Summit Funding in New Jersey vs the state
14.3%Denial rate-3.40 pts vs state
25.0%Decision denial rate+1.95 pts vs state
42.9%Origination rate-12.82 pts vs state
6.93%Median rate+0.18 pts vs state
0.62Rate spread (pts)+0.34 pts vs state
$94kMedian applicant income
6Loans originated
2Denied
Trend in New Jersey
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 27 | 11 | 14.8% | 6.75% | #411 |
| 2024 | 10 | 1 | 20.0% | 7.38% | #529 |
| 2025 | 14 | 6 | 14.3% | 6.93% | #494 |
What Summit Funding lends in New Jersey
By loan purpose
By loan type
Why it denied New Jersey applicants
Where in New Jersey
Counties with the most Summit Funding applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Passaic County | 3 | 2 | 1 | 33.3% |
| Essex County | 3 | 1 | 0 | 0.0% |
| Hudson County | 2 | 1 | 0 | 0.0% |
| Morris County | 1 | 0 | 0 | 0.0% |
| Atlantic County | 1 | 0 | 0 | 0.0% |
| Union County | 1 | 1 | 0 | 0.0% |
| Somerset County | 1 | 1 | 0 | 0.0% |
| Mercer County | 1 | 0 | 1 | 100.0% |
| Gloucester County | 1 | 0 | 0 | 0.0% |
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: 14 applications in 2025, of which 6 were originated and 2 denied.
14.3% of all applications, or 25.0% of the applications it actually decided on. The New Jersey statewide average across all lenders was 17.7%.
The median rate on loans Summit Funding originated in New Jersey in 2025 was 6.93%, against a statewide median of 6.75%.
About this data. Figures are Summit Funding'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