Peapack-gladstone Bank Mortgage Rates, Fees & Info

Bedminster, NJ

LEI: 549300FZJCP0WM3QJH15

Tax ID: 22-2491488

5 stars - Updated: 12/2/24 - out of 5 stars, based on 16 reviews

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

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Mortgage Data

Review & Overview

Peapack-gladstone Bank is a smaller bank specializing in Home Purchase and Refi loans. Peapack-gladstone Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Allentown, Miami, Tampa, and Philadelphia among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

Peapack-gladstone Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Peapack-gladstone Bank 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 5.29% 12/2/24
30 Year Conventional Refi 5.64% 12/2/24
30 Year Cash-out Refi 5.74% 12/2/24
15 Year Conventional Purchase 5.56% 12/2/24
15 Year Conventional Refi 5.79% 12/2/24
15 Year Cash-out Refi 5.79% 12/2/24
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.

Peapack-gladstone Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Peapack-gladstone Bank. 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

262

Origination Dollar Volume (All Markets)

$182,820,000

Awards

Peapack-Gladstone Bank 30 Year Conventional Loans gold Peapack-Gladstone Bank 30 Year Conventional Loans gold Peapack-Gladstone Bank 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Peapack-gladstone Bank's average 30 year fixed mortgage rate was 5.07%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -1.41%.

Relative Fees (Closing Costs)

Peapack-gladstone Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,299.

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 $9,089.

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) 223 $146,765,000 $658,139 $4,915 5.07%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 5 $18,285,000 $3,657,000 $5,268 6.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $7,150,000 $1,191,667 $9,625 6.23%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 9 $2,505,000 $278,333 $4,056 5.96%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $1,115,000 $371,667 $5,034 6.63%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $1,040,000 $520,000 $6,404 5.63%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $945,000 $945,000 $5,990 5.63%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $900,000 $450,000 $5,331 6.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $755,000 $755,000 $6,577 5.50%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $710,000 $355,000 $4,907 5.69%
Torrington, CT (FHA|USDA|VA) 1 $705,000 $705,000 $6,237 5.25%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $395,000 $395,000 $0 5.88%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $335,000 $335,000 $3,645 5.88%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $315,000 $315,000 $0 6.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $255,000 $255,000 $2,555 6.00%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $255,000 $255,000 $4,830 6.13%
Outside of Metro Areas 1 $225,000 $225,000 $3,177 6.50%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $165,000 $165,000 $0 6.00%
Peapack-gladstone Bank's top markets include New York, Allentown, Miami, Tampa, and Philadelphia among others.

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

    We use machine learning to identify the top lenders compared against Peapack-Gladstone Bank 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 262 $182,820,000 $697,786 $5,008 5.21%

    For 2023, Peapack-gladstone Bank's most frequently originated type of loan was Conventional, with 262 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 213 $108,905,000 $511,291 $5,395 5.07%
    Cash Out Refi 22 $8,060,000 $366,364 $3,338 5.55%
    Refi 19 $64,095,000 $3,373,421 $1,905 5.99%
    Home Improvement 6 $1,670,000 $278,333 $0 6.15%
    Other 2 $90,000 $45,000 $0 6.13%

    For 2023, Peapack-gladstone Bank's most frequently cited loan purpose was Home Purchase, with 213 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 233 $102,895,000 $441,609 $5,299 5.07%
    10 Year 20 $32,730,000 $1,636,500 $336 6.28%
    Other 4 $19,270,000 $4,817,500 $0 6.78%
    5 Year 3 $21,565,000 $7,188,333 $0 6.17%
    20 Year 1 $115,000 $115,000 $3,133 4.75%
    3 Year 1 $6,245,000 $6,245,000 $0 8.00%

    For 2023, Peapack-gladstone Bank's most frequently cited loan duration was 30 Year, with 233 originations. The 2nd most popular length was 10 Year, with 20 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 209 $89,145,000 $426,531
    $5k+ 2 $810,000 $405,000
    $1k-2k 1 $345,000 $345,000
    $3k-4k 1 $515,000 $515,000

    Peapack-gladstone Bank's average total fees were $5,299, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 209 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 73 $70,715,000 $968,699
    3-4% 63 $28,495,000 $452,302
    4-5% 63 $25,165,000 $399,444
    6-7% 52 $44,060,000 $847,308
    7-8% 10 $12,680,000 $1,268,000
    Over 8% 1 $1,705,000 $1,705,000

    During 2023, Peapack-gladstone Bank's average interest rate for loans was 5.07%, while their most frequently originated rate bucket for loans was 5-6%, with 73 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 92 $28,080,000 $305,217 $4,594 5.26%
    $400k-600k 71 $33,795,000 $475,986 $5,674 4.84%
    $600k-1MM 36 $25,550,000 $709,722 $6,537 4.76%
    $100k-200k 29 $4,135,000 $142,586 $2,895 5.21%
    $1MM+ 24 $90,500,000 $3,770,833 $9,959 6.44%
    $100,000 or less 10 $760,000 $76,000 $1,503 6.00%

    2023 saw Peapack-gladstone Bank place emphasis on $200k-400k loans with 92 originations, totaling $28,080,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 70 $33,200,000 $474,286 $5,189 4.75%
    $75k-100k 59 $21,915,000 $371,441 $5,016 4.67%
    $50k-75k 39 $8,835,000 $226,538 $3,812 4.77%
    $250k+ 29 $20,395,000 $703,276 $6,902 5.98%
    $150k-250k 23 $10,205,000 $443,696 $5,783 6.05%
    $50k or less 9 $1,095,000 $121,667 $3,466 5.17%

    Peapack-gladstone Bank lent most frequently to those with incomes in the $100k-150k range, with 70 originations. The second most popular income band? $75k-100k, with 59 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 29 $10,905,000 $376,034 $4,600 5.49%
    30-36% 27 $10,855,000 $402,037 $4,961 5.14%
    <20% 17 $9,165,000 $539,118 $5,822 6.28%
    47% 16 $6,440,000 $402,500 $4,671 4.83%
    46% 16 $7,300,000 $456,250 $5,369 4.88%
    45% 16 $7,190,000 $449,375 $5,281 4.79%
    42% 15 $7,075,000 $471,667 $4,905 4.42%
    44% 14 $4,820,000 $344,286 $4,431 5.20%
    43% 14 $4,610,000 $329,286 $5,092 5.26%
    41% 13 $6,085,000 $468,077 $5,136 5.06%
    38% 12 $8,150,000 $679,167 $6,148 5.13%
    40% 11 $4,805,000 $436,818 $5,547 4.94%
    48% 10 $3,700,000 $370,000 $5,031 5.41%
    49% 10 $4,160,000 $416,000 $5,149 4.98%
    37% 9 $3,075,000 $341,667 $4,097 4.76%
    39% 8 $3,000,000 $375,000 $4,132 4.48%
    36% 7 $2,545,000 $363,571 $5,294 4.96%
    50-60% 2 $650,000 $325,000 $4,596 5.19%

    Peapack-gladstone Bank lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? 30-36%, with 27 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 30 $86,040,000 $2,868,000 $0 6.51%
    White 166 $71,990,000 $433,675 $5,111 5.05%
    Asian 29 $11,585,000 $399,483 $5,181 5.28%
    Black 12 $5,410,000 $450,833 $5,486 4.36%
    Not provided 19 $5,305,000 $279,211 $3,763 5.16%
    American Indian 6 $2,490,000 $415,000 $4,533 4.46%

    Approval Rates

    Total approvals of all applications
    95.96%

    Peapack-gladstone Bank 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
    84.35%

    Peapack-gladstone Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 262 $182,820,000 $697,786

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    262 $182,820,000 $697,786

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $8,550,000 $610,714 $2,631 6.06%
    40-60% 18 $19,860,000 $1,103,333 $4,438 5.76%
    60-80% 84 $89,640,000 $1,067,143 $5,666 5.68%
    80-100% 135 $62,805,000 $465,222 $5,335 4.69%
    Under 20% 11 $1,965,000 $178,636 $810 6.01%