The Mortgage Record
Lender report card · New Jersey

Magnolia Bank

Elizabethtown, KY · What the federal mortgage record shows about how Magnolia Bank treated New Jersey applicants, 2018–2025 — 596 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
74.8%
446 approved
Denial rate
25.2%
150 denied
Decisions
596
2018–2025
Avg. rate spread
+0.32 pp
vs. market benchmark
74.8% approved
25.2% denied

Share of 596 New Jersey applications Magnolia Bank approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional76.5% of 260 · NJ 87%FHA65.7% of 137 · NJ 79%VA78.9% of 199 · NJ 80%

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

Approval rate over time

65%71%77%83%89%71%70%73%69%88%81%89%90%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, Magnolia Bank’s rates ran +0.07 pp higher than the typical New Jersey lender (average rate spread +0.32 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Magnolia Bank approves

By income
Under $50k34.6% · 52$50–75k70.3% · 128$75–100k77.1% · 118$100–150k82.2% · 146$150–250k84.5% · 71
By debt-to-income
Under 36%84.8% · 13836–43%79.2% · 9643–50%83.5% · 158Over 50%50.0% · 144
By down payment (LTV)
20%+ down76.3% · 26610–20% down78.2% · 1015–10% down72.4% · 293–5% down74.2% · 31Under 3% down71.9% · 57

Why Magnolia Bank denied applications

Debt-to-income ratio38% of denialsCredit history25% of denialsIncomplete application17% of denialsCollateral (value/type)13% of denialsOther8% of denialsUnverifiable information3% of denials

Where Magnolia Bank lends in NJ

CountyDecisionsApproval
Bergen County9282.6%
Ocean County5477.8%
Middlesex County5377.4%
Monmouth County4875.0%
Essex County4757.4%
Burlington County3876.3%
Morris County3278.1%
Camden County3070.0%

Fees & closing costs

Median total loan costs
$8,733
home purchase
As % of loan
3.17%
NJ median 1.93%
Priced originations
86
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Magnolia Bank’s home-purchase originations — 1.24 points higher than the 1.93% New Jersey median. Typical lender credit toward costs: $239. 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 Magnolia Bank (LEI 549300REENMLD2RN3W58). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →