Center City Mortgage And Investments Rates, Fees & Info
NEW PHILADELPHIA, PALEI: 549300QXJAPKTQHC4S45
Tax ID: 83-1560419
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Mortgage Data
Review & Overview
Center City Mortgage And Investments is a smaller mortgage company specializing in Home Purchase loans. Center City Mortgage And Investments has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Philadelphia, Atlantic City, New York, Miami, and Reading among others. We have data for 10 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 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 Purchase | 6.63% | 11/17/24 |
| 30 Year Conventional Refi | 6.47% | 11/17/24 |
| 30 Year Cash-out Refi | 6.76% | 11/17/24 |
| 30 Year FHA Purchase | 7.02% | 11/17/24 |
| 30 Year FHA Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 6.01% | 11/17/24 |
| 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. | ||
Center City Mortgage And Investments Mortgage Calculator
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This is not an official calculator from Center City Mortgage And Investments. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
201Origination Dollar Volume (All Markets)
$67,655,000Awards
Center City Mortgage and Investments - 2023
Center City Mortgage and Investments is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Center City Mortgage And Investments's average 30 year fixed mortgage rate was
6.73%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.25%.
Relative Fees (Closing Costs)
Center City Mortgage And Investments's average total fees/closing costs for a 30 year fixed rate
mortgage were $8,044.
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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 189 | $64,125,000 | $339,286 | $8,029 | 6.69% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $9,212 | 7.06% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $7,475 | 7.13% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $22,392 | 7.50% |
| READING, PA (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $5,575 | 6.38% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,918 | 6.88% |
| Sunbury, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,797 | 6.63% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,688 | 7.13% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 6.63% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 7.63% |
Similar Lenders
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.
Similarity Rank: 21
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Similarity Rank: 910
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 164 | $56,690,000 | $345,671 | $7,030 | 6.82% |
| FHA | 37 | $10,965,000 | $296,351 | $12,271 | 6.19% |
For 2023, Center City Mortgage And Investments's most frequently originated type of loan was Conventional, with 164 originations. Their 2nd most popular type was FHA, with 37 originations.
Loan Reason
For 2023, Center City Mortgage And Investments's most frequently cited loan purpose was Home Purchase, with 198 originations. The 2nd most popular reason was Cash Out Refi, with 2 originations.
Loan Duration/Length
For 2023, Center City Mortgage And Investments's most frequently cited loan duration was 30 Year, with 195 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
Center City Mortgage And Investments's average total fees were $8,044, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 82 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 104 | $35,070,000 | $337,212 |
| 7-8% | 67 | $22,975,000 | $342,910 |
| 5-6% | 30 | $9,610,000 | $320,333 |
During 2023, Center City Mortgage And Investments's average interest rate for loans was 6.73%, while their most frequently originated rate bucket for loans was 6-7%, with 104 originations.
Loan Sizing
2023 saw Center City Mortgage And Investments place emphasis on $200k-400k loans with 99 originations, totaling $29,615,000 in origination value.
Applicant Income
Center City Mortgage And Investments lent most frequently to those with incomes in the $150k-250k range, with 54 originations. The second most popular income band? $100k-150k, with 41 originations.
Applicant Debt to Income Ratio
Center City Mortgage And Investments lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 37 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.30%
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 Rate
Approvals leading to origination56.22%
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 |
|---|---|---|---|
| NA | 201 | $67,655,000 | $336,592 |