with 40 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 43 $12,315,000 $286,395 $3,557 3.06%
    $100k-200k 16 $2,340,000 $146,250 $2,568 3.12%
    $100,000 or less 7 $405,000 $57,857 $579 4.04%
    $400k-600k 7 $3,395,000 $485,000 $5,378 3.25%
    $600k-1MM 1 $645,000 $645,000 $4,167 3.13%

    2020 saw North Jersey Federal Credit Union place emphasis on $200k-400k loans with 43 originations, totaling $12,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 25 $7,325,000 $293,000 $3,310 3.13%
    $75k-100k 17 $3,615,000 $212,647 $2,800 3.21%
    $150k-250k 14 $4,050,000 $289,286 $2,975 3.15%
    $50k-75k 8 $1,590,000 $198,750 $5,331 3.02%
    $250k+ 5 $2,035,000 $407,000 $3,949 3.08%
    $50k or less 4 $260,000 $65,000 $600 4.00%

    North Jersey Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $75k-100k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 17 $4,915,000 $289,118 $3,032 3.02%
    30-36% 16 $4,090,000 $255,625 $3,684 3.23%
    <20% 10 $1,530,000 $153,000 $1,581 3.48%
    40% 5 $1,135,000 $227,000 $2,988 3.03%
    45% 5 $1,645,000 $329,000 $7,326 3.08%
    42% 5 $1,105,000 $221,000 $2,836 3.18%
    41% 4 $1,140,000 $285,000 $2,361 2.97%
    43% 3 $555,000 $185,000 $1,632 3.63%
    37% 2 $450,000 $225,000 $3,003 3.00%
    39% 2 $740,000 $370,000 $4,597 3.31%
    50-60% 1 $115,000 $115,000 $1,229 2.88%
    44% 1 $565,000 $565,000 $6,130 3.25%
    38% 1 $415,000 $415,000 $6,973 3.38%
    47% 1 $325,000 $325,000 $3,666 3.00%

    North Jersey Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 45 $12,255,000 $272,333 $3,212 3.23%
    Black 15 $3,275,000 $218,333 $2,999 3.19%
    Not provided 7 $1,505,000 $215,000 $2,947 2.98%
    Asian 5 $1,275,000 $255,000 $3,942 3.08%
    Asian Indian 2 $790,000 $395,000 $5,012 3.06%

    Approval Rates

    Total approvals of all applications
    84.38%

    North Jersey Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 74 $19,100,000 $258,108

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $565,000 $565,000
    Single Family (1-4 Units):Site-Built 73 $18,535,000 $253,904

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,070,000 $133,750 $1,654 3.44%
    40-60% 13 $2,785,000 $214,231 $4,629 3.03%
    60-80% 38 $10,710,000 $281,842 $2,904 3.06%
    80-100% 10 $4,280,000 $428,000 $5,292 3.19%
    Under 20% 5 $255,000 $51,000 $644 4.10%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    NORTHWEST BANCSHARES INC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    NORTHWEST BANCSHARES INC Conventional home mortgage Trouble during payment process 1 50.0%