Central Pacific Bank Mortgage Rates, Fees & Info

Honolulu, HI

LEI: 5493005R24FV5DFFXW42

Tax ID: 99-0080213

5 stars - Updated: 11/17/24 - out of 5 stars, based on 25 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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.

    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
    Home Equity Line of Credit (HELOC) 6.27% 11/17/24
    30 Year Conventional Purchase 6.18% 11/17/24
    30 Year Conventional Refi 6.29% 11/17/24
    30 Year Cash-out Refi 6.42% 11/17/24
    30 Year VA Purchase 5.67% 11/17/24
    30 Year USDA Purchase 6.33% 11/17/24
    15 Year Conventional Purchase 5.91% 11/17/24
    15 Year Conventional Refi 5.99% 11/17/24
    15 Year Cash-out Refi 5.99% 11/17/24
    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

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

    This is not an official calculator from Central Pacific 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

    628

    Origination Dollar Volume (All Markets)

    $247,540,000
    Show all (5) awards

    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%
    Central Pacific Bank's top markets include Urban Honolulu, Kahului, Hilo, and Kapaa among others.

    Their top states include:
  • Hawaii (FHA|USDA|VA)

    • 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.

    Maui County Federal Credit Union
    Similarity Rank: 6
    University of Hawaii Federal Credit Union
    Similarity Rank: 39
    HAWAII STATE FEDERAL CREDIT UNION
    Similarity Rank: 112
    HAWAIIUSA FEDERAL CREDIT UNION
    Similarity Rank: 112
    Territorial Savings Bank
    Similarity Rank: 124
    Central Pacific Bank
    Similarity Rank: 148
    HAWAIIAN FINANCIAL
    Similarity Rank: 152
    American Savings Bank, FSB
    Similarity Rank: 184
    First Hawaiian Bank
    Similarity Rank: 395
    Bank of Hawaii
    Similarity Rank: 450

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 244 $149,130,000 $611,189 $9,088 6.26%
    Refi 166 $54,000,000 $325,301 $4,868 5.99%
    Home Improvement 109 $19,785,000 $181,514 $2,384 5.95%
    Other 102 $21,530,000 $211,078 $7,866 6.13%
    Cash Out Refi 7 $3,095,000 $442,143 $11,062 6.48%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 604 $237,080,000 $392,517 $9,473 6.08%
    20 Year 13 $1,825,000 $140,385 $658 6.77%
    10 Year 5 $5,275,000 $1,055,000 $0 6.78%
    15 Year 4 $790,000 $197,500 $2,546 7.13%
    5 Year 1 $885,000 $885,000 $0 10.50%
    Other 1 $1,685,000 $1,685,000 $0 9.00%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 66 $46,560,000 $705,455
    $5k+ 58 $44,670,000 $770,172
    $4k-5k 28 $15,630,000 $558,214
    $2k-3k 23 $9,515,000 $413,696
    $3k-4k 13 $6,145,000 $472,692
    $1k-2k 8 $2,240,000 $280,000

    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

    Loan Rate Originations Total Value Average Loan
    5-6% 234 $105,780,000 $452,051
    6-7% 152 $59,430,000 $390,987
    4-5% 98 $26,950,000 $275,000
    7-8% 95 $38,985,000 $410,368
    Over 8% 35 $11,395,000 $325,571
    3-4% 14 $5,000,000 $357,143

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 167 $47,145,000 $282,305 $6,670 6.04%
    $100k-200k 121 $16,665,000 $137,727 $3,062 6.12%
    $400k-600k 106 $49,930,000 $471,038 $8,132 6.23%
    $100,000 or less 100 $5,970,000 $59,700 $1,560 6.01%
    $600k-1MM 90 $67,820,000 $753,556 $11,530 6.22%
    $1MM+ 44 $60,010,000 $1,363,864 $12,444 6.17%

    2023 saw Central Pacific Bank place emphasis on $200k-400k loans with 167 originations, totaling $47,145,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 182 $72,780,000 $399,890 $10,530 6.15%
    $250k+ 166 $101,950,000 $614,157 $7,977 6.07%
    $100k-150k 130 $39,240,000 $301,846 $10,043 6.08%
    $75k-100k 69 $11,615,000 $168,333 $6,864 6.03%
    $50k-75k 48 $8,350,000 $173,958 $5,777 6.24%
    $50k or less 21 $3,825,000 $182,143 $11,344 6.45%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    49% 129 $36,905,000 $286,085 $10,460 5.89%
    30-36% 85 $29,115,000 $342,529 $8,205 6.16%
    20-30% 57 $19,765,000 $346,754 $6,782 5.85%
    44% 36 $17,460,000 $485,000 $10,911 6.45%
    43% 29 $10,055,000 $346,724 $7,946 6.41%
    41% 28 $15,800,000 $564,286 $9,405 6.02%
    <20% 26 $11,460,000 $440,769 $4,903 6.22%
    42% 26 $16,260,000 $625,385 $9,896 6.44%
    46% 24 $11,290,000 $470,417 $12,148 6.29%
    39% 23 $9,045,000 $393,261 $10,520 6.38%
    45% 23 $9,595,000 $417,174 $10,582 6.04%
    47% 22 $8,890,000 $404,091 $6,619 6.24%
    36% 22 $7,330,000 $333,182 $4,894 5.80%
    38% 19 $6,005,000 $316,053 $4,898 6.16%
    48% 19 $8,125,000 $427,632 $13,962 6.13%
    37% 19 $6,125,000 $322,368 $5,426 6.33%
    >60% 15 $8,385,000 $559,000 $12,893 5.76%
    40% 14 $6,330,000 $452,143 $8,800 6.41%
    50-60% 6 $2,900,000 $483,333 $9,085 5.76%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 398 $157,040,000 $394,573 $8,781 6.11%
    White 108 $43,010,000 $398,241 $6,784 6.24%
    Not provided 55 $24,835,000 $451,545 $14,421 5.90%
    Native Hawaiian or Islander 31 $9,015,000 $290,806 $12,243 5.90%
    Not applicable 4 $5,600,000 $1,400,000 $0 7.16%
    Japanese 10 $3,190,000 $319,000 $0 6.01%
    American Indian 6 $1,810,000 $301,667 $1,303 6.00%
    Filipino 7 $1,285,000 $183,571 $0 6.92%
    Black 3 $615,000 $205,000 $0 4.97%
    Native Hawaiian 1 $605,000 $605,000 $0 7.85%
    Chinese 2 $250,000 $125,000 $0 6.83%
    Guamanian 1 $185,000 $185,000 $0 5.50%
    Samoan 1 $65,000 $65,000 $0 5.45%
    Korean 1 $35,000 $35,000 $0 8.10%

    Approval Rates

    Total approvals of all applications
    64.57%

    Central Pacific Bank has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    77.39%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    628 $247,540,000 $394,172

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 151 $49,255,000 $326,192 $8,039 6.01%
    40-60% 87 $48,495,000 $557,414 $8,874 6.22%
    60-80% 123 $81,815,000 $665,163 $9,542 6.22%
    80-100% 51 $40,985,000 $803,627 $9,890 6.38%
    Over 100% 2 $1,490,000 $745,000 $27,842 5.13%
    Under 20% 214 $25,500,000 $119,159 $1,674 6.04%