RCN Capital in New Jersey vs the state
37.9%Denial rate+20.22 pts vs state
38.3%Decision denial rate+15.25 pts vs state
61.1%Origination rate+5.39 pts vs state
9.77%Median rate+3.02 pts vs state
—Rate spread (pts)
—Median applicant income
298Loans originated
185Denied
Trend in New Jersey
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 613 | 393 | 12.7% | 8.39% | #85 |
| 2024 | 535 | 374 | 14.2% | 8.37% | #100 |
| 2025 | 488 | 298 | 37.9% | 9.77% | #120 |
What RCN Capital lends in New Jersey
By loan purpose
By loan type
Why it denied New Jersey applicants
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% |
| Bank of America | F | 12,142 | 30.6% | 6.00% |
| 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% |
Frequently asked questions
New Jersey: 488 applications in 2025, of which 298 were originated and 185 denied.
37.9% of all applications, or 38.3% of the applications it actually decided on. The New Jersey statewide average across all lenders was 17.7%.
The median rate on loans RCN Capital originated in New Jersey in 2025 was 9.77%, against a statewide median of 6.75%.
About this data. Figures are RCN Capital'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