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

Jump to:

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 and Refi loans. City Lending has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Washington, Baltimore, Seattle, Miami, and Indianapolis among others. We have data for 50 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.

    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.


    Originations

    1,558

    Origination Dollar Volume (All Markets)

    $457,110,000

    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) 1,143 $355,895,000 $311,369 $8,342 3.44%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 146 $36,960,000 $253,151 $8,249 3.74%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 20 $6,430,000 $321,500 $7,851 3.12%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 19 $5,825,000 $306,579 $7,368 3.68%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 30 $4,780,000 $159,333 $5,510 3.50%
    WINCHESTER, VA-WV (FHA|USDA|VA) 16 $4,420,000 $276,250 $7,962 3.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 22 $4,340,000 $197,273 $9,695 3.31%
    JACKSONVILLE, FL (FHA|USDA|VA) 26 $3,500,000 $134,615 $5,939 2.88%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 11 $3,445,000 $313,182 $6,940 4.27%
    Outside of Metro Areas 14 $3,000,000 $214,286 $6,649 3.63%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 12 $2,670,000 $222,500 $10,036 3.42%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 10 $2,650,000 $265,000 $10,237 3.66%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 10 $2,450,000 $245,000 $7,727 3.03%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 7 $2,035,000 $290,714 $5,064 3.14%
    RICHMOND, VA (FHA|USDA|VA) 8 $1,750,000 $218,750 $6,427 3.55%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $1,385,000 $461,667 $7,747 3.75%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $1,150,000 $287,500 $6,779 3.22%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $1,145,000 $229,000 $5,714 3.03%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $1,130,000 $565,000 $6,151 2.81%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 4 $930,000 $232,500 $9,832 2.81%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 3 $855,000 $285,000 $8,867 3.25%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $790,000 $395,000 $6,219 2.75%
    ROANOKE, VA (FHA|USDA|VA) 4 $780,000 $195,000 $7,516 3.38%
    FORT COLLINS, CO (FHA|USDA|VA) 2 $700,000 $350,000 $13,217 2.81%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $670,000 $335,000 $5,004 4.75%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $635,000 $211,667 $5,730 3.04%
    BELLINGHAM, WA (FHA|USDA|VA) 2 $580,000 $290,000 $5,756 3.13%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $530,000 $265,000 $13,620 2.50%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $510,000 $255,000 $5,795 3.50%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $435,000 $435,000 $13,513 3.50%
    VALLEJO, CA (FHA|USDA|VA) 1 $385,000 $385,000 $6,931 3.38%
    GREELEY, CO (FHA|USDA|VA) 1 $365,000 $365,000 $4,246 3.13%
    Shelton, WA (FHA|USDA|VA) 2 $340,000 $170,000 $5,252 1.63%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $325,000 $325,000 $3,423 2.88%
    GRAND JUNCTION, CO (FHA|USDA|VA) 2 $310,000 $155,000 $5,106 5.63%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $305,000 $305,000 $7,531 2.88%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $305,000 $305,000 $4,842 3.13%
    BOULDER, CO (FHA|USDA|VA) 1 $295,000 $295,000 $3,828 3.00%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $245,000 $245,000 $6,420 3.63%
    Fort Morgan, CO (FHA|USDA|VA) 1 $245,000 $245,000 $3,813 3.13%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $195,000 $195,000 $8,242 2.88%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $185,000 $185,000 $4,324 2.88%
    PANAMA CITY, FL (FHA|USDA|VA) 2 $180,000 $90,000 $4,925 6.25%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $175,000 $175,000 $5,283 3.63%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $165,000 $165,000 $2,903 2.75%
    STOCKTON, CA (FHA|USDA|VA) 1 $155,000 $155,000 $0 8.00%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $145,000 $145,000 $3,772 3.50%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $145,000 $145,000 $5,814 3.75%
    Easton, MD (FHA|USDA|VA) 1 $145,000 $145,000 $8,295 3.38%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $125,000 $125,000 $2,693 3.25%
    City Lending's top markets include Washington, Baltimore, Seattle, Miami, and Indianapolis among others.

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

    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 271
    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 304
    Hendricks County Bank and Trust Company
    Similarity Rank: 376
    Independent Federal Credit Union
    Similarity Rank: 441
    Madison County Federal Credit Union
    Similarity Rank: 488
    We Florida Financial
    Similarity Rank: 638
    Security Federal Savings Bank
    Similarity Rank: 750
    NEAL COMMUNITIES FUNDING, LLC
    Similarity Rank: 796
    POWER FINANCIAL
    Similarity Rank: 870
    Poli Mortgage Group, Inc.
    Similarity Rank: 1100

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 805 $228,075,000 $283,323 $5,672 3.58%
    FHA 726 $219,330,000 $302,107 $10,891 3.34%
    VA 27 $9,705,000 $359,444 $6,794 2.94%

    For 2020, City Lending's most frequently originated type of loan was Conventional, with 805 originations. Their 2nd most popular type was FHA, with 726 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 969 $283,515,000 $292,585 $8,838 3.56%
    Refi 475 $141,505,000 $297,905 $6,818 3.22%
    Cash Out Refi 112 $31,510,000 $281,339 $7,859 3.56%
    Home Improvement 2 $580,000 $290,000 $5,141 3.00%

    For 2020, City Lending's most frequently cited loan purpose was Home Purchase, with 969 originations. The 2nd most popular reason was Refi, with 475 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,419 $432,795,000 $305,000 $8,557 3.37%
    10 Year 46 $830,000 $18,043 $230 6.84%
    15 Year 43 $11,045,000 $256,860 $5,434 3.01%
    20 Year 29 $7,265,000 $250,517 $5,873 3.20%
    Other 20 $5,170,000 $258,500 $6,188 3.19%
    30+ year 1 $5,000 $5,000 $0 5.38%

    For 2020, City Lending's most frequently cited loan duration was 30 Year, with 1,419 originations. The 2nd most popular length was 10 Year, with 46 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 693 $217,195,000 $313,413
    $5k+ 258 $87,900,000 $340,698
    $2k-3k 218 $60,480,000 $277,431
    $3k-4k 153 $42,975,000 $280,882
    $<1k 115 $12,655,000 $110,043
    $4k-5k 115 $34,305,000 $298,304

    City Lending's average total fees were $8,557, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 693 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 824 $253,040,000 $307,087
    2.5-3% 430 $136,930,000 $318,442
    4-5% 130 $34,390,000 $264,538
    <2.5% 93 $21,155,000 $227,473
    7-8% 47 $2,635,000 $56,064
    5-6% 23 $5,455,000 $237,174
    6-7% 9 $3,165,000 $351,667
    Over 8% 2 $340,000 $170,000

    During 2020, City Lending's average interest rate for loans was 3.37%, while their most frequently originated rate bucket for loans was 3-4%, with 824 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 991 $293,905,000 $296,574 $8,560 3.38%
    $400k-600k 236 $108,570,000 $460,042 $10,393 3.26%
    $100k-200k 215 $35,785,000 $166,442 $6,187 3.59%
    $100,000 or less 92 $2,040,000 $22,174 $728 4.51%
    $600k-1MM 23 $15,765,000 $685,435 $12,781 3.39%
    $1MM+ 1 $1,045,000 $1,045,000 $27,565 6.65%

    2020 saw City Lending place emphasis on $200k-400k loans with 991 originations, totaling $293,905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 510 $136,830,000 $268,294 $8,003 3.53%
    $50k or less 485 $120,935,000 $249,351 $7,951 3.39%
    $75k-100k 287 $88,025,000 $306,707 $8,225 3.52%
    $100k-150k 159 $59,645,000 $375,126 $9,077 3.30%
    $150k-250k 78 $35,450,000 $454,487 $8,251 3.40%
    $250k+ 24 $10,750,000 $447,917 $7,775 3.79%

    City Lending lent most frequently to those with incomes in the $50k-75k range, with 510 originations. The second most popular income band? $50k or less, with 485 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 215 $66,595,000 $309,744 $11,011 3.31%
    30-36% 210 $59,100,000 $281,429 $6,921 3.69%
    20-30% 142 $40,120,000 $282,535 $6,090 3.44%
    44% 77 $23,405,000 $303,961 $7,969 3.43%
    43% 77 $21,495,000 $279,156 $7,061 3.37%
    42% 74 $21,850,000 $295,270 $8,310 3.45%
    40% 69 $18,975,000 $275,000 $7,678 3.58%
    41% 61 $16,005,000 $262,377 $7,141 3.55%
    39% 57 $16,825,000 $295,175 $8,334 3.47%
    37% 55 $15,185,000 $276,091 $7,029 3.59%
    49% 55 $17,865,000 $324,818 $10,177 3.56%
    45% 53 $15,985,000 $301,604 $8,371 3.30%
    47% 53 $16,565,000 $312,547 $9,886 3.36%
    36% 52 $15,270,000 $293,654 $6,815 3.62%
    38% 52 $16,640,000 $320,000 $8,164 3.29%
    46% 51 $15,225,000 $298,529 $9,769 3.45%
    48% 50 $15,050,000 $301,000 $9,197 3.52%
    <20% 39 $12,075,000 $309,615 $5,627 3.21%
    >60% 3 $505,000 $168,333 $8,254 6.31%

    City Lending lent most frequently to those with DTI ratios of 50-60%, with 215 originations. The next most common DTI ratio? 30-36%, with 210 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,273 $371,395,000 $291,748 $8,089 3.44%
    Black 136 $40,060,000 $294,559 $9,326 3.55%
    Asian 63 $21,985,000 $348,968 $6,757 3.47%
    Not provided 41 $11,125,000 $271,341 $8,030 3.45%
    American Indian 32 $8,370,000 $261,563 $8,432 3.73%
    Asian Indian 6 $1,960,000 $326,667 $9,059 3.40%
    Not applicable 6 $1,480,000 $246,667 $7,379 3.44%
    Other Asian 1 $735,000 $735,000 $5,236 3.00%

    Approval Rates

    Total approvals of all applications
    96.13%

    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
    38.32%

    City Lending 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 1,558 $457,110,000 $293,395

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $515,000 $515,000
    Single Family (1-4 Units):Manufactured 4 $1,290,000 $322,500
    Single Family (1-4 Units):Site-Built 1,553 $455,305,000 $293,178

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $3,535,000 $207,941 $4,549 3.04%
    40-60% 53 $15,965,000 $301,226 $5,708 3.17%
    60-80% 316 $94,170,000 $298,006 $6,522 3.51%
    80-100% 1,088 $340,140,000 $312,629 $9,303 3.37%
    Over 100% 6 $2,350,000 $391,667 $13,804 3.63%
    Under 20% 78 $950,000 $12,179 $52 4.63%