Center National Bank Mortgage Rates, Fees & Info
Litchfield, MNLEI: 5493008LABVG9QJ78G04
Tax ID: 41-0557120
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Center National Bank is a smaller bank specializing in Other and Home Purchase loans. Center National Bank has a high proportion of conventional loans. Their top (well, only) market is Hutchinson.Center National Bank has an above average approval rate when compared to the average across all lenders.
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.
Originations
53Origination Dollar Volume (All Markets)
$8,205,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 51 | $7,355,000 | $144,216 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 53 | $8,205,000 | $154,811 | $0 | 0.00% |
For 2023, Center National Bank's most frequently originated type of loan was Conventional, with 53 originations.
Loan Reason
For 2023, Center National Bank's most frequently cited loan purpose was Other, with 24 originations. The 2nd most popular reason was Home Purchase, with 20 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 53 | $8,205,000 | $154,811 | $0 | 0.00% |
For 2023, Center National Bank's most frequently cited loan duration was Other, with 53 originations.
Loan Sizing
2023 saw Center National Bank place emphasis on $100,000 or less loans with 23 originations, totaling $1,135,000 in origination value.
Applicant Income
Center National Bank lent most frequently to those with incomes in the $50k-75k range, with 18 originations. The second most popular income band? $150k-250k, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 53 | $8,205,000 | $154,811 | $0 | 0.00% |
Center National Bank lent most frequently to those with DTI ratios of Exempt%, with 53 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 47 | $5,985,000 | $127,340 | $0 | 0.00% |
| Not applicable | 6 | $2,220,000 | $370,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Center National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 53 | $8,205,000 | $154,811 |