Central Bank Mortgage Rates, Fees & Info
Lexington, KYLEI: 549300C5GU86M1X2DG56
Tax ID: 61-0153605
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Central Bank is a smaller bank specializing in Home Purchase and Refi 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, Cincinnati, Louisville, Richmond, and Dayton among others. We have data for 36 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.85% | 12/4/23 |
| 30 Year Conventional Purchase | 6.39% | 12/4/23 |
| 30 Year Conventional Refi | 6.47% | 12/4/23 |
| 30 Year Cash-out Refi | 6.48% | 12/4/23 |
| 30 Year FHA Purchase | 7.04% | 12/4/23 |
| 30 Year FHA Refi | 6.39% | 12/4/23 |
| 30 Year VA Purchase | 5.72% | 12/4/23 |
| 30 Year USDA Purchase | 6.53% | 12/4/23 |
| 15 Year Conventional Purchase | 5.84% | 12/4/23 |
| 15 Year Conventional Refi | 5.97% | 12/4/23 |
| 15 Year Cash-out Refi | 5.97% | 12/4/23 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,417Origination Dollar Volume (All Markets)
$363,835,000Awards
Central Bank - 2022
Central Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Central Bank's average 30 year fixed mortgage rate was
4.68%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.08%.
Relative Fees (Closing Costs)
Central Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,821.
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 $4,750.
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) | 830 | $162,190,000 | $195,410 | $2,515 | 4.08% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 149 | $81,975,000 | $550,168 | $2,586 | 3.80% |
| LOUISVILLE, KY (FHA|USDA|VA) | 207 | $37,945,000 | $183,309 | $2,722 | 4.00% |
| Richmond-Berea, KY (FHA|USDA|VA) | 106 | $23,250,000 | $219,340 | $2,996 | 4.31% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 2 | $12,950,000 | $6,475,000 | $0 | 5.00% |
| TOLEDO, OH (FHA|USDA|VA) | 2 | $10,330,000 | $5,165,000 | $0 | 4.25% |
| Outside of Metro Areas | 58 | $8,270,000 | $142,586 | $2,676 | 4.06% |
| Athens, OH (FHA|USDA|VA) | 1 | $6,675,000 | $6,675,000 | $0 | 3.25% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $2,685,000 | $2,685,000 | $6,013 | 5.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $2,605,000 | $2,605,000 | $3,396 | 3.75% |
| Frankfort, KY (FHA|USDA|VA) | 13 | $2,245,000 | $172,692 | $2,571 | 4.28% |
| Danville, KY (FHA|USDA|VA) | 10 | $1,850,000 | $185,000 | $2,125 | 4.51% |
| Mount Sterling, KY (FHA|USDA|VA) | 8 | $1,540,000 | $192,500 | $2,611 | 4.22% |
| Paducah, KY-IL (FHA|USDA|VA) | 1 | $1,105,000 | $1,105,000 | $4,900 | 5.00% |
| OWENSBORO, KY (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $6,685 | 5.05% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $2,717 | 4.31% |
| Bardstown, KY (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $1,876 | 2.46% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $3,298 | 3.00% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $2,973 | 5.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $4,342 | 6.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $3,230 | 5.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 3.50% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $6,329 | 6.50% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,271 | 4.75% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,424 | 3.13% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,751 | 3.75% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,778 | 3.13% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,549 | 3.63% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,635 | 2.75% |
| Maysville, KY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,902 | 4.00% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $1,713 | 5.63% |
| Somerset, KY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,186 | 5.50% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,992 | 3.00% |
| Glasgow, KY (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,564 | 2.50% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.50% |
| OCALA, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.25% |
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.
Similarity Rank: 288
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Product Mix
For 2022, Central Bank's most frequently originated type of loan was HELOC, with 732 originations. Their 2nd most popular type was Conventional, with 639 originations.
Loan Reason
For 2022, Central Bank's most frequently cited loan purpose was Home Purchase, with 504 originations. The 2nd most popular reason was Refi, with 364 originations.
Loan Duration/Length
For 2022, Central Bank's most frequently cited loan duration was 10 Year, with 658 originations. The 2nd most popular length was 30 Year, with 428 originations.
Origination Fees/Closing Costs
Central Bank's average total fees were $2,821, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 490 originations.
Interest Rates
During 2022, Central Bank's average interest rate for loans was 4.68%, while their most frequently originated rate bucket for loans was 3-4%, with 307 originations.
Loan Sizing
2022 saw Central Bank place emphasis on $100,000 or less loans with 511 originations, totaling $27,675,000 in origination value.
Applicant Income
Central Bank lent most frequently to those with incomes in the $150k-250k range, with 272 originations. The second most popular income band? $100k-150k, with 253 originations.
Applicant Debt to Income Ratio
Central Bank lent most frequently to those with DTI ratios of 20-30%, with 370 originations. The next most common DTI ratio? <20%, with 324 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.01%
Central Bank has an average approval rate.
Pick Rate
Approvals leading to origination89.34%
Central Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,417 | $363,835,000 | $256,764 |