The Mortgage Record
Lender report card · New Jersey

Santander Bank N.a.

New York, NY · What the federal mortgage record shows about how Santander Bank N.a. treated New Jersey applicants, 2018–2025 — 9,680 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
84.2%
8,154 approved
Denial rate
15.8%
1,526 denied
Decisions
9,680
2018–2025
Avg. rate spread
+0.00 pp
vs. market benchmark
84.2% approved
15.8% denied

Share of 9,680 New Jersey applications Santander Bank N.a. approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional84.6% of 9,486 · NJ 87%FHA62.9% of 170 · NJ 79%

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

Approval rate over time

78%83%88%93%98%89%83%81%84%87%100%201820192020202120222023

Pricing

Adjusting for its loan-type mix, Santander Bank N.a.’s rates ran -0.23 pp lower than the typical New Jersey lender (average rate spread +0.00 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Santander Bank N.a. approves

By income
Under $50k74.7% · 1,246$50–75k84.0% · 2,361$75–100k82.9% · 1,494$100–150k85.8% · 1,791$150–250k88.9% · 1,491$250k+87.9% · 1,231
By debt-to-income
Under 36%90.5% · 4,01236–43%89.1% · 2,81743–50%85.0% · 2,342Over 50%4.1% · 490
By down payment (LTV)
20%+ down83.8% · 5,35510–20% down80.8% · 5575–10% down81.0% · 7013–5% down82.8% · 641Under 3% down57.1% · 91

Why Santander Bank N.a. denied applications

Incomplete application48% of denialsDebt-to-income ratio36% of denialsOther19% of denialsCredit history15% of denialsCollateral (value/type)14% of denialsUnverifiable information13% of denials

Where Santander Bank N.a. lends in NJ

CountyDecisionsApproval
Ocean County1,74387.7%
Monmouth County1,71486.3%
Middlesex County1,18682.7%
Union County72783.9%
Bergen County60979.5%
Mercer County56289.1%
Essex County54277.1%
Camden County43187.0%

Fees & closing costs

Median total loan costs
$4,163
home purchase
As % of loan
1.55%
NJ median 1.93%
Priced originations
4,054
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Santander Bank N.a.’s home-purchase originations — 0.38 points lower than the 1.93% New Jersey median. Typical lender credit toward costs: $624. 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 Santander Bank N.a. (LEI TR24TWEY5RVRQV65HD49). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →