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 and Refi 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 Denver among others. We have data for 69 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% | 4/18/24 |
| 30 Year Conventional Refi | 6.40% | 4/18/24 |
| 30 Year Cash-out Refi | 6.79% | 4/18/24 |
| 30 Year FHA Purchase | 7.47% | 4/18/24 |
| 30 Year FHA Refi | 6.59% | 4/18/24 |
| 30 Year VA Purchase | 6.42% | 4/18/24 |
| 30 Year VA Refi | 5.89% | 4/18/24 |
| 30 Year USDA Purchase | 6.82% | 4/18/24 |
| 30 Year USDA Refi | 6.27% | 4/18/24 |
| 15 Year Conventional Purchase | 6.39% | 4/18/24 |
| 15 Year Conventional Refi | 6.15% | 4/18/24 |
| 15 Year Cash-out Refi | 6.15% | 4/18/24 |
| 15 Year FHA Refi | 5.68% | 4/18/24 |
| 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
1,469Origination Dollar Volume (All Markets)
$367,545,000Awards
Princeton Mortgage Corporation - 2019
Princeton Mortgage Corporation is a 2019 , due to their low .
For 2019, 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) | 288 | $103,310,000 | $358,715 | $6,432 | 3.88% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 336 | $84,180,000 | $250,536 | $6,369 | 4.01% |
| PITTSBURGH, PA (FHA|USDA|VA) | 420 | $73,570,000 | $175,167 | $5,511 | 4.10% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 88 | $21,190,000 | $240,795 | $5,036 | 4.16% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 51 | $17,805,000 | $349,118 | $2,895 | 3.71% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 40 | $11,190,000 | $279,750 | $4,986 | 4.19% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 13 | $6,025,000 | $463,462 | $5,623 | 3.91% |
| ERIE, PA (FHA|USDA|VA) | 49 | $5,885,000 | $120,102 | $4,199 | 4.21% |
| READING, PA (FHA|USDA|VA) | 26 | $4,990,000 | $191,923 | $6,699 | 4.07% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 14 | $3,940,000 | $281,429 | $3,759 | 4.05% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 12 | $2,430,000 | $202,500 | $5,303 | 4.20% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 10 | $2,210,000 | $221,000 | $4,314 | 3.97% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 5 | $1,865,000 | $373,000 | $3,855 | 3.70% |
| BOULDER, CO (FHA|USDA|VA) | 4 | $1,800,000 | $450,000 | $2,552 | 3.53% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 7 | $1,775,000 | $253,571 | $4,954 | 4.46% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 10 | $1,670,000 | $167,000 | $3,575 | 4.07% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 7 | $1,565,000 | $223,571 | $3,464 | 4.14% |
| Edwards, CO (FHA|USDA|VA) | 4 | $1,560,000 | $390,000 | $1,967 | 3.69% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $2,842 | 3.71% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $4,430 | 4.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $1,010,000 | $505,000 | $12,080 | 3.63% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $4,953 | 3.88% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $2,045 | 3.81% |
| Breckenridge, CO (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $3,631 | 3.81% |
| Somerset, PA (FHA|USDA|VA) | 4 | $770,000 | $192,500 | $7,202 | 3.75% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $8,375 | 4.38% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $8,432 | 3.75% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 4 | $690,000 | $172,500 | $5,212 | 3.78% |
| GREELEY, CO (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $3,000 | 3.56% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $4,233 | 3.75% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $5,732 | 4.06% |
| Outside of Metro Areas | 3 | $535,000 | $178,333 | $3,404 | 4.08% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $4,639 | 4.00% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $11,223 | 3.94% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $8,710 | 3.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $2,484 | 4.56% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $6,943 | 4.75% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $2,765 | 3.75% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $9,590 | 3.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,551 | 3.63% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,525 | 3.88% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $5,564 | 4.25% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,946 | 4.00% |
| Durango, CO (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $1,909 | 4.38% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,781 | 3.75% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,008 | 4.38% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $4,599 | 4.75% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $5,077 | 4.38% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $4,173 | 4.06% |
| Meadville, PA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,490 | 3.88% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $1,371 | 3.63% |
| DOVER, DE (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,322 | 3.50% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,186 | 3.75% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,834 | 3.25% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,316 | 3.63% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,245 | 4.50% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,109 | 3.63% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,649 | 4.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,528 | 3.63% |
| New Castle, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,728 | 4.63% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,616 | 4.38% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,894 | 5.50% |
| Indiana, PA (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $3,745 | 4.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,246 | 5.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,553 | 3.25% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,210 | 4.88% |
| Warren, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,696 | 4.50% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,203 | 3.88% |
| OCALA, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,600 | 4.25% |
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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 2019, Princeton Mortgage Corporation's most frequently originated type of loan was Conventional, with 1,108 originations. Their 2nd most popular type was FHA, with 283 originations.
Loan Reason
For 2019, Princeton Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 955 originations. The 2nd most popular reason was Refi, with 360 originations.
Loan Duration/Length
For 2019, Princeton Mortgage Corporation's most frequently cited loan duration was 30 Year, with 1,244 originations. The 2nd most popular length was 15 Year, with 157 originations.
Origination Fees/Closing Costs
Princeton Mortgage Corporation's average total fees were $5,675, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 705 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 819 | $227,245,000 | $277,466 |
| 4-5% | 545 | $116,425,000 | $213,624 |
| 5-6% | 59 | $9,765,000 | $165,508 |
| 2.5-3% | 44 | $13,710,000 | $311,591 |
| 6-7% | 2 | $400,000 | $200,000 |
During 2019, Princeton Mortgage Corporation's average interest rate for loans was 4.11%, while their most frequently originated rate bucket for loans was 3-4%, with 819 originations.
Loan Sizing
2019 saw Princeton Mortgage Corporation place emphasis on $200k-400k loans with 635 originations, totaling $183,675,000 in origination value.
Applicant Income
Princeton Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 327 originations. The second most popular income band? $50k-75k, with 297 originations.
Applicant Debt to Income Ratio
Princeton Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 295 originations. The next most common DTI ratio? 30-36%, with 256 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.77%
Princeton Mortgage Corporation has an average approval rate.
Pick Rate
Approvals leading to origination75.77%
Princeton Mortgage Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,469 | $367,545,000 | $250,201 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $270,000 | $135,000 |
| Single Family (1-4 Units):Site-Built | 1,467 | $367,275,000 | $250,358 |