Continental Mortgage Bankers Rates, Fees & Info

New York, NY

LEI: 254900ZPR9P3OI95VG04

Tax ID: 13-3442065

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
  • Similar Lenders
  • 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

    Continental Mortgage Bankers is a smaller bank specializing in Home Purchase loans. Continental Mortgage Bankers has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: New York, Bridgeport, New Haven, Poughkeepsie, and Allentown among others. We have data for 6 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 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
    30 Year Conventional Purchase 6.55% 4/28/24
    30 Year Conventional Refi 6.62% 4/28/24
    30 Year FHA Purchase 7.10% 4/28/24
    30 Year FHA Refi 6.91% 4/28/24
    30 Year VA Purchase 6.07% 4/28/24
    30 Year VA Refi 5.93% 4/28/24
    15 Year Conventional Purchase 6.05% 4/28/24
    15 Year Conventional Refi 6.17% 4/28/24
    15 Year Cash-out Refi 6.17% 4/28/24
    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

    295

    Origination Dollar Volume (All Markets)

    $107,795,000

    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) 278 $103,180,000 $371,151 $9,970 4.82%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 9 $2,635,000 $292,778 $9,898 4.61%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 4 $890,000 $222,500 $9,018 4.75%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 2 $560,000 $280,000 $8,599 4.75%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $305,000 $305,000 $10,202 3.88%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $225,000 $225,000 $2,625 4.88%
    Continental Mortgage Bankers's top markets include New York, Bridgeport, New Haven, Poughkeepsie, and Allentown among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Connecticut (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.

    N C P D Federal Credit Union
    Similarity Rank: 55
    Bogota Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 80
    MUTUAL SECURITY CREDIT UNION
    Similarity Rank: 96
    Union Savings Bank
    Similarity Rank: 108
    Freehold Savings Bank
    Similarity Rank: 120
    The Atlantic Federal Credit Union
    Similarity Rank: 120
    Blue Foundry Bank
    Similarity Rank: 125
    SIKORSKY FINANCIAL
    Similarity Rank: 130

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 201 $73,355,000 $364,950 $8,256 4.89%
    FHA 88 $32,380,000 $367,955 $13,740 4.66%
    VA 5 $1,595,000 $319,000 $9,435 4.35%
    VA 1 $465,000 $465,000 $0 0.00%

    For 2018, Continental Mortgage Bankers's most frequently originated type of loan was Conventional, with 201 originations. Their 2nd most popular type was FHA, with 88 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 259 $92,035,000 $355,347 $9,532 4.79%
    Refi 28 $11,820,000 $422,143 $12,103 5.07%
    Cash Out Refi 6 $3,020,000 $503,333 $17,723 4.67%
    Home Improvement 2 $920,000 $460,000 $11,325 4.69%

    For 2018, Continental Mortgage Bankers's most frequently cited loan purpose was Home Purchase, with 259 originations. The 2nd most popular reason was Refi, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 282 $102,770,000 $364,433 $9,906 4.85%
    15 Year 12 $4,560,000 $380,000 $10,300 3.96%
    Other 1 $465,000 $465,000 $0 0.00%

    For 2018, Continental Mortgage Bankers's most frequently cited loan duration was 30 Year, with 282 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 101 $46,605,000 $461,436
    $1k-2k 78 $26,360,000 $337,949
    $4k-5k 40 $13,370,000 $334,250
    $3k-4k 39 $10,075,000 $258,333
    $<1k 25 $8,015,000 $320,600
    $2k-3k 7 $1,505,000 $215,000

    Continental Mortgage Bankers's average total fees were $9,906, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 101 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 222 $81,130,000 $365,450
    5-6% 55 $20,245,000 $368,091
    3-4% 12 $4,200,000 $350,000
    6-7% 2 $510,000 $255,000
    Over 8% 2 $970,000 $485,000
    7-8% 1 $275,000 $275,000

    During 2018, Continental Mortgage Bankers's average interest rate for loans was 4.85%, while their most frequently originated rate bucket for loans was 4-5%, with 222 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 153 $46,345,000 $302,908 $8,634 4.82%
    $400k-600k 88 $41,050,000 $466,477 $12,124 4.81%
    $100k-200k 33 $5,495,000 $166,515 $6,208 4.79%
    $600k-1MM 19 $13,825,000 $727,632 $15,794 4.72%
    $100,000 or less 1 $75,000 $75,000 $4,520 5.25%
    $1MM+ 1 $1,005,000 $1,005,000 $33,705 5.50%

    2018 saw Continental Mortgage Bankers place emphasis on $200k-400k loans with 153 originations, totaling $46,345,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 105 $39,605,000 $377,190 $10,133 4.75%
    $150k-250k 61 $27,205,000 $445,984 $10,184 4.68%
    $75k-100k 60 $18,760,000 $312,667 $9,641 4.77%
    $50k-75k 40 $9,060,000 $226,500 $7,601 4.89%
    $250k+ 16 $9,340,000 $583,750 $13,817 4.87%
    $50k or less 13 $3,825,000 $294,231 $10,691 5.74%

    Continental Mortgage Bankers lent most frequently to those with incomes in the $100k-150k range, with 105 originations. The second most popular income band? $150k-250k, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 46 $14,510,000 $315,435 $6,937 4.78%
    30-36% 40 $15,290,000 $382,250 $10,666 4.80%
    50-60% 35 $13,795,000 $394,143 $13,645 4.63%
    43% 21 $7,335,000 $349,286 $9,313 4.88%
    39% 17 $6,305,000 $370,882 $10,387 4.72%
    46% 14 $4,150,000 $296,429 $9,279 4.69%
    44% 13 $4,235,000 $325,769 $8,741 4.86%
    40% 13 $5,365,000 $412,692 $11,410 4.83%
    49% 12 $4,060,000 $338,333 $9,759 4.86%
    41% 12 $4,510,000 $375,833 $9,905 4.61%
    48% 12 $5,110,000 $425,833 $10,330 4.70%
    47% 11 $4,345,000 $395,000 $9,746 4.84%
    38% 10 $3,970,000 $397,000 $8,847 4.89%
    37% 10 $3,490,000 $349,000 $8,723 4.86%
    45% 8 $3,050,000 $381,250 $8,693 4.84%
    36% 7 $2,955,000 $422,143 $9,862 4.86%
    42% 6 $2,350,000 $391,667 $11,186 4.67%
    <20% 2 $730,000 $365,000 $9,732 4.69%
    >60% 2 $530,000 $265,000 $7,290 4.88%
    Exempt% 1 $465,000 $465,000 $0 0.00%

    Continental Mortgage Bankers lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 241 $86,285,000 $358,029 $9,459 4.78%
    Black 40 $16,120,000 $403,000 $12,476 4.74%
    Asian 5 $1,845,000 $369,000 $9,883 5.13%
    Not provided 4 $1,470,000 $367,500 $9,563 6.05%
    Asian Indian 2 $950,000 $475,000 $9,776 4.88%
    Native Hawaiian or Islander 2 $910,000 $455,000 $13,843 5.00%
    Other Asian 1 $215,000 $215,000 $9,123 6.75%

    Approval Rates

    Total approvals of all applications
    92.63%

    Continental Mortgage Bankers has an average approval rate.

    Pick Rate

    Approvals leading to origination
    63.73%

    Continental Mortgage Bankers has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 1 $465,000 $465,000
    NA 294 $107,330,000 $365,068

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 295 $107,795,000 $365,407

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $3,220,000 $322,000 $11,941 4.68%
    40-60% 15 $6,165,000 $411,000 $9,437 5.10%
    60-80% 76 $25,750,000 $338,816 $8,411 5.01%
    80-100% 176 $65,480,000 $372,045 $10,438 4.73%
    Over 100% 1 $355,000 $355,000 $10,197 4.50%