Pinnacle Mortgage Rates, Fees & Info
Edison, NJLEI: 549300YYDSCELMBQD390
Tax ID: 22-6057338
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Pinnacle is a smaller mortgage company specializing in Home Improvement and Refi loans. Pinnacle has a high proportion of conventional loans. Their top markets by origination volume include: New York, Pittsburgh, Trenton, and Philadelphia among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Pinnacle 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. Pinnacle is typically a high 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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Purchase | 5.68% | 12/16/24 |
| 15 Year Conventional Refi | 5.98% | 12/16/24 |
| 15 Year Cash-out Refi | 5.98% | 12/16/24 |
| 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. | ||
Pinnacle Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Pinnacle. 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
45Origination Dollar Volume (All Markets)
$5,685,000Top 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) | 42 | $5,440,000 | $129,524 | $15,992 | 4.64% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $22,562 | 4.75% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 5.69% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 4.69% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 45 | $5,685,000 | $126,333 | $16,649 | 4.67% |
For 2018, Pinnacle's most frequently originated type of loan was Conventional, with 45 originations.
Loan Reason
For 2018, Pinnacle's most frequently cited loan purpose was Home Improvement, with 29 originations. The 2nd most popular reason was Home Purchase, with 8 originations.
Loan Duration/Length
For 2018, Pinnacle's most frequently cited loan duration was 10 Year, with 12 originations. The 2nd most popular length was 15 Year, with 12 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 30 | $4,200,000 | $140,000 |
| 5-6% | 7 | $905,000 | $129,286 |
| 3-4% | 5 | $415,000 | $83,000 |
| <2.5% | 1 | $15,000 | $15,000 |
| 6-7% | 1 | $45,000 | $45,000 |
| 7-8% | 1 | $105,000 | $105,000 |
During 2018, Pinnacle's average interest rate for loans was 4.86%, while their most frequently originated rate bucket for loans was 4-5%, with 30 originations.
Loan Sizing
2018 saw Pinnacle place emphasis on $100,000 or less loans with 33 originations, totaling $1,475,000 in origination value.
Applicant Income
Pinnacle lent most frequently to those with incomes in the $100k-150k range, with 11 originations. The second most popular income band? $150k-250k, with 10 originations.
Applicant Debt to Income Ratio
Pinnacle lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? <20%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.38%
Pinnacle has an average approval rate.
Pick Rate
Approvals leading to origination97.78%
Pinnacle has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 45 | $5,685,000 | $126,333 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 45 | $5,685,000 | $126,333 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PINNACLE FINANCIAL PARTNERS, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| PINNACLE FINANCIAL PARTNERS, INC. | Conventional home mortgage | Struggling to pay mortgage | 1 | 33.3% |
| PINNACLE FINANCIAL PARTNERS, INC. | Other type of mortgage | Trouble during payment process | 1 | 33.3% |