Century Next Bank Mortgage Rates, Fees & Info

Ruston, LA

LEI: 5493005EWJNDWPLNG328

Tax ID: 72-0306115

5 stars - Updated: 5/13/24 - out of 5 stars, based on 14 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Review & Overview

Century Next Bank is a smaller bank specializing in Home Purchase and Refi loans. Century Next Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Monroe, Ruston, Alexandria, Gulfport, and Oxford among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Century Next Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Century Next 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 relatively high 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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.52% 5/13/24
30 Year Conventional Refi 6.49% 5/13/24
30 Year Cash-out Refi 6.70% 5/13/24
30 Year FHA Purchase 6.82% 5/13/24
30 Year VA Purchase 6.65% 5/13/24
30 Year USDA Purchase 6.36% 5/13/24
15 Year Conventional Purchase 6.13% 5/13/24
15 Year Conventional Refi 5.76% 5/13/24
15 Year Cash-out Refi 5.76% 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.

Century Next Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Century Next 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

187

Origination Dollar Volume (All Markets)

$31,505,000

Awards

Century Next Bank 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Century Next Bank's average 30 year fixed mortgage rate was 6.38%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.1%.

Relative Fees (Closing Costs)

Century Next Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $6,332.

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 $9,089.

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
MONROE, LA (FHA|USDA|VA) 90 $15,900,000 $176,667 $5,371 7.97%
Ruston, LA (FHA|USDA|VA) 60 $10,750,000 $179,167 $5,100 7.34%
Outside of Metro Areas 26 $2,570,000 $98,846 $2,639 7.94%
ALEXANDRIA, LA (FHA|USDA|VA) 2 $1,000,000 $500,000 $0 7.85%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $375,000 $375,000 $0 8.45%
Oxford, MS (FHA|USDA|VA) 1 $305,000 $305,000 $0 8.70%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $155,000 $155,000 $4,686 7.25%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 2 $150,000 $75,000 $0 9.45%
HOT SPRINGS, AR (FHA|USDA|VA) 1 $145,000 $145,000 $0 8.00%
El Dorado, AR (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.00%
Minden, LA (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.95%
Century Next Bank's top markets include Monroe, Ruston, Alexandria, Gulfport, and Oxford among others.

Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Century Next Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Century Next Bank
    Similarity Rank: 36
    CENTRIC
    Similarity Rank: 48
    DSLD MORTGAGE, LLC
    Similarity Rank: 126
    Eagle Bank and Trust Company
    Similarity Rank: 1653
    Origin Bank
    Similarity Rank: 2145
    First Horizon Bank
    Similarity Rank: 2827
    GMFS LLC
    Similarity Rank: 3520
    Mortgage Research Center, LLC
    Similarity Rank: 3672
    BancorpSouth
    Similarity Rank: 3680
    Assurance Financial Group, L.L.C.
    Similarity Rank: 4914

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 179 $29,705,000 $165,950 $4,066 7.86%
    FHA 5 $1,185,000 $237,000 $9,756 6.05%
    USDA 3 $615,000 $205,000 $6,034 5.83%

    For 2023, Century Next Bank's most frequently originated type of loan was Conventional, with 179 originations. Their 2nd most popular type was FHA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 89 $18,095,000 $203,315 $5,814 7.45%
    Refi 81 $11,525,000 $142,284 $1,751 8.15%
    Home Improvement 8 $990,000 $123,750 $1,427 8.38%
    Other 5 $305,000 $61,000 $2,399 8.08%
    Cash Out Refi 4 $590,000 $147,500 $5,161 6.09%

    For 2023, Century Next Bank's most frequently cited loan purpose was Home Purchase, with 89 originations. The 2nd most popular reason was Refi, with 81 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 54 $12,330,000 $228,333 $6,332 6.38%
    Other 48 $6,740,000 $140,417 $1,928 8.34%
    3 Year 39 $6,515,000 $167,051 $269 8.46%
    5 Year 28 $3,050,000 $108,929 $1,081 8.67%
    1 Year 11 $1,545,000 $140,455 $0 8.46%
    15 Year 5 $785,000 $157,000 $4,632 6.10%
    20 Year 2 $540,000 $270,000 $5,330 7.23%

    For 2023, Century Next Bank's most frequently cited loan duration was 30 Year, with 54 originations. The 2nd most popular length was Other, with 48 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 25 $2,105,000 $84,200
    $2k-3k 18 $3,150,000 $175,000
    $3k-4k 13 $3,505,000 $269,615
    $4k-5k 12 $4,200,000 $350,000
    $1k-2k 6 $630,000 $105,000
    $5k+ 2 $900,000 $450,000

    Century Next Bank's average total fees were $6,332, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 25 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 97 $13,395,000 $138,093
    6-7% 37 $8,065,000 $217,973
    7-8% 31 $4,995,000 $161,129
    5-6% 22 $5,050,000 $229,545

    During 2023, Century Next Bank's average interest rate for loans was 6.38%, while their most frequently originated rate bucket for loans was Over 8%, with 97 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 68 $3,430,000 $50,441 $1,587 8.40%
    $100k-200k 66 $9,540,000 $144,545 $3,975 7.58%
    $200k-400k 43 $12,205,000 $283,837 $6,622 7.19%
    $400k-600k 8 $3,640,000 $455,000 $7,437 7.42%
    $1MM+ 1 $1,735,000 $1,735,000 $0 8.70%
    $600k-1MM 1 $955,000 $955,000 $0 6.50%

    2023 saw Century Next Bank place emphasis on $100,000 or less loans with 68 originations, totaling $3,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 29 $5,455,000 $188,103 $5,005 7.04%
    $75k-100k 18 $3,220,000 $178,889 $4,215 7.09%
    $50k-75k 17 $2,195,000 $129,118 $5,103 7.48%
    $150k-250k 15 $3,365,000 $224,333 $4,856 7.31%
    $250k+ 15 $2,565,000 $171,000 $4,337 7.73%
    $50k or less 13 $1,075,000 $82,692 $3,130 7.29%

    Century Next Bank lent most frequently to those with incomes in the $100k-150k range, with 29 originations. The second most popular income band? $75k-100k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 22 $3,540,000 $160,909 $3,761 6.98%
    <20% 11 $1,775,000 $161,364 $3,726 7.47%
    30-36% 10 $1,890,000 $189,000 $4,912 7.39%
    44% 8 $1,780,000 $222,500 $7,436 6.55%
    39% 8 $1,310,000 $163,750 $3,414 7.72%
    36% 4 $1,030,000 $257,500 $6,169 5.97%
    38% 4 $1,100,000 $275,000 $7,347 6.31%
    40% 4 $760,000 $190,000 $4,958 7.37%
    41% 3 $445,000 $148,333 $3,285 7.16%
    37% 3 $325,000 $108,333 $3,219 7.98%
    46% 3 $785,000 $261,667 $8,304 5.79%
    48% 2 $430,000 $215,000 $5,138 7.47%
    43% 2 $220,000 $110,000 $3,615 6.81%
    42% 1 $285,000 $285,000 $6,634 6.62%
    45% 1 $145,000 $145,000 $0 6.25%
    50-60% 1 $165,000 $165,000 $269 8.00%
    47% 1 $175,000 $175,000 $4,476 6.38%

    Century Next Bank lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? <20%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 91 $15,235,000 $167,418 $4,443 7.24%
    Not applicable 78 $13,370,000 $171,410 $0 8.43%
    Black 13 $1,815,000 $139,615 $4,689 7.89%
    Asian 1 $305,000 $305,000 $0 8.70%
    Other Asian 1 $275,000 $275,000 $6,435 5.25%
    Asian Indian 1 $265,000 $265,000 $6,672 6.62%
    Not provided 2 $240,000 $120,000 $0 7.66%

    Approval Rates

    Total approvals of all applications
    98.52%

    Century Next Bank 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
    93.05%

    Century Next Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 187 $31,505,000 $168,476

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    187 $31,505,000 $168,476

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $2,535,000 $133,421 $3,215 7.66%
    40-60% 22 $3,370,000 $153,182 $3,774 7.89%
    60-80% 72 $12,350,000 $171,528 $4,305 7.75%
    80-100% 54 $11,480,000 $212,593 $6,119 7.54%
    Over 100% 6 $1,060,000 $176,667 $4,911 7.98%
    Under 20% 13 $645,000 $49,615 $952 8.80%