The Mortgage Record
Lender report card · New Jersey

Better Mortgage Corporation

New York, NY · What the federal mortgage record shows about how Better Mortgage Corporation treated New Jersey applicants, 2018–2025 — 12,739 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
86.3%
10,991 approved
Denial rate
13.7%
1,748 denied
Decisions
12,739
2018–2025
Avg. rate spread
-0.03 pp
vs. market benchmark
86.3% approved
13.7% denied

Share of 12,739 New Jersey applications Better Mortgage Corporation approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional86.6% of 12,626 · NJ 87%FHA47.2% of 108 · NJ 79%

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

Approval rate over time

68%74%80%86%92%74%81%84%89%87%91%78%72%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, Better Mortgage Corporation’s rates ran -0.26 pp lower than the typical New Jersey lender (average rate spread -0.03 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Better Mortgage Corporation approves

By income
Under $50k26.4% · 352$50–75k69.6% · 785$75–100k81.4% · 1,420$100–150k88.5% · 3,559$150–250k92.4% · 4,748$250k+88.8% · 1,873
By debt-to-income
Under 36%91.2% · 7,44136–43%91.0% · 2,61443–50%88.1% · 2,021Over 50%7.0% · 658
By down payment (LTV)
20%+ down88.2% · 9,67910–20% down84.3% · 1,5785–10% down80.2% · 8673–5% down68.8% · 221Under 3% down25.0% · 28

Why Better Mortgage Corporation denied applications

Debt-to-income ratio36% of denialsOther25% of denialsIncomplete application15% of denialsCollateral (value/type)9% of denialsCredit history8% of denialsEmployment history4% of denials

Where Better Mortgage Corporation lends in NJ

CountyDecisionsApproval
Bergen County1,75987.9%
Middlesex County1,50888.5%
Essex County1,05086.2%
Hudson County1,03484.7%
Morris County97090.9%
Monmouth County96485.9%
Somerset County82389.9%
Union County76285.0%

Fees & closing costs

Median total loan costs
$4,618
home purchase
As % of loan
1.12%
NJ median 1.93%
Priced originations
3,290
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Better Mortgage Corporation’s home-purchase originations — 0.81 points lower than the 1.93% New Jersey median. Typical lender credit toward costs: $1,579. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

Compare Better Mortgage Corporation 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 Better Mortgage Corporation (LEI 549300XY701IELCE5Q08). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →