New Jersey
Mortgage Loan Application
Totals and Details
in 2018

Find mortgage statistics and mortgage data for New Jersey.
Our lists allow you to explore the total number of mortgage applications and mortgage application details for 2003-2018 in all of New Jersey.
You can organize this information by metropolitan area and by county.

Years 2018  2017  2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 390,000
Total Mortgage Loan Application Amount $106,910,195,000
Average Mortgage Loan Application Amount $274,000
Highest Mortgage Loan Application Amount $97,005,000
Average Applicant Income $140,000
Highest Applicant Income $9,999,000

Mortgage stats and application averages for each year are shown below, as well as highest application amount and the income of the highest applicant.
If you are looking for a mortgage or loan application data statistics in New Jersey, these numbers will give you an idea of what to expect as you begin to look for a lender.

These lists can also be organized by various details about Mortgage Loan Applications for each year, with categories such as loan purpose, race of mortgage applicant, loan type, the outcome of the application, and reason for denial.

Each category breaks down the total number of mortgage applications, the total dollar amount for those applications, the average mortgage amount, and the highest mortgage within that category. You can also look at information regarding the average income of the mortgage applicants and the highest income of the mortgage applicants. If you're looking for a certain type of mortgage, these numbers will give you a better gauge of what to expect in various situations.

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Mortgage Loan Application Detail Totals for New Jersey in 2018

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 186,007 $61,056,950,000 $328,000 $97,005,000 $140,000 $9,000,000
Refinancing 63,022 $18,591,600,000 $295,000 $92,005,000 $141,000 $9,700,000
Cash-out Refinancing 60,503 $16,694,435,000 $275,000 $89,905,000 $129,000 $9,000,000
Home Improvement 39,502 $4,777,560,000 $120,000 $39,285,000 $147,000 $7,200,000
Other Purpose 33,540 $4,280,190,000 $127,000 $19,405,000 $149,000 $9,999,000
Not Applicable 7,426 $1,509,460,000 $203,000 $12,155,000 $102,000 $1,696,000

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 209,243 $52,346,375,000 $250,000 $10,005,000 $146,000 $9,999,000
Not Provided 45,479 $12,656,055,000 $278,000 $41,625,000 $155,000 $9,700,000
Not applicable 41,356 $17,909,975,000 $433,000 $97,005,000 $117,000 $9,000,000
Hispanic 34,438 $7,898,270,000 $229,000 $4,755,000 $98,000 $5,096,000
Asian 28,332 $9,089,280,000 $320,000 $4,255,000 $158,000 $8,000,000
Black or African American 24,076 $5,051,940,000 $209,000 $28,005,000 $98,000 $8,880,000
American Indian or Alaskan Native 1,147 $231,955,000 $202,000 $3,205,000 $117,000 $2,317,000
Native Hawaiian or Other Pacific Islander 413 $96,565,000 $233,000 $1,755,000 $122,000 $1,111,000

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) 307,545 $85,820,270,000 $279,000 $97,005,000 $152,000 $9,999,000
FHA-insured (Federal Housing Administration) 67,149 $16,907,275,000 $251,000 $39,285,000 $84,000 $4,044,000
VA-guaranteed (Veterans Administration) 13,734 $3,908,690,000 $284,000 $41,625,000 $91,000 $1,202,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 1,572 $273,960,000 $174,000 $665,000 $65,000 $600,000

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 187,522 $56,951,160,000 $303,000 $97,005,000 $150,000 $9,999,000
Application Denied By Financial Institution 75,576 $14,616,260,000 $193,000 $70,005,000 $120,000 $9,960,000
Loan Purchased By The Institution 53,258 $14,360,780,000 $269,000 $12,155,000 $122,000 $9,000,000
Application Withdrawn By Applicant 49,862 $14,555,935,000 $291,000 $66,005,000 $138,000 $9,400,000
File Closed For Incompleteness 15,721 $4,017,495,000 $255,000 $28,005,000 $148,000 $7,361,000
Application Approved But Not Accepted 7,851 $2,347,155,000 $298,000 $18,005,000 $152,000 $9,700,000
Preapproval Approved but not Accepted 124 $35,680,000 $287,000 $2,005,000 $105,000 $924,000
Preapproval Denied by Financial Institution 86 $25,730,000 $299,000 $1,805,000 $98,000 $812,000

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 307,392 $89,774,325,000 $292,000 $97,005,000 $145,000 $9,999,000
Debt-To-Income Ratio 32,336 $7,699,170,000 $238,000 $30,505,000 $100,000 $7,200,000
Credit History 18,976 $2,614,700,000 $137,000 $10,005,000 $127,000 $8,880,000
Collateral 14,685 $2,715,095,000 $184,000 $15,605,000 $154,000 $8,973,000
Credit Application Incomplete 6,491 $1,627,135,000 $250,000 $9,995,000 $139,000 $5,816,000
Other 5,418 $1,341,060,000 $247,000 $70,005,000 $136,000 $9,960,000
Unverifiable Information 2,644 $581,080,000 $219,000 $16,535,000 $150,000 $7,000,000
Insufficient Cash (Downpayment, Closing Cost) 1,273 $381,685,000 $299,000 $2,935,000 $141,000 $3,212,000
Employment History 745 $168,015,000 $225,000 $1,105,000 $91,000 $3,000,000
Mortgage Insurance Denied 40 $7,930,000 $198,000 $455,000 $100,000 $268,000
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Mortgage Loan Application Totals in 2018 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 12,627 $ 2,338,265,000 $ 185,000 $ 121,000
CAMDEN, NJ 60,006 $ 10,800,450,000 $ 179,000 $ 105,000
NEWARK, NJ-PA 103,207 $ 31,169,565,000 $ 302,000 $ 150,000
OCEAN CITY, NJ 9,583 $ 3,047,285,000 $ 317,000 $ 214,000
TRENTON, NJ 13,008 $ 3,115,650,000 $ 239,000 $ 135,000
VINELAND-BRIDGETON, NJ 4,495 $ 594,055,000 $ 132,000 $ 74,000
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Mortgage Loan Application Totals in 2018 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 12,627 $ 2,338,265,000 $ 185,000 $ 121,000
Bergen 38,279 $ 13,453,410,000 $ 351,000 $ 170,000
Burlington 22,685 $ 4,484,415,000 $ 197,000 $ 112,000
Camden 22,367 $ 3,929,115,000 $ 175,000 $ 102,000
Cape May 9,586 $ 3,047,800,000 $ 317,000 $ 214,000
Cumberland 4,496 $ 609,660,000 $ 135,000 $ 74,000
Essex 27,780 $ 9,194,710,000 $ 330,000 $ 153,000
Gloucester 14,961 $ 2,550,265,000 $ 170,000 $ 102,000
Hudson 20,441 $ 8,394,920,000 $ 410,000 $ 156,000
Hunterdon 6,414 $ 1,747,770,000 $ 272,000 $ 148,000
Mercer 13,009 $ 3,115,745,000 $ 239,000 $ 135,000
Middlesex 32,572 $ 8,450,665,000 $ 259,000 $ 123,000
Monmouth 34,601 $ 10,830,325,000 $ 313,000 $ 168,000
Morris 23,753 $ 7,415,315,000 $ 312,000 $ 164,000
Ocean 36,299 $ 8,559,845,000 $ 235,000 $ 130,000
Passaic 17,290 $ 4,420,700,000 $ 255,000 $ 114,000
Salem 2,566 $ 418,660,000 $ 163,000 $ 86,000
Somerset 14,948 $ 4,586,000,000 $ 306,000 $ 160,000
Sussex 8,683 $ 1,739,065,000 $ 200,000 $ 110,000
Union 21,660 $ 6,690,660,000 $ 308,000 $ 141,000
Warren 4,983 $ 932,885,000 $ 187,000 $ 104,000

We hope these mortgage application details and statistics will give you a better idea of what to expect when applying for a mortgage.
Whether you are looking for a home loan, for home financing or refinancing, or for home improvement loan statistics, we have the information you need.
These mortgage application stats give you everything you need to know as you start your search for the best mortgage lender in New Jersey.

If you prefer, you can download a copy of the entire list of mortgage lenders in New Jersey and search similar information back through 2003.

Download the New Jersey Lender List