Center City Mortgage And Investments Rates, Fees & InfoNEW PHILADELPHIA, PA
Tax ID: 83-1560419
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewCenter 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, Tampa, Reading, Trenton, and Ocean City among others. We have data for 13 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.
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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.63%||9/25/23|
|30 Year Conventional Refi||6.47%||9/25/23|
|30 Year Cash-out Refi||6.76%||9/25/23|
|30 Year FHA Purchase||7.02%||9/25/23|
|30 Year FHA Refi||6.27%||9/25/23|
|15 Year Conventional Purchase||6.01%||9/25/23|
|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.|
Center City Mortgage And Investments Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$115,420,000
Center City Mortgage And Investments's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.08%.
Relative Fees (Closing Costs)
Center City Mortgage And Investments's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,007.
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)||336||$109,900,000||$327,083||$5,964||4.78%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||5||$1,345,000||$269,000||$5,941||5.38%|
|READING, PA (FHA|USDA|VA)||2||$750,000||$375,000||$7,786||5.81%|
|TRENTON-PRINCETON, NJ (FHA|USDA|VA)||1||$545,000||$545,000||$5,450||6.63%|
|OCEAN CITY, NJ (FHA|USDA|VA)||1||$545,000||$545,000||$5,112||5.88%|
|New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)||1||$455,000||$455,000||$6,565||4.38%|
|ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)||1||$425,000||$425,000||$9,680||5.63%|
|ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA)||2||$420,000||$210,000||$4,714||4.56%|
|THE VILLAGES, FL (FHA|USDA|VA)||1||$305,000||$305,000||$3,376||5.50%|
|EAST STROUDSBURG, PA (FHA|USDA|VA)||1||$275,000||$275,000||$7,337||6.13%|
|LANCASTER, PA (FHA|USDA|VA)||1||$255,000||$255,000||$8,235||5.63%|
|SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA)||1||$115,000||$115,000||$0||5.38%|
|ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA)||1||$85,000||$85,000||$4,821||5.00%|
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 2022, Center City Mortgage And Investments's most frequently originated type of loan was Conventional, with 329 originations. Their 2nd most popular type was FHA, with 25 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||24||$6,670,000||$277,917||$5,703||4.50%|
For 2022, Center City Mortgage And Investments's most frequently cited loan purpose was Home Purchase, with 325 originations. The 2nd most popular reason was Cash Out Refi, with 24 originations.
|Loan Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
For 2022, Center City Mortgage And Investments's most frequently cited loan duration was 30 Year, with 341 originations. The 2nd most popular length was 15 Year, with 10 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Center City Mortgage And Investments's average total fees were $6,007, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 214 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Center City Mortgage And Investments's average interest rate for loans was 4.84%, while their most frequently originated rate bucket for loans was 5-6%, with 102 originations.
2022 saw Center City Mortgage And Investments place emphasis on $200k-400k loans with 189 originations, totaling $54,965,000 in origination value.
Center City Mortgage And Investments lent most frequently to those with incomes in the $100k-150k range, with 90 originations. The second most popular income band? $50k-75k, with 71 originations.
Applicant Debt to Income Ratio
Center City Mortgage And Investments lent most frequently to those with DTI ratios of 20-30%, with 79 originations. The next most common DTI ratio? 30-36%, with 61 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|