The Mortgage Record
Lender report card · New Jersey

Lakeland Bank

Oak Ridge, NJ · What the federal mortgage record shows about how Lakeland Bank treated New Jersey applicants, 2018–2025 — 4,497 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
87.5%
3,936 approved
Denial rate
12.5%
561 denied
Decisions
4,497
2018–2025
Avg. rate spread
-0.25 pp
vs. market benchmark
87.5% approved
12.5% denied

Share of 4,497 New Jersey applications Lakeland Bank approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional87.8% of 4,386 · NJ 87%FHA76.4% of 106 · NJ 79%

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

Approval rate over time

79%82%85%88%91%87%83%86%87%90%88%201820192020202120222023

Pricing

Adjusting for its loan-type mix, Lakeland Bank’s rates ran -0.49 pp lower than the typical New Jersey lender (average rate spread -0.25 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Lakeland Bank approves

By income
Under $50k51.0% · 349$50–75k84.6% · 752$75–100k89.9% · 877$100–150k91.0% · 1,073$150–250k92.7% · 808$250k+95.3% · 535
By debt-to-income
Under 36%93.2% · 1,91336–43%95.4% · 1,28743–50%91.2% · 958Over 50%15.2% · 335
By down payment (LTV)
20%+ down87.1% · 2,87410–20% down91.7% · 3515–10% down89.5% · 7503–5% down83.6% · 67Under 3% down72.1% · 61

Why Lakeland Bank denied applications

Debt-to-income ratio58% of denialsCredit history29% of denialsOther22% of denialsCollateral (value/type)8% of denialsUnverifiable information6% of denialsEmployment history4% of denials

Where Lakeland Bank lends in NJ

CountyDecisionsApproval
Sussex County71183.8%
Morris County64286.6%
Ocean County57189.7%
Passaic County47982.5%
Bergen County45986.7%
Essex County37987.3%
Union County29890.3%
Middlesex County23893.7%

Fees & closing costs

Median total loan costs
$4,627
home purchase
As % of loan
1.31%
NJ median 1.93%
Priced originations
1,950
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Lakeland Bank’s home-purchase originations — 0.62 points lower than the 1.93% New Jersey median. Typical lender credit toward costs: $300. 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 Lakeland Bank (LEI 549300ZJ3ZL66QGSGO48). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →