Center City Mortgage And Investments Rates, Fees & Info

NEW PHILADELPHIA, PA

LEI: 549300QXJAPKTQHC4S45

Tax ID: 83-1560419

5 stars - Updated: 3/17/24 - out of 5 stars, based on 19 reviews

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

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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, 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.

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 6.63% 3/17/24
30 Year Conventional Refi 6.47% 3/17/24
30 Year Cash-out Refi 6.76% 3/17/24
30 Year FHA Purchase 7.02% 3/17/24
30 Year FHA Refi 6.27% 3/17/24
15 Year Conventional Purchase 6.01% 3/17/24
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






Your Estimates

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

This is not an official calculator from Center City Mortgage And Investments. 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

354

Origination Dollar Volume (All Markets)

$115,420,000

Relative Rate

Center City Mortgage And Investments's average 30 year fixed mortgage rate was 4.84%.

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.

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) 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%
Center City Mortgage And Investments's top markets include Philadelphia, Tampa, Reading, Trenton, and Ocean City among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • 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.

    Louviers Federal Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 329 $109,595,000 $333,116 $5,720 4.74%
    FHA 25 $5,825,000 $233,000 $9,246 5.76%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 325 $106,425,000 $327,462 $5,995 4.85%
    Cash Out Refi 24 $6,670,000 $277,917 $5,703 4.50%
    Refi 5 $2,325,000 $465,000 $5,913 4.03%

    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 Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 341 $112,125,000 $328,812 $6,007 4.84%
    15 Year 10 $2,800,000 $280,000 $4,949 3.84%
    10 Year 2 $260,000 $130,000 $6,245 3.75%
    20 Year 1 $235,000 $235,000 $5,160 6.50%

    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
    $1k-2k 214 $70,170,000 $327,897
    $2k-3k 53 $17,435,000 $328,962
    $3k-4k 28 $8,800,000 $314,286
    $4k-5k 27 $7,755,000 $287,222
    $5k+ 26 $8,630,000 $331,923
    $<1k 6 $2,630,000 $438,333

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 102 $31,350,000 $307,353
    3-4% 97 $35,505,000 $366,031
    4-5% 91 $29,595,000 $325,220
    6-7% 49 $14,585,000 $297,653
    2.5-3% 9 $2,875,000 $319,444
    7-8% 5 $1,105,000 $221,000
    <2.5% 1 $405,000 $405,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 189 $54,965,000 $290,820 $5,851 4.81%
    $100k-200k 68 $10,630,000 $156,324 $5,082 5.04%
    $400k-600k 62 $29,970,000 $483,387 $6,463 4.61%
    $600k-1MM 24 $16,880,000 $703,333 $7,879 4.64%
    $100,000 or less 9 $745,000 $82,778 $5,187 5.25%
    $1MM+ 2 $2,230,000 $1,115,000 $10,224 3.81%

    2022 saw Center City Mortgage And Investments place emphasis on $200k-400k loans with 189 originations, totaling $54,965,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 90 $27,890,000 $309,889 $5,820 4.75%
    $50k-75k 71 $17,275,000 $243,310 $5,643 4.91%
    $75k-100k 68 $19,680,000 $289,412 $5,975 5.02%
    $150k-250k 65 $26,915,000 $414,077 $6,301 4.73%
    $250k+ 35 $19,405,000 $554,429 $7,042 4.71%
    $50k or less 25 $4,255,000 $170,200 $5,162 4.54%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 79 $28,085,000 $355,506 $5,914 4.72%
    30-36% 61 $18,735,000 $307,131 $5,724 4.69%
    <20% 25 $7,665,000 $306,600 $5,103 4.31%
    48% 19 $5,605,000 $295,000 $6,500 4.96%
    43% 17 $5,125,000 $301,471 $5,785 5.22%
    38% 16 $5,720,000 $357,500 $6,011 4.70%
    41% 15 $5,655,000 $377,000 $6,092 5.07%
    39% 14 $4,100,000 $292,857 $6,259 4.61%
    47% 14 $5,710,000 $407,857 $6,487 4.59%
    46% 13 $3,495,000 $268,846 $6,008 4.93%
    49% 13 $4,585,000 $352,692 $6,981 4.81%
    37% 13 $4,185,000 $321,923 $4,695 5.19%
    36% 13 $3,715,000 $285,769 $5,646 4.84%
    40% 12 $4,480,000 $373,333 $6,532 4.80%
    44% 9 $2,075,000 $230,556 $5,091 5.15%
    45% 8 $2,650,000 $331,250 $6,579 5.56%
    42% 7 $2,505,000 $357,857 $6,997 4.98%
    50-60% 6 $1,330,000 $221,667 $8,957 5.50%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 204 $70,040,000 $343,333 $5,666 4.74%
    Not provided 73 $22,485,000 $308,014 $6,110 4.85%
    Asian 36 $11,960,000 $332,222 $6,022 4.90%
    Black 38 $10,100,000 $265,789 $7,540 4.99%
    American Indian 2 $730,000 $365,000 $4,846 5.63%
    Chinese 1 $105,000 $105,000 $4,404 4.50%

    Approval Rates

    Total approvals of all applications
    97.44%

    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 origination
    60.45%

    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 354 $115,420,000 $326,045

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    354 $115,420,000 $326,045

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $920,000 $153,333 $3,989 4.73%
    40-60% 20 $5,540,000 $277,000 $5,315 4.16%
    60-80% 93 $28,125,000 $302,419 $5,620 4.72%
    80-100% 235 $80,835,000 $343,979 $6,218 4.90%