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 Home Purchase and Refi 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, Miami, Urban Honolulu, and Trenton among others. We have data for 43 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. They have a below average pick rate when compared to similar lenders. 1st 2nd Mortgage Company Of N.j. is typically a high 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% | 5/5/24 |
| 30 Year Conventional Refi | 6.53% | 5/5/24 |
| 30 Year Cash-out Refi | 6.63% | 5/5/24 |
| 30 Year FHA Purchase | 7.24% | 5/5/24 |
| 30 Year FHA Refi | 7.01% | 5/5/24 |
| 30 Year VA Purchase | 6.27% | 5/5/24 |
| 15 Year Conventional Purchase | 6.01% | 5/5/24 |
| 15 Year Conventional Refi | 6.23% | 5/5/24 |
| 15 Year Cash-out Refi | 6.23% | 5/5/24 |
| 15 Year FHA Purchase | 7.28% | 5/5/24 |
| 15 Year VA Refi | 7.08% | 5/5/24 |
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
461Origination Dollar Volume (All Markets)
$168,755,000Top 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) | 293 | $117,695,000 | $401,689 | $9,955 | 4.90% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 60 | $15,370,000 | $256,167 | $8,861 | 5.01% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 19 | $7,885,000 | $415,000 | $10,360 | 4.99% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 5 | $2,525,000 | $505,000 | $13,387 | 5.43% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 6 | $2,150,000 | $358,333 | $8,999 | 4.85% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 7 | $2,035,000 | $290,714 | $7,972 | 4.55% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 8 | $2,030,000 | $253,750 | $9,061 | 4.98% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 7 | $1,785,000 | $255,000 | $7,836 | 5.64% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 4 | $1,370,000 | $342,500 | $6,800 | 5.34% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $1,310,000 | $327,500 | $6,899 | 3.45% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $1,270,000 | $317,500 | $4,622 | 4.88% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $4,620 | 4.94% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $825,000 | $825,000 | $22,291 | 5.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 4 | $820,000 | $205,000 | $5,406 | 5.09% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $4,063 | 3.58% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $7,634 | 3.81% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $3,610 | 5.38% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $8,963 | 5.50% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $5,646 | 6.99% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $14,457 | 4.06% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $7,529 | 6.19% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $6,288 | 5.25% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $15,661 | 5.25% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $6,580 | 3.93% |
| Outside of Metro Areas | 1 | $525,000 | $525,000 | $7,610 | 7.13% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $6,128 | 3.38% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $10,782 | 6.63% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $11,721 | 4.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $10,714 | 5.38% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $8,204 | 2.75% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,704 | 5.63% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $11,369 | 4.38% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,787 | 4.50% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,116 | 5.13% |
| Keene, NH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,285 | 2.99% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,999 | 5.00% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 3.50% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 6.13% |
| READING, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $7,355 | 4.25% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,547 | 2.50% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,332 | 6.13% |
| SYRACUSE, NY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 5.50% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against 1ST 2ND MORTGAGE COMPANY OF N.J. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 365 | $131,525,000 | $360,342 | $7,807 | 4.92% |
| FHA | 95 | $36,755,000 | $386,895 | $15,185 | 4.89% |
| VA | 1 | $475,000 | $475,000 | $23,123 | 3.63% |
For 2022, 1st 2nd Mortgage Company Of N.j.'s most frequently originated type of loan was Conventional, with 365 originations. Their 2nd most popular type was FHA, with 95 originations.
Loan Reason
For 2022, 1st 2nd Mortgage Company Of N.j.'s most frequently cited loan purpose was Home Purchase, with 331 originations. The 2nd most popular reason was Refi, with 115 originations.
Loan Duration/Length
For 2022, 1st 2nd Mortgage Company Of N.j.'s most frequently cited loan duration was 30 Year, with 415 originations. The 2nd most popular length was 15 Year, with 29 originations.
Origination Fees/Closing Costs
1st 2nd Mortgage Company Of N.j.'s average total fees were $9,839, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 159 originations.
Interest Rates
During 2022, 1st 2nd Mortgage Company Of N.j.'s average interest rate for loans was 5.03%, while their most frequently originated rate bucket for loans was 5-6%, with 130 originations.
Loan Sizing
2022 saw 1st 2nd Mortgage Company Of N.j. place emphasis on $200k-400k loans with 214 originations, totaling $63,050,000 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 139 originations. The second most popular income band? $75k-100k, with 97 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 117 originations. The next most common DTI ratio? 30-36%, with 95 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.73%
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 origination78.52%
1st 2nd Mortgage Company Of N.j. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 461 | $168,755,000 | $366,063 |