Spring Eq in New Jersey vs the state
50.0%Denial rate+32.29 pts vs state
62.0%Decision denial rate+38.91 pts vs state
29.2%Origination rate-26.52 pts vs state
9.03%Median rate+2.28 pts vs state
2.87Rate spread (pts)+2.59 pts vs state
$144kMedian applicant income
1,279Loans originated
2,192Denied
Trend in New Jersey
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 3,555 | 755 | 65.4% | 11.48% | #14 |
| 2024 | 4,232 | 1,180 | 55.7% | 10.12% | #13 |
| 2025 | 4,386 | 1,279 | 50.0% | 9.03% | #13 |
What Spring Eq lends in New Jersey
By loan purpose
By loan type
Why it denied New Jersey applicants
Where in New Jersey
Counties with the most Spring Eq applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Bergen County | 449 | 117 | 212 | 47.2% |
| Monmouth County | 395 | 133 | 195 | 49.4% |
| Middlesex County | 386 | 107 | 194 | 50.3% |
| Ocean County | 385 | 127 | 192 | 49.9% |
| Essex County | 347 | 78 | 191 | 55.0% |
| Burlington County | 318 | 113 | 131 | 41.2% |
| Union County | 287 | 80 | 154 | 53.7% |
| Morris County | 252 | 70 | 126 | 50.0% |
| Passaic County | 239 | 78 | 115 | 48.1% |
| Camden County | 226 | 62 | 121 | 53.5% |
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% |
| 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: 4,386 applications in 2025, of which 1,279 were originated and 2,192 denied.
50.0% of all applications, or 62.0% of the applications it actually decided on. The New Jersey statewide average across all lenders was 17.7%.
The median rate on loans Spring Eq originated in New Jersey in 2025 was 9.03%, against a statewide median of 6.75%.
About this data. Figures are Spring Eq'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