The Bank Of Princeton Mortgage Rates, Fees & Info

Princeton, NJ

LEI: 549300EMC7T53UNNNA58

Tax ID: 68-0645074

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Mortgage Data

Review & Overview

The Bank Of Princeton is a smaller bank specializing in Cash Out Refi and Home Purchase loans. The Bank Of Princeton has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Trenton, and Pittsburgh among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Bank Of Princeton 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

40

Origination Dollar Volume (All Markets)

$153,750,000

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) 20 $148,400,000 $7,420,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 15 $3,795,000 $253,000 $0 0.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 4 $1,310,000 $327,500 $0 0.00%
PITTSBURGH, PA (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
The Bank Of Princeton's top markets include New York, Philadelphia, Trenton, and Pittsburgh among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 40 $153,750,000 $3,843,750 $0 0.00%

    For 2022, The Bank Of Princeton's most frequently originated type of loan was Conventional, with 40 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 16 $97,390,000 $6,086,875 $0 0.00%
    Home Purchase 14 $54,690,000 $3,906,429 $0 0.00%
    Home Improvement 5 $405,000 $81,000 $0 0.00%
    Refi 3 $1,135,000 $378,333 $0 0.00%
    Other 2 $130,000 $65,000 $0 0.00%

    For 2022, The Bank Of Princeton's most frequently cited loan purpose was Cash Out Refi, with 16 originations. The 2nd most popular reason was Home Purchase, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 40 $153,750,000 $3,843,750 $0 0.00%

    For 2022, The Bank Of Princeton's most frequently cited loan duration was Other, with 40 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 17 $147,955,000 $8,703,235 $0 0.00%
    $100,000 or less 7 $385,000 $55,000 $0 0.00%
    $200k-400k 6 $1,730,000 $288,333 $0 0.00%
    $100k-200k 5 $705,000 $141,000 $0 0.00%
    $400k-600k 3 $1,455,000 $485,000 $0 0.00%
    $600k-1MM 2 $1,520,000 $760,000 $0 0.00%

    2022 saw The Bank Of Princeton place emphasis on $1MM+ loans with 17 originations, totaling $147,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 6 $780,000 $130,000 $0 0.00%
    $150k-250k 3 $875,000 $291,667 $0 0.00%
    $50k-75k 3 $255,000 $85,000 $0 0.00%
    $75k-100k 2 $200,000 $100,000 $0 0.00%
    $250k+ 1 $495,000 $495,000 $0 0.00%
    $50k or less 1 $45,000 $45,000 $0 0.00%

    The Bank Of Princeton lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $150k-250k, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 40 $153,750,000 $3,843,750 $0 0.00%

    The Bank Of Princeton lent most frequently to those with DTI ratios of Exempt%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 24 $151,100,000 $6,295,833 $0 0.00%
    White 12 $2,010,000 $167,500 $0 0.00%
    Not provided 3 $505,000 $168,333 $0 0.00%
    Asian 1 $135,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    80.00%

    The Bank Of Princeton has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    87.50%

    The Bank Of Princeton has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 40 $153,750,000 $3,843,750

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    40 $153,750,000 $3,843,750

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    TD BANK US HOLDING COMPANY Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    TD BANK US HOLDING COMPANY Conventional home mortgage Closing on a mortgage 1 50.0%