The Mortgage Record
Lender report card · New Jersey

Truist Bank

Raleigh, NC · What the federal mortgage record shows about how Truist Bank treated New Jersey applicants, 2018–2025 — 1,992 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
78.4%
1,561 approved
Denial rate
21.6%
431 denied
Decisions
1,992
2018–2025
Avg. rate spread
+0.12 pp
vs. market benchmark
78.4% approved
21.6% denied

Share of 1,992 New Jersey applications Truist Bank approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional79.0% of 1,936 · NJ 87%VA81.5% of 27 · NJ 80%

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

Approval rate over time

62%68%74%80%86%71%65%75%82%82%87%83%87%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, Truist Bank’s rates ran -0.10 pp lower than the typical New Jersey lender (average rate spread +0.12 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Truist Bank approves

By income
Under $50k48.0% · 196$50–75k75.4% · 281$75–100k75.1% · 229$100–150k79.6% · 318$150–250k86.3% · 364$250k+86.8% · 552
By debt-to-income
Under 36%85.7% · 85136–43%86.0% · 49943–50%87.9% · 431Over 50%9.4% · 192
By down payment (LTV)
20%+ down84.5% · 1,25210–20% down86.1% · 1875–10% down85.4% · 1373–5% down76.7% · 30Under 3% down72.7% · 88

Why Truist Bank denied applications

Debt-to-income ratio46% of denialsCredit history30% of denialsInsufficient cash to close16% of denialsCollateral (value/type)13% of denialsIncomplete application11% of denialsUnverifiable information8% of denials

Where Truist Bank lends in NJ

CountyDecisionsApproval
Camden County20473.5%
Atlantic County19280.7%
Cumberland County19067.4%
Burlington County18174.6%
Ocean County15181.5%
Gloucester County14086.4%
Monmouth County13285.6%
Cape May County12981.4%

Fees & closing costs

Median total loan costs
$5,885
home purchase
As % of loan
1.39%
NJ median 1.93%
Priced originations
825
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Truist Bank’s home-purchase originations — 0.55 points lower than the 1.93% New Jersey median. Typical lender credit toward costs: $500. 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 Truist Bank (LEI JJKC32MCHWDI71265Z06). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →