Center City Mortgage And Investments Rates, Fees & Info

NEW PHILADELPHIA, PA

LEI: 549300QXJAPKTQHC4S45

Tax ID: 83-1560419

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Center City Mortgage And Investments is a smaller mortgage company specializing in Home Purchase and Refi loans. Center City Mortgage And Investments has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, New York, Atlantic City, Allentown, and Reading among others. We have data for 9 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 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.63% 12/16/24
    30 Year Conventional Refi 6.47% 12/16/24
    30 Year Cash-out Refi 6.76% 12/16/24
    30 Year FHA Purchase 7.02% 12/16/24
    30 Year FHA Refi 6.27% 12/16/24
    15 Year Conventional Purchase 6.01% 12/16/24
    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

    389

    Origination Dollar Volume (All Markets)

    $114,055,000

    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) 366 $108,380,000 $296,120 $4,645 3.24%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 5 $1,635,000 $327,000 $3,613 3.25%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 6 $1,630,000 $271,667 $3,412 3.23%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 4 $740,000 $185,000 $4,331 3.28%
    READING, PA (FHA|USDA|VA) 1 $515,000 $515,000 $5,706 2.99%
    OCEAN CITY, NJ (FHA|USDA|VA) 3 $485,000 $161,667 $4,133 3.25%
    Outside of Metro Areas 2 $270,000 $135,000 $3,477 3.12%
    LANCASTER, PA (FHA|USDA|VA) 1 $225,000 $225,000 $3,475 2.88%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $175,000 $175,000 $3,249 3.25%
    Center City Mortgage And Investments's top markets include Philadelphia, New York, Atlantic City, Allentown, and Reading among others.

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

    First Citizens Community Bank
    Similarity Rank: 589
    BHCU
    Similarity Rank: 625
    Prudential Bank
    Similarity Rank: 640
    Unity Bank
    Similarity Rank: 1258
    GLENDENNING MORTGAGE CORPORATION
    Similarity Rank: 1340
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 1585
    FEDERATED LENDING CORPORATION
    Similarity Rank: 1932
    Penn Community Bank
    Similarity Rank: 1950
    Columbia Bank
    Similarity Rank: 1971
    PINNACLE MORTGAGE, INC.
    Similarity Rank: 1978

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 389 $114,055,000 $293,201 $4,595 3.23%

    For 2020, Center City Mortgage And Investments's most frequently originated type of loan was Conventional, with 389 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 231 $70,745,000 $306,255 $4,658 3.18%
    Refi 101 $29,975,000 $296,782 $4,215 3.09%
    Cash Out Refi 49 $11,135,000 $227,245 $5,023 3.59%
    Home Improvement 8 $2,200,000 $275,000 $4,965 4.39%

    For 2020, Center City Mortgage And Investments's most frequently cited loan purpose was Home Purchase, with 231 originations. The 2nd most popular reason was Refi, with 101 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 340 $100,250,000 $294,853 $4,631 3.27%
    15 Year 32 $7,740,000 $241,875 $4,264 2.94%
    20 Year 12 $4,200,000 $350,000 $4,520 3.16%
    Other 4 $1,270,000 $317,500 $4,273 3.12%
    10 Year 1 $595,000 $595,000 $5,479 2.75%

    For 2020, Center City Mortgage And Investments's most frequently cited loan duration was 30 Year, with 340 originations. The 2nd most popular length was 15 Year, with 32 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 288 $87,340,000 $303,264
    $1k-2k 36 $8,520,000 $236,667
    $2k-3k 23 $7,075,000 $307,609
    $3k-4k 23 $5,735,000 $249,348
    $5k+ 11 $2,915,000 $265,000
    $4k-5k 8 $2,470,000 $308,750

    Center City Mortgage And Investments's average total fees were $4,631, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 288 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 198 $59,780,000 $301,919
    2.5-3% 168 $49,280,000 $293,333
    4-5% 21 $4,055,000 $193,095
    <2.5% 2 $940,000 $470,000

    During 2020, Center City Mortgage And Investments's average interest rate for loans was 3.27%, while their most frequently originated rate bucket for loans was 3-4%, with 198 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 198 $56,560,000 $285,657 $4,402 3.17%
    $100k-200k 93 $14,365,000 $154,462 $4,045 3.30%
    $400k-600k 70 $32,460,000 $463,714 $5,551 3.14%
    $100,000 or less 17 $1,315,000 $77,353 $3,820 3.90%
    $600k-1MM 9 $7,165,000 $796,111 $7,626 3.40%
    $1MM+ 2 $2,190,000 $1,095,000 $8,864 3.00%

    2020 saw Center City Mortgage And Investments place emphasis on $200k-400k loans with 198 originations, totaling $56,560,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 109 $30,705,000 $281,697 $4,677 3.26%
    $150k-250k 94 $30,500,000 $324,468 $4,819 3.24%
    $50k-75k 68 $14,870,000 $218,676 $4,050 3.23%
    $75k-100k 57 $15,095,000 $264,825 $4,074 3.21%
    $250k+ 37 $19,325,000 $522,297 $6,340 3.22%
    $50k or less 24 $3,560,000 $148,333 $3,442 3.19%

    Center City Mortgage And Investments lent most frequently to those with incomes in the $100k-150k range, with 109 originations. The second most popular income band? $150k-250k, with 94 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 135 $42,455,000 $314,481 $4,588 3.17%
    30-36% 67 $18,585,000 $277,388 $4,498 3.31%
    <20% 60 $19,950,000 $332,500 $4,629 3.07%
    44% 17 $4,125,000 $242,647 $4,903 3.40%
    40% 13 $3,365,000 $258,846 $3,885 3.20%
    37% 13 $4,065,000 $312,692 $4,793 3.36%
    39% 11 $2,665,000 $242,273 $4,696 3.49%
    38% 10 $2,260,000 $226,000 $3,680 3.20%
    41% 9 $2,265,000 $251,667 $3,829 3.14%
    43% 9 $1,995,000 $221,667 $4,666 3.37%
    42% 8 $3,000,000 $375,000 $5,722 3.55%
    45% 8 $1,820,000 $227,500 $4,606 3.47%
    47% 7 $1,895,000 $270,714 $4,470 3.28%
    48% 7 $1,075,000 $153,571 $3,664 3.18%
    46% 6 $2,080,000 $346,667 $5,434 3.42%
    49% 5 $1,445,000 $289,000 $5,629 3.75%
    36% 4 $1,010,000 $252,500 $6,921 3.16%

    Center City Mortgage And Investments lent most frequently to those with DTI ratios of 20-30%, with 135 originations. The next most common DTI ratio? 30-36%, with 67 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 274 $81,650,000 $297,993 $4,511 3.20%
    Not provided 47 $15,055,000 $320,319 $5,097 3.35%
    Asian 32 $10,190,000 $318,438 $4,695 3.17%
    Black 35 $7,025,000 $200,714 $4,533 3.41%
    American Indian 1 $135,000 $135,000 $3,187 3.38%

    Approval Rates

    Total approvals of all applications
    97.07%

    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
    46.53%

    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 389 $114,055,000 $293,201

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 389 $114,055,000 $293,201

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $580,000 $145,000 $3,420 3.47%
    40-60% 38 $10,090,000 $265,526 $4,154 3.12%
    60-80% 153 $42,345,000 $276,765 $4,803 3.35%
    80-100% 194 $61,040,000 $314,639 $4,543 3.16%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CONTOUR MORTGAGE CORPORATION Conventional home mortgage Struggling to pay mortgage 1 20.0%
    CONTOUR MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 1 20.0%
    CONTOUR MORTGAGE CORPORATION Other type of mortgage Closing on a mortgage 1 20.0%
    CONTOUR MORTGAGE CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    CONTOUR MORTGAGE CORPORATION Conventional home mortgage Closing on a mortgage 1 20.0%