Princeton Financial Mortgage Rates, Fees & Info

Carnegie, PA

LEI: 5493006FMSXPD0U1U480

Tax ID: 03-0417816

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Princeton Financial is a smaller mortgage company specializing in Home Purchase and Refi loans. Princeton Financial has a high proportion of conventional loans. Their top markets by origination volume include: Pittsburgh, North Port, Youngstown, Port St. Lucie, and Indiana among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Princeton Financial has an above average approval rate when compared to the average across all lenders. Princeton Financial is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    714

    Origination Dollar Volume (All Markets)

    $202,020,000

    Awards

    PRINCETON FINANCIAL 30 Year Conventional Loans gold PRINCETON FINANCIAL 30 Year Conventional Loans gold
    Show all (2) awards

    Top 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
    PITTSBURGH, PA (FHA|USDA|VA) 696 $197,240,000 $283,391 $4,494 2.79%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $1,005,000 $335,000 $3,373 2.63%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 2 $580,000 $290,000 $3,833 2.94%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $515,000 $515,000 $5,175 2.50%
    Indiana, PA (FHA|USDA|VA) 1 $485,000 $485,000 $5,601 2.88%
    ERIE, PA (FHA|USDA|VA) 2 $470,000 $235,000 $5,258 2.44%
    Outside of Metro Areas 2 $320,000 $160,000 $3,659 2.38%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $315,000 $315,000 $4,735 3.13%
    New Castle, PA (FHA|USDA|VA) 1 $295,000 $295,000 $4,367 3.13%
    Somerset, PA (FHA|USDA|VA) 2 $290,000 $145,000 $3,728 2.63%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $205,000 $205,000 $3,644 2.50%
    LEBANON, PA (FHA|USDA|VA) 1 $175,000 $175,000 $3,615 2.00%
    Meadville, PA (FHA|USDA|VA) 1 $125,000 $125,000 $3,459 2.50%
    Princeton Financial's top markets include Pittsburgh, North Port, Youngstown, Port St. Lucie, and Indiana among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against PRINCETON FINANCIAL based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    M. S. Flynn, Inc.
    Similarity Rank: 236
    TRI BORO
    Similarity Rank: 264
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 456
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 623
    NEW FED MORTGAGE, CORP.
    Similarity Rank: 644
    ARMCO CREDIT UNION
    Similarity Rank: 645
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 670
    PRINCETON FINANCIAL LLC
    Similarity Rank: 754
    Standard Bank, PaSB
    Similarity Rank: 756
    COLONIAL MORTGAGE SERVICE COMPANY OF AMERICA
    Similarity Rank: 1122

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 714 $202,020,000 $282,941 $4,484 2.79%

    For 2020, Princeton Financial's most frequently originated type of loan was Conventional, with 714 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 364 $98,810,000 $271,456 $4,790 2.89%
    Refi 348 $102,630,000 $294,914 $4,168 2.68%
    Cash Out Refi 2 $580,000 $290,000 $3,970 3.38%

    For 2020, Princeton Financial's most frequently cited loan purpose was Home Purchase, with 364 originations. The 2nd most popular reason was Refi, with 348 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 541 $150,915,000 $278,956 $4,557 2.84%
    15 Year 124 $29,900,000 $241,129 $3,834 2.38%
    20 Year 19 $4,945,000 $260,263 $3,646 2.91%
    30+ year 19 $13,335,000 $701,842 $7,973 3.47%
    Other 9 $2,705,000 $300,556 $4,208 2.78%
    10 Year 1 $175,000 $175,000 $3,179 2.88%
    5 Year 1 $45,000 $45,000 $3,002 6.00%

    For 2020, Princeton Financial's most frequently cited loan duration was 30 Year, with 541 originations. The 2nd most popular length was 15 Year, with 124 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 641 $180,075,000 $280,928
    $<1k 44 $11,870,000 $269,773
    $2k-3k 14 $5,490,000 $392,143
    $3k-4k 8 $2,370,000 $296,250
    $4k-5k 5 $1,575,000 $315,000
    $5k+ 1 $465,000 $465,000

    Princeton Financial's average total fees were $4,557, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 641 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 313 $84,715,000 $270,655
    <2.5% 231 $59,565,000 $257,857
    3-4% 162 $57,070,000 $352,284
    4-5% 4 $370,000 $92,500
    5-6% 4 $300,000 $75,000

    During 2020, Princeton Financial's average interest rate for loans was 2.84%, while their most frequently originated rate bucket for loans was 2.5-3%, with 313 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 391 $112,225,000 $287,020 $4,614 2.74%
    $100k-200k 194 $30,390,000 $156,649 $3,607 2.73%
    $400k-600k 86 $41,330,000 $480,581 $5,552 2.82%
    $100,000 or less 24 $1,750,000 $72,917 $2,810 3.33%
    $600k-1MM 14 $10,530,000 $752,143 $7,628 3.44%
    $1MM+ 5 $5,795,000 $1,159,000 $9,248 3.48%

    2020 saw Princeton Financial place emphasis on $200k-400k loans with 391 originations, totaling $112,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 221 $64,725,000 $292,873 $4,564 2.71%
    $150k-250k 153 $52,225,000 $341,340 $4,747 2.82%
    $50k-75k 123 $22,585,000 $183,618 $4,015 2.78%
    $75k-100k 118 $27,460,000 $232,712 $4,263 2.81%
    $250k+ 54 $28,890,000 $535,000 $5,725 2.95%
    $50k or less 45 $6,135,000 $136,333 $3,572 2.80%

    Princeton Financial lent most frequently to those with incomes in the $100k-150k range, with 221 originations. The second most popular income band? $150k-250k, with 153 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 223 $61,275,000 $274,776 $4,410 2.75%
    30-36% 162 $47,430,000 $292,778 $4,474 2.81%
    <20% 101 $27,675,000 $274,010 $4,155 2.78%
    39% 29 $7,885,000 $271,897 $4,934 2.75%
    36% 25 $6,885,000 $275,400 $4,446 2.72%
    38% 25 $8,275,000 $331,000 $5,187 2.71%
    40% 24 $7,520,000 $313,333 $4,794 2.85%
    43% 23 $6,645,000 $288,913 $5,031 2.87%
    42% 20 $5,710,000 $285,500 $4,284 2.85%
    41% 19 $5,965,000 $313,947 $4,583 2.84%
    37% 19 $4,475,000 $235,526 $4,409 2.74%
    44% 19 $5,245,000 $276,053 $4,737 2.94%
    45% 8 $2,230,000 $278,750 $4,121 2.75%
    49% 7 $1,985,000 $283,571 $4,450 2.93%
    47% 5 $1,405,000 $281,000 $4,376 2.77%
    46% 3 $875,000 $291,667 $6,086 3.08%
    50-60% 2 $540,000 $270,000 $4,357 3.19%

    Princeton Financial lent most frequently to those with DTI ratios of 20-30%, with 223 originations. The next most common DTI ratio? 30-36%, with 162 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 657 $181,365,000 $276,050 $4,455 2.78%
    Asian 44 $15,610,000 $354,773 $4,849 2.74%
    Black 10 $3,510,000 $351,000 $4,416 3.06%
    Native Hawaiian or Islander 1 $1,115,000 $1,115,000 $10,046 3.38%
    Asian Indian 1 $255,000 $255,000 $3,982 3.25%
    Not provided 1 $165,000 $165,000 $3,237 2.99%

    Approval Rates

    Total approvals of all applications
    98.62%

    Princeton Financial 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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 714 $202,020,000 $282,941

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $45,000 $45,000
    Single Family (1-4 Units):Site-Built 713 $201,975,000 $283,275

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $2,595,000 $173,000 $3,497 2.47%
    40-60% 103 $24,955,000 $242,282 $3,804 2.56%
    60-80% 314 $95,560,000 $304,331 $4,309 2.78%
    80-100% 281 $78,875,000 $280,694 $4,991 2.89%
    Under 20% 1 $35,000 $35,000 $2,694 4.13%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Prime Choice Funding Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 50.0%
    Prime Choice Funding Inc. VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
    Prime Choice Funding Inc. VA mortgage Closing on a mortgage 1 16.7%
    Prime Choice Funding Inc. VA mortgage Trouble during payment process 1 16.7%