The Mortgage Record
Lender report card · New Jersey

Bayfirst Financial

Saint Petersburg, FL · What the federal mortgage record shows about how Bayfirst Financial treated New Jersey applicants, 2018–2025 — 2,322 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
87.2%
2,025 approved
Denial rate
12.8%
297 denied
Decisions
2,322
2018–2025
Avg. rate spread
+0.52 pp
vs. market benchmark
87.2% approved
12.8% denied

Share of 2,322 New Jersey applications Bayfirst Financial approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional89.2% of 1,709 · NJ 87%FHA79.2% of 461 · NJ 79%VA89.5% of 152 · NJ 80%

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

Approval rate over time

0%23%46%69%92%91%88%87%86%82%0%201820192020202120222023

Pricing

Adjusting for its loan-type mix, Bayfirst Financial’s rates ran +0.19 pp higher than the typical New Jersey lender (average rate spread +0.52 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Bayfirst Financial approves

By income
Under $50k73.0% · 222$50–75k83.5% · 406$75–100k87.8% · 510$100–150k89.6% · 644$150–250k92.6% · 403$250k+91.8% · 134
By debt-to-income
Under 36%93.9% · 66136–43%91.8% · 51043–50%90.2% · 725Over 50%62.0% · 355
By down payment (LTV)
20%+ down87.7% · 1,14210–20% down87.8% · 2215–10% down87.8% · 2303–5% down79.6% · 211Under 3% down81.7% · 82

Why Bayfirst Financial denied applications

Debt-to-income ratio42% of denialsCredit history21% of denialsCollateral (value/type)16% of denialsOther16% of denialsEmployment history6% of denialsUnverifiable information6% of denials

Where Bayfirst Financial lends in NJ

CountyDecisionsApproval
Monmouth County52692.0%
Ocean County28083.9%
Middlesex County24887.9%
Passaic County21789.9%
Bergen County15088.0%
Morris County14082.1%
Burlington County10690.6%
Essex County9988.9%

Fees & closing costs

Median total loan costs
$6,444
home purchase
As % of loan
2.49%
NJ median 1.93%
Priced originations
1,115
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Bayfirst Financial’s home-purchase originations — 0.56 points higher than the 1.93% New Jersey median. Typical lender credit toward costs: $360. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

Compare Bayfirst Financial to other lenders for your profile

Enter your income, county, DTI and down payment to see who approves borrowers like you.

Open the approval tool →

Source: CFPB HMDA loan-level data, 2018–2025 · first-lien, closed-end mortgages on 1–4 family homes in New Jersey reported by Bayfirst Financial (LEI 549300DMI3W6YLDVSK93). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →