Center Street Lending Viii Mortgage Rates, Fees & Info
SACRAMENTO, CALEI: 5493001XZBZCQEIYKY53
Tax ID: 84-2416060
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Mortgage Data
Review & Overview
Center Street Lending Viii is a smaller mortgage company specializing in Home Purchase and NA loans. Center Street Lending Viii has a high proportion of conventional loans.Center Street Lending Viii 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. They typically have relatively high rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 11/22/24 |
| 30 Year Conventional Refi | 6.27% | 11/22/24 |
| 30 Year Cash-out Refi | 6.27% | 11/22/24 |
| 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. | ||
Center Street Lending Viii Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
400Origination Dollar Volume (All Markets)
$306,370,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 400 | $306,370,000 | $765,925 | $0 | 8.94% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 400 | $306,370,000 | $765,925 | $0 | 8.94% |
For 2020, Center Street Lending Viii's most frequently originated type of loan was Conventional, with 400 originations.
Loan Reason
For 2020, Center Street Lending Viii's most frequently cited loan purpose was Home Purchase, with 190 originations. The 2nd most popular reason was NA, with 125 originations.
Loan Duration/Length
For 2020, Center Street Lending Viii's most frequently cited loan duration was Other, with 249 originations. The 2nd most popular length was 30+ year, with 142 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 351 | $274,225,000 | $781,268 |
| 7-8% | 42 | $27,160,000 | $646,667 |
| 6-7% | 7 | $4,985,000 | $712,143 |
During 2020, Center Street Lending Viii's average interest rate for loans was 8.55%, while their most frequently originated rate bucket for loans was Over 8%, with 351 originations.
Loan Sizing
2020 saw Center Street Lending Viii place emphasis on $200k-400k loans with 112 originations, totaling $33,670,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 366 | $280,450,000 | $766,257 | $0 | 8.95% |
| Asian | 33 | $25,795,000 | $781,667 | $0 | 8.79% |
| Black | 1 | $125,000 | $125,000 | $0 | 9.50% |
Approval Rates
Total approvals of all applications94.09%
Center Street Lending Viii has an average approval rate.
Pick Rate
Approvals leading to origination51.75%
Center Street Lending Viii 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 |
|---|---|---|---|
| Exempt | 400 | $306,370,000 | $765,925 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 12 | $4,630,000 | $385,833 |
| Single Family (1-4 Units):Site-Built | 388 | $301,740,000 | $777,680 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| CENTERSTATE BANK CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
| CENTERSTATE BANK CORPORATION | Conventional home mortgage | Trouble during payment process | 2 | 50.0% |
| CENTERSTATE BANK CORPORATION | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |