Central Bank Mortgage Rates, Fees & Info

Provo, UT

LEI: 254900TG3REX549BAZ53

Tax ID: 87-0271990

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Mortgage Data

Review & Overview

Central Bank is a smaller bank specializing in Other, Home Purchase, and Refi loans. Central Bank has a high proportion of conventional loans. Their top markets by origination volume include: Provo, Salt Lake City, Heber, St. George, and Ogden among others. We have data for 14 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.

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 6.57% 5/13/24
30 Year Conventional Refi 6.49% 5/13/24
30 Year Cash-out Refi 6.65% 5/13/24
15 Year Conventional Purchase 5.82% 5/13/24
15 Year Conventional Refi 6.05% 5/13/24
15 Year Cash-out Refi 6.05% 5/13/24
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.

Central Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Central Bank. 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

288

Origination Dollar Volume (All Markets)

$95,900,000

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
PROVO-OREM, UT (FHA|USDA|VA) 234 $71,770,000 $306,709 $0 0.00%
SALT LAKE CITY, UT (FHA|USDA|VA) 19 $9,235,000 $486,053 $0 0.00%
Heber, UT (FHA|USDA|VA) 9 $7,225,000 $802,778 $0 0.00%
ST. GEORGE, UT (FHA|USDA|VA) 7 $2,665,000 $380,714 $0 0.00%
Outside of Metro Areas 8 $2,060,000 $257,500 $0 0.00%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 3 $795,000 $265,000 $0 0.00%
IDAHO FALLS, ID (FHA|USDA|VA) 1 $545,000 $545,000 $0 0.00%
ANCHORAGE, AK (FHA|USDA|VA) 1 $515,000 $515,000 $0 0.00%
TWIN FALLS, ID (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
LUBBOCK, TX (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
Vernal, UT (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
Evanston, WY (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
TOLEDO, OH (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Central Bank's top markets include Provo, Salt Lake City, Heber, St. George, and Ogden among others.

Their top states include:
  • Utah (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Alaska (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Similar Lenders

    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.

    CYPRUS Federal Credit Union
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    GRANITE FEDERAL CREDIT UNION
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    HOMEAMERICAN MORTGAGE CORPORATION
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    Similarity Rank: 1560
    Utah Mortgage Loan Corporation
    Similarity Rank: 1743

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 288 $95,900,000 $332,986 $0 0.00%

    For 2023, Central Bank's most frequently originated type of loan was Conventional, with 288 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 104 $24,860,000 $239,038 $0 0.00%
    Home Purchase 86 $42,480,000 $493,953 $0 0.00%
    Refi 56 $19,710,000 $351,964 $0 0.00%
    Home Improvement 35 $6,825,000 $195,000 $0 0.00%
    Cash Out Refi 7 $2,025,000 $289,286 $0 0.00%

    For 2023, Central Bank's most frequently cited loan purpose was Other, with 104 originations. The 2nd most popular reason was Home Purchase, with 86 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 288 $95,900,000 $332,986 $0 0.00%

    For 2023, Central Bank's most frequently cited loan duration was Other, with 288 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 90 $24,180,000 $268,667 $0 0.00%
    $100k-200k 70 $9,760,000 $139,429 $0 0.00%
    $100,000 or less 55 $2,965,000 $53,909 $0 0.00%
    $600k-1MM 29 $21,185,000 $730,517 $0 0.00%
    $400k-600k 28 $13,680,000 $488,571 $0 0.00%
    $1MM+ 16 $24,130,000 $1,508,125 $0 0.00%

    2023 saw Central Bank place emphasis on $200k-400k loans with 90 originations, totaling $24,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 77 $44,145,000 $573,312 $0 0.00%
    $150k-250k 66 $19,160,000 $290,303 $0 0.00%
    $100k-150k 49 $12,355,000 $252,143 $0 0.00%
    $50k-75k 30 $4,130,000 $137,667 $0 0.00%
    $75k-100k 28 $4,860,000 $173,571 $0 0.00%
    $50k or less 17 $1,655,000 $97,353 $0 0.00%

    Central Bank lent most frequently to those with incomes in the $250k+ range, with 77 originations. The second most popular income band? $150k-250k, with 66 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 288 $95,900,000 $332,986 $0 0.00%

    Central Bank lent most frequently to those with DTI ratios of Exempt%, with 288 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 270 $86,830,000 $321,593 $0 0.00%
    Not applicable 10 $6,990,000 $699,000 $0 0.00%
    Not provided 3 $865,000 $288,333 $0 0.00%
    Native Hawaiian or Islander 2 $850,000 $425,000 $0 0.00%
    Asian 2 $330,000 $165,000 $0 0.00%
    American Indian 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.37%

    Central Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.15%

    Central Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 288 $95,900,000 $332,986

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    288 $95,900,000 $332,986