Pinnacle FCU Mortgage Lending & HMDA Data, 2024
In 2024, Pinnacle FCU of Parlin, NJ reported 80 mortgage applications totaling $6.0 million, up 31% from 2023. The average application was for $75,500, and applicants reported an average income of $116,362. 52% of its applications resulted in an originated loan and 35% were denied. Its largest markets were Lakewood-New Brunswick, NJ (42), Newark, NJ-PA (15) and New York-Jersey City-White Plains, NY-NJ (6) (applications in parentheses).
| Mortgage Company & Address | Pinnacle FCU Parlin, NJ 08859 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2024 2023 2022 |
| Total Number of Mortgage Applications | 80 |
| Total Mortgage Loan Application Amount | $6,040,000 |
| Average Mortgage Loan Application Amount | $75,500 |
| Highest Mortgage Loan Application Amount | $255,000 |
| Average Applicant Income | $116,362 |
| Highest Applicant Income | $429,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Pinnacle FCU filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Lakewood-New Brunswick, NJ | 42 | $ 3,320,000 | $ 79,047 | $ 97,000 |
| Newark, NJ-PA | 15 | $ 1,275,000 | $ 85,000 | $ 195,000 |
| New York-Jersey City-White Plains, NY-NJ | 6 | $ 620,000 | $ 103,333 | $ 117,000 |
| Nassau County-Suffolk County, NY | 2 | $ 140,000 | $ 70,000 | $ 113,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 1 | $ 25,000 | $ 25,000 | $ 100,000 |
| Atlanta-Sandy Springs-Roswell, GA | 1 | $ 55,000 | $ 55,000 | $ 41,000 |
| Atlantic City-Hammonton, NJ | 1 | $ 25,000 | $ 25,000 | $ 25,000 |
| Camden, NJ | 1 | $ 65,000 | $ 65,000 | $ 101,000 |
| Durham-Chapel Hill, NC | 1 | $ 45,000 | $ 45,000 | $ 220,000 |
| Greenville-Anderson-Mauldin, SC | 1 | $ 45,000 | $ 45,000 | $ 63,000 |
| Johnstown, PA | 1 | $ 55,000 | $ 55,000 | $ 60,000 |
| Memphis, TN-MS-AR | 1 | $ 25,000 | $ 25,000 | $ 55,000 |
| Montgomery County-Bucks County-Chester County, PA | 1 | $ 85,000 | $ 85,000 | $ 429,000 |
| Outside any metro area | 1 | $ 55,000 | $ 55,000 | $ 83,000 |
| Philadelphia, PA | 1 | $ 15,000 | $ 15,000 | $ 19,000 |
| Phoenix-Mesa-Scottsdale, AZ | 1 | $ 105,000 | $ 105,000 | $ 72,000 |
| Sioux City, IA-NE-SD | 1 | $ 15,000 | $ 15,000 | $ 48,000 |
| St. Petersburg-Clearwater-Largo, FL | 1 | $ 55,000 | $ 55,000 | $ 72,000 |
| Winston-Salem, NC | 1 | $ 15,000 | $ 15,000 | $ 38,000 |
Mortgage Loan Application Detail Totals for Pinnacle FCU in 2024
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Other Purpose | 39 | $2,495,000 | $63,000 | $255,000 | $95,000 | $351,000 |
| Home Improvement | 25 | $2,265,000 | $90,000 | $255,000 | $142,000 | $299,000 |
| Refinancing | 11 | $825,000 | $75,000 | $135,000 | $138,000 | $429,000 |
| Home Purchase | 4 | $410,000 | $102,000 | $155,000 | $79,000 | $131,000 |
| Cash-out Refinancing | 1 | $45,000 | $45,000 | $45,000 | $220,000 | $220,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 45 | $3,025,000 | $67,000 | $255,000 | $125,000 | $429,000 |
| Hispanic | 18 | $1,850,000 | $102,000 | $255,000 | $109,000 | $233,000 |
| Black or African American | 10 | $520,000 | $52,000 | $85,000 | $126,000 | $299,000 |
| Not Provided | 6 | $590,000 | $98,000 | $255,000 | $70,000 | $121,000 |
| Asian | 1 | $55,000 | $55,000 | $55,000 | $81,000 | $81,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 80 | $6,040,000 | $75,000 | $255,000 | $117,000 | $429,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 42 | $3,020,000 | $71,000 | $255,000 | $135,000 | $429,000 |
| Application Denied By Financial Institution | 28 | $2,130,000 | $76,000 | $255,000 | $92,000 | $299,000 |
| File Closed For Incompleteness | 6 | $720,000 | $120,000 | $255,000 | $104,000 | $216,000 |
| Application Withdrawn By Applicant | 4 | $170,000 | $42,000 | $85,000 | $112,000 | $144,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 52 | $3,910,000 | $75,000 | $255,000 | $130,000 | $429,000 |
| Debt-To-Income Ratio | 11 | $1,075,000 | $97,000 | $255,000 | $73,000 | $193,000 |
| Collateral | 8 | $360,000 | $45,000 | $75,000 | $115,000 | $299,000 |
| Other | 4 | $270,000 | $67,000 | $85,000 | $77,000 | $100,000 |
| Credit History | 3 | $215,000 | $71,000 | $105,000 | $58,000 | $72,000 |
| Employment History | 2 | $210,000 | $105,000 | $155,000 | $192,000 | $192,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Pinnacle FCU's 2024 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Pinnacle FCU's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in New Jersey, download the full spreadsheet
with aggregated HMDA statistics today.
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