The Mortgage Record
Lender report card · New Jersey

Bank Of America Na

Westlake Village, CA · What the federal mortgage record shows about how Bank Of America Na treated New Jersey applicants, 2018–2025 — 35,767 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
88.7%
31,728 approved
Denial rate
11.3%
4,039 denied
Decisions
35,767
2018–2025
Avg. rate spread
-0.13 pp
vs. market benchmark
88.7% approved
11.3% denied

Share of 35,767 New Jersey applications Bank Of America Na approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional89.8% of 34,502 · NJ 87%FHA59.4% of 1,218 · NJ 79%VA70.2% of 47 · NJ 80%

“NJ” = the statewide average approval rate for that loan type, for comparison.

Approval rate over time

82%85%88%91%94%85%89%89%91%89%88%88%89%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, Bank Of America Na’s rates ran -0.37 pp lower than the typical New Jersey lender (average rate spread -0.13 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Bank Of America Na approves

By income
Under $50k64.9% · 1,824$50–75k81.0% · 3,703$75–100k84.7% · 3,977$100–150k89.0% · 6,731$150–250k91.9% · 8,427$250k+94.1% · 9,997
By debt-to-income
Under 36%94.3% · 19,62936–43%92.9% · 9,63643–50%83.8% · 4,705Over 50%16.8% · 1,670
By down payment (LTV)
20%+ down92.2% · 23,62110–20% down85.6% · 2,5965–10% down81.3% · 1,8433–5% down71.1% · 1,429Under 3% down74.9% · 788

Why Bank Of America Na denied applications

Debt-to-income ratio43% of denialsCollateral (value/type)24% of denialsOther17% of denialsInsufficient cash to close17% of denialsCredit history12% of denialsUnverifiable information11% of denials

Where Bank Of America Na lends in NJ

CountyDecisionsApproval
Bergen County4,48990.0%
Monmouth County3,67690.7%
Essex County3,21388.2%
Middlesex County3,09886.9%
Hudson County2,78586.0%
Morris County2,74592.5%
Ocean County2,65090.0%
Union County2,47488.9%

Fees & closing costs

Median total loan costs
$5,736
home purchase
As % of loan
1.25%
NJ median 1.93%
Priced originations
15,872
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Bank Of America Na’s home-purchase originations — 0.68 points lower than the 1.93% New Jersey median. Typical lender credit toward costs: $1,126. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

Consumer complaints

CFPB complaints
341
from NJ, 2022–present
Answered on time
100%
of complaints
Closed with relief
16%
monetary or non-monetary

Complaints New Jersey mortgage customers filed against Bank Of America Na with the federal Consumer Financial Protection Bureau, 2022–present. Most common issue: Trouble during payment process. Most mortgage complaints concern servicing — payments, escrow, and foreclosure — so this reflects a company’s customer experience as much as its lending, and volume partly tracks how many loans it services. Source: CFPB Consumer Complaint Database.

Compare Bank Of America Na to other lenders for your profile

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Source: CFPB HMDA loan-level data, 2018–2025 · first-lien, closed-end mortgages on 1–4 family homes in New Jersey reported by Bank Of America Na (LEI B4TYDEB6GKMZO031MB27). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →