Largest mortgage lenders in New Jersey
By applications received in 2025. Grade is the lender's national grade.
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Rocket Mortgage | C | 16,339 | 12,035 | 16.1% | 6.75% |
| 2 | TD Bank | D | 12,532 | 6,695 | 26.2% | 7.49% |
| 3 | Bank of America | F | 12,142 | 5,136 | 30.6% | 6.00% |
| 4 | Citizens Bank | C | 12,113 | 7,208 | 28.9% | 7.40% |
| 5 | Crosscountry Mortgage | B | 12,042 | 7,558 | 5.3% | 6.75% |
| 6 | PNC Bank | D | 10,815 | 5,755 | 27.8% | 7.75% |
| 7 | United Shore Financial Services | B | 10,552 | 7,084 | 15.3% | 6.38% |
| 8 | Guaranteed Rate | B | 8,643 | 4,826 | 5.5% | 6.58% |
| 9 | Newrez | D | 6,535 | 1,951 | 22.5% | 6.99% |
| 10 | Loandepot.Com | D | 6,491 | 4,334 | 15.3% | 6.63% |
| 11 | Pennymac Loan Services | C | 6,343 | 3,144 | 12.9% | 6.62% |
| 12 | JPMorgan Chase Bank | B | 5,588 | 3,325 | 10.6% | 6.38% |
| 13 | Spring Eq | D | 4,386 | 1,279 | 50.0% | 9.03% |
| 14 | Police & Fire | C | 4,063 | 2,136 | 30.3% | 6.24% |
| 15 | Freedom Mortgage | B | 4,045 | 1,432 | 9.7% | 6.25% |
| 16 | Coastal Community Bank | C | 4,026 | 811 | 2.0% | 10.49% |
| 17 | Broker Solutions | D | 3,976 | 1,346 | 9.7% | 6.88% |
| 18 | CMG Mortgage | A | 3,879 | 2,257 | 7.0% | 6.75% |
| 19 | Navy Federal Credit Union | D | 3,633 | 1,515 | 25.2% | 7.84% |
| 20 | Discover Bank | F | 3,274 | 451 | 52.7% | 8.52% |
| 21 | Wells Fargo Bank | B | 3,047 | 1,716 | 14.7% | 6.25% |
| 22 | Manufacturers and Traders Trust | C | 2,864 | 1,502 | 33.5% | 5.99% |
| 23 | American Neighborhood Mortgage Acceptance Company | B | 2,861 | 1,899 | 2.5% | 6.63% |
| 24 | OceanFirst Bank | A | 2,861 | 2,071 | 9.5% | 6.38% |
| 25 | AmeriSave Mortgage | D | 2,771 | 888 | 56.4% | 8.38% |
Best approval odds in New Jersey
Lowest decision denial rate among lenders that decided at least 300 New Jersey applications in 2025.
| # | Lender | Decided | Decision denial rate | Median rate |
|---|---|---|---|---|
| 1 | Rf Renovo Management Company | 693 | 0.1% | 9.50% |
| 2 | Velocity Commercial Capital | 402 | 0.5% | 9.99% |
| 3 | FM Home Loans | 605 | 0.7% | 6.99% |
| 4 | Acre Mortgage & Financial | 338 | 1.2% | 6.63% |
| 5 | Affordable Mortgage Advisors, LLC. | 1,630 | 2.5% | 6.63% |
| 6 | Coastal Community Bank | 2,890 | 2.7% | 10.49% |
| 7 | Embrace Home Loans | 641 | 3.0% | 6.50% |
| 8 | Ark Mortgage | 389 | 3.1% | 7.25% |
| 9 | Citadel Servicing | 430 | 3.3% | 7.63% |
| 10 | Nationwide Mortgage Bankers | 574 | 3.3% | 6.75% |
Lowest median rates in New Jersey
Among lenders reporting rates on at least 100 originated loans. Product mix matters: a VA specialist will show a lower median than a jumbo lender.
| # | Lender | Priced loans | Median rate | Denial rate |
|---|---|---|---|---|
| 1 | Picatinny Federal Credit Union | 286 | 3.99% | 19.4% |
| 2 | Affinity | 1,476 | 4.90% | 25.9% |
| 3 | United Nations Federal Credit Union | 232 | 5.75% | 6.5% |
| 4 | Charles Schwab Bank | 178 | 5.78% | 4.6% |
| 5 | UBS Bank USA | 139 | 5.88% | 4.6% |
| 6 | Lennar Mortgage | 546 | 5.88% | 4.4% |
| 7 | Morgan Stanley Private Bank | 548 | 5.90% | 2.9% |
| 8 | Lakeview Community Capital | 125 | 5.99% | 0.7% |
| 9 | Planet Home Lending | 170 | 5.99% | 21.8% |
| 10 | HSBC Bank USA | 144 | 5.99% | 12.6% |
What New Jersey borrowers applied for
By loan purpose
By loan type
Denial rate by applicant income
Why New Jersey applications were denied
New Jersey mortgage market by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan | Lenders |
|---|---|---|---|---|---|---|
| 2023 | 261,052 | 139,107 | 21.3% | 6.99% | $245,000 | 899 |
| 2024 | 289,315 | 156,859 | 20.2% | 6.99% | $265,000 | 875 |
| 2025 | 320,098 | 178,220 | 17.7% | 6.75% | $295,000 | 883 |
New Jersey counties
Counties with at least 200 applications in 2025, most active first.
Frequently asked questions
17.7% of mortgage applications in New Jersey were denied in 2025 (23.1% of applications that reached a decision). Nationally the rate was 18.0%.
Rocket Mortgage handled the most applications in New Jersey in 2025: 16,339, with a denial rate of 16.1%.
Among lenders that decided at least 300 applications in New Jersey, Rf Renovo Management Company had the lowest decision denial rate at 0.1%.
The median interest rate on loans originated in New Jersey in 2025 was 6.75%. That is the rate borrowers actually received, reported by lenders under HMDA, not an advertised rate.