Pinnacle Mortgage Rates, Fees & Info

EAST HANOVER, NJ

LEI: 549300BTFTXJ72LSIY30

Tax ID: 22-3048514

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Pinnacle Mortgage is a smaller mortgage company specializing in Refi and Home Purchase loans. Pinnacle Mortgage 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.) Their top markets by origination volume include: New York, Philadelphia, Atlantic City, Trenton, and Ocean City among others. We have data for 19 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 an average 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.69% 12/16/24
    30 Year Conventional Refi 5.35% 12/16/24
    30 Year Cash-out Refi 5.50% 12/16/24
    30 Year FHA Purchase 6.30% 12/16/24
    30 Year FHA Refi 6.88% 12/16/24
    30 Year VA Purchase 5.65% 12/16/24
    15 Year Conventional Purchase 5.07% 12/16/24
    15 Year Conventional Refi 5.29% 12/16/24
    15 Year Cash-out Refi 5.29% 12/16/24
    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

    1,284

    Origination Dollar Volume (All Markets)

    $507,810,000

    Awards

    PINNACLE MORTGAGE 30 Year Conventional Loans bronze PINNACLE MORTGAGE 30 Year Conventional Loans gold PINNACLE MORTGAGE 30 Year Conventional Loans gold PINNACLE MORTGAGE 30 Year Conventional Loans gold
    Show all (4) 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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 940 $388,270,000 $413,053 $4,458 2.74%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 274 $96,310,000 $351,496 $4,792 2.54%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 20 $8,060,000 $403,000 $3,134 3.06%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 12 $3,920,000 $326,667 $10,648 2.76%
    OCEAN CITY, NJ (FHA|USDA|VA) 8 $2,640,000 $330,000 $4,831 2.87%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 8 $2,080,000 $260,000 $3,151 2.81%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,070,000 $535,000 $7,250 3.68%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 4 $1,030,000 $257,500 $0 2.47%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $780,000 $390,000 $5,467 2.81%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $740,000 $370,000 $5,230 2.56%
    Outside of Metro Areas 2 $610,000 $305,000 $0 3.19%
    PITTSBURGH, PA (FHA|USDA|VA) 2 $470,000 $235,000 $2,856 2.50%
    READING, PA (FHA|USDA|VA) 1 $385,000 $385,000 $0 2.63%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $350,000 $175,000 $0 3.00%
    LANCASTER, PA (FHA|USDA|VA) 1 $295,000 $295,000 $0 2.50%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $255,000 $255,000 $0 2.75%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $195,000 $195,000 $0 2.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $185,000 $185,000 $0 2.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $165,000 $165,000 $2,828 2.75%
    Pinnacle Mortgage's top markets include New York, Philadelphia, Atlantic City, Trenton, and Ocean City among others.

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

    • 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.

    N C P D Federal Credit Union
    Similarity Rank: 102
    Schuyler Savings Bank
    Similarity Rank: 352
    Louviers Federal Credit Union
    Similarity Rank: 410
    BHCU
    Similarity Rank: 504
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 652
    The First National Bank of Long Island
    Similarity Rank: 748
    The Atlantic Federal Credit Union
    Similarity Rank: 882
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 1064
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1092
    Poli Mortgage Group, Inc.
    Similarity Rank: 1369

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,258 $498,320,000 $396,121 $4,319 2.70%
    FHA 25 $9,265,000 $370,600 $10,135 2.90%
    VA 1 $225,000 $225,000 $0 2.50%

    For 2021, Pinnacle Mortgage's most frequently originated type of loan was Conventional, with 1,258 originations. Their 2nd most popular type was FHA, with 25 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 599 $222,315,000 $371,144 $3,395 2.54%
    Home Purchase 449 $192,325,000 $428,341 $6,314 2.85%
    Cash Out Refi 235 $92,845,000 $395,085 $4,116 2.85%
    Other 1 $325,000 $325,000 $0 3.50%

    For 2021, Pinnacle Mortgage's most frequently cited loan purpose was Refi, with 599 originations. The 2nd most popular reason was Home Purchase, with 449 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 865 $364,265,000 $421,116 $4,966 2.87%
    15 Year 252 $84,370,000 $334,802 $3,320 2.26%
    20 Year 92 $35,290,000 $383,587 $3,274 2.64%
    Other 46 $16,410,000 $356,739 $3,525 2.46%
    10 Year 29 $7,475,000 $257,759 $3,400 2.27%

    For 2021, Pinnacle Mortgage's most frequently cited loan duration was 30 Year, with 865 originations. The 2nd most popular length was 15 Year, with 252 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,125 $437,685,000 $389,053
    $2k-3k 23 $6,655,000 $289,348
    $<1k 18 $7,630,000 $423,889
    $5k+ 15 $8,785,000 $585,667
    $3k-4k 10 $3,350,000 $335,000
    $4k-5k 9 $4,225,000 $469,444

    Pinnacle Mortgage's average total fees were $4,966, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,125 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 631 $262,615,000 $416,189
    <2.5% 454 $163,440,000 $360,000
    3-4% 189 $77,895,000 $412,143
    4-5% 10 $3,860,000 $386,000

    During 2021, Pinnacle Mortgage's average interest rate for loans was 2.87%, while their most frequently originated rate bucket for loans was 2.5-3%, with 631 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 592 $180,180,000 $304,358 $4,661 2.65%
    $400k-600k 439 $210,595,000 $479,715 $4,629 2.68%
    $600k-1MM 126 $90,630,000 $719,286 $5,796 2.96%
    $100k-200k 115 $18,595,000 $161,696 $2,885 2.75%
    $100,000 or less 6 $510,000 $85,000 $0 3.10%
    $1MM+ 6 $7,300,000 $1,216,667 $0 3.00%

    2021 saw Pinnacle Mortgage place emphasis on $200k-400k loans with 592 originations, totaling $180,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 394 $164,550,000 $417,640 $4,007 2.67%
    $100k-150k 316 $115,510,000 $365,538 $4,957 2.65%
    $250k+ 246 $122,670,000 $498,659 $5,325 2.81%
    $50k or less 140 $51,980,000 $371,286 $3,981 2.64%
    $75k-100k 121 $36,905,000 $305,000 $5,023 2.76%
    $50k-75k 67 $16,195,000 $241,716 $7,966 2.86%

    Pinnacle Mortgage lent most frequently to those with incomes in the $150k-250k range, with 394 originations. The second most popular income band? $100k-150k, with 316 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 403 $161,885,000 $401,700 $4,867 2.69%
    30-36% 226 $91,990,000 $407,035 $4,128 2.70%
    <20% 172 $68,200,000 $396,512 $4,428 2.64%
    39% 52 $22,050,000 $424,038 $4,818 2.69%
    36% 48 $18,490,000 $385,208 $4,577 2.76%
    41% 44 $16,380,000 $372,273 $2,400 2.60%
    43% 39 $15,895,000 $407,564 $4,574 2.80%
    37% 38 $15,280,000 $402,105 $3,681 2.78%
    44% 38 $16,250,000 $427,632 $4,560 2.85%
    42% 34 $13,100,000 $385,294 $0 2.68%
    38% 34 $11,500,000 $338,235 $4,107 2.72%
    40% 33 $13,045,000 $395,303 $0 2.74%
    47% 24 $8,470,000 $352,917 $3,352 2.81%
    45% 24 $8,570,000 $357,083 $4,530 2.80%
    48% 23 $7,105,000 $308,913 $3,637 2.77%
    46% 21 $7,985,000 $380,238 $5,462 2.67%
    50-60% 16 $6,090,000 $380,625 $10,183 2.94%
    49% 13 $4,695,000 $361,154 $10,037 2.76%
    >60% 2 $830,000 $415,000 $0 2.69%

    Pinnacle Mortgage lent most frequently to those with DTI ratios of 20-30%, with 403 originations. The next most common DTI ratio? 30-36%, with 226 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 853 $344,315,000 $403,652 $4,439 2.78%
    Asian 363 $136,475,000 $375,964 $4,763 2.51%
    Not provided 49 $19,315,000 $394,184 $5,128 2.88%
    Black 10 $3,640,000 $364,000 $10,648 2.91%
    Asian Indian 6 $2,540,000 $423,333 $0 2.77%
    Other Asian 2 $940,000 $470,000 $0 2.81%
    Chinese 1 $585,000 $585,000 $0 3.50%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,284 $507,810,000 $395,491

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,284 $507,810,000 $395,491

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 62 $15,550,000 $250,806 $1,590 2.53%
    40-60% 298 $104,030,000 $349,094 $3,723 2.57%
    60-80% 664 $277,050,000 $417,244 $4,328 2.75%
    80-100% 258 $110,540,000 $428,450 $6,912 2.80%
    Over 100% 1 $505,000 $505,000 $0 2.99%
    Under 20% 1 $135,000 $135,000 $0 2.13%

    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%