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 Cash Out Refi, Home Purchase, and Refi loans. Center National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Willmar, Hutchinson, St. Cloud, and Duluth among others. We have data for 6 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
91Origination Dollar Volume (All Markets)
$15,005,000Top 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 | 68 | $10,090,000 | $148,382 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 9 | $1,735,000 | $192,778 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 6 | $1,000,000 | $166,667 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 4 | $980,000 | $245,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 91 | $15,005,000 | $164,890 | $0 | 0.00% |
For 2019, Center National Bank's most frequently originated type of loan was Conventional, with 91 originations.
Loan Reason
For 2019, Center National Bank's most frequently cited loan purpose was Cash Out Refi, with 35 originations. The 2nd most popular reason was Home Purchase, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 91 | $15,005,000 | $164,890 | $0 | 0.00% |
For 2019, Center National Bank's most frequently cited loan duration was Other, with 91 originations.
Loan Sizing
2019 saw Center National Bank place emphasis on $100k-200k loans with 35 originations, totaling $5,485,000 in origination value.
Applicant Income
Center National Bank lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $75k-100k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 91 | $15,005,000 | $164,890 | $0 | 0.00% |
Center National Bank lent most frequently to those with DTI ratios of Exempt%, with 91 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 86 | $14,000,000 | $162,791 | $0 | 0.00% |
| Not applicable | 5 | $1,005,000 | $201,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications93.94%
Center National Bank has an average approval rate.
Pick Rate
Approvals leading to origination97.80%
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 | 91 | $15,005,000 | $164,890 |
Occupancy Type Mix
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% |