Pinnacle Lending Group Mortgage Rates, Fees & Info

LAS VEGAS, NV

LEI: 5493005T6ET3508ZXP66

Tax ID: 20-4095036

4.7 stars - out of 5 stars, based on 27 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Pinnacle Lending Group is a smaller mortgage company specializing in Home Purchase and Refi loans. Pinnacle Lending Group has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Las Vegas, Phoenix, Los Angeles, Salt Lake City, and Reno among others. Pinnacle Lending Group has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Pinnacle Lending Group is typically an average fee lendor.


Originations

710

Origination Dollar Volume (All Markets)

$215,170,000

Awards

PINNACLE LENDING GROUP  FHA Loans bronze PINNACLE LENDING GROUP  FHA Loans bronze PINNACLE LENDING GROUP  VA Loans silver
Show all (3) awards

Relative Rate

Pinnacle Lending Group 's average 30 year fixed rate mortgage of loans were 3.04%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.11%.

Relative Fees

Pinnacle Lending Group 's average total fees for a 30 year fixed rate mortgage are $5,436.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 603 $178,675,000 $296,310 $5,185 3.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 39 $12,605,000 $323,205 $5,506 3.03%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 8 $4,890,000 $611,250 $7,659 3.06%
SALT LAKE CITY, UT (FHA|USDA|VA) 13 $4,185,000 $321,923 $7,188 3.16%
RENO, NV (FHA|USDA|VA) 4 $1,520,000 $380,000 $4,365 3.31%
Outside of Metro Areas 3 $1,005,000 $335,000 $8,334 3.25%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $935,000 $935,000 $0 2.99%
GRAND JUNCTION, CO (FHA|USDA|VA) 3 $915,000 $305,000 $5,090 2.66%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $900,000 $450,000 $16,327 2.81%
Pahrump, NV (FHA|USDA|VA) 4 $810,000 $202,500 $5,008 2.84%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 2 $800,000 $400,000 $3,682 2.69%
TUCSON, AZ (FHA|USDA|VA) 3 $725,000 $241,667 $3,662 2.58%
ALBUQUERQUE, NM (FHA|USDA|VA) 2 $690,000 $345,000 $4,896 3.50%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $650,000 $325,000 $8,607 2.75%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $600,000 $300,000 $4,340 4.18%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $570,000 $285,000 $5,544 2.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $545,000 $545,000 $4,792 3.00%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $515,000 $515,000 $4,840 3.25%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $455,000 $455,000 $3,426 2.99%
BATTLE CREEK, MI (FHA|USDA|VA) 1 $345,000 $345,000 $14,409 2.88%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $310,000 $155,000 $3,037 2.75%
Fallon, NV (FHA|USDA|VA) 1 $305,000 $305,000 $6,106 2.50%
GREELEY, CO (FHA|USDA|VA) 1 $295,000 $295,000 $13,684 2.25%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $275,000 $275,000 $2,999 3.00%
Fernley, NV (FHA|USDA|VA) 1 $265,000 $265,000 $3,938 3.38%
CARSON CITY, NV (FHA|USDA|VA) 1 $245,000 $245,000 $5,585 3.49%
YUMA, AZ (FHA|USDA|VA) 1 $225,000 $225,000 $3,843 2.25%
Payson, AZ (FHA|USDA|VA) 1 $225,000 $225,000 $12,114 2.25%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $215,000 $215,000 $3,415 2.99%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $165,000 $165,000 $7,261 3.88%
OCALA, FL (FHA|USDA|VA) 1 $155,000 $155,000 $7,455 4.25%
FLAGSTAFF, AZ (FHA|USDA|VA) 1 $155,000 $155,000 $3,734 3.00%

Pinnacle Lending Group 's top markets include Las Vegas, Phoenix, Los Angeles, Salt Lake City, and Reno among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 541 $160,065,000 $295,869 $4,248 3.09%
FHA 97 $27,185,000 $280,258 $8,586 2.91%
VA 72 $27,920,000 $387,778 $8,921 2.52%

For the 2021 period, Pinnacle Lending Group 's most frequently originated loan type of loans were Conventional, with 541 originations. Their 2nd most popular type is FHA, with 97 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 296 $102,330,000 $345,709 $6,917 3.08%
Refi 259 $70,555,000 $272,413 $4,008 2.88%
Cash Out Refi 155 $42,285,000 $272,806 $4,507 3.09%

For the 2021, Pinnacle Lending Group 's most frequently cited loan purpose of loans were Home Purchase, with 296 originations. The 2nd most popular reason of loans were Refi, with 259 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 663 $204,025,000 $307,730 $5,436 3.04%
15 Year 28 $6,820,000 $243,571 $3,519 2.49%
20 Year 16 $3,520,000 $220,000 $4,154 2.68%
Other 2 $710,000 $355,000 $3,860 3.25%
10 Year 1 $95,000 $95,000 $4,676 2.25%

For the 2021, Pinnacle Lending Group 's most frequently cited loan length of loans were 30 Year, with 663 originations. The 2nd most popular length of loans were 15 Year, with 28 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 649 $194,985,000 $300,439
$2k-3k 21 $6,195,000 $295,000
$3k-4k 19 $5,195,000 $273,421
$5k+ 6 $3,390,000 $565,000
$<1k 2 $720,000 $360,000

$5,436 of loans were Pinnacle Lending Group 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 649 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 315 $93,455,000 $296,683
3-4% 261 $81,675,000 $312,931
<2.5% 116 $34,810,000 $300,086
4-5% 17 $4,655,000 $273,824
5-6% 1 $575,000 $575,000

During 2021, Pinnacle Lending Group 's average interest rate of loans were 3.04%, while their most frequently originated rate bucket of loans were 2.5-3%, with 315 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 437 $126,165,000 $288,707 $5,510 3.00%
$100k-200k 139 $22,065,000 $158,741 $3,888 3.02%
$400k-600k 107 $51,665,000 $482,850 $5,443 2.99%
$600k-1MM 12 $8,740,000 $728,333 $12,404 2.97%
$100,000 or less 10 $870,000 $87,000 $3,774 3.12%
$1MM+ 5 $5,665,000 $1,133,000 $13,952 3.53%

2021 saw Pinnacle Lending Group place emphasis on $200k-400k loans with 437 originations, totaling $126,165,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 212 $57,010,000 $268,915 $5,745 3.02%
$50k or less 152 $33,280,000 $218,947 $4,738 2.87%
$75k-100k 112 $34,290,000 $306,161 $5,284 3.06%
$100k-150k 106 $36,480,000 $344,151 $5,604 3.07%
$150k-250k 96 $39,760,000 $414,167 $5,284 3.05%
$250k+ 32 $14,350,000 $448,438 $4,651 3.07%

Pinnacle Lending Group lent most frequently to those with incomes in the $50k-75k range, with 212 originations. The second most popular income band? $50k or less, with 152 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 107 $30,335,000 $283,505 $4,353 3.04%
30-36% 103 $30,465,000 $295,777 $5,079 2.99%
50-60% 53 $17,575,000 $331,604 $9,544 2.90%
41% 38 $11,500,000 $302,632 $4,873 2.98%
44% 35 $10,195,000 $291,286 $6,099 3.14%
49% 33 $9,645,000 $292,273 $4,740 2.99%
<20% 33 $9,325,000 $282,576 $3,887 2.96%
43% 29 $9,365,000 $322,931 $5,016 3.24%
47% 29 $8,815,000 $303,966 $5,372 3.12%
42% 28 $8,340,000 $297,857 $4,541 3.17%
46% 27 $7,955,000 $294,630 $5,427 2.97%
39% 25 $8,055,000 $322,200 $5,529 3.07%
48% 24 $7,420,000 $309,167 $4,976 2.94%
37% 23 $7,245,000 $315,000 $4,148 3.08%
40% 23 $6,855,000 $298,043 $5,138 2.88%
38% 22 $6,650,000 $302,273 $5,961 2.98%
45% 19 $5,995,000 $315,526 $4,323 3.08%
36% 19 $6,525,000 $343,421 $4,525 3.25%
>60% 6 $2,880,000 $480,000 $13,685 3.17%

Pinnacle Lending Group lent most frequently to those with DTI ratios of 20-30%, with 107 originations. The next most common DTI ratio? 30-36%, with 103 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 511 $154,225,000 $301,810 $5,321 2.99%
Not provided 78 $22,540,000 $288,974 $4,864 3.13%
Asian 58 $19,490,000 $336,034 $4,598 3.03%
Black 53 $16,045,000 $302,736 $6,862 2.91%
American Indian 3 $975,000 $325,000 $4,301 3.62%
Native Hawaiian 3 $945,000 $315,000 $6,793 2.87%
Filipino 2 $370,000 $185,000 $5,787 3.31%
Asian Indian 1 $365,000 $365,000 $3,458 3.25%
Other Asian 1 $215,000 $215,000 $4,534 2.50%

Approval Rates

Total approvals of all applications
96.76%

Pinnacle Lending Group has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
74.91%

Pinnacle Lending Group has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 710 $215,170,000 $303,056

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
710 $215,170,000 $303,056

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 34 $7,120,000 $209,412 $3,205 2.86%
40-60% 94 $23,090,000 $245,638 $3,582 2.90%
60-80% 308 $93,480,000 $303,506 $4,737 3.09%
80-100% 257 $83,635,000 $325,428 $6,088 2.98%
Over 100% 16 $7,470,000 $466,875 $18,680 2.62%
Under 20% 1 $375,000 $375,000 $8,195 3.38%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Pinnacle Lending Group, Inc. Conventional home mortgage Closing on a mortgage 1 100.0%