New Jersey mortgages and home buyers, 2025
Incomes, down payments, rates, loan costs, denials and lenders across New Jersey's 21 counties, from official HMDA records.
HMDA 2025 data released June 23, 2026
In 2025, lenders reported 63,821 home-purchase mortgages for owner-occupied, single-family homes in New Jersey. The median buyer borrowed $455,000 on a home valued at $565,000 and reported a household income of $155,000.
Buyers financed a median 80% of the home's value (roughly 20% down), paid a median 6.625% on 30-year fixed conventional loans and faced median conventional loan costs of $6,720.
Lenders denied 8.4% of completed home-purchase applications.
Key facts
- Home buyers' median income ($155,000) is 34% higher than the U.S. median ($116,000).
- Median conventional loan costs ($6,720) were 21% higher than the U.S. median ($5,570).
- FHA loans made up 14.9% of purchase mortgages, versus 21.1% nationally.
- 53.9% of buyers put at least 20% down (financed 80% or less), compared with 38.5% nationally.
- The most common age bracket among borrowers was 25–34 (35.4% of purchase loans).
- 48.5% of purchase mortgages had a single borrower with no co-applicant.
- The most-cited reason for denial was debt-to-income ratio (36.5% of denials with a stated reason).
Conforming limits in New Jersey range from $832,750 to $1,209,750 for a one-unit home in 2026. See every New Jersey county's 2026 FHA and conforming loan limits.
New Jersey counties compared
Click a column to sort. Medians shown with at least 30 loans.
| County | Purchase loans | Median loan | Buyer income | Down payment | 30-yr rate | Loan costs | Denial rate | FHA limit |
|---|---|---|---|---|---|---|---|---|
| Atlantic County | 2,040 | $305,000 | $109,000 | 10.0% | 6.625% | $5,210 | 8.3% | $730,250 |
| Bergen County | 5,805 | $605,000 | $208,000 | 20.0% | 6.625% | $7,540 | 9.0% | $1,249,125 |
| Burlington County | 4,217 | $355,000 | $123,000 | 11.3% | 6.625% | $5,930 | 6.8% | $630,200 |
| Camden County | 4,149 | $325,000 | $115,000 | 10.0% | 6.625% | $5,580 | 7.4% | $630,200 |
| Cape May County | 550 | $375,000 | $141,000 | 20.0% | 6.700% | $5,860 | 9.3% | $730,250 |
| Cumberland County | 980 | $275,000 | $92,000 | 3.5% | 6.750% | $6,560 | 10.8% | $541,287 |
| Essex County | 4,218 | $605,000 | $186,000 | 20.0% | 6.575% | $7,710 | 11.6% | $1,249,125 |
| Gloucester County | 3,076 | $325,000 | $124,000 | 10.0% | 6.750% | $5,780 | 6.5% | $630,200 |
| Hudson County | 3,098 | $575,000 | $196,000 | 20.0% | 6.625% | $7,170 | 11.9% | $1,249,125 |
| Hunterdon County | 1,092 | $455,000 | $174,000 | 20.0% | 6.625% | $6,600 | 5.4% | $1,249,125 |
| Mercer County | 2,713 | $405,000 | $149,000 | 20.0% | 6.625% | $6,410 | 9.5% | $541,287 |
| Middlesex County | 5,197 | $475,000 | $156,000 | 20.0% | 6.625% | $6,660 | 9.9% | $1,249,125 |
| Monmouth County | 5,393 | $535,000 | $187,000 | 20.0% | 6.625% | $6,870 | 7.5% | $1,249,125 |
| Morris County | 4,116 | $535,000 | $194,000 | 20.0% | 6.625% | $6,990 | 6.5% | $1,249,125 |
| Ocean County | 5,408 | $395,000 | $130,000 | 20.0% | 6.625% | $6,230 | 6.9% | $1,249,125 |
| Passaic County | 2,592 | $505,000 | $151,000 | 15.0% | 6.625% | $7,410 | 9.4% | $1,249,125 |
| Salem County | 602 | $265,000 | $98,000 | 5.0% | 6.750% | $5,640 | 8.4% | $630,200 |
| Somerset County | 2,724 | $495,000 | $177,000 | 20.0% | 6.625% | $6,810 | 6.0% | $1,249,125 |
| Sussex County | 1,596 | $385,000 | $130,000 | 10.0% | 6.625% | $6,490 | 6.3% | $1,249,125 |
| Union County | 3,168 | $565,000 | $180,000 | 20.0% | 6.625% | $7,860 | 9.0% | $1,249,125 |
| Warren County | 1,055 | $355,000 | $122,000 | 10.1% | 6.750% | $6,270 | 8.7% | $541,287 |
Who bought homes in New Jersey
Home-purchase mortgages for owner-occupied, single-family (1–4 unit) site-built homes, first liens, originated in 2025.
Values are medians; "middle half" is the 25th to 75th percentile.
Loan type
What the homes were for
All first-lien, closed-end purchase mortgages, including second homes and investors.
Borrower age
Debt-to-income ratio
Monthly debts (including the new payment) as a share of income, as used in underwriting.
What borrowing cost in New Jersey
Medians for 2025 home-purchase loans. Total loan costs are section D of the Loan Estimate/Closing Disclosure (lender and third-party loan charges, excluding taxes, prepaids and escrow). FHA and VA costs include the upfront mortgage insurance premium or VA funding fee, so compare like with like.
| Measure | New Jersey | U.S. |
|---|---|---|
| 30-year fixed rate · conventional | 6.625% | 6.625% |
| 30-year fixed rate · FHA | 6.375% | 6.250% |
| 30-year fixed rate · VA | 6.250% | 6.125% |
| 15-year fixed rate · conventional | 5.750% | 5.875% |
| Rate spread vs. APOR · conventional | +0.12 pts | +0.13 pts |
| Total loan costs · conventional | $6,720 | $5,570 |
| Total loan costs · FHA | $15,860 | $11,310 |
| Total loan costs · VA | $8,370 | $6,490 |
| Origination charges (all loan types) | $1,830 | $1,860 |
| Borrowers paying discount points | 41.5% | 51.3% |
| Points paid, when paid (% of loan) | 0.75% | 0.87% |
| Borrowers receiving lender credits | 39.0% | 33.1% |
| Adjustable-rate mortgages | 8.9% | 7.4% |
| Jumbo loans (above conforming limit) | 3.6% | 3.8% |
Medians are shown only when at least 30 loans report the field. Rates are those reported at closing; market rates changed during 2025, which the rate spread (APR minus the average prime offer rate on the lock date) adjusts for.
Approvals and denials
New Jersey: 6,026 of 71,786 completed home-purchase applications were denied (8.4%).
Denial rate
| Application | New Jersey | U.S. |
|---|---|---|
| Home purchase | 8.4% | 8.5% |
| Conventional | 7.2% | 7.1% |
| FHA | 14.0% | 12.5% |
| VA | 9.8% | 8.0% |
| USDA | 23.5% | 12.5% |
| Refinance | 15.8% | 17.9% |
| Cash-out refinance | 31.3% | 33.6% |
Main reason for purchase denials
First reason the lender reported.
Denial rate = denied ÷ (originated + approved but not accepted + denied). Withdrawn and incomplete applications are excluded. Differences between places reflect who applies, not only lender behavior.
Refinancing in New Jersey
Top mortgage lenders in New Jersey
| # | Lender | Loans | Share | Denial rate | 30-yr rate* | Spread* | Costs* |
|---|---|---|---|---|---|---|---|
| 1 | Rocket Mortgage, LLC | 7,232 | 7.7% | 13.2% | 6.625% | +0.09 | $6,770 |
| 2 | United Wholesale Mortgage (UWM) | 6,119 | 6.5% | 13.4% | 6.625% | +0.23 | $10,340 |
| 3 | CrossCountry Mortgage, Inc. | 5,827 | 6.2% | 4.1% | 6.750% | +0.29 | $7,640 |
| 4 | Rate | 3,638 | 3.9% | 4.0% | 6.625% | +0.11 | $6,210 |
| 5 | loanDepot.com, LLC | 2,760 | 2.9% | 5.2% | 6.625% | +0.06 | $6,170 |
| 6 | JPMorgan Chase Bank, N.A. | 2,643 | 2.8% | 9.5% | 6.375% | −0.16 | $5,570 |
| 7 | Pennymac Loan Services, LLC | 1,967 | 2.1% | 15.2% | 6.750% | +0.23 | $10,670 |
| 8 | American Neighborhood Mortgage Acceptance Company LLC | 1,749 | 1.9% | 3.9% | 6.875% | +0.39 | $7,160 |
| 9 | CMG Mortgage, Inc. | 1,706 | 1.8% | 5.8% | 6.625% | +0.24 | $8,280 |
| 10 | Advisors Mortgage Group, L.L.C. | 1,631 | 1.7% | 3.6% | 6.625% | +0.22 | $5,580 |
| 11 | Affordable Mortgage Advisors, LLC. | 1,410 | 1.5% | 2.4% | 6.750% | +0.28 | $4,980 |
| 12 | Freedom Mortgage Corporation | 1,407 | 1.5% | 26.8% | 6.875% | +0.17 | $7,350 |
| 13 | Wells Fargo Bank, N.A. | 1,399 | 1.5% | 14.1% | 6.375% | −0.20 | $6,850 |
| 14 | Absolute Home Mortgage Corporation | 1,397 | 1.5% | 4.1% | 6.750% | +0.36 | $6,560 |
| 15 | OceanFirst Bank, N.A. | 1,395 | 1.5% | 2.9% | 6.250% | −0.25 | $4,860 |
| 16 | Paramount Residential Mortgage Group, Inc. | 1,347 | 1.4% | 5.9% | 6.625% | +0.34 | $9,000 |
| 17 | Movement Mortgage, LLC | 1,264 | 1.4% | 6.2% | 6.625% | +0.22 | $7,280 |
| 18 | TD Bank, N.A. | 1,152 | 1.2% | 11.1% | 6.625% | +0.03 | $6,250 |
| 19 | Bank of America, N.A. | 1,111 | 1.2% | 11.5% | 6.125% | −0.34 | $6,360 |
| 20 | Newrez LLC | 1,103 | 1.2% | 15.8% | 6.875% | +0.35 | $7,580 |
| 21 | Nation One Mortgage Corporation | 990 | 1.1% | 4.2% | 6.625% | +0.38 | $13,790 |
| 22 | New American Funding | 985 | 1.1% | 5.5% | 6.875% | +0.44 | $6,870 |
| 23 | Guaranteed Rate Affinity, LLC | 973 | 1.0% | 2.0% | 6.625% | +0.08 | $6,310 |
| 24 | Luminate Bank | 966 | 1.0% | 4.0% | 6.500% | +0.00 | $5,900 |
| 25 | NFM, Inc. | 955 | 1.0% | 3.2% | 6.875% | +0.33 | $6,090 |
Largest lenders in New Jersey by 2025 originations. Loans = home-purchase, refinance and cash-out originations (2025); share = share of those loans here; denial rate = home-purchase applications. *Medians for conventional home-purchase loans, shown with at least 20 loans; spread = APR minus the average prime offer rate at rate lock (percentage points); costs = total loan costs (section D).
Metro areas in New Jersey
- New York-Jersey City-White Plains, NY-NJ · 42,138 purchases
- Lakewood-New Brunswick, NJ · 18,722 purchases
- Newark, NJ · 14,190 purchases
- Camden, NJ · 11,442 purchases
- Allentown-Bethlehem-Easton, PA-NJ · 7,180 purchases
- Wilmington, DE-MD-NJ · 6,598 purchases
- Atlantic City-Hammonton, NJ · 2,590 purchases
- Trenton-Princeton, NJ · 2,713 purchases
- Vineland, NJ · 980 purchases
Source: FFIEC/CFPB HMDA 2025 public LAR; FHFA and HUD 2026 loan limits. Methodology