City Lending Inc Mortgage Interest Rate and Cost Review

Is City Lending Inc a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by City Lending Inc to those of other lenders for a comparable set of borrowers. Here is our review of City Lending Inc nationally:

Review ItemCity Lending Inc
Interest Ratehigher than other lenders (+0.20%)
Loan Related Closing Costshigher than other lenders (+$338)
National Rate and Closing Cost Star Rating(2.5)

On average, City Lending Inc’s interest rates were higher than those of other lenders (+0.20%). Its loan related closing costs were also higher than those of other lenders, with a difference of +$338. Overall, combining interest rates and closing costs we estimate that City Lending Inc tends to be an expensive lender, and give it a National Rate and Closing Costs Rating of 2.5 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit City Lending Inc, check out its website at:

City Lending Inc’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track City Lending Inc was most active in:

  1. Washington, DC
  2. Baltimore, MD
  3. Stafford Courthouse, VA
  4. Cape Coral, FL
  5. Indianapolis, IN

City Lending Inc’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, City Lending Inc originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.21%+0.25%+0.01%+0.00%+0.03%
Loan Related Closing Cost Difference+$467+$443+$98-$18-$0
Cost Adjusted Rate Difference+0.15%+0.27%+0.02%+0.00%+0.03%
National Star Rating(2.5)(2)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAVA
Interest Rate Difference+0.20%+0.07%+0.00%
Loan Related Closing Cost Difference+$549-$398+$33
Cost Adjusted Rate Difference+0.23%+0.05%+0.00%
Average Star Rating(2.5)(3)(3.5)

As a summary, City Lending Inc is similar to other lenders for Jumbo, USDA and VA purchase mortgages. It is more expensive than other lenders for Conforming and FHA purchase mortgages. For refinancing mortgages, City Lending Inc is similar to other lenders for VA mortgage refinance. It is more expensive than other lenders for Conforming and FHA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about City Lending Inc:

Registered name: City Lending Inc
Registered city and state: VIENNA, VA, 22182
Regulator: Consumer Financial Protection Bureau (CFPB)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for City Lending Inc’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.