City Lending Mortgage Rates, Fees & Info

VIENNA, VA

LEI: 549300WHVRE44NRBU558

Tax ID: 46-2193453

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    City Lending is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. City Lending has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Washington, Baltimore, Miami, Cape Coral, and Indianapolis among others. We have data for 37 markets. (Some data included below & more in-depth data is available with an active subscription.)

    City Lending 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. City Lending is typically a high 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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    Originations

    1,194

    Origination Dollar Volume (All Markets)

    $329,950,000

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 850 $252,350,000 $296,882 $8,806 4.62%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 129 $32,495,000 $251,899 $8,423 4.65%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 25 $7,305,000 $292,200 $7,515 5.31%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 25 $4,585,000 $183,400 $8,071 5.03%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 28 $4,440,000 $158,571 $4,782 4.21%
    JACKSONVILLE, FL (FHA|USDA|VA) 22 $3,600,000 $163,636 $7,044 5.03%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 21 $3,205,000 $152,619 $6,643 4.32%
    WINCHESTER, VA-WV (FHA|USDA|VA) 14 $2,980,000 $212,857 $7,639 4.48%
    RICHMOND, VA (FHA|USDA|VA) 14 $2,820,000 $201,429 $6,920 4.55%
    Outside of Metro Areas 7 $1,685,000 $240,714 $7,259 4.39%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 5 $1,445,000 $289,000 $7,004 5.18%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 5 $1,445,000 $289,000 $9,269 4.50%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $1,070,000 $535,000 $15,514 5.43%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $995,000 $331,667 $5,936 4.42%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $705,000 $235,000 $6,014 4.71%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $660,000 $165,000 $12,517 4.00%
    ROANOKE, VA (FHA|USDA|VA) 5 $655,000 $131,000 $5,334 4.83%
    SALISBURY, MD-DE (FHA|USDA|VA) 3 $645,000 $215,000 $7,116 5.38%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $595,000 $595,000 $16,464 3.38%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $590,000 $295,000 $6,270 4.13%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 3 $585,000 $195,000 $7,822 5.17%
    VALLEJO, CA (FHA|USDA|VA) 2 $560,000 $280,000 $11,292 5.06%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $525,000 $525,000 $0 7.38%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $490,000 $245,000 $6,960 5.38%
    YORK-HANOVER, PA (FHA|USDA|VA) 4 $480,000 $120,000 $5,055 4.53%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $470,000 $235,000 $6,886 4.50%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $345,000 $345,000 $11,230 3.63%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $310,000 $155,000 $0 6.87%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $295,000 $295,000 $9,011 5.25%
    BOULDER, CO (FHA|USDA|VA) 1 $285,000 $285,000 $3,510 4.25%
    Easton, MD (FHA|USDA|VA) 1 $235,000 $235,000 $7,803 3.75%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $215,000 $215,000 $7,872 6.25%
    STAUNTON, VA (FHA|USDA|VA) 1 $185,000 $185,000 $7,492 5.25%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $185,000 $185,000 $4,298 4.75%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $185,000 $185,000 $7,495 4.63%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $185,000 $185,000 $4,607 4.13%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $145,000 $145,000 $6,863 5.38%
    City Lending's top markets include Washington, Baltimore, Miami, Cape Coral, and Indianapolis among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against City Lending based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    POWER FINANCIAL
    Similarity Rank: 188
    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 218
    POINT BREEZE
    Similarity Rank: 270
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 434
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 444
    Hendricks County Bank and Trust Company
    Similarity Rank: 456
    Victory Community Bank
    Similarity Rank: 480
    We Florida Financial
    Similarity Rank: 572
    APL
    Similarity Rank: 605
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 612

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 650 $184,080,000 $283,200 $10,184 4.53%
    Conventional 516 $137,040,000 $265,581 $6,207 4.81%
    VA 21 $7,425,000 $353,571 $8,497 4.17%
    USDA 7 $1,405,000 $200,714 $6,352 4.34%

    For 2019, City Lending's most frequently originated type of loan was FHA, with 650 originations. Their 2nd most popular type was Conventional, with 516 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 891 $243,995,000 $273,844 $8,632 4.76%
    Refi 202 $59,680,000 $295,446 $7,766 4.09%
    Cash Out Refi 101 $26,275,000 $260,149 $8,517 4.74%

    For 2019, City Lending's most frequently cited loan purpose was Home Purchase, with 891 originations. The 2nd most popular reason was Refi, with 202 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,129 $322,105,000 $285,301 $8,625 4.58%
    10 Year 30 $270,000 $9,000 $184 7.55%
    Other 14 $3,040,000 $217,143 $7,267 4.29%
    15 Year 12 $2,500,000 $208,333 $6,078 4.10%
    20 Year 9 $2,035,000 $226,111 $7,786 4.11%

    For 2019, City Lending's most frequently cited loan duration was 30 Year, with 1,129 originations. The 2nd most popular length was 10 Year, with 30 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 535 $151,895,000 $283,916
    $2k-3k 175 $44,955,000 $256,886
    $5k+ 163 $56,915,000 $349,172
    $3k-4k 142 $36,540,000 $257,324
    $<1k 89 $14,895,000 $167,360
    $4k-5k 76 $21,650,000 $284,868

    City Lending's average total fees were $8,625, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 535 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 611 $174,005,000 $284,787
    3-4% 271 $81,325,000 $300,092
    5-6% 238 $62,700,000 $263,445
    7-8% 39 $4,105,000 $105,256
    6-7% 25 $6,525,000 $261,000
    <2.5% 5 $65,000 $13,000
    2.5-3% 4 $930,000 $232,500
    Over 8% 1 $295,000 $295,000

    During 2019, City Lending's average interest rate for loans was 4.58%, while their most frequently originated rate bucket for loans was 4-5%, with 611 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 785 $227,255,000 $289,497 $8,649 4.53%
    $100k-200k 218 $35,480,000 $162,752 $6,507 4.83%
    $400k-600k 114 $53,560,000 $469,825 $11,736 4.50%
    $100,000 or less 60 $1,790,000 $29,833 $1,773 5.74%
    $600k-1MM 16 $10,680,000 $667,500 $17,818 4.48%
    $1MM+ 1 $1,185,000 $1,185,000 $0 7.49%

    2019 saw City Lending place emphasis on $200k-400k loans with 785 originations, totaling $227,255,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 437 $105,475,000 $241,362 $7,768 4.55%
    $50k-75k 407 $104,245,000 $256,130 $8,257 4.66%
    $75k-100k 194 $58,050,000 $299,227 $8,659 4.76%
    $100k-150k 103 $39,205,000 $380,631 $10,614 4.55%
    $150k-250k 38 $17,780,000 $467,895 $11,777 4.76%
    $250k+ 14 $4,830,000 $345,000 $8,460 5.85%

    City Lending lent most frequently to those with incomes in the $50k or less range, with 437 originations. The second most popular income band? $50k-75k, with 407 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 207 $59,595,000 $287,899 $10,748 4.60%
    30-36% 115 $31,095,000 $270,391 $7,946 4.66%
    48% 66 $18,590,000 $281,667 $8,156 4.78%
    20-30% 64 $15,780,000 $246,563 $7,286 4.64%
    44% 61 $18,455,000 $302,541 $8,494 4.69%
    49% 60 $17,470,000 $291,167 $8,187 4.52%
    <20% 59 $17,385,000 $294,661 $8,061 4.56%
    42% 58 $17,600,000 $303,448 $9,309 4.82%
    45% 56 $15,330,000 $273,750 $7,910 4.64%
    43% 55 $16,595,000 $301,727 $8,232 4.70%
    40% 47 $10,785,000 $229,468 $6,751 4.89%
    41% 46 $11,800,000 $256,522 $7,693 4.82%
    47% 46 $11,510,000 $250,217 $8,371 4.78%
    46% 45 $12,245,000 $272,111 $8,260 4.90%
    37% 40 $9,670,000 $241,750 $6,967 4.53%
    39% 37 $9,605,000 $259,595 $7,871 4.61%
    38% 28 $7,340,000 $262,143 $8,765 4.88%
    36% 28 $7,110,000 $253,929 $6,548 4.54%
    >60% 6 $640,000 $106,667 $7,866 4.71%

    City Lending lent most frequently to those with DTI ratios of 50-60%, with 207 originations. The next most common DTI ratio? 30-36%, with 115 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 942 $253,920,000 $269,554 $8,179 4.65%
    Black 153 $44,815,000 $292,908 $9,770 4.62%
    Asian 24 $10,280,000 $428,333 $9,315 4.38%
    Not provided 40 $10,190,000 $254,750 $8,686 4.83%
    Not applicable 16 $4,560,000 $285,000 $9,785 4.56%
    American Indian 14 $4,130,000 $295,000 $9,458 4.40%
    Asian Indian 2 $1,010,000 $505,000 $9,792 4.19%
    Other Asian 2 $800,000 $400,000 $11,050 3.88%
    Native Hawaiian or Islander 1 $245,000 $245,000 $9,274 4.63%

    Approval Rates

    Total approvals of all applications
    95.23%

    City Lending 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
    76.97%

    City Lending has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,194 $329,950,000 $276,340

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $425,000 $141,667
    Single Family (1-4 Units):Site-Built 1,191 $329,525,000 $276,679

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $625,000 $125,000 $4,416 4.63%
    40-60% 22 $4,970,000 $225,909 $7,391 5.12%
    60-80% 161 $45,165,000 $280,528 $7,358 4.78%
    80-100% 952 $274,440,000 $288,277 $8,788 4.54%
    Over 100% 10 $4,250,000 $425,000 $17,832 4.57%
    Under 20% 44 $500,000 $11,364 $370 6.18%