Pinnacle Mortgage Rates, Fees & Info
EAST HANOVER, NJLEI: 549300BTFTXJ72LSIY30
Tax ID: 22-3048514
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Mortgage Data
Review & Overview
Pinnacle Mortgage is a smaller mortgage company specializing in Home Purchase loans. Pinnacle Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: New York, Philadelphia, Atlantic City, Trenton, and Ocean City among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Pinnacle Mortgage has an above average approval rate when compared to the average across all lenders. Pinnacle Mortgage is typically a high 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.69% | 12/4/23 |
| 30 Year Conventional Refi | 5.35% | 12/4/23 |
| 30 Year Cash-out Refi | 5.50% | 12/4/23 |
| 30 Year FHA Purchase | 6.30% | 12/4/23 |
| 30 Year FHA Refi | 6.88% | 12/4/23 |
| 30 Year VA Purchase | 5.65% | 12/4/23 |
| 15 Year Conventional Purchase | 5.07% | 12/4/23 |
| 15 Year Conventional Refi | 5.29% | 12/4/23 |
| 15 Year Cash-out Refi | 5.29% | 12/4/23 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Pinnacle Mortgage Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Pinnacle Mortgage. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
397Origination Dollar Volume (All Markets)
$179,995,000Awards
PINNACLE MORTGAGE - 2022
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For 2022, less than of lenders were eligible for this award.
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Relative Rate
Pinnacle Mortgage's average 30 year fixed mortgage rate was
4.52%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.24%.
Relative Fees (Closing Costs)
Pinnacle Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $11,570.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 287 | $135,565,000 | $472,352 | $10,894 | 4.43% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 72 | $30,050,000 | $417,361 | $13,104 | 4.13% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 9 | $4,625,000 | $513,889 | $9,920 | 4.83% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 4 | $1,610,000 | $402,500 | $0 | 4.28% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 3 | $1,395,000 | $465,000 | $0 | 4.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $1,320,000 | $660,000 | $0 | 5.19% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 4 | $800,000 | $200,000 | $0 | 4.90% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $0 | 4.19% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $0 | 5.44% |
| LANCASTER, PA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $0 | 5.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $9,349 | 4.25% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $0 | 6.62% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $0 | 5.06% |
| Outside of Metro Areas | 1 | $355,000 | $355,000 | $0 | 7.25% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 4.63% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 5.13% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 6.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against PINNACLE MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 367 | $167,085,000 | $455,272 | $5,848 | 4.39% |
| FHA | 27 | $11,305,000 | $418,704 | $13,730 | 4.95% |
| VA | 3 | $1,605,000 | $535,000 | $23,829 | 3.83% |
For 2022, Pinnacle Mortgage's most frequently originated type of loan was Conventional, with 367 originations. Their 2nd most popular type was FHA, with 27 originations.
Loan Reason
For 2022, Pinnacle Mortgage's most frequently cited loan purpose was Home Purchase, with 286 originations. The 2nd most popular reason was Cash Out Refi, with 62 originations.
Loan Duration/Length
For 2022, Pinnacle Mortgage's most frequently cited loan duration was 30 Year, with 358 originations. The 2nd most popular length was 15 Year, with 24 originations.
Origination Fees/Closing Costs
Pinnacle Mortgage's average total fees were $11,570, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 315 originations.
Interest Rates
During 2022, Pinnacle Mortgage's average interest rate for loans was 4.52%, while their most frequently originated rate bucket for loans was 3-4%, with 120 originations.
Loan Sizing
2022 saw Pinnacle Mortgage place emphasis on $200k-400k loans with 154 originations, totaling $46,760,000 in origination value.
Applicant Income
Pinnacle Mortgage lent most frequently to those with incomes in the $150k-250k range, with 129 originations. The second most popular income band? $100k-150k, with 105 originations.
Applicant Debt to Income Ratio
Pinnacle Mortgage lent most frequently to those with DTI ratios of 20-30%, with 95 originations. The next most common DTI ratio? 30-36%, with 74 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Pinnacle Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 55 | $25,725,000 | $467,727 |
| 1120.0 | 3 | $1,755,000 | $585,000 |
| 145.0 | 1 | $285,000 | $285,000 |
| 1450.0 | 1 | $905,000 | $905,000 |
| 1500.0 | 1 | $515,000 | $515,000 |
| 16235.0 | 1 | $515,000 | $515,000 |
| 215.0 | 1 | $635,000 | $635,000 |
| 315.0 | 2 | $1,110,000 | $555,000 |
| 325.0 | 1 | $285,000 | $285,000 |
| 3260.0 | 1 | $245,000 | $245,000 |
| 3620.0 | 1 | $255,000 | $255,000 |
| 3850.0 | 1 | $215,000 | $215,000 |
| 425.0 | 1 | $205,000 | $205,000 |
| 5925.0 | 1 | $315,000 | $315,000 |
| NA | 326 | $147,030,000 | $451,012 |