Central Bank Mortgage Rates, Fees & Info
Little Rock, ARLEI: 5493008ETVHBTJEF0O91
Tax ID: 20-5445884
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Mortgage Data
Review & Overview
Central Bank is a smaller bank specializing in Home Purchase loans. Central Bank has a high proportion of conventional loans. Their top markets by origination volume include: Little Rock, Fayetteville, Crestview, Searcy, and Hot Springs among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Central Bank 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. Central Bank 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.68% | 11/17/24 |
| 30 Year Conventional Refi | 6.63% | 11/17/24 |
| 30 Year Cash-out Refi | 6.47% | 11/17/24 |
| 15 Year Conventional Purchase | 5.68% | 11/17/24 |
| 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 Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Central Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
71Origination Dollar Volume (All Markets)
$40,535,000Relative Rate
Central Bank's average 30 year fixed mortgage rate was
6.64%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.16%.
Relative Fees (Closing Costs)
Central Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,787.
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 |
|---|---|---|---|---|---|
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 38 | $16,620,000 | $437,368 | $4,406 | 8.00% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 12 | $14,390,000 | $1,199,167 | $2,891 | 7.33% |
| Outside of Metro Areas | 6 | $2,930,000 | $488,333 | $6,584 | 8.13% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $2,215,000 | $2,215,000 | $0 | 8.50% |
| Searcy, AR (FHA|USDA|VA) | 4 | $910,000 | $227,500 | $2,051 | 7.57% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $0 | 8.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $0 | 7.50% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $7,531 | 8.25% |
| Malvern, AR (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $0 | 8.43% |
| TEXARKANA, TX-AR (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 7.50% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 8.25% |
| Russellville, AR (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 7.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 71 | $40,535,000 | $570,915 | $3,859 | 7.87% |
For 2023, Central Bank's most frequently originated type of loan was Conventional, with 71 originations.
Loan Reason
For 2023, Central Bank's most frequently cited loan purpose was Home Purchase, with 55 originations. The 2nd most popular reason was Refi, with 9 originations.
Loan Duration/Length
For 2023, Central Bank's most frequently cited loan duration was Other, with 27 originations. The 2nd most popular length was 5 Year, with 13 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 5 | $3,155,000 | $631,000 |
| $2k-3k | 5 | $2,355,000 | $471,000 |
| $3k-4k | 3 | $1,915,000 | $638,333 |
| $1k-2k | 1 | $225,000 | $225,000 |
Central Bank's average total fees were $3,787, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 33 | $25,545,000 | $774,091 |
| 7-8% | 24 | $6,010,000 | $250,417 |
| 6-7% | 14 | $8,980,000 | $641,429 |
During 2023, Central Bank's average interest rate for loans was 6.64%, while their most frequently originated rate bucket for loans was Over 8%, with 33 originations.
Loan Sizing
2023 saw Central Bank place emphasis on $100k-200k loans with 18 originations, totaling $2,410,000 in origination value.
Applicant Income
Central Bank lent most frequently to those with incomes in the $250k+ range, with 6 originations. The second most popular income band? $150k-250k, with 5 originations.
Applicant Debt to Income Ratio
Central Bank lent most frequently to those with DTI ratios of 30-36%, with 7 originations. The next most common DTI ratio? <20%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.05%
Central Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.73%
Central Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 71 | $40,535,000 | $570,915 |