Centra Credit Union Mortgage Rates, Fees & Info

Columbus, IN

LEI: 5493007LUU2DLS755O60

Tax ID: 35-0885381

5 stars - Updated: 4/14/24 - out of 5 stars, based on 42 reviews

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

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Mortgage Data

Review & Overview

Centra Credit Union is a smaller credit union specializing in Home Purchase loans. Centra Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Louisville, Indianapolis, North Vernon, and Seymour among others. We have data for 41 markets. (Some data included below & more in-depth data is available with an active subscription.)

Centra Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Centra Credit Union is typically a low 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) 4.77% 4/14/24
30 Year Conventional Purchase 7.02% 4/14/24
30 Year Conventional Refi 6.67% 4/14/24
30 Year Cash-out Refi 6.83% 4/14/24
15 Year Conventional Purchase 6.25% 4/14/24
15 Year Conventional Refi 6.47% 4/14/24
15 Year Cash-out Refi 6.47% 4/14/24
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.

Centra Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Centra Credit Union. 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

1,775

Origination Dollar Volume (All Markets)

$202,725,000
Show all (13) awards

Relative Rate

Centra Credit Union's average 30 year fixed mortgage rate was 6.45%.

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

This yields a difference of -0.03%.

Relative Fees (Closing Costs)

Centra Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,793.

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
COLUMBUS, IN (FHA|USDA|VA) 417 $54,905,000 $131,667 $2,118 6.64%
LOUISVILLE, KY (FHA|USDA|VA) 422 $42,910,000 $101,682 $1,457 6.62%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 280 $39,090,000 $139,607 $1,742 6.61%
North Vernon, IN (FHA|USDA|VA) 136 $13,800,000 $101,471 $1,688 6.76%
Seymour, IN (FHA|USDA|VA) 132 $13,500,000 $102,273 $2,071 6.66%
Scottsburg, IN (FHA|USDA|VA) 145 $13,165,000 $90,793 $1,556 6.76%
Greensburg, IN (FHA|USDA|VA) 66 $6,720,000 $101,818 $2,188 6.43%
Madison, IN (FHA|USDA|VA) 68 $5,210,000 $76,618 $1,512 6.53%
Outside of Metro Areas 29 $3,105,000 $107,069 $2,201 6.56%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 16 $1,240,000 $77,500 $2,822 6.64%
BLOOMINGTON, IN (FHA|USDA|VA) 6 $1,220,000 $203,333 $3,069 6.37%
Bedford, IN (FHA|USDA|VA) 6 $990,000 $165,000 $2,637 6.85%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 10 $830,000 $83,000 $2,687 6.72%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $615,000 $205,000 $5,451 5.54%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $530,000 $265,000 $5,443 6.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $520,000 $260,000 $693 7.62%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $475,000 $475,000 $3,547 6.38%
Warren, PA (FHA|USDA|VA) 6 $440,000 $73,333 $2,065 6.18%
Logansport, IN (FHA|USDA|VA) 1 $335,000 $335,000 $0 7.50%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $305,000 $305,000 $0 4.99%
New Castle, IN (FHA|USDA|VA) 3 $285,000 $95,000 $2,568 6.71%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $265,000 $265,000 $0 8.46%
Glasgow, KY (FHA|USDA|VA) 2 $230,000 $115,000 $0 7.00%
YUMA, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $3,542 6.25%
Bardstown, KY (FHA|USDA|VA) 1 $195,000 $195,000 $3,810 6.88%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $195,000 $195,000 $0 6.75%
TERRE HAUTE, IN (FHA|USDA|VA) 2 $190,000 $95,000 $2,487 7.81%
Decatur, IN (FHA|USDA|VA) 1 $185,000 $185,000 $2,907 5.63%
Richmond-Berea, KY (FHA|USDA|VA) 1 $175,000 $175,000 $2,978 7.13%
GREEN BAY, WI (FHA|USDA|VA) 2 $170,000 $85,000 $2,660 6.12%
SPRINGFIELD, OH (FHA|USDA|VA) 1 $135,000 $135,000 $3,467 5.38%
Meadville, PA (FHA|USDA|VA) 1 $125,000 $125,000 $3,552 6.63%
Somerset, KY (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.99%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.99%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.99%
ROCKFORD, IL (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.50%
Tiffin, OH (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.99%
FORT WAYNE, IN (FHA|USDA|VA) 1 $45,000 $45,000 $643 6.49%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.99%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $35,000 $35,000 $818 9.24%
PITTSBURGH, PA (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.99%
Centra Credit Union's top markets include Columbus, Louisville, Indianapolis, North Vernon, and Seymour among others.

Their top states include:
  • Indiana (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Similar Lenders

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

    The Friendship State Bank
    Similarity Rank: 36
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    Mutual Savings Bank
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    COMMONWEALTH
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    Traditional Bank, Inc.
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 948 $129,980,000 $137,110 $1,841 7.01%
    HELOC 827 $72,745,000 $87,963 n/a 6.20%

    For 2023, Centra Credit Union's most frequently originated type of loan was Conventional, with 948 originations. Their 2nd most popular type was HELOC, with 827 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 487 $31,885,000 $65,472 $610 6.49%
    Other 485 $37,825,000 $77,990 $667 6.58%
    Home Purchase 387 $81,275,000 $210,013 $2,721 6.49%
    Refi 232 $25,760,000 $111,034 $1,318 7.29%
    Cash Out Refi 184 $25,980,000 $141,196 $2,560 6.65%

    For 2023, Centra Credit Union's most frequently cited loan purpose was Home Improvement, with 487 originations. The 2nd most popular reason was Other, with 485 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 1,135 $91,245,000 $80,392 $664 6.54%
    30 Year 462 $94,980,000 $205,584 $2,793 6.45%
    15 Year 137 $12,635,000 $92,226 $1,171 7.83%
    5 Year 17 $395,000 $23,235 $511 7.50%
    20 Year 11 $1,675,000 $152,273 $2,705 6.96%
    Other 11 $1,425,000 $129,545 $2,763 7.38%
    1 Year 2 $370,000 $185,000 $0 9.67%

    For 2023, Centra Credit Union's most frequently cited loan duration was 10 Year, with 1,135 originations. The 2nd most popular length was 30 Year, with 462 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 801 $102,625,000 $128,121
    $1k-2k 74 $9,760,000 $131,892
    $2k-3k 30 $6,970,000 $232,333
    $3k-4k 11 $2,405,000 $218,636
    $5k+ 3 $785,000 $261,667
    $4k-5k 2 $540,000 $270,000

    Centra Credit Union's average total fees were $2,793, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 801 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 674 $76,840,000 $114,006
    6-7% 351 $57,065,000 $162,578
    7-8% 314 $33,460,000 $106,561
    Over 8% 261 $19,655,000 $75,307
    4-5% 174 $13,880,000 $79,770
    2.5-3% 1 $1,825,000 $1,825,000

    During 2023, Centra Credit Union's average interest rate for loans was 6.45%, while their most frequently originated rate bucket for loans was 5-6%, with 674 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,046 $51,110,000 $48,862 $986 6.73%
    $100k-200k 447 $63,675,000 $142,450 $2,460 6.51%
    $200k-400k 241 $62,365,000 $258,776 $2,931 6.53%
    $400k-600k 27 $13,035,000 $482,778 $3,093 6.07%
    $600k-1MM 9 $6,315,000 $701,667 $3,180 6.51%
    $1MM+ 5 $6,225,000 $1,245,000 $3,865 5.80%

    2023 saw Centra Credit Union place emphasis on $100,000 or less loans with 1,046 originations, totaling $51,110,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 473 $46,145,000 $97,558 $1,981 6.66%
    $100k-150k 373 $41,055,000 $110,067 $1,760 6.62%
    $75k-100k 324 $32,890,000 $101,512 $1,622 6.58%
    $50k or less 316 $23,920,000 $75,696 $1,713 6.61%
    $150k-250k 183 $30,855,000 $168,607 $2,010 6.84%
    $250k+ 57 $18,605,000 $326,404 $2,527 6.29%

    Centra Credit Union lent most frequently to those with incomes in the $50k-75k range, with 473 originations. The second most popular income band? $100k-150k, with 373 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 480 $51,460,000 $107,208 $1,871 6.56%
    30-36% 350 $38,650,000 $110,429 $1,726 6.73%
    <20% 243 $23,455,000 $96,523 $1,422 6.39%
    42% 79 $9,475,000 $119,937 $1,588 6.99%
    39% 79 $7,715,000 $97,658 $1,661 6.70%
    38% 61 $6,115,000 $100,246 $1,628 6.84%
    36% 60 $5,880,000 $98,000 $1,731 6.61%
    41% 60 $7,020,000 $117,000 $1,720 6.84%
    40% 55 $6,795,000 $123,545 $1,865 6.87%
    37% 46 $5,370,000 $116,739 $2,194 6.62%
    43% 42 $5,830,000 $138,810 $2,162 6.81%
    44% 39 $5,995,000 $153,718 $2,703 6.36%
    45% 31 $5,225,000 $168,548 $3,221 6.41%
    46% 23 $3,335,000 $145,000 $2,778 6.20%
    47% 19 $2,115,000 $111,316 $2,805 6.48%
    50-60% 19 $3,505,000 $184,474 $2,137 6.74%
    49% 15 $1,825,000 $121,667 $2,909 7.27%
    48% 15 $2,985,000 $199,000 $2,367 6.49%
    >60% 11 $1,185,000 $107,727 $1,302 6.56%

    Centra Credit Union lent most frequently to those with DTI ratios of 20-30%, with 480 originations. The next most common DTI ratio? 30-36%, with 350 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,540 $168,680,000 $109,532 $1,857 6.62%
    Not provided 136 $16,370,000 $120,368 $1,622 6.68%
    Not applicable 27 $6,865,000 $254,259 $0 7.06%
    Black 40 $5,270,000 $131,750 $1,285 6.67%
    Asian 15 $2,385,000 $159,000 $2,108 6.93%
    Asian Indian 3 $1,285,000 $428,333 $2,921 5.75%
    American Indian 9 $1,005,000 $111,667 $2,009 6.81%
    Native Hawaiian or Islander 2 $400,000 $200,000 $8,129 7.94%
    Other Asian 1 $205,000 $205,000 $0 5.99%
    Japanese 1 $175,000 $175,000 $948 6.49%
    Filipino 1 $85,000 $85,000 $0 5.99%

    Approval Rates

    Total approvals of all applications
    92.18%

    Centra Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.17%

    Centra Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 826 $72,640,000 $87,942
    NA 949 $130,085,000 $137,076

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,775 $202,725,000 $114,211

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 477 $36,185,000 $75,860 $988 6.66%
    40-60% 186 $23,960,000 $128,817 $2,031 6.60%
    60-80% 265 $50,135,000 $189,189 $2,578 6.56%
    80-100% 308 $69,760,000 $226,494 $2,777 6.52%
    Over 100% 4 $2,640,000 $660,000 $0 6.35%
    Under 20% 535 $20,045,000 $37,467 $667 6.72%