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Somerset County, New Jersey · 2025

Mortgage lenders in Somerset County, NJ: denial rates and top lenders (2025)

413 lenders acted on 11,569 mortgage applications for properties in Somerset County in 2025. 15.5% were denied (New Jersey: 17.7%). Median rate on closed loans 6.63%; median loan $345,000; median property value $685,000.

12kApplications
15.5%Denial ratestate 17.7%
6.63%Median ratestate 6.75%
$345,000Median loan
$685,000Median property value

Largest lenders in Somerset County

#LenderGradeApplicationsOriginatedDenial rateMedian rate
1 Rocket Mortgage C 697538 11.9%6.69%
2 Bank of America F 690313 24.8%6.00%
3 PNC Bank D 490278 22.9%8.00%
4 TD Bank D 486275 21.8%7.34%
5 United Shore Financial Services B 423290 11.4%6.23%
6 Affinity C 409267 21.5%4.90%
7 Citizens Bank C 368233 25.5%7.40%
8 Crosscountry Mortgage B 322203 4.4%6.63%
9 JPMorgan Chase Bank B 269166 9.3%6.38%
10 Guaranteed Rate B 262132 5.7%6.50%
11 Newrez D 26088 17.3%7.25%
12 Pennymac Loan Services C 239117 11.7%6.50%
13 Loandepot.Com D 189121 15.3%6.88%
14 Embrace Home Loans A 179150 0.0%6.63%
15 Coastal Community Bank C 17035 1.2%9.99%
16 Spring Eq D 16544 41.8%8.73%
17 Guaranteed Rate Affinity A 149103 2.0%6.63%
18 Broker Solutions D 13540 11.9%6.75%
19 Movement Mortgage A 12889 5.5%6.63%
20 Provident Bank C 12569 27.2%6.75%
21 Valley National Bank B 12284 16.4%5.87%
22 U.S. Bank D 12073 21.7%6.63%
23 Sofi Bank D 11731 6.8%7.54%
24 Manufacturers and Traders Trust C 11467 26.3%5.88%
25 Freedom Mortgage B 11444 12.3%6.25%

Best approval odds in Somerset County

Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.

#LenderDecidedDecision denial rate
1American Federal Mortgage510.0%
2Embrace Home Loans1530.0%
3Coastal Community Bank1351.5%
4CMG Mortgage651.5%
5Advisors Mortgage Group531.9%
6Guaranteed Rate Affinity1082.8%
7K. Hovnanian American Mortgage865.8%
8Movement Mortgage1195.9%
9Crosscountry Mortgage2216.3%
10Paramount Residential Mortgage Group547.4%

What Somerset County borrowers applied for

By loan purpose

Home purchase 4,491 39% · 5.8% denied
Refinance 2,031 18% · 13.5% denied
Cash-out refinance 1,914 17% · 19.2% denied
Home improvement 1,553 13% · 27.8% denied
Other / HELOC 1,580 14% · 29.0% denied

By loan type

Conventional 10,409 90% · 15.4% denied
FHA 911 8% · 18.4% denied
VA 239 2% · 9.6% denied
USDA / RHS 10 0% · 10.0% denied

Why applications were denied

Debt-to-income ratio 777 44%
Credit history 360 20%
Incomplete application 221 12%
Collateral 196 11%
Other 131 7%
Unverifiable information 55 3%
Insufficient cash 26 1%
Employment history 9 1%
Mortgage insurance denied 1 0%

Somerset County by year

YearApplicationsOriginatedDenial rateMedian rateMedian loan
20239,4025,05918.8%6.88%$305,000
202410,5155,89018.1%6.99%$325,000
202511,5696,70315.5%6.63%$345,000

Frequently asked questions

15.5% of applications in Somerset County were denied in 2025, against 17.7% statewide in New Jersey.

Rocket Mortgage, with 697 applications in 2025 and a denial rate of 11.9%.

The median mortgage application in Somerset County in 2025 was for $345,000; the median property value on originated loans was $685,000.