The Mortgage Record
Lender report card · New Jersey

Gennext Funding, Llc

Somerset, NJ · What the federal mortgage record shows about how Gennext Funding, Llc treated New Jersey applicants, 2018–2025 — 710 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
96.1%
682 approved
Denial rate
3.9%
28 denied
Decisions
710
2018–2025
Avg. rate spread
+0.68 pp
vs. market benchmark
96.1% approved
3.9% denied

Share of 710 New Jersey applications Gennext Funding, Llc approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional97.2% of 567 · NJ 87%FHA91.5% of 141 · NJ 79%

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

Approval rate over time

86%89%92%95%98%100%99%97%89%2018202020212022

Pricing

Adjusting for its loan-type mix, Gennext Funding, Llc’s rates ran +0.32 pp higher than the typical New Jersey lender (average rate spread +0.68 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Gennext Funding, Llc approves

By income
Under $50k92.5% · 40$50–75k96.0% · 199$75–100k95.1% · 164$100–150k97.5% · 202$150–250k96.7% · 90
By debt-to-income
Under 36%96.2% · 21336–43%98.4% · 19043–50%97.1% · 238Over 50%83.9% · 62
By down payment (LTV)
20%+ down97.9% · 33310–20% down90.9% · 775–10% down96.2% · 1303–5% down94.6% · 130

Why Gennext Funding, Llc denied applications

Debt-to-income ratio32% of denialsCollateral (value/type)29% of denialsCredit history25% of denialsInsufficient cash to close18% of denialsOther18% of denialsUnverifiable information4% of denials

Where Gennext Funding, Llc lends in NJ

CountyDecisionsApproval
Middlesex County21198.1%
Somerset County11796.6%
Union County9694.8%
Monmouth County4597.8%
Passaic County3994.9%
Essex County3794.6%
Mercer County3096.7%

Fees & closing costs

Median total loan costs
$9,703
home purchase
As % of loan
3.02%
NJ median 1.93%
Priced originations
386
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Gennext Funding, Llc’s home-purchase originations — 1.09 points higher than the 1.93% New Jersey median. Typical lender credit toward costs: $700. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

Compare Gennext Funding, Llc to other lenders for your profile

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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 Gennext Funding, Llc (LEI 549300BM425MCJXSCE36). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →