The Mortgage Record
New Jersey · Home purchase mortgages

Mortgage approvals in Cape May County, NJ

Real approval and denial rates for home-purchase mortgages in Cape May County, built from 22,502 federally reported lender decisions, 2018–2025.

Approval rate
92.3%
20,779 approved
Denial rate
7.7%
1,723 denied
Lender decisions
22,502
2018–2025
Active lenders
15
≥25 decisions
92.3% approved
7.7% denied

Share of 22,502 home-purchase applications that lenders approved vs. denied · 2025: 90.6% approved. Excludes loans withdrawn, left incomplete, or bought on the secondary market.

Approval rate over time

86%88%90%92%94%96%93%93%93%94%92%90%91%91%20182019202020212022202320242025

By loan type

Conventional92.8% of 20,481FHA85.4% of 1,301VA93.1% of 538USDA91.8% of 182

FHA and USDA loans serve lower-down-payment and rural buyers; approval patterns differ by program.

Lenders in Cape May County

Ranked by volume. Approval rate = originated or approved ÷ (those + denied), home purchases 2018–2025.

LenderApprovalDecisionsDeniedAvg. rate spread
Wells Fargo Bank Na
Minneapolis, MN		90.9%1,435130-0.14 pp
Caliber Home Loans, Inc.
Fort Washington, PA		96.2%1,30150+0.46 pp
Citizens Bank, Na
Providence, RI		92.0%1,16893+0.02 pp
Oceanfirst Bank
Toms River, NJ		97.5%1,07727+0.09 pp
Republic First Bank
Philadelphia, PA		96.0%1,01741-0.14 pp
Prosperity Home Mortgage, Llc
Chantilly, VA		95.8%79333+0.23 pp
Rocket Mortgage
Detroit, MI		85.4%67899+0.48 pp
Guaranteed Rate, Inc.
Chicago, IL		96.7%57319+0.17 pp
Valley National Bank
Morristown, NJ		98.9%5376+0.05 pp
Advisors Mortgage Group, Llc
Ocean, NJ		97.2%50814+0.29 pp
Crosscountry Mortgage, Llc
Cleveland, OH		96.8%49316+0.46 pp
Draper And Kramer Mortgage Corp.
Downers Grove, IL		97.7%3969+0.30 pp

Why applications were denied

Debt-to-income ratio36% of denialsCollateral (value/type)27% of denialsOther16% of denialsCredit history15% of denialsInsufficient cash to close11% of denialsIncomplete application11% of denials

Primary reason lenders recorded on denied applications. One denial can cite several.

See which lenders approve borrowers like you

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Refinance

Refi approval rate
82.1%
15,887 of 19,349
Refi denial rate
17.9%
3,462 denied
Refi decisions
19,349
2018–2025

Best lenders for specific buyers in Cape May County

Best FHA lendersBest VA lendersBest jumbo lendersBest high-DTI lendersBest low-down-payment lendersBest lower-income lendersBest investment-property lendersBest manufactured-home lenders

Cape May County mortgage FAQ

What is the mortgage approval rate in Cape May County, NJ?

Lenders approved 92.3% of home-purchase mortgage applications in Cape May County, New Jersey between 2018 and 2025 — 20,779 approved out of 22,502 decisions. The denial rate was 7.7% (1,723 denied).

Why do mortgage applications get denied in Cape May County, NJ?

The reason lenders most often recorded for denying home-purchase applications in Cape May County was debt-to-income ratio, cited on 36% of the 1,723 denials between 2018 and 2025. HMDA does not include applicants' credit scores.

Which lenders make the most mortgages in Cape May County, NJ?

15 lenders made at least 25 home-purchase decisions in Cape May County between 2018 and 2025. The most active was Wells Fargo Bank Na, which approved 90.9% of its 1,435 applications there.

What is the most recent mortgage approval rate in Cape May County, NJ?

In 2025, the most recent year of federal HMDA data, lenders approved 90.6% of home-purchase applications in Cape May County, New Jersey.

Source: CFPB HMDA loan-level snapshot data, 2018–2025 · first-lien, closed-end mortgages on 1–4 family homes in Cape May County, NJ. Full methodology →