Bank of America in New Jersey vs the state
30.6%Denial rate+12.95 pts vs state
41.5%Decision denial rate+18.46 pts vs state
42.3%Origination rate-13.38 pts vs state
6.00%Median rate-0.75 pts vs state
1.06Rate spread (pts)+0.77 pts vs state
$150kMedian applicant income
5,136Loans originated
3,720Denied
Trend in New Jersey
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 12,935 | 4,736 | 46.8% | 6.99% | #1 |
| 2024 | 11,794 | 4,633 | 34.8% | 6.99% | #3 |
| 2025 | 12,142 | 5,136 | 30.6% | 6.00% | #3 |
What Bank of America lends in New Jersey
By loan purpose
By loan type
Why it denied New Jersey applicants
Where in New Jersey
Counties with the most Bank of America applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Bergen County | 1,550 | 730 | 417 | 26.9% |
| Monmouth County | 1,248 | 605 | 315 | 25.2% |
| Middlesex County | 1,166 | 461 | 385 | 33.0% |
| Ocean County | 933 | 389 | 284 | 30.4% |
| Morris County | 913 | 446 | 222 | 24.3% |
| Essex County | 908 | 362 | 319 | 35.1% |
| Union County | 822 | 375 | 241 | 29.3% |
| Somerset County | 690 | 313 | 171 | 24.8% |
| Burlington County | 585 | 233 | 183 | 31.3% |
| Mercer County | 495 | 220 | 141 | 28.5% |
Other large lenders in New Jersey
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Rocket Mortgage | C | 16,339 | 16.1% | 6.75% |
| TD Bank | D | 12,532 | 26.2% | 7.49% |
| Citizens Bank | C | 12,113 | 28.9% | 7.40% |
| Crosscountry Mortgage | B | 12,042 | 5.3% | 6.75% |
| PNC Bank | D | 10,815 | 27.8% | 7.75% |
| United Shore Financial Services | B | 10,552 | 15.3% | 6.38% |
| Guaranteed Rate | B | 8,643 | 5.5% | 6.58% |
| Newrez | D | 6,535 | 22.5% | 6.99% |
| Loandepot.Com | D | 6,491 | 15.3% | 6.63% |
| Pennymac Loan Services | C | 6,343 | 12.9% | 6.62% |
Frequently asked questions
New Jersey: 12,142 applications in 2025, of which 5,136 were originated and 3,720 denied.
30.6% of all applications, or 41.5% of the applications it actually decided on. The New Jersey statewide average across all lenders was 17.7%.
The median rate on loans Bank of America originated in New Jersey in 2025 was 6.00%, against a statewide median of 6.75%.
About this data. Figures are Bank of America's own HMDA filing for properties located in New Jersey, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology