The Mortgage Record
New Jersey · Home purchase mortgages

Mortgage approvals in Somerset County, NJ

Real approval and denial rates for home-purchase mortgages in Somerset County, built from 33,262 federally reported lender decisions, 2018–2025.

Approval rate
92.1%
30,642 approved
Denial rate
7.9%
2,620 denied
Lender decisions
33,262
2018–2025
Active lenders
15
≥25 decisions
92.1% approved
7.9% denied

Share of 33,262 home-purchase applications that lenders approved vs. denied · 2025: 93.7% approved. Excludes loans withdrawn, left incomplete, or bought on the secondary market.

Approval rate over time

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

By loan type

Conventional93.1% of 28,801FHA85.7% of 3,770VA86.5% of 682

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

Lenders in Somerset County

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

LenderApprovalDecisionsDeniedAvg. rate spread
Rocket Mortgage
Detroit, MI		89.1%1,950212+0.22 pp
Wells Fargo Bank Na
Minneapolis, MN		90.6%1,875177-0.14 pp
United Wholesale Mortgage
Pontiac, MI		90.5%1,456139+0.23 pp
Bank Of America Na
Westlake Village, CA		91.3%1,303113-0.20 pp
Jpmorgan Chase Bank, Na
Columbus, OH		93.0%1,07375-0.03 pp
Guaranteed Rate, Inc.
Chicago, IL		97.1%79623+0.18 pp
Nj Lenders Corp
Little Falls, NJ		97.2%78022+0.09 pp
Guaranteed Rate Affinity, Llc
Chicago, IL		97.5%76519+0.18 pp
Crosscountry Mortgage, Llc
Cleveland, OH		97.4%76520+0.40 pp
Embrace Home Loans, Inc.
Middletown, RI		96.2%74328+0.14 pp
Loandepot.com Llc
Irvine, CA		92.6%70152+0.28 pp
Pnc Bank N.a.
Pittsburgh, PA		87.4%58774-0.01 pp

Why applications were denied

Debt-to-income ratio37% of denialsCollateral (value/type)18% of denialsOther15% of denialsIncomplete application14% of denialsCredit history12% of denialsInsufficient cash to close10% of denials

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

See which lenders approve borrowers like you

Filter by your income, loan size and loan type to get a Somerset County lender shortlist.

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Refinance

Refi approval rate
84.8%
30,259 of 35,672
Refi denial rate
15.2%
5,413 denied
Refi decisions
35,672
2018–2025

Best lenders for specific buyers in Somerset County

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

Somerset County mortgage FAQ

What is the mortgage approval rate in Somerset County, NJ?

Lenders approved 92.1% of home-purchase mortgage applications in Somerset County, New Jersey between 2018 and 2025 — 30,642 approved out of 33,262 decisions. The denial rate was 7.9% (2,620 denied).

Why do mortgage applications get denied in Somerset County, NJ?

The reason lenders most often recorded for denying home-purchase applications in Somerset County was debt-to-income ratio, cited on 37% of the 2,620 denials between 2018 and 2025. HMDA does not include applicants' credit scores.

Which lenders make the most mortgages in Somerset County, NJ?

15 lenders made at least 25 home-purchase decisions in Somerset County between 2018 and 2025. The most active was Rocket Mortgage, which approved 89.1% of its 1,950 applications there.

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

In 2025, the most recent year of federal HMDA data, lenders approved 93.7% of home-purchase applications in Somerset County, New Jersey.

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