Peapack-gladstone Bank Mortgage Rates, Fees & Info
Bedminster, NJLEI: 549300FZJCP0WM3QJH15
Tax ID: 22-2491488
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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, Philadelphia, Miami, North Port, and Nashville among others. We have data for 32 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 an above 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.29% | 9/18/23 |
| 30 Year Conventional Refi | 5.64% | 9/18/23 |
| 30 Year Cash-out Refi | 5.74% | 9/18/23 |
| 15 Year Conventional Purchase | 5.56% | 9/18/23 |
| 15 Year Conventional Refi | 5.79% | 9/18/23 |
| 15 Year Cash-out Refi | 5.79% | 9/18/23 |
| 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. | ||
Peapack-gladstone Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Peapack-gladstone Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
448Origination Dollar Volume (All Markets)
$652,490,000Awards
Peapack-Gladstone Bank - 2022
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For 2022, less than of lenders were eligible for this award.
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Relative Rate
Peapack-gladstone Bank's average 30 year fixed mortgage rate was
3.85%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.91%.
Relative Fees (Closing Costs)
Peapack-gladstone Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,938.
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) | 380 | $597,270,000 | $1,571,763 | $4,687 | 3.60% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 8 | $34,670,000 | $4,333,750 | $3,687 | 3.96% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 8 | $2,960,000 | $370,000 | $4,399 | 3.85% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 10 | $2,490,000 | $249,000 | $4,472 | 4.33% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $1,605,000 | $1,605,000 | $8,706 | 5.63% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 6 | $1,550,000 | $258,333 | $3,757 | 4.01% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $7,357 | 3.13% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $1,105,000 | $1,105,000 | $6,458 | 2.63% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $965,000 | $965,000 | $3,177 | 5.13% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $3,546 | 4.19% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $3,343 | 4.69% |
| Jackson, WY-ID (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $7,813 | 2.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $3,256 | 5.15% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $0 | 3.13% |
| ROCHESTER, NY (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $4,245 | 4.13% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $2,908 | 5.13% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,598 | 3.50% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,268 | 2.63% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $0 | 5.44% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,718 | 2.63% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,911 | 5.50% |
| GLENS FALLS, NY (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,975 | 6.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 6.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,843 | 2.50% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,056 | 6.25% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 2.95% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,717 | 6.50% |
| Cullman, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 2.95% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,078 | 3.13% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 5.50% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 5.50% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,376 | 3.63% |
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 | 448 | $652,490,000 | $1,456,451 | $4,620 | 3.69% |
For 2022, Peapack-gladstone Bank's most frequently originated type of loan was Conventional, with 448 originations.
Loan Reason
For 2022, Peapack-gladstone Bank's most frequently cited loan purpose was Home Purchase, with 231 originations. The 2nd most popular reason was Refi, with 96 originations.
Loan Duration/Length
For 2022, Peapack-gladstone Bank's most frequently cited loan duration was 30 Year, with 294 originations. The 2nd most popular length was 10 Year, with 73 originations.
Origination Fees/Closing Costs
Peapack-gladstone Bank's average total fees were $4,938, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 276 originations.
Interest Rates
During 2022, Peapack-gladstone Bank's average interest rate for loans was 3.85%, while their most frequently originated rate bucket for loans was 3-4%, with 186 originations.
Loan Sizing
2022 saw Peapack-gladstone Bank place emphasis on $200k-400k loans with 140 originations, totaling $42,270,000 in origination value.
Applicant Income
Peapack-gladstone Bank lent most frequently to those with incomes in the $150k-250k range, with 57 originations. The second most popular income band? $75k-100k, with 57 originations.
Applicant Debt to Income Ratio
Peapack-gladstone Bank lent most frequently to those with DTI ratios of 30-36%, with 75 originations. The next most common DTI ratio? 20-30%, with 74 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.78%
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 origination90.40%
Peapack-gladstone Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 448 | $652,490,000 | $1,456,451 |