City Mortgage Rates, Fees & Info

Dallas, TX

LEI: 549300D1LJKPCKRRHC31

Tax ID: 75-0692281

5 stars - Updated: 7/14/24 - out of 5 stars, based on 18 reviews

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

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Mortgage Data

Review & Overview

City is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. City has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Sherman, Granbury, Gainesville, and Athens among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

City 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. City is typically a low 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Refi 6.27% 7/14/24
15 Year Conventional Purchase 5.68% 7/14/24
15 Year Conventional Refi 5.68% 7/14/24
15 Year Cash-out Refi 5.68% 7/14/24
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.

City Mortgage Calculator






Your Estimates

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

This is not an official calculator from City. 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

337

Origination Dollar Volume (All Markets)

$49,705,000

Relative Rate

City's average 30 year fixed mortgage rate was 7.65%.

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

This yields a difference of 1.17%.

Relative Fees (Closing Costs)

City's average total fees/closing costs for a 30 year fixed rate mortgage were $3,831.

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
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 312 $46,980,000 $150,577 $2,751 7.78%
SHERMAN-DENISON, TX (FHA|USDA|VA) 13 $1,315,000 $101,154 $2,107 8.17%
Granbury, TX (FHA|USDA|VA) 1 $485,000 $485,000 $0 7.25%
Outside of Metro Areas 5 $445,000 $89,000 $2,620 7.86%
Gainesville, TX (FHA|USDA|VA) 4 $350,000 $87,500 $1,230 7.81%
Athens, TX (FHA|USDA|VA) 2 $130,000 $65,000 $1,292 7.58%
City's top markets include Dallas, Sherman, Granbury, Gainesville, and Athens among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 337 $49,705,000 $147,493 $2,673 7.79%

    For 2023, City's most frequently originated type of loan was Conventional, with 337 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 100 $11,030,000 $110,300 $2,221 7.99%
    Cash Out Refi 68 $12,440,000 $182,941 $3,222 7.42%
    Home Purchase 67 $17,845,000 $266,343 $782 7.25%
    Home Improvement 61 $4,375,000 $71,721 $1,285 8.20%
    Other 41 $4,015,000 $97,927 $3,655 8.21%

    For 2023, City's most frequently cited loan purpose was Refi, with 100 originations. The 2nd most popular reason was Cash Out Refi, with 68 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 159 $21,765,000 $136,887 $3,270 8.02%
    15 Year 118 $22,180,000 $187,966 $1,349 7.47%
    20 Year 24 $2,330,000 $97,083 $1,895 8.61%
    10 Year 18 $1,230,000 $68,333 $1,386 7.22%
    30 Year 9 $1,905,000 $211,667 $3,831 7.65%
    5 Year 8 $260,000 $32,500 $532 7.21%
    3 Year 1 $35,000 $35,000 $0 6.54%

    For 2023, City's most frequently cited loan duration was Other, with 159 originations. The 2nd most popular length was 15 Year, with 118 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 114 $6,300,000 $55,263
    $1k-2k 102 $12,960,000 $127,059
    $4k-5k 17 $4,415,000 $259,706
    $3k-4k 14 $2,330,000 $166,429
    $2k-3k 1 $105,000 $105,000
    $5k+ 1 $275,000 $275,000

    City's average total fees were $3,831, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 114 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 125 $21,115,000 $168,920
    Over 8% 116 $13,550,000 $116,810
    6-7% 96 $15,040,000 $156,667

    During 2023, City's average interest rate for loans was 7.65%, while their most frequently originated rate bucket for loans was 7-8%, with 125 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 153 $8,725,000 $57,026 $1,098 8.10%
    $100k-200k 87 $11,835,000 $136,034 $4,656 7.64%
    $200k-400k 84 $23,300,000 $277,381 $5,671 7.41%
    $400k-600k 13 $5,845,000 $449,615 $0 7.73%

    2023 saw City place emphasis on $100,000 or less loans with 153 originations, totaling $8,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 81 $8,565,000 $105,741 $2,011 7.60%
    $100k-150k 64 $7,560,000 $118,125 $4,122 8.24%
    $250k+ 59 $16,185,000 $274,322 $3,016 7.61%
    $150k-250k 48 $8,930,000 $186,042 $2,142 8.03%
    $75k-100k 48 $5,500,000 $114,583 $2,928 7.87%
    $50k or less 37 $2,965,000 $80,135 $1,360 7.34%

    City lent most frequently to those with incomes in the $50k-75k range, with 81 originations. The second most popular income band? $100k-150k, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 74 $8,080,000 $109,189 $2,074 7.91%
    30-36% 48 $6,220,000 $129,583 $5,367 7.97%
    <20% 42 $3,170,000 $75,476 $1,361 7.27%
    47% 17 $3,385,000 $199,118 $1,966 8.01%
    44% 14 $3,260,000 $232,857 $2,382 7.61%
    36% 13 $1,965,000 $151,154 $3,687 7.89%
    48% 13 $2,115,000 $162,692 $4,874 8.10%
    42% 12 $3,130,000 $260,833 $2,977 7.74%
    37% 12 $1,290,000 $107,500 $1,817 8.10%
    38% 12 $1,720,000 $143,333 $1,833 8.43%
    41% 12 $2,260,000 $188,333 $1,221 7.80%
    43% 12 $1,610,000 $134,167 $1,686 7.91%
    45% 12 $2,390,000 $199,167 $2,441 7.66%
    49% 12 $2,130,000 $177,500 $1,223 7.65%
    46% 10 $2,610,000 $261,000 $3,968 7.04%
    39% 9 $1,225,000 $136,111 $1,403 8.05%
    40% 6 $1,350,000 $225,000 $0 7.34%
    50-60% 6 $1,410,000 $235,000 $0 7.37%
    >60% 1 $385,000 $385,000 $10,854 8.03%

    City lent most frequently to those with DTI ratios of 20-30%, with 74 originations. The next most common DTI ratio? 30-36%, with 48 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 211 $30,095,000 $142,630 $2,118 7.87%
    Black 94 $11,970,000 $127,340 $4,279 7.79%
    Asian Indian 9 $2,725,000 $302,778 $0 7.14%
    Not provided 8 $1,970,000 $246,250 $0 6.94%
    Asian 9 $1,675,000 $186,111 $1,317 7.66%
    Not applicable 5 $1,055,000 $211,000 $0 7.65%
    Other Asian 1 $215,000 $215,000 $0 7.25%

    Approval Rates

    Total approvals of all applications
    84.08%

    City has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    99.70%

    City 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 337 $49,705,000 $147,493

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    337 $49,705,000 $147,493

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 119 $21,195,000 $178,109 $1,341 7.66%
    40-60% 56 $7,670,000 $136,964 $5,149 7.38%
    60-80% 39 $8,665,000 $222,179 $4,494 7.42%
    80-100% 13 $3,275,000 $251,923 $5,011 7.49%
    Under 20% 110 $8,900,000 $80,909 $1,206 8.32%