Based in New Jersey, Kearny Bank serves customers across the Northeast with a range of residential and commercial lending products. The bank emphasizes personalized service and support for homebuyers, particularly first-time buyers. While its mortgage fees are generally in line with industry norms, borrowers can likely save at least $1,000 at closing by exploring lenders that charge no origination fees.
See today’s mortgage interest rates on TrueRate.
How Kearny Bank compares to other mortgage lenders
Headquarters | Fairfield, New Jersey |
Website | kearnybank.com |
Rate | 0.23% lower than the median interest rate |
Lender fees | $1,125 (median on Kearny Bank loans) |
Savings after 1 year, compared to the median interest rate | $1,091 |
Savings after 10 years, compared to the median interest rate | $7,557 |
For a $400,000 mortgage, Kearny Bank’s rates—roughly 0.23% below the median lender—and $1,125 in lender fees result in estimated savings of $1,091 in the first year and $7.557 over 10 years compared to the median lender.
What customers are saying
Customer reviews of Kearny Bank’s mortgage services, as seen on platforms like Yelp, BBB, and BankGrader, reveal mixed experiences.
Borrowers praised Kearny Bank for competitive rates and clear communication during the mortgage process. Customers appreciated the thoroughness of loan officers and their ability to guide first-time buyers through complex transactions. Reviews also highlight smooth closings and personalized service, with some borrowers noting that the bank went above and beyond to ensure satisfaction.
Complaints frequently mention poor customer service, delays in processing, and communication issues. Some borrowers reported frustrations with unresponsive representatives and errors in paperwork that caused financial complications. Yelp reviews indicate dissatisfaction with operational inefficiencies, including difficulties accessing funds or resolving disputes.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.