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

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  • 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 and Refi 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 33 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% 11/22/24
    30 Year Conventional Purchase 7.02% 11/22/24
    30 Year Conventional Refi 6.67% 11/22/24
    30 Year Cash-out Refi 6.83% 11/22/24
    15 Year Conventional Purchase 6.25% 11/22/24
    15 Year Conventional Refi 6.47% 11/22/24
    15 Year Cash-out Refi 6.47% 11/22/24
    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

    1,813

    Origination Dollar Volume (All Markets)

    $178,895,000
    Show all (11) 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) 548 $62,440,000 $113,942 $1,936 3.58%
    LOUISVILLE, KY (FHA|USDA|VA) 444 $45,150,000 $101,689 $1,562 3.74%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 252 $25,150,000 $99,802 $1,726 3.65%
    North Vernon, IN (FHA|USDA|VA) 130 $10,130,000 $77,923 $1,714 3.72%
    Seymour, IN (FHA|USDA|VA) 126 $9,960,000 $79,048 $1,875 3.51%
    Scottsburg, IN (FHA|USDA|VA) 104 $7,460,000 $71,731 $1,693 3.59%
    Madison, IN (FHA|USDA|VA) 65 $5,565,000 $85,615 $1,901 3.99%
    Greensburg, IN (FHA|USDA|VA) 66 $4,590,000 $69,545 $1,929 3.57%
    Outside of Metro Areas 30 $2,740,000 $91,333 $1,982 3.68%
    Key West, FL (FHA|USDA|VA) 1 $805,000 $805,000 $0 1.24%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 10 $670,000 $67,000 $1,930 4.08%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 5 $565,000 $113,000 $2,169 3.14%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $550,000 $275,000 $3,680 4.25%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $435,000 $435,000 $0 4.45%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $395,000 $395,000 $3,861 3.75%
    BLOOMINGTON, IN (FHA|USDA|VA) 2 $310,000 $155,000 $2,272 3.44%
    Roanoke Rapids, NC (FHA|USDA|VA) 2 $250,000 $125,000 $4,527 4.63%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $245,000 $245,000 $3,591 3.63%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $215,000 $215,000 $4,061 3.88%
    PITTSBURGH, PA (FHA|USDA|VA) 2 $210,000 $105,000 $3,426 2.56%
    Warren, PA (FHA|USDA|VA) 4 $180,000 $45,000 $1,207 3.88%
    MADISON, WI (FHA|USDA|VA) 1 $145,000 $145,000 $3,882 4.75%
    VALDOSTA, GA (FHA|USDA|VA) 1 $145,000 $145,000 $2,940 3.38%
    Bedford, IN (FHA|USDA|VA) 3 $135,000 $45,000 $1,027 3.77%
    Crawfordsville, IN (FHA|USDA|VA) 1 $95,000 $95,000 $2,111 4.00%
    MUNCIE, IN (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.91%
    Jasper, IN (FHA|USDA|VA) 1 $75,000 $75,000 $513 4.89%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $65,000 $65,000 $513 5.89%
    Olean, NY (FHA|USDA|VA) 3 $45,000 $15,000 $1,123 4.63%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $35,000 $35,000 $503 5.99%
    ERIE, PA (FHA|USDA|VA) 1 $25,000 $25,000 $1,130 4.99%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.74%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $5,000 $5,000 $0 5.50%
    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)
  • Tennessee (FHA|USDA|VA)
  • New York (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: 70
    Guardian Savings Bank, A Federal Savings Bank
    Similarity Rank: 360
    Advanz Federal Credit Union
    Similarity Rank: 360
    The Peoples Bank
    Similarity Rank: 400
    COMMONWEALTH
    Similarity Rank: 408
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 434
    Hendricks County Bank and Trust Company
    Similarity Rank: 456
    TRANSCEND
    Similarity Rank: 702
    Abound Federal Credit Union
    Similarity Rank: 752
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 912

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,108 $132,860,000 $119,910 $1,784 4.31%
    HELOC 705 $46,035,000 $65,298 n/a 2.65%

    For 2019, Centra Credit Union's most frequently originated type of loan was Conventional, with 1,108 originations. Their 2nd most popular type was HELOC, with 705 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 505 $74,345,000 $147,218 $2,116 3.94%
    Home Improvement 387 $19,045,000 $49,212 $458 3.22%
    Refi 367 $36,065,000 $98,270 $1,646 4.04%
    Other 290 $16,070,000 $55,414 $479 3.04%
    Cash Out Refi 264 $33,370,000 $126,402 $2,344 3.93%

    For 2019, Centra Credit Union's most frequently cited loan purpose was Home Purchase, with 505 originations. The 2nd most popular reason was Home Improvement, with 387 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 983 $61,975,000 $63,047 $769 3.28%
    30 Year 528 $78,730,000 $149,110 $2,242 4.06%
    15 Year 226 $29,510,000 $130,575 $1,890 4.19%
    20 Year 46 $6,330,000 $137,609 $2,404 3.88%
    5 Year 21 $775,000 $36,905 $416 4.65%
    Other 8 $1,380,000 $172,500 $3,136 5.09%
    3 Year 1 $195,000 $195,000 $0 5.25%

    For 2019, Centra Credit Union's most frequently cited loan duration was 10 Year, with 983 originations. The 2nd most popular length was 30 Year, with 528 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 573 $82,155,000 $143,377
    $1k-2k 151 $21,825,000 $144,536
    $2k-3k 45 $7,315,000 $162,556
    $3k-4k 13 $2,635,000 $202,692
    $4k-5k 2 $360,000 $180,000

    Centra Credit Union's average total fees were $2,242, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 573 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 540 $34,770,000 $64,389
    4-5% 512 $54,120,000 $105,703
    3-4% 468 $71,490,000 $152,756
    5-6% 231 $13,155,000 $56,948
    6-7% 47 $3,525,000 $75,000
    2.5-3% 12 $1,720,000 $143,333
    7-8% 3 $115,000 $38,333

    During 2019, Centra Credit Union's average interest rate for loans was 4.06%, while their most frequently originated rate bucket for loans was <2.5%, with 540 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,114 $52,630,000 $47,244 $1,203 3.63%
    $100k-200k 516 $72,330,000 $140,174 $2,305 3.70%
    $200k-400k 163 $40,825,000 $250,460 $2,499 3.72%
    $400k-600k 12 $5,440,000 $453,333 $2,662 3.66%
    $600k-1MM 5 $3,815,000 $763,000 $2,332 4.02%
    $1MM+ 3 $3,855,000 $1,285,000 $3,033 3.90%

    2019 saw Centra Credit Union place emphasis on $100,000 or less loans with 1,114 originations, totaling $52,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 514 $35,360,000 $68,794 $1,635 3.74%
    $50k-75k 476 $41,760,000 $87,731 $1,828 3.70%
    $75k-100k 337 $33,455,000 $99,273 $1,773 3.61%
    $100k-150k 309 $34,955,000 $113,123 $1,844 3.57%
    $150k-250k 123 $18,725,000 $152,236 $2,121 3.30%
    $250k+ 28 $8,850,000 $316,071 $2,305 3.95%

    Centra Credit Union lent most frequently to those with incomes in the $50k or less range, with 514 originations. The second most popular income band? $50k-75k, with 476 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 548 $53,200,000 $97,080 $1,818 3.75%
    <20% 441 $37,865,000 $85,862 $1,655 3.22%
    30-36% 331 $31,515,000 $95,211 $1,766 3.74%
    36% 65 $5,645,000 $86,846 $1,659 4.12%
    38% 48 $5,210,000 $108,542 $1,703 4.00%
    41% 46 $3,910,000 $85,000 $1,837 3.94%
    39% 45 $4,485,000 $99,667 $1,917 3.40%
    40% 45 $4,395,000 $97,667 $1,316 4.24%
    42% 40 $3,860,000 $96,500 $1,605 4.23%
    43% 39 $4,145,000 $106,282 $2,187 3.37%
    37% 36 $3,500,000 $97,222 $1,890 3.85%
    44% 24 $3,060,000 $127,500 $2,260 3.91%
    >60% 19 $3,865,000 $203,421 $2,175 3.25%
    50-60% 18 $2,180,000 $121,111 $2,185 3.34%
    48% 13 $1,635,000 $125,769 $1,820 4.05%
    45% 12 $1,730,000 $144,167 $2,143 3.80%
    46% 9 $1,095,000 $121,667 $2,395 3.72%
    47% 5 $565,000 $113,000 $2,165 4.18%
    49% 5 $775,000 $155,000 $1,731 3.34%

    Centra Credit Union lent most frequently to those with DTI ratios of 20-30%, with 548 originations. The next most common DTI ratio? <20%, with 441 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,684 $161,430,000 $95,861 $1,781 3.64%
    Not applicable 20 $5,620,000 $281,000 $0 5.07%
    Black 45 $4,845,000 $107,667 $1,517 3.90%
    Not provided 40 $4,390,000 $109,750 $2,110 3.74%
    Asian 15 $2,005,000 $133,667 $2,062 4.07%
    American Indian 3 $215,000 $71,667 $3,065 3.33%
    Chinese 1 $195,000 $195,000 $0 5.50%
    Other Pacific Islander 3 $115,000 $38,333 $703 2.49%
    Filipino 2 $80,000 $40,000 $0 3.00%

    Approval Rates

    Total approvals of all applications
    88.77%

    Centra Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.00%

    Centra Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    2593.0 1 $85,000 $85,000
    NA 1,812 $178,810,000 $98,681

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $3,050,000 $762,500
    Single Family (1-4 Units):Manufactured 44 $3,330,000 $75,682
    Single Family (1-4 Units):Site-Built 1,765 $172,515,000 $97,742

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 405 $24,475,000 $60,432 $949 3.50%
    40-60% 235 $23,185,000 $98,660 $1,686 3.75%
    60-80% 396 $56,110,000 $141,692 $2,329 3.84%
    80-100% 385 $63,285,000 $164,377 $2,146 3.97%
    Over 100% 1 $495,000 $495,000 $0 4.10%
    Under 20% 391 $11,345,000 $29,015 $454 3.29%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    CENTERSTATE BANK CORPORATION Conventional home mortgage Trouble during payment process 1 50.0%
    CENTERSTATE BANK CORPORATION VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%