1st 2nd Mortgage Company Of N.j. Rates, Fees & Info
CRESSKILL, NJLEI: 549300ZOBXG0DT4I6U54
Tax ID: 22-2437469
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Mortgage Data
Review & Overview
1st 2nd Mortgage Company Of N.j. is a smaller mortgage company specializing in Refi and Home Purchase loans. 1st 2nd Mortgage Company Of N.j. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: New York, Philadelphia, Jacksonville, Miami, and Los Angeles among others. We have data for 60 markets. (Some data included below & more in-depth data is available with an active subscription.)1st 2nd Mortgage Company Of N.j. has an above average approval rate when compared to the average across all lenders. 1st 2nd Mortgage Company Of N.j. 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.58% | 12/16/24 |
| 30 Year Conventional Refi | 6.53% | 12/16/24 |
| 30 Year Cash-out Refi | 6.63% | 12/16/24 |
| 30 Year FHA Purchase | 7.24% | 12/16/24 |
| 30 Year FHA Refi | 7.01% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 6.01% | 12/16/24 |
| 15 Year Conventional Refi | 6.23% | 12/16/24 |
| 15 Year Cash-out Refi | 6.23% | 12/16/24 |
| 15 Year FHA Purchase | 7.28% | 12/16/24 |
| 15 Year VA Refi | 7.08% | 12/16/24 |
| 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. | ||
1st 2nd Mortgage Company Of N.j. Mortgage Calculator
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Originations
1,790Origination Dollar Volume (All Markets)
$569,310,000Awards
1ST 2ND MORTGAGE COMPANY OF N.J. - 2020
1ST 2ND MORTGAGE COMPANY OF N.J. is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 1,135 | $379,865,000 | $334,683 | $5,740 | 2.99% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 228 | $63,210,000 | $277,237 | $5,136 | 2.81% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 126 | $32,590,000 | $258,651 | $3,836 | 2.60% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 64 | $20,740,000 | $324,063 | $6,393 | 2.87% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 29 | $11,885,000 | $409,828 | $5,454 | 3.09% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 19 | $8,385,000 | $441,316 | $12,200 | 3.30% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 17 | $6,365,000 | $374,412 | $3,846 | 2.92% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 13 | $3,995,000 | $307,308 | $3,278 | 3.05% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 13 | $3,665,000 | $281,923 | $3,774 | 2.72% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 11 | $3,405,000 | $309,545 | $6,589 | 3.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 10 | $3,340,000 | $334,000 | $4,091 | 3.11% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 10 | $2,790,000 | $279,000 | $5,881 | 2.98% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 11 | $2,775,000 | $252,273 | $4,258 | 2.92% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 8 | $2,400,000 | $300,000 | $5,359 | 3.09% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 7 | $1,585,000 | $226,429 | $3,389 | 2.89% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 4 | $1,330,000 | $332,500 | $3,624 | 3.19% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $7,009 | 3.04% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $3,758 | 2.63% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $4,318 | 2.65% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $1,000,000 | $500,000 | $6,362 | 3.31% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $5,662 | 2.63% |
| PITTSBURGH, PA (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $5,557 | 2.75% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $4,034 | 2.56% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $5,928 | 3.46% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $3,275 | 2.88% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $2,967 | 3.08% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $2,821 | 2.42% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $680,000 | $170,000 | $3,372 | 2.78% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $3,110 | 3.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $4,163 | 3.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $3,638 | 2.79% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $4,186 | 3.67% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $6,984 | 3.19% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $2,944 | 2.75% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $4,041 | 3.25% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $3,450 | 2.75% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $5,375 | 2.69% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,662 | 3.25% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,468 | 3.13% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 3.38% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,385 | 2.63% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,110 | 2.88% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,137 | 2.50% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,635 | 3.50% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,189 | 2.88% |
| Outside of Metro Areas | 2 | $300,000 | $150,000 | $4,324 | 3.31% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,110 | 2.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $0 | 3.75% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,311 | 2.63% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,430 | 2.75% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,854 | 2.25% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.13% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,332 | 2.88% |
| DOVER, DE (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,523 | 3.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,563 | 3.25% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 3.63% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,864 | 2.50% |
| READING, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,103 | 3.13% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 3.88% |
| Sunbury, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $4,496 | 3.13% |
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Product Mix
For 2020, 1st 2nd Mortgage Company Of N.j.'s most frequently originated type of loan was Conventional, with 1,603 originations. Their 2nd most popular type was FHA, with 173 originations.
Loan Reason
For 2020, 1st 2nd Mortgage Company Of N.j.'s most frequently cited loan purpose was Refi, with 1,305 originations. The 2nd most popular reason was Home Purchase, with 433 originations.
Loan Duration/Length
For 2020, 1st 2nd Mortgage Company Of N.j.'s most frequently cited loan duration was 30 Year, with 1,082 originations. The 2nd most popular length was 15 Year, with 425 originations.
Origination Fees/Closing Costs
1st 2nd Mortgage Company Of N.j.'s average total fees were $6,338, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,327 originations.
Interest Rates
During 2020, 1st 2nd Mortgage Company Of N.j.'s average interest rate for loans was 3.11%, while their most frequently originated rate bucket for loans was 2.5-3%, with 787 originations.
Loan Sizing
2020 saw 1st 2nd Mortgage Company Of N.j. place emphasis on $200k-400k loans with 1,102 originations, totaling $325,920,000 in origination value.
Applicant Income
1st 2nd Mortgage Company Of N.j. lent most frequently to those with incomes in the $100k-150k range, with 621 originations. The second most popular income band? $150k-250k, with 372 originations.
Applicant Debt to Income Ratio
1st 2nd Mortgage Company Of N.j. lent most frequently to those with DTI ratios of 20-30%, with 730 originations. The next most common DTI ratio? <20%, with 448 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
1st 2nd Mortgage Company Of N.j. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,790 | $569,310,000 | $318,050 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,790 | $569,310,000 | $318,050 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| STANDARD MORTGAGE CORPORATION | Conventional home mortgage | Incorrect information on your report | 1 | 14.3% |
| STANDARD MORTGAGE CORPORATION | Conventional home mortgage | Trouble during payment process | 3 | 42.9% |
| STANDARD MORTGAGE CORPORATION | FHA mortgage | Struggling to pay mortgage | 2 | 28.6% |
| STANDARD MORTGAGE CORPORATION | VA mortgage | Closing on a mortgage | 1 | 14.3% |