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
  • 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 Cash Out Refi and Home Purchase loans. North Jersey Federal Credit Union has a high proportion of conventional loans. Their top two markets are New York and Philadelphia .

    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 an average 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

    55

    Origination Dollar Volume (All Markets)

    $14,445,000

    Awards

    North Jersey Federal Credit Union 30 Year Conventional Loans gold North Jersey Federal Credit Union 30 Year Conventional Loans silver North Jersey Federal Credit Union 30 Year Conventional Loans gold
    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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 53 $14,085,000 $265,755 $2,787 3.97%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $360,000 $180,000 $3,115 4.63%
    North Jersey Federal Credit Union's top markets include New York and Philadelphia 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.

    RSI BANK
    Similarity Rank: 30
    Schuyler Savings Bank
    Similarity Rank: 51
    North Jersey Federal Credit Union
    Similarity Rank: 124
    The First National Bank of Long Island
    Similarity Rank: 142
    N C P D Federal Credit Union
    Similarity Rank: 201
    Nassau Educators Federal Credit Union
    Similarity Rank: 481
    American Broadcast Employees Federal Credit Union
    Similarity Rank: 540
    Ridgewood Savings Bank
    Similarity Rank: 644
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 664
    Bogota Savings Bank
    Similarity Rank: 680

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 55 $14,445,000 $262,636 $2,799 3.99%

    For 2022, North Jersey Federal Credit Union's most frequently originated type of loan was Conventional, with 55 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 25 $6,795,000 $271,800 $2,866 3.63%
    Other 10 $740,000 $74,000 $430 4.69%
    Home Purchase 9 $5,295,000 $588,333 $7,039 3.76%
    Home Improvement 7 $565,000 $80,714 $408 4.25%
    Refi 4 $1,050,000 $262,500 $2,946 4.56%

    For 2022, North Jersey Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 25 originations. The 2nd most popular reason was Other, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 23 $9,575,000 $416,304 $5,044 3.84%
    20 Year 14 $2,400,000 $171,429 $1,100 4.42%
    10 Year 10 $810,000 $81,000 $398 4.24%
    15 Year 7 $1,625,000 $232,143 $2,596 3.34%
    5 Year 1 $35,000 $35,000 $375 3.50%

    For 2022, North Jersey Federal Credit Union's most frequently cited loan duration was 30 Year, with 23 originations. The 2nd most popular length was 20 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 55 $14,445,000 $262,636

    North Jersey Federal Credit Union's average total fees were $5,044, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 55 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 19 $1,715,000 $90,263
    2.5-3% 18 $5,710,000 $317,222
    3-4% 11 $4,995,000 $454,091
    5-6% 6 $1,830,000 $305,000
    6-7% 1 $195,000 $195,000

    During 2022, North Jersey Federal Credit Union's average interest rate for loans was 3.84%, while their most frequently originated rate bucket for loans was 4-5%, with 19 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 16 $2,260,000 $141,250 $1,579 4.17%
    $200k-400k 15 $4,575,000 $305,000 $3,659 3.47%
    $100,000 or less 13 $765,000 $58,846 $364 4.52%
    $400k-600k 8 $4,130,000 $516,250 $5,584 3.80%
    $600k-1MM 2 $1,400,000 $700,000 $7,756 3.88%
    $1MM+ 1 $1,315,000 $1,315,000 $8,869 3.88%

    2022 saw North Jersey Federal Credit Union place emphasis on $100k-200k loans with 16 originations, totaling $2,260,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 15 $4,905,000 $327,000 $3,480 4.22%
    $50k-75k 15 $2,435,000 $162,333 $2,268 3.80%
    $75k-100k 10 $1,460,000 $146,000 $1,586 4.36%
    $150k-250k 8 $2,420,000 $302,500 $2,830 3.77%
    $250k+ 5 $3,025,000 $605,000 $4,868 3.55%
    $50k or less 2 $200,000 $100,000 $2,442 3.88%

    North Jersey Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $50k-75k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 15 $3,725,000 $248,333 $2,958 3.58%
    20-30% 14 $3,000,000 $214,286 $2,216 3.79%
    <20% 11 $1,425,000 $129,545 $954 4.25%
    40% 2 $570,000 $285,000 $3,334 4.25%
    41% 2 $1,190,000 $595,000 $6,957 3.50%
    43% 2 $880,000 $440,000 $5,784 3.38%
    44% 2 $480,000 $240,000 $3,477 4.63%
    45% 2 $550,000 $275,000 $2,474 5.50%
    42% 1 $385,000 $385,000 $4,698 5.25%
    37% 1 $385,000 $385,000 $3,568 3.75%
    38% 1 $45,000 $45,000 $375 5.00%
    36% 1 $1,315,000 $1,315,000 $8,869 3.88%
    46% 1 $495,000 $495,000 $6,492 5.75%

    North Jersey Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 15 originations. The next most common DTI ratio? 20-30%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 27 $8,135,000 $301,296 $2,921 3.93%
    Not provided 14 $3,780,000 $270,000 $3,105 4.10%
    Black 12 $2,070,000 $172,500 $2,211 3.83%
    1 $385,000 $385,000 $4,698 5.25%
    Not applicable 1 $75,000 $75,000 $375 4.75%

    Approval Rates

    Total approvals of all applications
    72.37%

    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 55 $14,445,000 $262,636

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    55 $14,445,000 $262,636

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $1,425,000 $129,545 $947 4.35%
    40-60% 8 $2,570,000 $321,250 $3,186 3.72%
    60-80% 15 $5,475,000 $365,000 $4,512 3.53%
    80-100% 7 $4,035,000 $576,429 $6,417 3.73%
    Under 20% 14 $940,000 $67,143 $388 4.48%