Centra Credit Union Mortgage Rates, Fees & Info

Columbus, IN

LEI: 5493007LUU2DLS755O60

Tax ID: 35-0885381

5 stars - out of 5 stars, based on 46 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Centra Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Centra Credit Union has a high proportion of conventional loans. Their top markets include Columbus, Louisville/jefferson County, Indianapolis, Seymour, and North Vernon among others. Centra Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Centra Credit Union is typically a low fee lendor.


Originations

2,156

Origination Dollar Volume (All Markets)

$269,600,000

Awards

Centra Credit Union 30 Year Conventional Loans gold Centra Credit Union 30 Year Conventional Loans gold Centra Credit Union 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Centra Credit Union's average 30 year fixed rate mortgage of loans were 3.09%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.06%.

Relative Fees

Centra Credit Union's average total fees for a 30 year fixed rate mortgage are $2,907.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
COLUMBUS, IN (FHA|USDA|VA) 599 $80,075,000 $133,681 $2,780 2.42%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 466 $67,440,000 $144,721 $2,452 2.60%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 319 $41,695,000 $130,705 $2,609 2.54%
Seymour, IN (FHA|USDA|VA) 202 $23,190,000 $114,802 $2,712 2.52%
North Vernon, IN (FHA|USDA|VA) 176 $17,370,000 $98,693 $2,403 2.79%
Scottsburg, IN (FHA|USDA|VA) 163 $15,025,000 $92,178 $2,357 2.40%
Madison, IN (FHA|USDA|VA) 66 $4,770,000 $72,273 $2,044 2.44%
Greensburg, IN (FHA|USDA|VA) 57 $4,335,000 $76,053 $2,265 2.71%
Outside of Metro Areas 37 $3,265,000 $88,243 $2,185 2.72%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 12 $1,340,000 $111,667 $3,579 2.90%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $1,200,000 $600,000 $5,519 2.88%
BLOOMINGTON, IN (FHA|USDA|VA) 6 $920,000 $153,333 $3,611 2.20%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $785,000 $261,667 $2,184 1.58%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $730,000 $365,000 $4,153 3.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $465,000 $465,000 $4,348 2.88%
FORT WAYNE, IN (FHA|USDA|VA) 3 $425,000 $141,667 $2,218 3.83%
Sevierville, TN (FHA|USDA|VA) 2 $390,000 $195,000 $3,445 1.81%
PEORIA, IL (FHA|USDA|VA) 1 $365,000 $365,000 $2,156 2.50%
PANAMA CITY, FL (FHA|USDA|VA) 1 $345,000 $345,000 $3,588 3.13%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 2 $310,000 $155,000 $0 1.24%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,376 2.38%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $305,000 $305,000 $4,127 3.25%
ROCKY MOUNT, NC (FHA|USDA|VA) 2 $300,000 $150,000 $2,572 3.06%
Warren, PA (FHA|USDA|VA) 3 $295,000 $98,333 $3,219 2.25%
KOKOMO, IN (FHA|USDA|VA) 1 $285,000 $285,000 $0 3.50%
Salem, OH (FHA|USDA|VA) 1 $275,000 $275,000 $5,526 3.13%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,898 3.00%
TERRE HAUTE, IN (FHA|USDA|VA) 1 $245,000 $245,000 $3,314 3.25%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $240,000 $120,000 $2,427 2.00%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $235,000 $235,000 $3,237 2.50%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $215,000 $215,000 $1,937 2.25%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $190,000 $95,000 $3,016 2.12%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $185,000 $185,000 $3,773 3.13%
Vincennes, IN (FHA|USDA|VA) 1 $185,000 $185,000 $1,935 2.63%
Bedford, IN (FHA|USDA|VA) 1 $165,000 $165,000 $2,788 3.25%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $155,000 $155,000 $0 1.24%
New Castle, IN (FHA|USDA|VA) 3 $155,000 $51,667 $2,437 2.25%
MADISON, WI (FHA|USDA|VA) 2 $150,000 $75,000 $3,968 3.56%
Celina, OH (FHA|USDA|VA) 1 $145,000 $145,000 $2,643 2.50%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $135,000 $135,000 $4,015 3.25%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 1 $125,000 $125,000 $2,322 3.13%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $125,000 $125,000 $2,943 3.00%
ERIE, PA (FHA|USDA|VA) 1 $105,000 $105,000 $3,011 2.25%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $105,000 $105,000 $0 1.24%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $85,000 $85,000 $2,345 8.00%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $75,000 $75,000 $0 1.24%
Warsaw, IN (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.05%
Connersville, IN (FHA|USDA|VA) 1 $35,000 $35,000 $663 4.99%

Centra Credit Union's top markets include Columbus, Louisville/jefferson County, Indianapolis, Seymour, and North Vernon among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,156 $269,600,000 $125,046 $2,593 2.54%

For the 2021 period, Centra Credit Union's most frequently originated loan type of loans were Conventional, with 2,156 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 502 $70,490,000 $140,418 $2,882 2.82%
Refi 481 $71,795,000 $149,262 $2,578 2.75%
Home Improvement 399 $25,455,000 $63,797 $739 2.13%
Home Purchase 393 $72,615,000 $184,771 $2,760 2.97%
Other 381 $29,245,000 $76,759 $1,849 1.89%

For the 2021, Centra Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 502 originations. The 2nd most popular reason of loans were Refi, with 481 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
10 Year 1,002 $81,240,000 $81,078 $1,450 2.04%
30 Year 651 $112,445,000 $172,727 $2,907 3.09%
15 Year 397 $61,875,000 $155,856 $2,498 2.75%
20 Year 91 $12,475,000 $137,088 $3,053 2.88%
5 Year 9 $495,000 $55,000 $414 4.53%
Other 6 $1,070,000 $178,333 $3,304 3.73%

For the 2021, Centra Credit Union's most frequently cited loan length of loans were 10 Year, with 1,002 originations. The 2nd most popular length of loans were 30 Year, with 651 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 685 $88,015,000 $128,489
$1k-2k 406 $55,520,000 $136,749
$2k-3k 149 $28,525,000 $191,443
$3k-4k 65 $15,855,000 $243,923
$5k+ 8 $2,920,000 $365,000

$2,907 of loans were Centra Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 685 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 1,071 $108,095,000 $100,929
3-4% 487 $85,135,000 $174,815
2.5-3% 428 $66,150,000 $154,556
4-5% 104 $7,410,000 $71,250
5-6% 57 $2,325,000 $40,789
6-7% 6 $300,000 $50,000
7-8% 3 $185,000 $61,667

During 2021, Centra Credit Union's average interest rate of loans were 3.09%, while their most frequently originated rate bucket of loans were <2.5%, with 1,071 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 1,071 $57,485,000 $53,674 $1,856 2.37%
$100k-200k 770 $108,440,000 $140,831 $2,748 2.72%
$200k-400k 270 $70,570,000 $261,370 $3,502 2.66%
$400k-600k 34 $16,300,000 $479,412 $3,543 2.61%
$600k-1MM 6 $4,490,000 $748,333 $3,407 2.64%
$1MM+ 5 $12,315,000 $2,463,000 $6,280 3.43%

2021 saw Centra Credit Union place emphasis on $100,000 or less loans with 1,071 originations, totaling $57,485,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 555 $50,025,000 $90,135 $2,334 2.71%
$50k-75k 517 $53,585,000 $103,646 $2,539 2.57%
$75k-100k 420 $48,710,000 $115,976 $2,730 2.50%
$100k-150k 407 $53,995,000 $132,666 $2,715 2.39%
$150k-250k 156 $27,340,000 $175,256 $3,147 2.20%
$250k+ 53 $19,035,000 $359,151 $2,955 2.27%

Centra Credit Union lent most frequently to those with incomes in the $50k or less range, with 555 originations. The second most popular income band? $50k-75k, with 517 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 626 $75,690,000 $120,911 $2,686 2.52%
<20% 594 $66,450,000 $111,869 $2,451 2.19%
30-36% 359 $42,455,000 $118,259 $2,510 2.70%
42% 56 $5,670,000 $101,250 $2,339 3.40%
37% 55 $5,565,000 $101,182 $2,575 2.35%
43% 51 $6,775,000 $132,843 $2,733 2.60%
36% 50 $6,280,000 $125,600 $2,522 2.69%
40% 50 $5,410,000 $108,200 $2,653 2.79%
41% 49 $6,145,000 $125,408 $2,551 3.00%
38% 48 $6,000,000 $125,000 $2,801 2.92%
39% 40 $5,300,000 $132,500 $2,583 2.78%
45% 26 $3,370,000 $129,615 $2,440 2.74%
44% 25 $3,535,000 $141,400 $2,505 2.72%
46% 20 $2,270,000 $113,500 $2,760 2.80%
47% 18 $4,080,000 $226,667 $3,585 2.55%
50-60% 13 $1,555,000 $119,615 $2,570 2.37%
49% 12 $3,110,000 $259,167 $3,590 2.96%
48% 11 $1,575,000 $143,182 $2,902 2.35%
>60% 6 $1,590,000 $265,000 $3,103 2.75%

Centra Credit Union lent most frequently to those with DTI ratios of 20-30%, with 626 originations. The next most common DTI ratio? <20%, with 594 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,972 $235,980,000 $119,665 $2,610 2.51%
Not applicable 21 $13,575,000 $646,429 $0 3.93%
Not provided 90 $11,080,000 $123,111 $2,368 2.59%
Black 49 $4,815,000 $98,265 $2,350 3.10%
Asian 13 $2,725,000 $209,615 $2,905 2.72%
Asian Indian 2 $560,000 $280,000 $3,593 2.63%
American Indian 5 $405,000 $81,000 $1,796 2.72%
Filipino 1 $215,000 $215,000 $2,638 3.13%
Native Hawaiian 2 $200,000 $100,000 $0 1.24%
Guamanian 1 $45,000 $45,000 $0 1.24%

Approval Rates

Total approvals of all applications
91.60%

Centra Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
74.94%

Centra Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
0.0 822 $65,190,000 $79,307
NA 1,334 $204,410,000 $153,231

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,156 $269,600,000 $125,046

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 450 $33,240,000 $73,867 $1,694 2.25%
40-60% 421 $52,485,000 $124,667 $2,464 2.70%
60-80% 579 $106,585,000 $184,085 $3,033 2.83%
80-100% 335 $64,435,000 $192,343 $2,829 2.88%
Under 20% 371 $12,855,000 $34,650 $692 1.95%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Central Mortgage Funding, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%