Pinnacle Mortgage Rates, Fees & Info

Edison, NJ

LEI: 549300YYDSCELMBQD390

Tax ID: 22-6057338

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Pinnacle is a smaller mortgage company specializing in Other, Home Improvement, and Home Purchase loans. Pinnacle has a high proportion of conventional loans. Their top two markets are New York and Philadelphia .

    Pinnacle has an 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

    40

    Origination Dollar Volume (All Markets)

    $2,940,000

    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) 37 $2,855,000 $77,162 $1,308 4.56%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $85,000 $28,333 $444 4.86%
    Pinnacle's top markets include New York and Philadelphia among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 40 $2,940,000 $73,500 $1,243 4.59%

    For 2019, Pinnacle's most frequently originated type of loan was Conventional, with 40 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 17 $985,000 $57,941 $451 4.81%
    Home Improvement 16 $600,000 $37,500 $436 4.53%
    Refi 4 $410,000 $102,500 $493 4.93%
    Home Purchase 3 $945,000 $315,000 $11,041 3.18%

    For 2019, Pinnacle's most frequently cited loan purpose was Other, with 17 originations. The 2nd most popular reason was Home Improvement, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 13 $595,000 $45,769 $438 4.54%
    5 Year 10 $270,000 $27,000 $446 4.26%
    15 Year 9 $895,000 $99,444 $1,657 4.69%
    20 Year 6 $420,000 $70,000 $477 5.47%
    30 Year 2 $760,000 $380,000 $10,906 3.37%

    For 2019, Pinnacle's most frequently cited loan duration was 10 Year, with 13 originations. The 2nd most popular length was 5 Year, with 10 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 31 $1,735,000 $55,968
    5-6% 4 $180,000 $45,000
    3-4% 3 $775,000 $258,333
    2.5-3% 1 $185,000 $185,000
    6-7% 1 $65,000 $65,000

    During 2019, Pinnacle's average interest rate for loans was 3.37%, while their most frequently originated rate bucket for loans was 4-5%, with 31 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 33 $1,345,000 $40,758 $438 4.67%
    $100k-200k 4 $580,000 $145,000 $3,257 4.51%
    $200k-400k 3 $1,015,000 $338,333 $7,419 3.78%

    2019 saw Pinnacle place emphasis on $100,000 or less loans with 33 originations, totaling $1,345,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 12 $1,070,000 $89,167 $2,291 4.31%
    $50k-75k 8 $280,000 $35,000 $464 4.61%
    $75k-100k 8 $850,000 $106,250 $1,663 4.60%
    $100k-150k 6 $510,000 $85,000 $422 4.45%
    $50k or less 6 $230,000 $38,333 $447 5.23%

    Pinnacle lent most frequently to those with incomes in the $150k-250k range, with 12 originations. The second most popular income band? $50k-75k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 9 $725,000 $80,556 $1,669 4.57%
    30-36% 7 $355,000 $50,714 $430 4.92%
    <20% 4 $180,000 $45,000 $436 4.38%
    47% 4 $150,000 $37,500 $437 4.78%
    41% 3 $225,000 $75,000 $441 4.48%
    50-60% 2 $380,000 $190,000 $6,121 3.76%
    36% 2 $80,000 $40,000 $434 4.42%
    37% 2 $60,000 $30,000 $444 4.97%
    38% 2 $580,000 $290,000 $5,331 4.13%
    45% 2 $60,000 $30,000 $454 4.42%
    39% 1 $25,000 $25,000 $431 4.99%
    43% 1 $65,000 $65,000 $444 4.75%
    44% 1 $55,000 $55,000 $444 4.59%

    Pinnacle lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? 30-36%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 28 $2,170,000 $77,500 $1,587 4.59%
    Asian 2 $340,000 $170,000 $434 4.59%
    Not provided 6 $290,000 $48,333 $444 4.46%
    Black 3 $115,000 $38,333 $437 4.71%
    American Indian 1 $25,000 $25,000 $444 4.69%

    Approval Rates

    Total approvals of all applications
    80.00%

    Pinnacle has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    90.00%

    Pinnacle has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 40 $2,940,000 $73,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 40 $2,940,000 $73,500

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $320,000 $80,000 $437 5.33%
    40-60% 1 $185,000 $185,000 $11,310 2.79%
    60-80% 5 $1,305,000 $261,000 $4,706 4.36%
    Under 20% 28 $1,040,000 $37,143 $438 4.57%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Pinnacle Finance LLC Other type of mortgage Trouble during payment process 1 100.0%