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, 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 a low 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.
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Originations
262Origination Dollar Volume (All Markets)
$182,820,000Awards
Peapack-Gladstone Bank - 2023
Peapack-Gladstone Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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
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
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
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
2023 saw Peapack-gladstone Bank place emphasis on $200k-400k loans with 92 originations, totaling $28,080,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications95.96%
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 origination84.35%
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 |