Oceanfirst Bank Mortgage Lending & HMDA Data, 2024
In 2024, Oceanfirst Bank of Toms River, NJ reported 2,853 mortgage applications totaling $942.1 million, up 32% from 2023. The average application was for $330,212, and applicants reported an average income of $184,847. 66% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Lakewood-New Brunswick, NJ (1,185), Atlantic City-Hammonton, NJ (551) and Camden, NJ (301) (applications in parentheses).
| Mortgage Company & Address | Oceanfirst Bank 975 Hooper Avenue Toms River, NJ 08753 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 2,853 |
| Total Mortgage Loan Application Amount | $942,095,000 |
| Average Mortgage Loan Application Amount | $330,212 |
| Highest Mortgage Loan Application Amount | $44,905,000 |
| Average Applicant Income | $184,847 |
| Highest Applicant Income | $9,000,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Oceanfirst Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Lakewood-New Brunswick, NJ | 1,185 | $ 337,995,000 | $ 285,227 | $ 185,000 |
| Atlantic City-Hammonton, NJ | 551 | $ 151,995,000 | $ 275,852 | $ 207,000 |
| Camden, NJ | 301 | $ 81,905,000 | $ 272,109 | $ 169,000 |
| Philadelphia, PA | 110 | $ 40,580,000 | $ 368,909 | $ 137,000 |
| Vineland-Bridgeton, NJ | 102 | $ 11,460,000 | $ 112,352 | $ 92,000 |
| Newark, NJ-PA | 89 | $ 85,295,000 | $ 958,370 | $ 201,000 |
| Outside any metro area | 82 | $ 27,200,000 | $ 331,707 | $ 161,682 |
| Montgomery County-Bucks County-Chester County, PA | 65 | $ 25,495,000 | $ 392,230 | $ 231,000 |
| New York-Jersey City-White Plains, NY-NJ | 61 | $ 40,515,000 | $ 664,180 | $ 208,180 |
| Trenton, NJ | 50 | $ 17,860,000 | $ 357,200 | $ 214,000 |
| Arlington-Alexandria-Reston, VA-WV | 34 | $ 22,890,000 | $ 673,235 | $ 223,000 |
| Orlando-Kissimmee-Sanford, FL | 23 | $ 8,425,000 | $ 366,304 | $ 135,000 |
| Wilmington, DE-MD-NJ | 23 | $ 7,145,000 | $ 310,652 | $ 164,695 |
| Washington-Baltimore-Arlington, DC | 16 | $ 7,130,000 | $ 445,625 | $ 186,000 |
| Washington, DC-MD | 12 | $ 6,350,000 | $ 529,166 | $ 225,500 |
| Allentown-Bethlehem-Easton, PA-NJ | 11 | $ 4,055,000 | $ 368,636 | $ 159,818 |
| Baltimore-Columbia-Towson, MD | 11 | $ 4,795,000 | $ 435,909 | $ 183,000 |
| Nassau County-Suffolk County, NY | 10 | $ 4,810,000 | $ 481,000 | $ 302,000 |
| Lancaster, PA | 8 | $ 1,850,000 | $ 231,250 | $ 107,000 |
| Pittsburgh, PA | 8 | $ 1,860,000 | $ 232,500 | $ 172,000 |
| Grand Rapids-Wyoming, MI | 5 | $ 1,785,000 | $ 357,000 | $ 211,000 |
| North Port-Sarasota-Bradenton, FL | 5 | $ 1,435,000 | $ 287,000 | $ 246,000 |
| Cape Coral-Fort Myers, FL | 4 | $ 1,100,000 | $ 275,000 | $ 83,000 |
| Palm Bay-Melbourne-Titusville, FL | 4 | $ 1,480,000 | $ 370,000 | $ 169,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 4 | $ 1,600,000 | $ 400,000 | $ 225,000 |
| Boston, MA | 3 | $ 1,335,000 | $ 445,000 | $ 385,000 |
| Hartford-West Hartford-East Hartford, CT | 3 | $ 1,385,000 | $ 461,666 | $ 227,000 |
| Miami-Miami Beach-Kendall, FL | 3 | $ 9,855,000 | $ 3,285,000 | $ 98,000 |
| New Haven-Milford, CT | 3 | $ 1,485,000 | $ 495,000 | $ 139,000 |
| Warren-Troy-Farmington Hills, MI | 3 | $ 555,000 | $ 185,000 | $ 171,000 |
| Waterbury-Shelton, CT | 3 | $ 1,015,000 | $ 338,333 | $ 189,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 3 | $ 2,465,000 | $ 821,666 | $ 242,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 2 | $ 530,000 | $ 265,000 | $ 65,000 |
| Detroit-Dearborn-Livonia, MI | 2 | $ 240,000 | $ 120,000 | $ 193,000 |
| Harrisburg-Carlisle, PA | 2 | $ 520,000 | $ 260,000 | $ 106,000 |
| Jackson, MS | 2 | $ 570,000 | $ 285,000 | $ 176,000 |
| Lynchburg, VA | 2 | $ 430,000 | $ 215,000 | $ 323,000 |
| Manchester-Nashua, NH | 2 | $ 690,000 | $ 345,000 | $ 85,000 |
| Naples-Immokalee-Marco Island, FL | 2 | $ 510,000 | $ 255,000 | $ 237,000 |
| Portland-South Portland, ME | 2 | $ 970,000 | $ 485,000 | $ 532,000 |
| Reading, PA | 2 | $ 650,000 | $ 325,000 | $ 72,000 |
| Richmond, VA | 2 | $ 720,000 | $ 360,000 | $ 113,000 |
| Saginaw, MI | 2 | $ 470,000 | $ 235,000 | $ 148,000 |
| Wilmington, NC | 2 | $ 1,150,000 | $ 575,000 | $ 283,000 |
| Worcester, MA-CT | 2 | $ 6,750,000 | $ 3,375,000 | $ 49,000 |
| Ann Arbor, MI | 1 | $ 235,000 | $ 235,000 | $ 86,000 |
| Athens-Clarke County, GA | 1 | $ 655,000 | $ 655,000 | $ 200,000 |
| Bridgeport-Stamford-Norwalk, CT | 1 | $ 405,000 | $ 405,000 | $ 130,000 |
| Burlington-South Burlington, VT | 1 | $ 475,000 | $ 475,000 | $ 329,000 |
| Cambridge-Newton-Framingham, MA | 1 | $ 305,000 | $ 305,000 | $ 162,000 |
| Charlottesville, VA | 1 | $ 355,000 | $ 355,000 | $ 486,000 |
| Cincinnati, OH-KY-IN | 1 | $ 435,000 | $ 435,000 | $ 202,000 |
| Colorado Springs, CO | 1 | $ 445,000 | $ 445,000 | $ 116,000 |
| Columbia, SC | 1 | $ 295,000 | $ 295,000 | $ 529,000 |
| Corvallis, OR | 1 | $ 315,000 | $ 315,000 | $ 250,000 |
| Crestview-Fort Walton Beach-Destin, FL | 1 | $ 305,000 | $ 305,000 | $ 70,000 |
| Denver-Aurora-Lakewood, CO | 1 | $ 765,000 | $ 765,000 | $ 162,000 |
| Dover, DE | 1 | $ 475,000 | $ 475,000 | $ 170,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 1 | $ 25,000 | $ 25,000 | $ 51,000 |
| Gulfport-Biloxi-Pascagoula, MS | 1 | $ 295,000 | $ 295,000 | $ 69,000 |
| Houston-The Woodlands-Sugar Land, TX | 1 | $ 515,000 | $ 515,000 | $ 251,000 |
| Jacksonville, FL | 1 | $ 445,000 | $ 445,000 | $ 197,000 |
| Kiryas Joel-Poughkeepsie-Newburgh, NY | 1 | $ 555,000 | $ 555,000 | $ 167,000 |
| Lansing-East Lansing, MI | 1 | $ 135,000 | $ 135,000 | $ 97,000 |
| Lexington Park, MD | 1 | $ 865,000 | $ 865,000 | $ 141,000 |
| Louisville/Jefferson County, KY-IN | 1 | $ 315,000 | $ 315,000 | $ 315,000 |
| Norwich-New London, CT | 1 | $ 765,000 | $ 765,000 | $ 290,000 |
| Pensacola-Ferry Pass-Brent, FL | 1 | $ 325,000 | $ 325,000 | $ 0 |
| Providence-Warwick, RI-MA | 1 | $ 695,000 | $ 695,000 | $ 158,000 |
| Scranton--Wilkes-Barre--Hazleton, PA | 1 | $ 125,000 | $ 125,000 | $ 148,000 |
| Traverse City, MI | 1 | $ 325,000 | $ 325,000 | $ 131,000 |
| Tuscaloosa, AL | 1 | $ 385,000 | $ 385,000 | $ 1,686,000 |
| Utica-Rome, NY | 1 | $ 15,000 | $ 15,000 | $ 37,000 |
| Weirton-Steubenville, WV-OH | 1 | $ 285,000 | $ 285,000 | $ 130,000 |
| Wildwood-The Villages, FL | 1 | $ 765,000 | $ 765,000 | $ 300,000 |
| Winchester, VA-WV | 1 | $ 315,000 | $ 315,000 | $ 195,000 |
| York-Hanover, PA | 1 | $ 175,000 | $ 175,000 | $ 229,000 |
Mortgage Loan Application Detail Totals for Oceanfirst Bank in 2024
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 1,520 | $662,740,000 | $436,000 | $8,925,000 | $196,000 | $4,156,000 |
| Other Purpose | 507 | $59,935,000 | $118,000 | $1,205,000 | $157,000 | $1,596,000 |
| Home Improvement | 482 | $101,230,000 | $210,000 | $44,905,000 | $189,000 | $9,000,000 |
| Refinancing | 270 | $89,570,000 | $331,000 | $7,505,000 | $168,000 | $1,183,000 |
| Cash-out Refinancing | 74 | $28,620,000 | $386,000 | $1,705,000 | $181,000 | $973,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 2,032 | $599,070,000 | $294,000 | $8,925,000 | $189,000 | $4,492,000 |
| Not Provided | 276 | $92,890,000 | $336,000 | $1,205,000 | $191,000 | $1,018,000 |
| Hispanic | 223 | $60,355,000 | $270,000 | $1,485,000 | $129,000 | $1,008,000 |
| Asian | 172 | $83,270,000 | $484,000 | $1,755,000 | $216,000 | $1,227,000 |
| Black or African American | 132 | $34,700,000 | $262,000 | $955,000 | $180,000 | $9,000,000 |
| Not applicable | 11 | $69,895,000 | $6,354,000 | $44,905,000 | $0 | $0 |
| American Indian or Alaskan Native | 7 | $1,915,000 | $273,000 | $1,255,000 | $85,000 | $185,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 2,743 | $894,625,000 | $326,000 | $44,905,000 | $187,000 | $9,000,000 |
| FHA-insured (Federal Housing Administration) | 73 | $27,465,000 | $376,000 | $695,000 | $127,000 | $529,000 |
| VA-guaranteed (Veterans Administration) | 37 | $20,005,000 | $540,000 | $1,505,000 | $152,000 | $465,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 1,872 | $714,250,000 | $381,000 | $44,905,000 | $190,000 | $1,885,000 |
| Application Denied By Financial Institution | 451 | $77,015,000 | $170,000 | $4,115,000 | $140,000 | $4,492,000 |
| Application Withdrawn By Applicant | 246 | $59,020,000 | $239,000 | $3,575,000 | $198,000 | $4,067,000 |
| Application Approved But Not Accepted | 181 | $67,875,000 | $375,000 | $3,005,000 | $215,000 | $4,156,000 |
| Preapproval Approved but not Accepted | 48 | $15,330,000 | $319,000 | $1,605,000 | $113,000 | $618,000 |
| File Closed For Incompleteness | 47 | $5,385,000 | $114,000 | $505,000 | $308,000 | $9,000,000 |
| Preapproval Denied by Financial Institution | 8 | $3,220,000 | $402,000 | $765,000 | $113,000 | $195,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 2,394 | $861,860,000 | $360,000 | $44,905,000 | $194,000 | $9,000,000 |
| Debt-To-Income Ratio | 218 | $42,570,000 | $195,000 | $1,505,000 | $97,000 | $462,000 |
| Credit History | 104 | $8,350,000 | $80,000 | $505,000 | $100,000 | $600,000 |
| Collateral | 91 | $19,745,000 | $216,000 | $4,115,000 | $224,000 | $1,596,000 |
| Credit Application Incomplete | 20 | $2,910,000 | $145,000 | $505,000 | $147,000 | $398,000 |
| Other | 18 | $3,510,000 | $195,000 | $1,205,000 | $150,000 | $500,000 |
| Unverifiable Information | 6 | $2,290,000 | $381,000 | $665,000 | $997,000 | $4,492,000 |
| Employment History | 1 | $245,000 | $245,000 | $245,000 | $144,000 | $144,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $615,000 | $615,000 | $615,000 | $144,000 | $144,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Oceanfirst Bank's 2024 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Oceanfirst Bank's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
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