The Mortgage Record
Lender report card · New Jersey

First Federal Bank

Lake City, FL · What the federal mortgage record shows about how First Federal Bank treated New Jersey applicants, 2018–2025 — 767 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
88.3%
677 approved
Denial rate
11.7%
90 denied
Decisions
767
2018–2025
Avg. rate spread
+0.12 pp
vs. market benchmark
88.3% approved
11.7% denied

Share of 767 New Jersey applications First Federal Bank 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 Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.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 553 · NJ 87%FHA75.3% of 81 · NJ 79%VA92.5% of 133 · NJ 80%

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

Approval rate over time

79%84%89%94%99%100%83%90%94%86%83%86%88%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, First Federal Bank’s rates ran -0.11 pp lower than the typical New Jersey lender (average rate spread +0.12 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who First Federal Bank approves

By income
$50–75k84.8% · 66$75–100k83.8% · 99$100–150k89.7% · 204$150–250k89.7% · 232$250k+86.3% · 117
By debt-to-income
Under 36%90.4% · 28136–43%94.7% · 18743–50%92.2% · 180Over 50%60.2% · 88
By down payment (LTV)
20%+ down88.3% · 47810–20% down92.2% · 1415–10% down83.1% · 593–5% down91.7% · 36Under 3% down79.5% · 44

Why First Federal Bank denied applications

Incomplete application30% of denialsDebt-to-income ratio28% of denialsCredit history19% of denialsCollateral (value/type)18% of denialsOther10% of denialsUnverifiable information7% of denials

Where First Federal Bank lends in NJ

CountyDecisionsApproval
Monmouth County8790.8%
Bergen County8486.9%
Ocean County8389.2%
Morris County7087.1%
Middlesex County6190.2%
Union County4991.8%
Passaic County4090.0%
Somerset County3989.7%

Fees & closing costs

Median total loan costs
$7,709
home purchase
As % of loan
1.74%
NJ median 1.93%
Priced originations
314
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on First Federal Bank’s home-purchase originations — 0.20 points lower than the 1.93% New Jersey median. Typical lender credit toward costs: $687. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

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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 First Federal Bank (LEI Q708HHR4LD2B7XIZNO92). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →