Central Pacific Bank Mortgage Rates, Fees & Info

Honolulu, HI

LEI: 5493005R24FV5DFFXW42

Tax ID: 99-0080213

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Refi and Home Purchase loans. Central Pacific Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Urban Honolulu, Kahului, Hilo, Kapaa, and San Diego among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Central Pacific Bank has an 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 about average 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% 4/28/24
    30 Year Conventional Purchase 6.18% 4/28/24
    30 Year Conventional Refi 6.29% 4/28/24
    30 Year Cash-out Refi 6.42% 4/28/24
    30 Year VA Purchase 5.67% 4/28/24
    30 Year USDA Purchase 6.33% 4/28/24
    15 Year Conventional Purchase 5.91% 4/28/24
    15 Year Conventional Refi 5.99% 4/28/24
    15 Year Cash-out Refi 5.99% 4/28/24
    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

    1,661

    Origination Dollar Volume (All Markets)

    $757,695,000

    Awards

    Central Pacific Bank 30 Year Conventional Loans gold Central Pacific Bank VA Loans bronze Central Pacific Bank 30 Year Conventional Loans silver Central Pacific Bank VA Loans gold
    Show all (4) awards

    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) 1,268 $588,860,000 $464,401 $10,357 3.22%
    KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 169 $65,665,000 $388,550 $12,317 3.37%
    Hilo, HI (FHA|USDA|VA) 154 $57,380,000 $372,597 $5,998 3.42%
    Kapaa, HI (FHA|USDA|VA) 67 $23,775,000 $354,851 $10,988 2.98%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $22,015,000 $7,338,333 $0 3.65%
    Central Pacific Bank's top markets include Urban Honolulu, Kahului, Hilo, Kapaa, and San Diego among others.

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

    University of Hawaii Federal Credit Union
    Similarity Rank: 126
    PACIFIC HOME LOANS, INC.
    Similarity Rank: 152
    ALOHA PACIFIC
    Similarity Rank: 176
    Territorial Savings Bank
    Similarity Rank: 260
    COMPASS HOME LOANS, LLC
    Similarity Rank: 312
    HAWAIIUSA FEDERAL CREDIT UNION
    Similarity Rank: 380
    HAWAIIAN FINANCIAL
    Similarity Rank: 384
    HAWAII STATE FEDERAL CREDIT UNION
    Similarity Rank: 408
    American Savings Bank, FSB
    Similarity Rank: 540
    Central Pacific Bank
    Similarity Rank: 575

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,069 $349,295,000 $326,749 n/a 2.75%
    Conventional 566 $391,670,000 $691,996 $9,589 4.15%
    VA 24 $15,810,000 $658,750 $20,384 3.72%
    USDA 2 $920,000 $460,000 $14,890 4.38%

    For 2022, Central Pacific Bank's most frequently originated type of loan was HELOC, with 1,069 originations. Their 2nd most popular type was Conventional, with 566 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 594 $252,220,000 $424,613 $9,915 2.63%
    Home Purchase 527 $327,575,000 $621,584 $9,586 4.10%
    Home Improvement 258 $79,060,000 $306,434 $0 2.99%
    Other 213 $59,295,000 $278,380 $12,234 2.96%
    Cash Out Refi 69 $39,545,000 $573,116 $12,917 3.71%

    For 2022, Central Pacific Bank's most frequently cited loan purpose was Refi, with 594 originations. The 2nd most popular reason was Home Purchase, with 527 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,601 $692,965,000 $432,833 $10,648 3.22%
    15 Year 28 $8,380,000 $299,286 $5,154 3.39%
    20 Year 15 $3,115,000 $207,667 $2,798 4.45%
    10 Year 10 $30,860,000 $3,086,000 $7,987 3.63%
    5 Year 4 $9,430,000 $2,357,500 $0 5.84%
    Other 2 $11,940,000 $5,970,000 $0 6.00%
    3 Year 1 $1,005,000 $1,005,000 $0 1.75%

    For 2022, Central Pacific Bank's most frequently cited loan duration was 30 Year, with 1,601 originations. The 2nd most popular length was 15 Year, with 28 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 247 $183,675,000 $743,623
    $<1k 128 $74,330,000 $580,703
    $2k-3k 40 $23,200,000 $580,000
    $3k-4k 31 $15,215,000 $490,806
    $4k-5k 31 $19,615,000 $632,742
    $1k-2k 26 $7,530,000 $289,615

    Central Pacific Bank's average total fees were $10,648, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 247 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 562 $266,830,000 $474,786
    <2.5% 404 $148,160,000 $366,733
    2.5-3% 376 $136,420,000 $362,819
    4-5% 200 $122,680,000 $613,400
    5-6% 104 $65,050,000 $625,481
    6-7% 14 $18,360,000 $1,311,429
    7-8% 1 $195,000 $195,000

    During 2022, Central Pacific Bank's average interest rate for loans was 3.22%, while their most frequently originated rate bucket for loans was 3-4%, with 562 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 507 $142,845,000 $281,746 $5,851 3.08%
    $400k-600k 355 $162,695,000 $458,296 $11,034 3.19%
    $600k-1MM 269 $205,545,000 $764,108 $12,481 3.58%
    $100k-200k 259 $35,885,000 $138,552 $3,679 3.06%
    $100,000 or less 149 $9,575,000 $64,262 $1,768 3.18%
    $1MM+ 122 $201,150,000 $1,648,770 $13,878 3.79%

    2022 saw Central Pacific Bank place emphasis on $200k-400k loans with 507 originations, totaling $142,845,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 452 $206,000,000 $455,752 $10,525 3.18%
    $100k-150k 422 $146,120,000 $346,256 $10,714 3.20%
    $250k+ 378 $248,790,000 $658,175 $10,892 3.32%
    $75k-100k 195 $57,135,000 $293,000 $10,798 3.20%
    $50k-75k 123 $27,645,000 $224,756 $7,094 3.31%
    $50k or less 37 $8,725,000 $235,811 $5,451 3.46%

    Central Pacific Bank lent most frequently to those with incomes in the $150k-250k range, with 452 originations. The second most popular income band? $100k-150k, with 422 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    49% 288 $102,580,000 $356,181 $10,875 2.92%
    30-36% 232 $96,240,000 $414,828 $8,854 3.38%
    20-30% 210 $97,460,000 $464,095 $8,499 3.18%
    42% 82 $43,130,000 $525,976 $9,227 3.66%
    40% 78 $35,350,000 $453,205 $11,420 3.47%
    48% 77 $33,495,000 $435,000 $11,970 3.22%
    <20% 73 $26,975,000 $369,521 $9,824 3.06%
    44% 69 $27,995,000 $405,725 $9,080 3.28%
    37% 69 $34,045,000 $493,406 $10,968 3.41%
    39% 63 $27,805,000 $441,349 $9,551 3.29%
    38% 63 $25,315,000 $401,825 $10,303 3.44%
    47% 61 $27,255,000 $446,803 $10,069 3.15%
    41% 57 $27,475,000 $482,018 $10,337 3.59%
    36% 54 $24,530,000 $454,259 $11,680 3.19%
    46% 48 $23,640,000 $492,500 $13,313 3.10%
    45% 47 $23,245,000 $494,574 $9,583 3.07%
    43% 45 $14,055,000 $312,333 $8,434 3.23%
    50-60% 21 $11,485,000 $546,905 $20,893 3.43%
    >60% 12 $9,460,000 $788,333 $0 2.83%

    Central Pacific Bank lent most frequently to those with DTI ratios of 49%, with 288 originations. The next most common DTI ratio? 30-36%, with 232 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 1,015 $428,515,000 $422,182 $10,654 3.19%
    White 343 $164,145,000 $478,557 $9,575 3.46%
    Not provided 134 $61,220,000 $456,866 $9,119 3.24%
    Not applicable 12 $44,870,000 $3,739,167 $0 4.22%
    Native Hawaiian or Islander 88 $30,900,000 $351,136 $8,264 2.93%
    American Indian 15 $5,975,000 $398,333 $4,170 3.31%
    Japanese 16 $5,120,000 $320,000 $3,512 3.27%
    Black 9 $4,705,000 $522,778 $8,964 3.74%
    Filipino 14 $4,650,000 $332,143 $8,875 3.00%
    Chinese 5 $4,425,000 $885,000 $0 1.95%
    Native Hawaiian 4 $1,860,000 $465,000 $0 3.00%
    Korean 4 $1,000,000 $250,000 $20,719 3.66%
    Other Asian 1 $205,000 $205,000 $0 2.75%
    Vietnamese 1 $105,000 $105,000 $0 2.75%

    Approval Rates

    Total approvals of all applications
    76.81%

    Central Pacific Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    86.09%

    Central Pacific Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,661 $757,695,000 $456,168

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,661 $757,695,000 $456,168

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 421 $166,125,000 $394,596 $8,815 2.91%
    40-60% 282 $154,840,000 $549,078 $9,698 3.14%
    60-80% 397 $256,325,000 $645,655 $10,263 3.56%
    80-100% 147 $104,865,000 $713,367 $11,156 3.98%
    Over 100% 8 $5,130,000 $641,250 $24,576 3.86%
    Under 20% 406 $70,410,000 $173,424 $2,516 3.07%