Centra Credit Union Mortgage Rates, Fees & Info

Columbus, IN

LEI: 5493007LUU2DLS755O60

Tax ID: 35-0885381

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    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, Seymour, and Scottsburg among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Centra Credit Union 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. 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 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 4.77% 5/5/24
    30 Year Conventional Purchase 7.02% 5/5/24
    30 Year Conventional Refi 6.67% 5/5/24
    30 Year Cash-out Refi 6.83% 5/5/24
    15 Year Conventional Purchase 6.25% 5/5/24
    15 Year Conventional Refi 6.47% 5/5/24
    15 Year Cash-out Refi 6.47% 5/5/24
    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

    1,511

    Origination Dollar Volume (All Markets)

    $138,405,000
    Show all (7) 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
    COLUMBUS, IN (FHA|USDA|VA) 449 $48,565,000 $108,163 $1,896 3.56%
    LOUISVILLE, KY (FHA|USDA|VA) 349 $29,605,000 $84,828 $1,516 3.73%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 210 $22,510,000 $107,190 $1,597 3.85%
    Seymour, IN (FHA|USDA|VA) 134 $9,720,000 $72,537 $1,783 3.57%
    Scottsburg, IN (FHA|USDA|VA) 115 $7,715,000 $67,087 $1,534 3.72%
    North Vernon, IN (FHA|USDA|VA) 95 $7,475,000 $78,684 $1,820 4.04%
    Madison, IN (FHA|USDA|VA) 50 $3,810,000 $76,200 $1,746 4.29%
    Greensburg, IN (FHA|USDA|VA) 42 $2,730,000 $65,000 $2,030 3.30%
    Outside of Metro Areas 18 $1,720,000 $95,556 $1,936 3.94%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 9 $595,000 $66,111 $1,944 4.20%
    Warren, PA (FHA|USDA|VA) 5 $495,000 $99,000 $2,442 4.28%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $355,000 $355,000 $3,954 4.75%
    BLOOMINGTON, IN (FHA|USDA|VA) 5 $295,000 $59,000 $2,059 3.30%
    Connersville, IN (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.99%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 4 $250,000 $62,500 $1,248 4.88%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $235,000 $235,000 $2,767 4.75%
    Shelbyville, TN (FHA|USDA|VA) 1 $195,000 $195,000 $2,276 4.38%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $185,000 $185,000 $2,033 3.38%
    COLUMBIA, SC (FHA|USDA|VA) 1 $165,000 $165,000 $2,615 4.25%
    Jefferson, GA (FHA|USDA|VA) 1 $155,000 $155,000 $2,726 4.50%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $155,000 $155,000 $3,382 4.88%
    ERIE, PA (FHA|USDA|VA) 1 $155,000 $155,000 $2,928 4.50%
    ROCKY MOUNT, NC (FHA|USDA|VA) 4 $150,000 $37,500 $926 3.88%
    New Castle, IN (FHA|USDA|VA) 1 $135,000 $135,000 $1,862 4.75%
    Olean, NY (FHA|USDA|VA) 2 $110,000 $55,000 $2,547 4.75%
    MUNCIE, IN (FHA|USDA|VA) 1 $105,000 $105,000 $0 1.49%
    TERRE HAUTE, IN (FHA|USDA|VA) 1 $95,000 $95,000 $0 1.49%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $95,000 $95,000 $2,460 4.75%
    Bedford, IN (FHA|USDA|VA) 1 $95,000 $95,000 $0 5.00%
    Jasper, IN (FHA|USDA|VA) 1 $65,000 $65,000 $496 4.99%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $65,000 $65,000 $0 1.49%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $55,000 $55,000 $3,250 4.38%
    READING, PA (FHA|USDA|VA) 1 $45,000 $45,000 $0 1.49%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.49%
    IDAHO FALLS, ID (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.99%
    Centra Credit Union's top markets include Columbus, Louisville, Indianapolis, Seymour, and Scottsburg among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Tennessee (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 Peoples Bank
    Similarity Rank: 120
    Guardian Savings Bank, A Federal Savings Bank
    Similarity Rank: 162
    Greenfield Banking Company
    Similarity Rank: 255
    COMMONWEALTH
    Similarity Rank: 345
    First Harrison Bank
    Similarity Rank: 357
    CLASS ACT FEDERAL CREDIT UNION
    Similarity Rank: 357
    Abound Federal Credit Union
    Similarity Rank: 375
    Hendricks County Bank and Trust Company
    Similarity Rank: 393
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 450
    Peoples Bank
    Similarity Rank: 455

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 892 $92,460,000 $103,655 $1,733 4.70%
    HELOC 619 $45,945,000 $74,225 n/a 2.30%

    For 2018, Centra Credit Union's most frequently originated type of loan was Conventional, with 892 originations. Their 2nd most popular type was HELOC, with 619 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 421 $20,045,000 $47,613 $645 3.06%
    Home Purchase 414 $62,080,000 $149,952 $2,131 4.31%
    Refi 285 $27,175,000 $95,351 $1,526 4.33%
    Other 248 $14,140,000 $57,016 $505 2.79%
    Cash Out Refi 143 $14,965,000 $104,650 $2,344 4.34%

    For 2018, Centra Credit Union's most frequently cited loan purpose was Home Improvement, with 421 originations. The 2nd most popular reason was Home Purchase, with 414 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 880 $59,360,000 $67,455 $636 3.07%
    30 Year 350 $52,200,000 $149,143 $2,271 4.72%
    15 Year 210 $22,030,000 $104,905 $1,809 4.55%
    20 Year 34 $3,240,000 $95,294 $2,237 4.52%
    5 Year 31 $975,000 $31,452 $513 4.46%
    Other 6 $600,000 $100,000 $918 3.51%

    For 2018, Centra Credit Union's most frequently cited loan duration was 10 Year, with 880 originations. The 2nd most popular length was 30 Year, with 350 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 681 $64,395,000 $94,559
    $1k-2k 133 $18,475,000 $138,910
    $2k-3k 18 $2,670,000 $148,333
    $3k-4k 3 $665,000 $221,667
    $4k-5k 2 $490,000 $245,000
    $5k+ 1 $295,000 $295,000

    Centra Credit Union's average total fees were $2,271, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 681 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 783 $82,925,000 $105,907
    <2.5% 462 $32,040,000 $69,351
    5-6% 184 $14,700,000 $79,891
    3-4% 67 $7,435,000 $110,970
    6-7% 15 $1,305,000 $87,000

    During 2018, Centra Credit Union's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 4-5%, with 783 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 995 $45,875,000 $46,106 $1,222 3.52%
    $100k-200k 387 $53,245,000 $137,584 $2,218 4.15%
    $200k-400k 115 $29,275,000 $254,565 $2,558 4.00%
    $400k-600k 6 $2,780,000 $463,333 $2,359 3.50%
    $600k-1MM 5 $3,635,000 $727,000 $3,058 4.24%
    $1MM+ 3 $3,595,000 $1,198,333 $2,891 3.50%

    2018 saw Centra Credit Union place emphasis on $100,000 or less loans with 995 originations, totaling $45,875,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 425 $26,275,000 $61,824 $1,515 3.78%
    $50k-75k 370 $29,350,000 $79,324 $1,681 3.82%
    $75k-100k 288 $26,320,000 $91,389 $1,850 3.57%
    $100k-150k 247 $26,295,000 $106,457 $1,787 3.37%
    $150k-250k 94 $14,560,000 $154,894 $1,655 3.65%
    $250k+ 23 $6,405,000 $278,478 $2,509 3.69%

    Centra Credit Union lent most frequently to those with incomes in the $50k or less range, with 425 originations. The second most popular income band? $50k-75k, with 370 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 387 $33,655,000 $86,964 $1,613 3.63%
    <20% 369 $28,165,000 $76,328 $1,519 3.01%
    30-36% 226 $17,840,000 $78,938 $1,557 3.74%
    36% 43 $4,065,000 $94,535 $1,482 4.24%
    42% 39 $2,615,000 $67,051 $1,422 4.46%
    37% 38 $3,380,000 $88,947 $1,449 3.87%
    39% 36 $3,900,000 $108,333 $1,960 4.34%
    38% 36 $2,880,000 $80,000 $1,599 3.91%
    40% 34 $2,800,000 $82,353 $1,749 3.98%
    41% 27 $2,165,000 $80,185 $1,692 4.07%
    44% 20 $1,890,000 $94,500 $1,813 3.82%
    >60% 18 $2,420,000 $134,444 $1,165 4.35%
    45% 15 $1,945,000 $129,667 $1,785 4.00%
    43% 13 $1,125,000 $86,538 $1,750 3.57%
    48% 12 $1,170,000 $97,500 $1,731 4.78%
    49% 10 $1,080,000 $108,000 $1,810 4.34%
    50-60% 9 $1,655,000 $183,889 $1,992 3.98%
    46% 6 $740,000 $123,333 $2,063 5.06%
    47% 4 $690,000 $172,500 $2,465 5.13%

    Centra Credit Union lent most frequently to those with DTI ratios of 20-30%, with 387 originations. The next most common DTI ratio? <20%, with 369 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,187 $112,295,000 $94,604 $1,847 3.72%
    Not provided 263 $18,295,000 $69,563 $1,060 3.48%
    Not applicable 25 $3,875,000 $155,000 $0 5.42%
    Black 22 $1,500,000 $68,182 $1,522 4.01%
    Asian 12 $1,440,000 $120,000 $944 4.24%
    Asian Indian 2 $1,000,000 $500,000 $2,399 4.25%

    Approval Rates

    Total approvals of all applications
    88.24%

    Centra Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.97%

    Centra Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 601 $44,665,000 $74,318
    NA 910 $93,740,000 $103,011

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $930,000 $465,000
    Single Family (1-4 Units):Manufactured 35 $2,155,000 $61,571
    Single Family (1-4 Units):Site-Built 1,474 $135,320,000 $91,805

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 359 $18,695,000 $52,075 $761 3.31%
    40-60% 227 $21,925,000 $96,586 $1,719 3.75%
    60-80% 306 $40,710,000 $133,039 $2,235 4.27%
    80-100% 299 $47,175,000 $157,776 $2,209 4.25%
    Over 100% 1 $115,000 $115,000 $2,125 5.13%
    Under 20% 316 $8,850,000 $28,006 $475 3.11%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    CENTRAL BANC MORTGAGE CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%