Continental Mortgage Bankers Rates, Fees & Info

New York, NY

LEI: 254900ZPR9P3OI95VG04

Tax ID: 13-3442065

1 stars - Updated: 12/6/24 - out of 5 stars, based on 13 reviews

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

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Mortgage Data

Review & Overview

Continental Mortgage Bankers is a smaller bank specializing in Home Purchase loans. Continental Mortgage Bankers has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: New York, Bridgeport, Torrington, Poughkeepsie, and Hudson among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Continental Mortgage Bankers 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. Continental Mortgage Bankers 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 relatively high 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
30 Year Conventional Purchase 6.55% 12/6/24
30 Year Conventional Refi 6.62% 12/6/24
30 Year FHA Purchase 7.10% 12/6/24
30 Year FHA Refi 6.91% 12/6/24
30 Year VA Purchase 6.07% 12/6/24
30 Year VA Refi 5.93% 12/6/24
15 Year Conventional Purchase 6.05% 12/6/24
15 Year Conventional Refi 6.17% 12/6/24
15 Year Cash-out Refi 6.17% 12/6/24
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.

Continental Mortgage Bankers Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Continental Mortgage Bankers. 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

173

Origination Dollar Volume (All Markets)

$80,395,000

Relative Rate

Continental Mortgage Bankers's average 30 year fixed mortgage rate was 6.7%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.22%.

Relative Fees (Closing Costs)

Continental Mortgage Bankers's average total fees/closing costs for a 30 year fixed rate mortgage were $15,243.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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) 150 $72,340,000 $482,267 $15,652 6.70%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 6 $2,770,000 $461,667 $15,285 6.44%
Torrington, CT (FHA|USDA|VA) 5 $1,605,000 $321,000 $14,710 6.38%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 4 $1,180,000 $295,000 $8,683 6.75%
Hudson, NY (FHA|USDA|VA) 1 $565,000 $565,000 $10,780 6.88%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $440,000 $220,000 $11,435 7.13%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $395,000 $395,000 $15,950 6.38%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $375,000 $375,000 $11,379 7.63%
Gloversville, NY (FHA|USDA|VA) 1 $245,000 $245,000 $6,706 7.25%
OCALA, FL (FHA|USDA|VA) 1 $245,000 $245,000 $10,091 7.13%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $235,000 $235,000 $11,975 6.88%
Continental Mortgage Bankers's top markets include New York, Bridgeport, Torrington, Poughkeepsie, and Hudson among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against CONTINENTAL MORTGAGE BANKERS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SIKORSKY FINANCIAL
    Similarity Rank: 35
    Thomaston Savings Bank
    Similarity Rank: 42
    Union Savings Bank
    Similarity Rank: 84
    N C P D Federal Credit Union
    Similarity Rank: 126
    Columbia Bank
    Similarity Rank: 156
    Newtown Savings Bank
    Similarity Rank: 168
    GREATER ALLIANCE
    Similarity Rank: 168
    Blue Foundry Bank
    Similarity Rank: 188
    Savings Bank of Danbury
    Similarity Rank: 196

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 124 $55,360,000 $446,452 $11,802 6.82%
    FHA 46 $23,900,000 $519,565 $24,427 6.36%
    VA 2 $830,000 $415,000 $17,343 6.38%
    HELOC 1 $305,000 $305,000 n/a 7.50%

    For 2023, Continental Mortgage Bankers's most frequently originated type of loan was Conventional, with 124 originations. Their 2nd most popular type was FHA, with 46 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 155 $72,975,000 $470,806 $14,681 6.74%
    Refi 16 $6,470,000 $404,375 $20,118 6.32%
    Cash Out Refi 2 $950,000 $475,000 $19,523 6.44%

    For 2023, Continental Mortgage Bankers's most frequently cited loan purpose was Home Purchase, with 155 originations. The 2nd most popular reason was Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 173 $80,395,000 $464,711 $15,243 6.70%

    For 2023, Continental Mortgage Bankers's most frequently cited loan duration was 30 Year, with 173 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 135 $68,135,000 $504,704
    $4k-5k 14 $4,040,000 $288,571
    $3k-4k 13 $3,885,000 $298,846
    $1k-2k 7 $3,265,000 $466,429
    $2k-3k 2 $210,000 $105,000
    $<1k 1 $555,000 $555,000

    Continental Mortgage Bankers's average total fees were $15,243, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 135 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 104 $49,820,000 $479,038
    7-8% 50 $21,760,000 $435,200
    5-6% 18 $8,340,000 $463,333
    4-5% 1 $475,000 $475,000

    During 2023, Continental Mortgage Bankers's average interest rate for loans was 6.70%, while their most frequently originated rate bucket for loans was 6-7%, with 104 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 73 $37,155,000 $508,973 $17,155 6.63%
    $200k-400k 53 $16,715,000 $315,377 $11,591 6.80%
    $600k-1MM 36 $24,890,000 $691,389 $19,331 6.70%
    $100k-200k 10 $1,550,000 $155,000 $6,608 6.79%
    $100,000 or less 1 $85,000 $85,000 $4,751 5.63%

    2023 saw Continental Mortgage Bankers place emphasis on $400k-600k loans with 73 originations, totaling $37,155,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 68 $38,240,000 $562,353 $17,622 6.76%
    $100k-150k 52 $21,920,000 $421,538 $16,093 6.66%
    $75k-100k 23 $7,545,000 $328,043 $12,023 6.70%
    $250k+ 19 $10,665,000 $561,316 $12,908 6.67%
    $50k-75k 11 $2,025,000 $184,091 $7,504 6.56%

    Continental Mortgage Bankers lent most frequently to those with incomes in the $150k-250k range, with 68 originations. The second most popular income band? $100k-150k, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 25 $10,545,000 $421,800 $12,429 6.89%
    50-60% 24 $12,460,000 $519,167 $22,220 6.43%
    20-30% 18 $8,310,000 $461,667 $12,357 6.64%
    49% 12 $6,580,000 $548,333 $15,583 6.66%
    44% 11 $5,125,000 $465,909 $14,823 6.64%
    48% 11 $4,635,000 $421,364 $15,002 6.69%
    36% 10 $4,190,000 $419,000 $11,558 6.81%
    47% 10 $4,450,000 $445,000 $18,916 6.66%
    39% 9 $4,325,000 $480,556 $15,064 6.96%
    41% 7 $2,455,000 $350,714 $12,384 7.03%
    42% 6 $2,280,000 $380,000 $11,290 6.71%
    40% 6 $3,380,000 $563,333 $19,392 7.02%
    43% 6 $2,360,000 $393,333 $15,128 6.58%
    46% 5 $2,945,000 $589,000 $19,714 6.40%
    45% 5 $2,425,000 $485,000 $12,176 6.90%
    38% 5 $2,115,000 $423,000 $12,441 6.43%
    37% 2 $1,260,000 $630,000 $9,542 6.50%
    <20% 1 $555,000 $555,000 $10,050 6.50%

    Continental Mortgage Bankers lent most frequently to those with DTI ratios of 30-36%, with 25 originations. The next most common DTI ratio? 50-60%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 117 $53,435,000 $456,709 $13,736 6.75%
    Black 44 $21,070,000 $478,864 $19,054 6.56%
    Asian 9 $4,635,000 $515,000 $16,390 6.74%
    Native Hawaiian or Islander 1 $725,000 $725,000 $19,419 6.25%
    Not provided 2 $530,000 $265,000 $14,210 6.69%

    Approval Rates

    Total approvals of all applications
    92.07%

    Continental Mortgage Bankers has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.19%

    Continental Mortgage Bankers has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 173 $80,395,000 $464,711

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    173 $80,395,000 $464,711

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,660,000 $207,500 $8,081 6.97%
    40-60% 14 $5,750,000 $410,714 $14,472 6.51%
    60-80% 58 $24,750,000 $426,724 $13,863 6.80%
    80-100% 92 $48,080,000 $522,609 $16,869 6.65%
    Under 20% 1 $155,000 $155,000 $6,654 6.25%