Central Bank Mortgage Rates, Fees & Info

Lexington, KY

LEI: 549300C5GU86M1X2DG56

Tax ID: 61-0153605

5 stars - Updated: 4/5/25 - out of 5 stars, based on 32 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Central Bank is a smaller bank specializing in Home Purchase loans. Central Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Lexington, Louisville, Cincinnati, Richmond, and Frankfort among others. We have data for 26 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 about average 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.

    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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 7.00% 4/5/25
    30 Year Conventional Purchase 6.52% 4/5/25
    30 Year Conventional Refi 6.84% 4/5/25
    30 Year Cash-out Refi 6.78% 4/5/25
    30 Year FHA Purchase 7.10% 4/5/25
    30 Year VA Purchase 6.29% 4/5/25
    30 Year USDA Purchase 6.73% 4/5/25
    15 Year Conventional Purchase 6.05% 4/5/25
    15 Year Conventional Refi 6.27% 4/5/25
    15 Year Cash-out Refi 6.27% 4/5/25
    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

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Central Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,005

    Origination Dollar Volume (All Markets)

    $231,265,000
    Show all (10) awards

    Relative Rate

    Central Bank's average 30 year fixed mortgage rate was 6.54%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.01%.

    Relative Fees (Closing Costs)

    Central Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,126.

    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 $8,356.

    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
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 560 $143,110,000 $255,554 $2,695 7.55%
    LOUISVILLE, KY (FHA|USDA|VA) 176 $29,670,000 $168,580 $3,419 7.98%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 99 $22,715,000 $229,444 $3,042 7.75%
    Richmond-Berea, KY (FHA|USDA|VA) 60 $11,050,000 $184,167 $3,085 7.51%
    Outside of Metro Areas 55 $8,525,000 $155,000 $3,539 7.44%
    Frankfort, KY (FHA|USDA|VA) 14 $3,520,000 $251,429 $3,549 6.96%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $2,300,000 $1,150,000 $7,226 7.50%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $1,215,000 $1,215,000 $3,849 7.00%
    Danville, KY (FHA|USDA|VA) 5 $1,075,000 $215,000 $2,772 7.20%
    Mount Sterling, KY (FHA|USDA|VA) 9 $995,000 $110,556 $2,437 7.65%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $915,000 $305,000 $0 8.25%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $865,000 $865,000 $4,417 7.25%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $825,000 $825,000 $4,486 8.63%
    London, KY (FHA|USDA|VA) 4 $780,000 $195,000 $2,680 7.03%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $765,000 $765,000 $1,849 6.63%
    GRAND JUNCTION, CO (FHA|USDA|VA) 1 $505,000 $505,000 $2,525 6.88%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $425,000 $425,000 $5,091 8.13%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 3 $375,000 $125,000 $2,592 7.49%
    Brevard, NC (FHA|USDA|VA) 1 $355,000 $355,000 $14,848 7.50%
    COLUMBUS, OH (FHA|USDA|VA) 1 $355,000 $355,000 $0 8.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,854 7.00%
    Scottsburg, IN (FHA|USDA|VA) 2 $210,000 $105,000 $0 8.12%
    OWENSBORO, KY (FHA|USDA|VA) 1 $195,000 $195,000 $2,296 6.75%
    Bardstown, KY (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.99%
    Glasgow, KY (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.00%
    Paducah, KY-IL (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.99%
    Central Bank's top markets include Lexington, Louisville, Cincinnati, Richmond, and Frankfort among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Central Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    TRANSCEND
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    Similarity Rank: 442
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    Similarity Rank: 510
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    Similarity Rank: 525
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    Similarity Rank: 576

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 553 $75,735,000 $136,953 n/a 8.22%
    Conventional 427 $149,635,000 $350,433 $2,654 6.94%
    FHA 20 $4,650,000 $232,500 $6,943 6.34%
    VA 4 $1,080,000 $270,000 $7,136 6.25%
    USDA 1 $165,000 $165,000 $4,490 5.88%

    For 2024, Central Bank's most frequently originated type of loan was HELOC, with 553 originations. Their 2nd most popular type was Conventional, with 427 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 426 $150,000,000 $352,113 $3,014 6.98%
    Refi 222 $36,980,000 $166,577 $2,239 8.26%
    Home Improvement 174 $20,180,000 $115,977 $2,830 8.11%
    Other 172 $22,170,000 $128,895 $2,689 8.00%
    Cash Out Refi 11 $1,935,000 $175,909 $2,625 6.58%

    For 2024, Central Bank's most frequently cited loan purpose was Home Purchase, with 426 originations. The 2nd most popular reason was Refi, with 222 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 464 $43,440,000 $93,621 $0 8.18%
    30 Year 335 $119,815,000 $357,657 $3,126 6.54%
    5 Year 108 $32,380,000 $299,815 $12 8.40%
    Other 33 $9,385,000 $284,394 $696 8.56%
    1 Year 26 $10,590,000 $407,308 $1,761 8.54%
    15 Year 24 $10,620,000 $442,500 $2,685 6.27%
    3 Year 14 $4,930,000 $352,143 $0 8.14%
    20 Year 1 $105,000 $105,000 $2,244 6.88%

    For 2024, Central Bank's most frequently cited loan duration was 10 Year, with 464 originations. The 2nd most popular length was 30 Year, with 335 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 368 $134,660,000 $365,924
    $1k-2k 8 $2,420,000 $302,500
    $5k+ 3 $1,105,000 $368,333
    $2k-3k 1 $405,000 $405,000
    $4k-5k 1 $365,000 $365,000

    Central Bank's average total fees were $3,126, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 368 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 376 $55,100,000 $146,543
    Over 8% 311 $59,555,000 $191,495
    6-7% 258 $99,860,000 $387,054
    5-6% 51 $16,545,000 $324,412
    4-5% 9 $205,000 $22,778

    During 2024, Central Bank's average interest rate for loans was 6.54%, while their most frequently originated rate bucket for loans was 7-8%, with 376 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 328 $17,020,000 $51,890 $1,089 8.04%
    $200k-400k 281 $76,255,000 $271,370 $3,229 7.37%
    $100k-200k 246 $35,510,000 $144,350 $2,730 7.70%
    $400k-600k 86 $41,290,000 $480,116 $3,297 7.18%
    $600k-1MM 48 $34,510,000 $718,958 $2,917 6.96%
    $1MM+ 16 $26,680,000 $1,667,500 $3,746 7.12%

    2024 saw Central Bank place emphasis on $100,000 or less loans with 328 originations, totaling $17,020,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 219 $93,865,000 $428,607 $2,903 7.70%
    $100k-150k 212 $36,740,000 $173,302 $2,896 7.65%
    $150k-250k 190 $47,040,000 $247,579 $2,841 7.67%
    $50k-75k 143 $19,415,000 $135,769 $2,934 7.20%
    $75k-100k 101 $13,575,000 $134,406 $4,290 7.67%
    $50k or less 86 $6,540,000 $76,047 $2,078 7.59%

    Central Bank lent most frequently to those with incomes in the $250k+ range, with 219 originations. The second most popular income band? $100k-150k, with 212 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 278 $67,190,000 $241,691 $2,575 7.74%
    <20% 182 $41,080,000 $225,714 $2,648 7.87%
    30-36% 160 $33,260,000 $207,875 $2,768 7.70%
    39% 39 $8,235,000 $211,154 $2,770 7.26%
    40% 33 $8,955,000 $271,364 $3,001 7.11%
    44% 30 $8,080,000 $269,333 $3,113 7.09%
    36% 29 $4,535,000 $156,379 $3,249 7.75%
    43% 28 $7,460,000 $266,429 $2,814 7.49%
    42% 26 $6,110,000 $235,000 $4,014 7.25%
    37% 26 $4,810,000 $185,000 $3,036 7.56%
    38% 26 $5,740,000 $220,769 $2,795 7.44%
    45% 26 $4,670,000 $179,615 $4,840 7.57%
    41% 23 $4,215,000 $183,261 $3,311 7.30%
    49% 16 $4,410,000 $275,625 $2,965 6.69%
    48% 15 $4,835,000 $322,333 $3,547 6.77%
    46% 10 $1,950,000 $195,000 $2,855 6.34%
    >60% 7 $1,565,000 $223,571 $1,380 8.37%
    47% 7 $1,265,000 $180,714 $3,619 6.32%
    50-60% 7 $1,925,000 $275,000 $2,459 8.02%

    Central Bank lent most frequently to those with DTI ratios of 20-30%, with 278 originations. The next most common DTI ratio? <20%, with 182 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 822 $191,530,000 $233,005 $2,971 7.57%
    Not provided 93 $12,805,000 $137,688 $2,700 7.99%
    Not applicable 38 $11,630,000 $306,053 $0 8.38%
    Black 29 $7,805,000 $269,138 $2,811 7.12%
    Asian 19 $6,775,000 $356,579 $1,957 7.39%
    Asian Indian 1 $525,000 $525,000 $0 7.63%
    Other Pacific Islander 1 $95,000 $95,000 $0 9.00%
    Other Asian 1 $75,000 $75,000 $0 7.99%
    Korean 1 $25,000 $25,000 $0 8.25%

    Approval Rates

    Total approvals of all applications
    90.25%

    Central Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.66%

    Central Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,005 $231,265,000 $230,114

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,005 $231,265,000 $230,114

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 249 $40,325,000 $161,948 $2,084 8.12%
    40-60% 109 $27,515,000 $252,431 $2,372 7.66%
    60-80% 162 $68,130,000 $420,556 $3,089 7.24%
    80-100% 207 $75,865,000 $366,498 $3,326 6.73%
    Over 100% 1 $335,000 $335,000 $13,243 6.00%
    Under 20% 276 $19,070,000 $69,094 $645 8.08%