Center City Mortgage And Investments Rates, Fees & InfoNEW PHILADELPHIA, PA
Tax ID: 83-1560419
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewCenter City Mortgage And Investments is a smaller mortgage company specializing in loans. Center City Mortgage And Investments has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Atlantic City, Ocean City, New York, and Reading among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)
Center City Mortgage And Investments 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. Center City Mortgage And Investments is typically an average 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.45%||3/19/23|
|30 Year Conventional Refi||6.47%||3/19/23|
|30 Year Cash-out Refi||6.63%||3/19/23|
|30 Year FHA Purchase||6.27%||3/19/23|
|30 Year FHA Refi||6.27%||3/19/23|
|15 Year Conventional Purchase||5.82%||3/19/23|
|15 Year Conventional Refi||5.80%||3/19/23|
|15 Year Cash-out Refi||5.80%||3/19/23|
|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.|
Origination Dollar Volume (All Markets)$207,140,000
Center City Mortgage And Investments's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.09%.
Relative Fees (Closing Costs)
Center City Mortgage And Investments's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,095.
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 $4,750.
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|
|Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA)||598||$197,050,000||$329,515||$5,013||3.02%|
|ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA)||6||$3,450,000||$575,000||$6,265||2.65%|
|OCEAN CITY, NJ (FHA|USDA|VA)||6||$1,990,000||$331,667||$4,133||2.75%|
|New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)||5||$1,105,000||$221,000||$3,432||3.02%|
|READING, PA (FHA|USDA|VA)||3||$855,000||$285,000||$3,929||3.08%|
|ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA)||4||$800,000||$200,000||$4,708||3.09%|
|TRENTON-PRINCETON, NJ (FHA|USDA|VA)||2||$690,000||$345,000||$4,414||3.06%|
|SALISBURY, MD-DE (FHA|USDA|VA)||2||$390,000||$195,000||$5,098||3.19%|
|YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA)||1||$365,000||$365,000||$6,890||2.75%|
|DOVER, DE (FHA|USDA|VA)||1||$255,000||$255,000||$6,396||3.63%|
|SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA)||1||$135,000||$135,000||$3,704||3.25%|
|JOHNSTOWN, PA (FHA|USDA|VA)||1||$55,000||$55,000||$3,025||3.38%|
We use machine learning to identify the top lenders compared against Center City Mortgage and Investments based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Center City Mortgage And Investments's most frequently originated type of loan was Conventional, with 630 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||73||$17,645,000||$241,712||$4,953||3.33%|
For 2021, Center City Mortgage And Investments's most frequently cited loan purpose was Home Purchase, with 464 originations. The 2nd most popular reason was Refi, with 93 originations.
For 2021, Center City Mortgage And Investments's most frequently cited loan duration was 30 Year, with 569 originations. The 2nd most popular length was 15 Year, with 44 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Center City Mortgage And Investments's average total fees were $5,095, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 298 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, Center City Mortgage And Investments's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 2.5-3%, with 365 originations.
2021 saw Center City Mortgage And Investments place emphasis on $200k-400k loans with 355 originations, totaling $101,885,000 in origination value.
Center City Mortgage And Investments lent most frequently to those with incomes in the $100k-150k range, with 173 originations. The second most popular income band? $150k-250k, with 142 originations.
Applicant Debt to Income Ratio
Center City Mortgage And Investments lent most frequently to those with DTI ratios of 20-30%, with 172 originations. The next most common DTI ratio? 30-36%, with 124 originations.
Approval RatesTotal approvals of all applications
Center City Mortgage And Investments has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Center City Mortgage And Investments 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|
|Bank Name||Product||Issue||2021 CPFB Complaints||% of Total Issues|
|CENTURY MORTGAGE COMPANY||VA mortgage||Trouble during payment process||1||100.0%|