AllMortgageDetail - Mortgage Application Details

New Jersey
Mortgage Loan Application
Totals and Details
in 2014

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Years 2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 282,487
Total Mortgage Loan Application Amount $77,456,531,000
Average Mortgage Loan Application Amount $274,000
Highest Mortgage Loan Application Amount $99,999,000
Average Applicant Income $113,000
Highest Applicant Income $9,999,000

Mortgage Loan Application Detail Totals for New Jersey in 2014

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 133,229 $40,552,978,000 $304,000 $99,999,000 $118,000 $9,999,000
Refinancing 127,859 $34,561,158,000 $270,000 $71,907,000 $110,000 $9,999,000
Home Improvement 21,399 $2,342,395,000 $109,000 $97,000,000 $103,000 $8,775,000

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 155,449 $40,753,702,000 $262,000 $10,000,000 $133,000 $9,999,000
Not applicable 35,610 $13,538,290,000 $380,000 $99,999,000 $22,000 $5,261,000
Not Provided 27,415 $7,310,462,000 $266,000 $8,000,000 $135,000 $9,999,000
Asian 23,332 $7,591,716,000 $325,000 $5,000,000 $147,000 $9,999,000
Hispanic 22,094 $4,675,577,000 $211,000 $3,600,000 $85,000 $6,739,000
Black or African American 17,237 $3,266,449,000 $189,000 $4,000,000 $81,000 $3,600,000
American Indian or Alaskan Native 716 $158,229,000 $220,000 $1,300,000 $96,000 $1,072,000
Native Hawaiin or Other Pacific Islander 634 $162,106,000 $255,000 $1,475,000 $108,000 $632,000

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) 217,948 $62,503,566,000 $286,000 $99,999,000 $130,000 $9,999,000
FHA-insured (Federal Housing Administration) 51,090 $11,663,332,000 $228,000 $52,883,000 $56,000 $1,268,000
VA-guaranteed (Veterans Administration) 10,621 $2,790,448,000 $262,000 $2,043,000 $71,000 $981,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 2,828 $499,185,000 $176,000 $2,200,000 $49,000 $3,450,000

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 133,758 $40,412,037,000 $302,000 $99,999,000 $135,000 $9,999,000
Application Denied By Financial Institution 51,732 $11,712,123,000 $226,000 $99,999,000 $103,000 $8,775,000
Loan Purchased By The Institution 45,629 $11,075,307,000 $242,000 $47,500,000 $43,000 $5,261,000
Application Withdrawn By Applicant 30,325 $8,526,604,000 $281,000 $60,000,000 $126,000 $9,999,000
File Closed For Incompleteness 12,703 $3,306,930,000 $260,000 $8,000,000 $130,000 $9,999,000
Application Approved But Not Accepted 8,338 $2,422,396,000 $290,000 $87,200,000 $132,000 $7,382,000
Preapproval Approved but not Accepted 2 $1,134,000 $567,000 $850,000 $212,000 $300,000
Preapproval Denied by Financial 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
Debt-To-Income Ratio 10,484 $2,435,195,000 $232,000 $5,450,000 $83,000 $3,385,000
Credit History 9,242 $1,221,559,000 $132,000 $3,500,000 $93,000 $8,775,000
Collateral 7,832 $1,943,203,000 $248,000 $9,000,000 $139,000 $4,315,000
Credit Application Incomplete 5,179 $1,388,602,000 $268,000 $8,875,000 $131,000 $3,542,000
Other 3,260 $821,449,000 $251,000 $55,000,000 $123,000 $4,900,000
Insufficient Cash (Downpayment, Closing Cost) 1,175 $316,417,000 $269,000 $3,000,000 $119,000 $2,034,000
Unverifiable Information 1,111 $297,768,000 $268,000 $2,172,000 $123,000 $2,214,000
Employment History 438 $94,711,000 $216,000 $1,000,000 $92,000 $1,262,000
Mortgage Insurance Denied 35 $7,583,000 $216,000 $600,000 $122,000 $841,000

Mortgage Loan Application Totals in 2014 by New Jersey Metropolitan Area

Metro Area Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
ATLANTIC CITY-HAMMONTON, NJ 9,831 $ 1,834,535,000 $ 186,000 $ 93,000
CAMDEN, NJ 46,302 $ 8,605,414,000 $ 185,000 $ 81,000
NEWARK, NJ-PA 72,738 $ 22,813,731,000 $ 313,000 $ 126,000
OCEAN CITY, NJ 7,116 $ 2,224,634,000 $ 312,000 $ 182,000
TRENTON, NJ 10,297 $ 2,590,702,000 $ 251,000 $ 107,000
VINELAND-BRIDGETON, NJ 3,763 $ 513,563,000 $ 136,000 $ 56,000

Mortgage Loan Application Totals in 2014 by New Jersey County

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
Atlantic 9,836 $ 1,835,437,000 $ 186,000 $ 93,000
Bergen 26,370 $ 9,838,147,000 $ 373,000 $ 148,000
Burlington 17,405 $ 3,548,261,000 $ 203,000 $ 85,000
Camden 16,912 $ 2,950,929,000 $ 174,000 $ 77,000
Cape May 7,118 $ 2,225,188,000 $ 312,000 $ 182,000
Cumberland 3,763 $ 513,563,000 $ 136,000 $ 56,000
Essex 18,825 $ 6,324,344,000 $ 335,000 $ 127,000
Gloucester 12,007 $ 2,110,943,000 $ 175,000 $ 79,000
Hudson 15,297 $ 5,550,481,000 $ 362,000 $ 125,000
Hunterdon 4,791 $ 1,405,846,000 $ 293,000 $ 129,000
Mercer 10,299 $ 2,591,101,000 $ 251,000 $ 107,000
Middlesex 24,589 $ 6,343,467,000 $ 257,000 $ 101,000
Monmouth 24,098 $ 7,597,867,000 $ 315,000 $ 134,000
Morris 17,117 $ 5,911,419,000 $ 345,000 $ 141,000
Ocean 23,823 $ 5,431,496,000 $ 227,000 $ 103,000
Passaic 11,940 $ 2,944,167,000 $ 246,000 $ 92,000
Salem 2,017 $ 294,650,000 $ 146,000 $ 68,000
Somerset 11,800 $ 3,812,040,000 $ 323,000 $ 134,000
Sussex 5,648 $ 1,148,484,000 $ 203,000 $ 93,000
Union 14,587 $ 4,218,757,000 $ 289,000 $ 110,000
Warren 3,904 $ 767,344,000 $ 196,000 $ 84,000