Pinnacle Bank Mortgage Rates, Fees & Info
ELBERTON, GALEI: 2549006MTEQ1VE0AAQ20
Tax ID: 58-0232548
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Mortgage Data
Review & Overview
Pinnacle Bank is a smaller bank specializing in Home Purchase and Refi loans. Pinnacle Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Atlanta, Athens, Augusta, Gainesville, and Cornelia among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)Pinnacle Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
415Origination Dollar Volume (All Markets)
$144,715,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 89 | $37,475,000 | $421,067 | $0 | 0.00% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 47 | $30,435,000 | $647,553 | $0 | 0.00% |
| Outside of Metro Areas | 145 | $29,975,000 | $206,724 | $0 | 0.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 35 | $11,795,000 | $337,000 | $0 | 0.00% |
| GAINESVILLE, GA (FHA|USDA|VA) | 20 | $9,060,000 | $453,000 | $0 | 0.00% |
| Cornelia, GA (FHA|USDA|VA) | 32 | $7,330,000 | $229,063 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $6,505,000 | $6,505,000 | $0 | 0.00% |
| Jefferson, GA (FHA|USDA|VA) | 18 | $5,320,000 | $295,556 | $0 | 0.00% |
| Toccoa, GA (FHA|USDA|VA) | 14 | $2,070,000 | $147,857 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $875,000 | $875,000 | $0 | 0.00% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| DALTON, GA (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $0 | 0.00% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Milledgeville, GA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
For 2022, Pinnacle Bank's most frequently originated type of loan was Conventional, with 390 originations. Their 2nd most popular type was FHA, with 12 originations.
Loan Reason
For 2022, Pinnacle Bank's most frequently cited loan purpose was Home Purchase, with 238 originations. The 2nd most popular reason was Refi, with 122 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 415 | $144,715,000 | $348,711 | $0 | 0.00% |
For 2022, Pinnacle Bank's most frequently cited loan duration was Other, with 415 originations.
Loan Sizing
2022 saw Pinnacle Bank place emphasis on $200k-400k loans with 133 originations, totaling $36,505,000 in origination value.
Applicant Income
Pinnacle Bank lent most frequently to those with incomes in the $100k-150k range, with 67 originations. The second most popular income band? $50k-75k, with 56 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 415 | $144,715,000 | $348,711 | $0 | 0.00% |
Pinnacle Bank lent most frequently to those with DTI ratios of Exempt%, with 415 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.75%
Pinnacle Bank has a below average approval rate.
Pick Rate
Approvals leading to origination66.27%
Pinnacle Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 415 | $144,715,000 | $348,711 |