Center National Bank Mortgage Rates, Fees & Info
Litchfield, MNLEI: 5493008LABVG9QJ78G04
Tax ID: 41-0557120
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Mortgage Data
Review & Overview
Center National Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Center National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Willmar, St. Cloud, Hutchinson, and Duluth among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Center National Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
75Origination Dollar Volume (All Markets)
$13,555,000Top 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 | $7,285,000 | $142,843 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 10 | $2,650,000 | $265,000 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 6 | $1,830,000 | $305,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 4 | $850,000 | $212,500 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 75 | $13,555,000 | $180,733 | $0 | 0.00% |
For 2018, Center National Bank's most frequently originated type of loan was Conventional, with 75 originations.
Loan Reason
For 2018, Center National Bank's most frequently cited loan purpose was Home Purchase, with 35 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 75 | $13,555,000 | $180,733 | $0 | 0.00% |
For 2018, Center National Bank's most frequently cited loan duration was Other, with 75 originations.
Loan Sizing
2018 saw Center National Bank place emphasis on $100k-200k loans with 26 originations, totaling $3,740,000 in origination value.
Applicant Income
Center National Bank lent most frequently to those with incomes in the $50k-75k range, with 17 originations. The second most popular income band? $75k-100k, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 75 | $13,555,000 | $180,733 | $0 | 0.00% |
Center National Bank lent most frequently to those with DTI ratios of Exempt%, with 75 originations.
Ethnicity Mix
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 origination97.33%
Center National Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 75 | $13,555,000 | $180,733 |
Occupancy Type Mix
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% |