North Jersey Federal Credit Union Mortgage Rates, Fees & Info

Totowa, NJ

LEI: 549300VFH2IXM3I18P78

Tax ID: 22-1506321

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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 Other and Home Purchase 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 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.

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    Originations

    47

    Origination Dollar Volume (All Markets)

    $7,215,000

    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) 47 $7,215,000 $153,511 $1,608 6.44%
    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.

    N C P D Federal Credit Union
    Similarity Rank: 126
    Columbia Bank
    Similarity Rank: 156
    The First National Bank of Long Island
    Similarity Rank: 158
    GREATER ALLIANCE
    Similarity Rank: 168
    Blue Foundry Bank
    Similarity Rank: 188
    PCSB Bank
    Similarity Rank: 207
    American Broadcast Employees Federal Credit Union
    Similarity Rank: 209
    LYONS MORTGAGE SERVICES, INC.
    Similarity Rank: 267
    Bogota Savings Bank
    Similarity Rank: 351
    SELF RELIANCE NY Federal Credit Union
    Similarity Rank: 442

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 47 $7,215,000 $153,511 $1,608 6.44%

    For 2023, North Jersey Federal Credit Union's most frequently originated type of loan was Conventional, with 47 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 32 $2,270,000 $70,938 $365 6.69%
    Home Improvement 7 $1,085,000 $155,000 $375 5.71%
    Home Purchase 6 $3,220,000 $536,667 $9,090 6.00%
    Cash Out Refi 2 $640,000 $320,000 $3,371 6.23%

    For 2023, North Jersey Federal Credit Union's most frequently cited loan purpose was Other, with 32 originations. The 2nd most popular reason was Home Improvement, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 17 $2,065,000 $121,471 $398 6.63%
    10 Year 14 $920,000 $65,714 $541 6.41%
    30 Year 7 $3,725,000 $532,143 $8,360 6.14%
    5 Year 5 $275,000 $55,000 $225 6.10%
    15 Year 4 $230,000 $57,500 $400 6.63%

    For 2023, North Jersey Federal Credit Union's most frequently cited loan duration was 20 Year, with 17 originations. The 2nd most popular length was 10 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 47 $7,215,000 $153,511

    North Jersey Federal Credit Union's average total fees were $8,360, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 47 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 29 $3,665,000 $126,379
    5-6% 9 $2,285,000 $253,889
    7-8% 5 $505,000 $101,000
    4-5% 3 $715,000 $238,333
    Over 8% 1 $45,000 $45,000

    During 2023, North Jersey Federal Credit Union's average interest rate for loans was 6.14%, while their most frequently originated rate bucket for loans was 6-7%, with 29 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 29 $1,535,000 $52,931 $351 6.66%
    $100k-200k 7 $915,000 $130,714 $770 6.11%
    $200k-400k 6 $1,660,000 $276,667 $2,325 6.04%
    $400k-600k 3 $1,515,000 $505,000 $5,626 6.23%
    $600k-1MM 2 $1,590,000 $795,000 $14,597 5.88%

    2023 saw North Jersey Federal Credit Union place emphasis on $100,000 or less loans with 29 originations, totaling $1,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 19 $4,075,000 $214,474 $2,111 6.16%
    $100k-150k 11 $1,455,000 $132,273 $1,082 6.36%
    $75k-100k 9 $685,000 $76,111 $1,118 7.06%
    $50k-75k 5 $235,000 $47,000 $320 6.65%
    $250k+ 2 $740,000 $370,000 $5,956 6.25%
    $50k or less 1 $25,000 $25,000 $0 6.25%

    North Jersey Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 19 originations. The second most popular income band? $100k-150k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 9 $2,205,000 $245,000 $3,073 6.31%
    30-36% 7 $1,595,000 $227,857 $2,844 5.71%
    <20% 6 $800,000 $133,333 $1,536 6.38%
    45% 5 $565,000 $113,000 $375 6.90%
    40% 3 $355,000 $118,333 $375 6.67%
    39% 3 $145,000 $48,333 $515 6.33%
    43% 3 $485,000 $161,667 $2,046 6.33%
    44% 3 $225,000 $75,000 $503 6.67%
    42% 2 $50,000 $25,000 $375 6.63%
    38% 2 $170,000 $85,000 $375 6.13%
    47% 1 $45,000 $45,000 $375 9.00%
    50-60% 1 $505,000 $505,000 $3,983 6.95%
    36% 1 $35,000 $35,000 $375 6.75%
    37% 1 $35,000 $35,000 $375 6.75%

    North Jersey Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? 30-36%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 27 $3,955,000 $146,481 $1,319 6.30%
    Not provided 12 $2,470,000 $205,833 $2,655 6.33%
    Asian 2 $430,000 $215,000 $2,882 5.88%
    Black 6 $360,000 $60,000 $392 7.42%

    Approval Rates

    Total approvals of all applications
    74.24%

    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 47 $7,215,000 $153,511

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    47 $7,215,000 $153,511

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $1,315,000 $146,111 $683 6.22%
    40-60% 2 $410,000 $205,000 $375 5.88%
    60-80% 5 $2,575,000 $515,000 $6,623 5.79%
    80-100% 3 $1,475,000 $491,667 $8,595 6.25%
    Under 20% 28 $1,440,000 $51,429 $350 6.68%