Central Pacific Bank Mortgage Rates, Fees & Info
Honolulu, HILEI: 5493005R24FV5DFFXW42
Tax ID: 99-0080213
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Mortgage Data
Review & Overview
Central Pacific Bank is a smaller bank specializing in Home Purchase and Refi loans. Central Pacific Bank has a high proportion of conventional loans. Their top markets by origination volume include: Urban Honolulu, Kahului, Hilo, and Kapaa among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Central Pacific Bank has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Central Pacific Bank is typically a high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 6.18% | 12/16/24 |
| 30 Year Conventional Refi | 6.29% | 12/16/24 |
| 30 Year Cash-out Refi | 6.42% | 12/16/24 |
| 30 Year VA Purchase | 5.67% | 12/16/24 |
| 30 Year USDA Purchase | 6.33% | 12/16/24 |
| 15 Year Conventional Purchase | 5.91% | 12/16/24 |
| 15 Year Conventional Refi | 5.99% | 12/16/24 |
| 15 Year Cash-out Refi | 5.99% | 12/16/24 |
| 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 Pacific Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Central Pacific Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
628Origination Dollar Volume (All Markets)
$247,540,000Awards
Central Pacific Bank - 2023
Central Pacific Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Central Pacific Bank's average 30 year fixed mortgage rate was
6.08%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.4%.
Relative Fees (Closing Costs)
Central Pacific Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $9,473.
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 |
|---|---|---|---|---|---|
| URBAN HONOLULU, HI (FHA|USDA|VA) | 480 | $194,790,000 | $405,813 | $8,760 | 6.10% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 63 | $27,075,000 | $429,762 | $14,642 | 5.99% |
| Hilo, HI (FHA|USDA|VA) | 66 | $19,190,000 | $290,758 | $4,579 | 6.30% |
| Kapaa, HI (FHA|USDA|VA) | 19 | $6,485,000 | $341,316 | $8,396 | 6.35% |
Similar Lenders
We use machine learning to identify the top lenders compared against Central Pacific Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 6
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 377 | $92,255,000 | $244,708 | n/a | 5.94% |
| Conventional | 240 | $147,260,000 | $613,583 | $8,614 | 6.41% |
| VA | 11 | $8,025,000 | $729,545 | $14,019 | 5.70% |
For 2023, Central Pacific Bank's most frequently originated type of loan was HELOC, with 377 originations. Their 2nd most popular type was Conventional, with 240 originations.
Loan Reason
For 2023, Central Pacific Bank's most frequently cited loan purpose was Home Purchase, with 244 originations. The 2nd most popular reason was Refi, with 166 originations.
Loan Duration/Length
For 2023, Central Pacific Bank's most frequently cited loan duration was 30 Year, with 604 originations. The 2nd most popular length was 20 Year, with 13 originations.
Origination Fees/Closing Costs
Central Pacific Bank's average total fees were $9,473, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 66 originations.
Interest Rates
During 2023, Central Pacific Bank's average interest rate for loans was 6.08%, while their most frequently originated rate bucket for loans was 5-6%, with 234 originations.
Loan Sizing
2023 saw Central Pacific Bank place emphasis on $200k-400k loans with 167 originations, totaling $47,145,000 in origination value.
Applicant Income
Central Pacific Bank lent most frequently to those with incomes in the $150k-250k range, with 182 originations. The second most popular income band? $250k+, with 166 originations.
Applicant Debt to Income Ratio
Central Pacific Bank lent most frequently to those with DTI ratios of 49%, with 129 originations. The next most common DTI ratio? 30-36%, with 85 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications64.57%
Central Pacific Bank has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination77.39%
Central Pacific Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 628 | $247,540,000 | $394,172 |