Sofi Bank in New Jersey vs the state
9.7%Denial rate-8.04 pts vs state
24.6%Decision denial rate+1.56 pts vs state
28.9%Origination rate-26.77 pts vs state
7.69%Median rate+0.94 pts vs state
1.72Rate spread (pts)+1.44 pts vs state
$157kMedian applicant income
752Loans originated
251Denied
Trend in New Jersey
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 322 | 84 | 15.2% | 6.81% | #127 |
| 2024 | 660 | 223 | 17.9% | 7.13% | #86 |
| 2025 | 2,601 | 752 | 9.7% | 7.69% | #27 |
What Sofi Bank lends in New Jersey
By loan purpose
By loan type
Why it denied New Jersey applicants
Where in New Jersey
Counties with the most Sofi Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Bergen County | 296 | 73 | 33 | 11.1% |
| Middlesex County | 251 | 52 | 20 | 8.0% |
| Monmouth County | 238 | 83 | 29 | 12.2% |
| Essex County | 210 | 59 | 17 | 8.1% |
| Ocean County | 184 | 56 | 21 | 11.4% |
| Morris County | 162 | 57 | 10 | 6.2% |
| Union County | 157 | 47 | 14 | 8.9% |
| Burlington County | 149 | 45 | 14 | 9.4% |
| Hudson County | 124 | 41 | 11 | 8.9% |
| Camden County | 123 | 37 | 15 | 12.2% |
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: 2,601 applications in 2025, of which 752 were originated and 251 denied.
9.7% of all applications, or 24.6% of the applications it actually decided on. The New Jersey statewide average across all lenders was 17.7%.
The median rate on loans Sofi Bank originated in New Jersey in 2025 was 7.69%, against a statewide median of 6.75%.
About this data. Figures are Sofi Bank'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