The Mortgage Record
Lender report card · New Jersey

Bank Of England

England, AR · What the federal mortgage record shows about how Bank Of England treated New Jersey applicants, 2018–2025 — 757 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
92.2%
698 approved
Denial rate
7.8%
59 denied
Decisions
757
2018–2025
Avg. rate spread
+0.63 pp
vs. market benchmark
92.2% approved
7.8% denied

Share of 757 New Jersey applications Bank Of England approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional94.2% of 521 · NJ 87%FHA86.5% of 170 · NJ 79%VA93.5% of 46 · NJ 80%

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

Approval rate over time

68%76%84%92%100%85%92%98%98%71%91%92%75%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, Bank Of England’s rates ran +0.26 pp higher than the typical New Jersey lender (average rate spread +0.63 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 England approves

By income
Under $50k85.5% · 55$50–75k90.2% · 173$75–100k91.7% · 168$100–150k94.2% · 171$150–250k95.6% · 137$250k+93.5% · 46
By debt-to-income
Under 36%96.8% · 22236–43%95.7% · 18543–50%96.7% · 242Over 50%74.7% · 79
By down payment (LTV)
20%+ down98.2% · 32810–20% down92.9% · 855–10% down93.2% · 743–5% down92.2% · 128Under 3% down90.5% · 42

Why Bank Of England denied applications

Credit history29% of denialsIncomplete application27% of denialsDebt-to-income ratio25% of denialsOther19% of denialsCollateral (value/type)5% of denialsInsufficient cash to close2% of denials

Where Bank Of England lends in NJ

CountyDecisionsApproval
Burlington County8890.9%
Bergen County7594.7%
Middlesex County6093.3%
Monmouth County5490.7%
Ocean County4991.8%
Mercer County4891.7%
Camden County4793.6%
Essex County4390.7%

Fees & closing costs

Median total loan costs
$8,132
home purchase
As % of loan
3.23%
NJ median 1.93%
Priced originations
368
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Bank Of England’s home-purchase originations — 1.30 points higher than the 1.93% New Jersey median. Typical lender credit toward costs: $508. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

Compare Bank Of England 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 England (LEI 549300GY4NTTEM7WWB64). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →