North Jersey Federal Credit Union Mortgage Rates, Fees & Info
Totowa, NJLEI: 549300VFH2IXM3I18P78
Tax ID: 22-1506321
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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 two markets are New York and Baltimore .North Jersey Federal Credit Union has an above average approval rate when compared to the average across all lenders.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 5/4/24 |
| 30 Year Conventional Refi | 6.27% | 5/4/24 |
| 30 Year Cash-out Refi | 6.27% | 5/4/24 |
| 15 Year Conventional Refi | 5.68% | 5/4/24 |
| 15 Year Cash-out Refi | 5.68% | 5/4/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
59Origination Dollar Volume (All Markets)
$13,155,000Top 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) | 58 | $13,000,000 | $224,138 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
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.
Similarity Rank: 102
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 59 | $13,155,000 | $222,966 | $0 | 0.00% |
For 2021, North Jersey Federal Credit Union's most frequently originated type of loan was Conventional, with 59 originations.
Loan Reason
For 2021, North Jersey Federal Credit Union's most frequently cited loan purpose was Refi, with 45 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 59 | $13,155,000 | $222,966 | $0 | 0.00% |
For 2021, North Jersey Federal Credit Union's most frequently cited loan duration was Other, with 59 originations.
Loan Sizing
2021 saw North Jersey Federal Credit Union place emphasis on $200k-400k loans with 33 originations, totaling $8,785,000 in origination value.
Applicant Income
North Jersey Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $75k-100k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 59 | $13,155,000 | $222,966 | $0 | 0.00% |
North Jersey Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 59 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.65%
North Jersey Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 59 | $13,155,000 | $222,966 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| NORTHSTAR FUNDING INC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |