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
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Mortgage Data
Review & Overview
Center National Bank is a smaller bank specializing in Home Purchase, Other, and Refi loans. Center National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Aberdeen, Brainerd, Cape Coral, and Hutchinson 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
73Origination Dollar Volume (All Markets)
$23,785,000Top 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 | 60 | $15,030,000 | $250,500 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 7 | $5,735,000 | $819,286 | $0 | 0.00% |
| Aberdeen, SD (FHA|USDA|VA) | 1 | $1,685,000 | $1,685,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 73 | $23,785,000 | $325,822 | $0 | 0.00% |
For 2022, Center National Bank's most frequently originated type of loan was Conventional, with 73 originations.
Loan Reason
For 2022, Center National Bank's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Other, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 73 | $23,785,000 | $325,822 | $0 | 0.00% |
For 2022, Center National Bank's most frequently cited loan duration was Other, with 73 originations.
Loan Sizing
2022 saw Center National Bank place emphasis on $100,000 or less loans with 21 originations, totaling $1,335,000 in origination value.
Applicant Income
Center National Bank lent most frequently to those with incomes in the $100k-150k range, with 18 originations. The second most popular income band? $150k-250k, with 14 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 73 | $23,785,000 | $325,822 | $0 | 0.00% |
Center National Bank lent most frequently to those with DTI ratios of Exempt%, with 73 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 58 | $12,750,000 | $219,828 | $0 | 0.00% |
| Not applicable | 15 | $11,035,000 | $735,667 | $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 origination98.63%
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 | 73 | $23,785,000 | $325,822 |