Centennial Lending Mortgage Rates, Fees & Info

Centennial, CO

LEI: 549300J3YLW53W0K4T67

Tax ID: 84-1553724

4.7 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Centennial Lending is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and Refi loans. Centennial Lending has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Denver, Cheyenne, Boulder, Fort Collins, and Greeley among others. Centennial Lending has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Centennial Lending is typically an average fee lendor.


Originations

522

Origination Dollar Volume (All Markets)

$120,950,000
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Relative Rate

Centennial Lending 's average 30 year fixed rate mortgage of loans were 2.9%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.25%.

Relative Fees

Centennial Lending 's average total fees for a 30 year fixed rate mortgage are $5,825.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 116 $32,490,000 $280,086 $5,430 2.88%
CHEYENNE, WY (FHA|USDA|VA) 134 $30,010,000 $223,955 $5,685 2.63%
BOULDER, CO (FHA|USDA|VA) 28 $8,790,000 $313,929 $5,356 2.72%
FORT COLLINS, CO (FHA|USDA|VA) 27 $7,925,000 $293,519 $6,176 2.88%
GREELEY, CO (FHA|USDA|VA) 21 $6,285,000 $299,286 $5,066 2.58%
Outside of Metro Areas 38 $6,090,000 $160,263 $4,521 2.58%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 30 $5,660,000 $188,667 $5,081 2.81%
LINCOLN, NE (FHA|USDA|VA) 19 $3,635,000 $191,316 $4,666 2.86%
GRAND JUNCTION, CO (FHA|USDA|VA) 12 $2,020,000 $168,333 $4,274 2.88%
PUEBLO, CO (FHA|USDA|VA) 10 $2,020,000 $202,000 $4,729 3.11%
COLORADO SPRINGS, CO (FHA|USDA|VA) 6 $1,870,000 $311,667 $6,190 2.81%
IDAHO FALLS, ID (FHA|USDA|VA) 11 $1,705,000 $155,000 $4,483 2.77%
CASPER, WY (FHA|USDA|VA) 8 $1,540,000 $192,500 $4,575 2.77%
OKLAHOMA CITY, OK (FHA|USDA|VA) 9 $1,315,000 $146,111 $5,311 2.76%
TUCSON, AZ (FHA|USDA|VA) 9 $1,215,000 $135,000 $4,274 2.88%
Laramie, WY (FHA|USDA|VA) 5 $1,155,000 $231,000 $5,049 3.43%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 4 $720,000 $180,000 $7,891 3.09%
Rexburg, ID (FHA|USDA|VA) 3 $575,000 $191,667 $5,659 2.83%
Breckenridge, CO (FHA|USDA|VA) 2 $560,000 $280,000 $4,766 2.31%
Beatrice, NE (FHA|USDA|VA) 6 $560,000 $93,333 $4,535 3.04%
Nogales, AZ (FHA|USDA|VA) 2 $490,000 $245,000 $6,574 3.06%
POCATELLO, ID (FHA|USDA|VA) 2 $400,000 $200,000 $6,270 3.00%
Sterling, CO (FHA|USDA|VA) 1 $395,000 $395,000 $5,184 2.75%
Cañon City, CO (FHA|USDA|VA) 1 $365,000 $365,000 $6,872 3.13%
SANTA FE, NM (FHA|USDA|VA) 1 $365,000 $365,000 $6,133 3.25%
Norfolk, NE (FHA|USDA|VA) 1 $325,000 $325,000 $6,751 2.63%
SALEM, OR (FHA|USDA|VA) 1 $275,000 $275,000 $4,854 2.75%
Hastings, NE (FHA|USDA|VA) 2 $250,000 $125,000 $4,063 2.81%
Ontario, OR-ID (FHA|USDA|VA) 1 $245,000 $245,000 $6,284 2.63%
Glenwood Springs, CO (FHA|USDA|VA) 1 $245,000 $245,000 $5,339 3.00%
Montrose, CO (FHA|USDA|VA) 2 $210,000 $105,000 $4,153 2.88%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $205,000 $205,000 $5,344 2.38%
Evanston, WY (FHA|USDA|VA) 1 $195,000 $195,000 $4,361 2.88%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $185,000 $185,000 $0 3.88%
Fort Morgan, CO (FHA|USDA|VA) 1 $175,000 $175,000 $4,352 3.25%
LAS CRUCES, NM (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.50%
Duncan, OK (FHA|USDA|VA) 1 $105,000 $105,000 $4,600 2.88%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $105,000 $105,000 $4,436 2.13%
Blackfoot, ID (FHA|USDA|VA) 1 $75,000 $75,000 $3,545 2.13%
Gallup, NM (FHA|USDA|VA) 1 $75,000 $75,000 $3,644 2.75%

Centennial Lending 's top markets include Denver, Cheyenne, Boulder, Fort Collins, and Greeley among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 460 $103,920,000 $225,913 $4,858 2.78%
FHA 32 $7,150,000 $223,438 $8,644 2.92%
VA 30 $9,880,000 $329,333 $7,312 2.51%

For the 2021 period, Centennial Lending 's most frequently originated loan type of loans were Conventional, with 460 originations. Their 2nd most popular type is FHA, with 32 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 194 $50,850,000 $262,113 $6,598 2.81%
Cash Out Refi 169 $37,525,000 $222,041 $4,844 2.86%
Refi 159 $32,575,000 $204,874 $4,318 2.64%

For the 2021, Centennial Lending 's most frequently cited loan purpose of loans were Home Purchase, with 194 originations. The 2nd most popular reason of loans were Cash Out Refi, with 169 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 364 $93,540,000 $256,978 $5,825 2.90%
15 Year 102 $18,440,000 $180,784 $3,986 2.38%
20 Year 34 $6,270,000 $184,412 $4,398 2.76%
10 Year 21 $2,335,000 $111,190 $3,223 2.44%
Other 1 $365,000 $365,000 $0 3.88%

For the 2021, Centennial Lending 's most frequently cited loan length of loans were 30 Year, with 364 originations. The 2nd most popular length of loans were 15 Year, with 102 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$3k-4k 189 $52,355,000 $277,011
$2k-3k 148 $23,940,000 $161,757
$5k+ 54 $23,840,000 $441,481
$1k-2k 52 $5,870,000 $112,885
$<1k 29 $4,165,000 $143,621

$5,825 of loans were Centennial Lending 's average total fees, while their most frequently occuring range of origination fees were in the $3k-4k bucket, with 189 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 240 $59,060,000 $246,083
<2.5% 144 $26,550,000 $184,375
3-4% 135 $34,245,000 $253,667
4-5% 3 $1,095,000 $365,000

During 2021, Centennial Lending 's average interest rate of loans were 2.90%, while their most frequently originated rate bucket of loans were 2.5-3%, with 240 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 226 $63,270,000 $279,956 $5,938 2.91%
$100k-200k 168 $25,550,000 $152,083 $4,144 2.77%
$100,000 or less 71 $4,335,000 $61,056 $3,114 2.29%
$400k-600k 53 $24,845,000 $468,774 $7,949 2.82%
$600k-1MM 4 $2,950,000 $737,500 $10,939 3.50%

2021 saw Centennial Lending place emphasis on $200k-400k loans with 226 originations, totaling $63,270,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 120 $22,750,000 $189,583 $5,307 2.76%
$100k-150k 117 $32,255,000 $275,684 $5,583 2.81%
$75k-100k 109 $26,035,000 $238,853 $5,480 2.80%
$50k or less 94 $12,690,000 $135,000 $4,247 2.69%
$150k-250k 59 $20,135,000 $341,271 $6,672 2.89%
$250k+ 8 $2,750,000 $343,750 $5,816 3.28%

Centennial Lending lent most frequently to those with incomes in the $50k-75k range, with 120 originations. The second most popular income band? $100k-150k, with 117 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 133 $28,655,000 $215,451 $4,837 2.67%
30-36% 92 $21,850,000 $237,500 $5,117 2.83%
<20% 54 $10,910,000 $202,037 $4,392 2.68%
40% 26 $5,680,000 $218,462 $6,232 2.75%
38% 21 $5,225,000 $248,810 $4,975 2.63%
39% 20 $5,290,000 $264,500 $5,729 3.03%
41% 19 $3,955,000 $208,158 $5,247 2.53%
37% 19 $5,755,000 $302,895 $6,483 2.90%
36% 18 $3,550,000 $197,222 $4,866 2.76%
43% 17 $4,145,000 $243,824 $5,416 2.99%
44% 17 $4,085,000 $240,294 $6,232 2.86%
50-60% 16 $3,690,000 $230,625 $8,198 2.91%
49% 14 $4,210,000 $300,714 $6,355 3.04%
42% 13 $2,445,000 $188,077 $5,052 2.78%
48% 10 $2,380,000 $238,000 $5,040 2.86%
>60% 10 $2,980,000 $298,000 $4,316 2.69%
46% 9 $2,385,000 $265,000 $6,698 2.97%
47% 8 $2,260,000 $282,500 $6,259 3.00%
45% 6 $1,500,000 $250,000 $5,909 2.92%

Centennial Lending lent most frequently to those with DTI ratios of 20-30%, with 133 originations. The next most common DTI ratio? 30-36%, with 92 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 407 $94,295,000 $231,683 $5,211 2.76%
Not provided 89 $21,375,000 $240,169 $5,440 2.86%
Black 10 $2,390,000 $239,000 $6,165 2.89%
Asian 5 $935,000 $187,000 $4,728 3.05%
Native Hawaiian 4 $830,000 $207,500 $7,634 2.00%
American Indian 5 $665,000 $133,000 $4,661 2.18%
Other Asian 2 $460,000 $230,000 $8,129 3.13%

Approval Rates

Total approvals of all applications
79.71%

Centennial Lending has a below average approval rate.

Pick Rate

Approvals leading to origination
26.47%

Centennial Lending has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 522 $120,950,000 $231,705

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
522 $120,950,000 $231,705

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 72 $10,180,000 $141,389 $3,826 2.56%
40-60% 121 $24,895,000 $205,744 $4,465 2.69%
60-80% 158 $42,950,000 $271,835 $5,274 2.98%
80-100% 144 $40,720,000 $282,778 $6,697 2.93%
Over 100% 3 $1,035,000 $345,000 $14,116 2.71%
Under 20% 24 $1,170,000 $48,750 $2,596 1.59%