Princeton Mortgage Corporation Rates, Fees & Info
Pennington, NJLEI: 549300QVGK8WC4HQ3C28
Tax ID: 22-2470496
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Mortgage Data
Review & Overview
Princeton Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. Princeton Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: New York, Philadelphia, Pittsburgh, Trenton, and Miami among others. We have data for 37 markets. (Some data included below & more in-depth data is available with an active subscription.)Princeton Mortgage Corporation 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. Princeton Mortgage Corporation 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 | 6.80% | 11/17/24 |
| 30 Year Conventional Refi | 6.40% | 11/17/24 |
| 30 Year Cash-out Refi | 6.79% | 11/17/24 |
| 30 Year FHA Purchase | 7.47% | 11/17/24 |
| 30 Year FHA Refi | 6.59% | 11/17/24 |
| 30 Year VA Purchase | 6.42% | 11/17/24 |
| 30 Year VA Refi | 5.89% | 11/17/24 |
| 30 Year USDA Purchase | 6.82% | 11/17/24 |
| 30 Year USDA Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 6.39% | 11/17/24 |
| 15 Year Conventional Refi | 6.15% | 11/17/24 |
| 15 Year Cash-out Refi | 6.15% | 11/17/24 |
| 15 Year FHA Refi | 5.68% | 11/17/24 |
| 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. | ||
Princeton Mortgage Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
548Origination Dollar Volume (All Markets)
$138,140,000Awards
Princeton Mortgage Corporation - 2018
Princeton Mortgage Corporation is a 2018 , due to their low .
For 2018, 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) | 178 | $56,910,000 | $319,719 | $6,925 | 4.57% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 125 | $31,405,000 | $251,240 | $6,623 | 4.66% |
| PITTSBURGH, PA (FHA|USDA|VA) | 86 | $12,590,000 | $146,395 | $5,110 | 4.78% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 41 | $10,225,000 | $249,390 | $6,038 | 4.70% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 29 | $7,765,000 | $267,759 | $6,593 | 4.80% |
| ERIE, PA (FHA|USDA|VA) | 23 | $2,825,000 | $122,826 | $4,397 | 4.97% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 5 | $2,665,000 | $533,000 | $10,393 | 4.48% |
| READING, PA (FHA|USDA|VA) | 10 | $2,060,000 | $206,000 | $6,015 | 4.90% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 5 | $1,285,000 | $257,000 | $5,606 | 4.55% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $7,493 | 4.75% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 5 | $1,195,000 | $239,000 | $5,858 | 5.40% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $4,311 | 4.54% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $6,122 | 4.44% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $7,288 | 4.58% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $6,717 | 5.04% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $4,843 | 4.56% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $5,023 | 5.19% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,390 | 4.38% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $5,014 | 4.88% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $7,071 | 4.88% |
| Torrington, CT (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $11,588 | 5.00% |
| Warren, PA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,272 | 5.13% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $11,070 | 4.88% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $13,096 | 3.75% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,189 | 4.99% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,895 | 4.63% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $3,928 | 4.88% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,380 | 4.38% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,018 | 5.13% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,227 | 4.13% |
| New Castle, PA (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $4,205 | 5.00% |
| OCALA, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,355 | 4.75% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,266 | 3.38% |
| Outside of Metro Areas | 1 | $115,000 | $115,000 | $4,436 | 5.25% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,400 | 4.50% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,258 | 4.25% |
| Meadville, PA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $5,631 | 4.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against Princeton Mortgage Corporation 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
For 2018, Princeton Mortgage Corporation's most frequently originated type of loan was Conventional, with 420 originations. Their 2nd most popular type was FHA, with 106 originations.
Loan Reason
For 2018, Princeton Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 445 originations. The 2nd most popular reason was Cash Out Refi, with 63 originations.
Loan Duration/Length
For 2018, Princeton Mortgage Corporation's most frequently cited loan duration was 30 Year, with 490 originations. The 2nd most popular length was 15 Year, with 44 originations.
Origination Fees/Closing Costs
Princeton Mortgage Corporation's average total fees were $6,323, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 261 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 381 | $99,335,000 | $260,722 |
| 5-6% | 108 | $22,360,000 | $207,037 |
| 3-4% | 55 | $15,915,000 | $289,364 |
| 6-7% | 4 | $530,000 | $132,500 |
During 2018, Princeton Mortgage Corporation's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was 4-5%, with 381 originations.
Loan Sizing
2018 saw Princeton Mortgage Corporation place emphasis on $200k-400k loans with 272 originations, totaling $77,520,000 in origination value.
Applicant Income
Princeton Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 126 originations. The second most popular income band? $50k-75k, with 121 originations.
Applicant Debt to Income Ratio
Princeton Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 209 originations. The next most common DTI ratio? <20%, with 136 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.36%
Princeton Mortgage Corporation has an average approval rate.
Pick Rate
Approvals leading to origination70.07%
Princeton Mortgage Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 548 | $138,140,000 | $252,080 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 548 | $138,140,000 | $252,080 |