Fulton Bank Of New Jersey Mortgage Rates, Fees & Info

East Petersburg, PA

LEI: 8VPESZVIXN83ENVWIB56

Tax ID: 22-2955814

Latest/2023 | 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
  • Complaints
  • 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

    Fulton Bank Of New Jersey is a smaller bank specializing in Home Purchase and Refi loans. Fulton Bank Of New Jersey has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Atlantic City, Trenton, and Allentown among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Fulton Bank Of New Jersey has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Fulton Bank Of New Jersey is typically a low 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

    1,229

    Origination Dollar Volume (All Markets)

    $248,245,000

    Awards

    Fulton Bank of New Jersey 30 Year Conventional Loans silver Fulton Bank of New Jersey 30 Year Conventional Loans silver Fulton Bank of New Jersey 30 Year Conventional Loans silver Fulton Bank of New Jersey 30 Year Conventional Loans bronze
    Show all (4) 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) 515 $153,785,000 $298,612 $5,823 3.99%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 518 $62,600,000 $120,849 $3,639 3.81%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 63 $10,905,000 $173,095 $3,498 4.26%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 37 $7,535,000 $203,649 $4,806 3.87%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 54 $5,750,000 $106,481 $3,267 3.52%
    OCEAN CITY, NJ (FHA|USDA|VA) 11 $3,465,000 $315,000 $3,679 3.84%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 20 $1,950,000 $97,500 $4,069 4.27%
    SALISBURY, MD-DE (FHA|USDA|VA) 3 $545,000 $181,667 $2,957 4.79%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $425,000 $425,000 $2,612 4.63%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 2 $330,000 $165,000 $4,356 4.75%
    LANCASTER, PA (FHA|USDA|VA) 1 $245,000 $245,000 $5,270 4.75%
    Pottsville, PA (FHA|USDA|VA) 1 $205,000 $205,000 $3,291 4.63%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $175,000 $175,000 $2,142 4.63%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $165,000 $165,000 $3,545 4.25%
    Outside of Metro Areas 1 $165,000 $165,000 $3,557 4.75%
    Fulton Bank Of New Jersey's top markets include New York, Philadelphia, Atlantic City, Trenton, and Allentown among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Fulton Bank of New Jersey 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: 55
    Bogota Savings Bank
    Similarity Rank: 63
    Iron Workers Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 80
    Haddon Savings Bank
    Similarity Rank: 116
    The Atlantic Federal Credit Union
    Similarity Rank: 120
    Freehold Savings Bank
    Similarity Rank: 120
    Blue Foundry Bank
    Similarity Rank: 125
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 126

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 802 $96,320,000 $120,100 n/a 3.53%
    Conventional 427 $151,925,000 $355,796 $4,680 4.64%

    For 2018, Fulton Bank Of New Jersey's most frequently originated type of loan was HELOC, with 802 originations. Their 2nd most popular type was Conventional, with 427 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 339 $118,505,000 $349,572 $4,923 4.68%
    Refi 321 $59,825,000 $186,371 $4,318 3.54%
    Other 316 $32,310,000 $102,247 $3,564 3.55%
    Home Improvement 202 $20,690,000 $102,426 $4,736 3.63%
    Cash Out Refi 51 $16,915,000 $331,667 $3,699 4.59%

    For 2018, Fulton Bank Of New Jersey's most frequently cited loan purpose was Home Purchase, with 339 originations. The 2nd most popular reason was Refi, with 321 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 806 $97,930,000 $121,501 $0 3.54%
    30 Year 296 $84,800,000 $286,486 $3,982 4.63%
    30+ year 63 $50,705,000 $804,841 $8,780 4.62%
    15 Year 33 $6,985,000 $211,667 $3,452 4.17%
    20 Year 22 $5,810,000 $264,091 $3,392 5.10%
    10 Year 7 $1,335,000 $190,714 $2,939 5.24%
    1 Year 2 $680,000 $340,000 $0 5.13%

    For 2018, Fulton Bank Of New Jersey's most frequently cited loan duration was Other, with 806 originations. The 2nd most popular length was 30 Year, with 296 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 341 $119,155,000 $349,428
    $1k-2k 35 $8,865,000 $253,286
    $2k-3k 11 $2,875,000 $261,364
    $5k+ 7 $11,525,000 $1,646,429
    $4k-5k 5 $1,795,000 $359,000
    $3k-4k 1 $175,000 $175,000

    Fulton Bank Of New Jersey's average total fees were $3,982, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 341 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 442 $66,770,000 $151,063
    2.5-3% 340 $41,830,000 $123,029
    4-5% 310 $105,280,000 $339,613
    5-6% 82 $28,560,000 $348,293
    6-7% 32 $3,460,000 $108,125
    7-8% 17 $2,075,000 $122,059
    Over 8% 6 $270,000 $45,000

    During 2018, Fulton Bank Of New Jersey's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 3-4%, with 442 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 520 $27,330,000 $52,558 $2,486 3.74%
    $100k-200k 311 $43,175,000 $138,826 $3,158 3.90%
    $200k-400k 243 $66,305,000 $272,860 $4,246 4.11%
    $400k-600k 80 $38,690,000 $483,625 $5,137 4.03%
    $600k-1MM 52 $38,550,000 $741,346 $6,565 4.35%
    $1MM+ 23 $34,195,000 $1,486,739 $15,368 4.58%

    2018 saw Fulton Bank Of New Jersey place emphasis on $100,000 or less loans with 520 originations, totaling $27,330,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 260 $58,820,000 $226,231 $5,065 3.88%
    $100k-150k 234 $37,190,000 $158,932 $4,296 3.69%
    $50k-75k 197 $20,385,000 $103,477 $3,183 3.98%
    $250k+ 170 $88,470,000 $520,412 $8,465 4.01%
    $75k-100k 157 $20,285,000 $129,204 $3,914 3.75%
    $50k or less 156 $11,780,000 $75,513 $2,637 3.98%

    Fulton Bank Of New Jersey lent most frequently to those with incomes in the $150k-250k range, with 260 originations. The second most popular income band? $100k-150k, with 234 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 244 $43,590,000 $178,648 $4,960 3.71%
    30-36% 217 $38,505,000 $177,442 $4,230 3.92%
    <20% 98 $21,050,000 $214,796 $5,876 3.52%
    49% 73 $14,095,000 $193,082 $5,903 3.76%
    41% 63 $14,325,000 $227,381 $4,139 4.15%
    40% 52 $16,800,000 $323,077 $10,217 4.03%
    38% 50 $9,430,000 $188,600 $4,323 4.02%
    46% 45 $7,015,000 $155,889 $4,218 3.98%
    42% 43 $16,385,000 $381,047 $5,833 4.22%
    43% 43 $5,915,000 $137,558 $3,126 3.95%
    37% 41 $6,855,000 $167,195 $4,080 3.71%
    44% 40 $8,040,000 $201,000 $3,440 4.00%
    39% 40 $8,950,000 $223,750 $4,765 3.96%
    48% 37 $6,345,000 $171,486 $3,230 4.03%
    45% 36 $7,000,000 $194,444 $3,698 3.79%
    47% 30 $5,510,000 $183,667 $3,281 4.15%
    36% 30 $7,100,000 $236,667 $3,904 4.01%
    50-60% 14 $2,920,000 $208,571 $6,438 3.53%

    Fulton Bank Of New Jersey lent most frequently to those with DTI ratios of 20-30%, with 244 originations. The next most common DTI ratio? 30-36%, with 217 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 884 $178,550,000 $201,980 $4,504 3.89%
    Not provided 192 $30,830,000 $160,573 $5,198 3.57%
    Asian Indian 21 $12,765,000 $607,857 $13,743 4.05%
    Asian 58 $11,900,000 $205,172 $3,846 4.29%
    Not applicable 28 $7,540,000 $269,286 $0 5.45%
    Black 41 $5,865,000 $143,049 $3,138 4.45%
    Korean 1 $625,000 $625,000 $4,702 3.88%
    American Indian 3 $155,000 $51,667 $0 3.11%
    Filipino 1 $15,000 $15,000 $0 3.49%

    Approval Rates

    Total approvals of all applications
    65.77%

    Fulton Bank Of New Jersey has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    83.73%

    Fulton Bank Of New Jersey has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,229 $248,245,000 $201,989

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $2,860,000 $715,000
    Single Family (1-4 Units):Site-Built 1,225 $245,385,000 $200,314

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 305 $35,535,000 $116,508 $3,133 3.52%
    40-60% 176 $41,200,000 $234,091 $4,091 3.87%
    60-80% 239 $80,025,000 $334,833 $5,134 4.49%
    80-100% 214 $75,950,000 $354,907 $4,621 4.38%
    Under 20% 294 $15,180,000 $51,633 $0 3.54%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FULTON FINANCIAL CORPORATION Other type of mortgage Closing on a mortgage 1 12.5%
    FULTON FINANCIAL CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 25.0%
    FULTON FINANCIAL CORPORATION Conventional home mortgage Struggling to pay mortgage 2 25.0%
    FULTON FINANCIAL CORPORATION Conventional home mortgage Trouble during payment process 2 25.0%
    FULTON FINANCIAL CORPORATION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 12.5%