The Mortgage Record
Lender report card · New Jersey

Oceanfirst Bank

Toms River, NJ · What the federal mortgage record shows about how Oceanfirst Bank treated New Jersey applicants, 2018–2025 — 13,156 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
90.4%
11,888 approved
Denial rate
9.6%
1,268 denied
Decisions
13,156
2018–2025
Avg. rate spread
+0.07 pp
vs. market benchmark
90.4% approved
9.6% denied

Share of 13,156 New Jersey applications Oceanfirst Bank approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional90.4% of 12,996 · NJ 87%FHA85.1% of 114 · NJ 79%VA91.3% of 46 · NJ 80%

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

Approval rate over time

80%84%88%92%96%84%88%90%92%89%88%93%96%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, Oceanfirst Bank’s rates ran -0.16 pp lower than the typical New Jersey lender (average rate spread +0.07 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Oceanfirst Bank approves

By income
Under $50k66.5% · 1,096$50–75k83.7% · 1,476$75–100k89.2% · 1,511$100–150k91.8% · 2,605$150–250k94.6% · 3,048$250k+96.3% · 3,173
By debt-to-income
Under 36%94.4% · 6,74436–43%95.9% · 3,60343–50%91.7% · 2,106Over 50%11.3% · 636
By down payment (LTV)
20%+ down91.5% · 9,58610–20% down89.4% · 8625–10% down95.0% · 5453–5% down91.7% · 387Under 3% down78.7% · 183

Why Oceanfirst Bank denied applications

Debt-to-income ratio52% of denialsCredit history34% of denialsCollateral (value/type)20% of denialsOther9% of denialsUnverifiable information4% of denialsInsufficient cash to close3% of denials

Where Oceanfirst Bank lends in NJ

CountyDecisionsApproval
Ocean County4,21289.6%
Monmouth County1,92591.6%
Cape May County1,78994.1%
Atlantic County1,64788.6%
Middlesex County64596.3%
Burlington County50092.6%
Camden County45590.8%
Cumberland County44075.2%

Fees & closing costs

Median total loan costs
$4,720
home purchase
As % of loan
1.28%
NJ median 1.93%
Priced originations
6,380
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Oceanfirst Bank’s home-purchase originations — 0.65 points lower than the 1.93% New Jersey median. Typical lender credit toward costs: $2,297. 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 Oceanfirst Bank (LEI 5493002N5168AC238149). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →