Central Bank Mortgage Rates, Fees & InfoProvo, UT
Tax ID: 87-0271990
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewCentral Bank is a smaller bank specializing in loans. Central Bank has a high proportion of conventional loans. Their top markets by origination volume include: Provo, Salt Lake City, Vernal, Ogden, and St. George among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)
Central Bank 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. Central Bank 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.57%||3/24/23|
|30 Year Conventional Refi||6.49%||3/24/23|
|30 Year Cash-out Refi||6.65%||3/24/23|
|15 Year Conventional Purchase||5.82%||3/24/23|
|15 Year Conventional Refi||6.05%||3/24/23|
|15 Year Cash-out Refi||6.05%||3/24/23|
|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.|
Origination Dollar Volume (All Markets)$88,975,000
Central Bank's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.12%.
Relative Fees (Closing Costs)
Central Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,226.
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.
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|
|PROVO-OREM, UT (FHA|USDA|VA)||133||$67,365,000||$506,504||$6,672||5.23%|
|SALT LAKE CITY, UT (FHA|USDA|VA)||15||$9,005,000||$600,333||$5,042||5.98%|
|Outside of Metro Areas||7||$6,695,000||$956,429||$5,533||5.67%|
|Vernal, UT (FHA|USDA|VA)||1||$4,485,000||$4,485,000||$0||5.49%|
|OGDEN-CLEARFIELD, UT (FHA|USDA|VA)||3||$715,000||$238,333||$3,354||4.63%|
|ST. GEORGE, UT (FHA|USDA|VA)||1||$495,000||$495,000||$5,835||3.13%|
|LOGAN, UT-ID (FHA|USDA|VA)||1||$215,000||$215,000||$4,106||3.75%|
We use machine learning to identify the top lenders compared against Central Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Central Bank's most frequently originated type of loan was Conventional, with 161 originations.
For 2022, Central Bank's most frequently cited loan purpose was Home Purchase, with 94 originations. The 2nd most popular reason was Refi, with 33 originations.
For 2022, Central Bank's most frequently cited loan duration was 30 Year, with 79 originations. The 2nd most popular length was 5 Year, with 27 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Central Bank's average total fees were $6,226, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 23 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Central Bank's average interest rate for loans was 4.64%, while their most frequently originated rate bucket for loans was 5-6%, with 49 originations.
2022 saw Central Bank place emphasis on $200k-400k loans with 48 originations, totaling $14,180,000 in origination value.
Central Bank lent most frequently to those with incomes in the $250k+ range, with 24 originations. The second most popular income band? $150k-250k, with 21 originations.
Applicant Debt to Income Ratio
Central Bank lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? <20%, with 15 originations.
Approval RatesTotal approvals of all applications
Central Bank has an average approval rate.
Pick RateApprovals leading to origination
Central Bank has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|