Centennial Lending Mortgage Rates, Fees & Info

Centennial, CO

LEI: 549300J3YLW53W0K4T67

Tax ID: 84-1553724

5 stars - Updated: 3/28/24 - out of 5 stars, based on 8 reviews

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

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Mortgage Data

Review & Overview

Centennial Lending is a smaller mortgage company specializing in Home Purchase loans. Centennial Lending has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Cheyenne, Denver, Greeley, Omaha, and Riverton among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

Centennial Lending has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Centennial Lending is typically an average 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 relatively high 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
30 Year Conventional Purchase 6.33% 3/28/24
30 Year Conventional Refi 6.40% 3/28/24
30 Year Cash-out Refi 6.58% 3/28/24
30 Year FHA Purchase 7.04% 3/28/24
30 Year FHA Refi 6.27% 3/28/24
30 Year VA Purchase 6.18% 3/28/24
30 Year USDA Purchase 6.59% 3/28/24
15 Year Conventional Purchase 6.34% 3/28/24
15 Year Conventional Refi 6.06% 3/28/24
15 Year Cash-out Refi 6.06% 3/28/24
15 Year FHA Purchase 5.68% 3/28/24
15 Year FHA Refi 5.68% 3/28/24
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.

Centennial Lending Mortgage Calculator






Your Estimates

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

This is not an official calculator from Centennial Lending. 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

64

Origination Dollar Volume (All Markets)

$14,040,000

Awards

CENTENNIAL LENDING FHA Loans silver CENTENNIAL LENDING VA Loans silver
Show all (2) awards

Relative Rate

Centennial Lending's average 30 year fixed mortgage rate was 5.82%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.66%.

Relative Fees (Closing Costs)

Centennial Lending's average total fees/closing costs for a 30 year fixed rate mortgage were $7,675.

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 $9,089.

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
CHEYENNE, WY (FHA|USDA|VA) 28 $5,250,000 $187,500 $7,847 4.77%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 7 $2,115,000 $302,143 $7,435 6.66%
Outside of Metro Areas 8 $1,580,000 $197,500 $6,723 6.58%
GREELEY, CO (FHA|USDA|VA) 4 $1,100,000 $275,000 $4,957 7.00%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 3 $835,000 $278,333 $9,911 6.83%
Riverton, WY (FHA|USDA|VA) 2 $400,000 $200,000 $7,834 6.75%
BOULDER, CO (FHA|USDA|VA) 1 $335,000 $335,000 $4,103 7.38%
TUCSON, AZ (FHA|USDA|VA) 1 $335,000 $335,000 $11,506 6.25%
Fort Morgan, CO (FHA|USDA|VA) 1 $275,000 $275,000 $5,509 7.25%
Kearney, NE (FHA|USDA|VA) 1 $245,000 $245,000 $9,295 7.75%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $225,000 $225,000 $6,353 7.13%
LINCOLN, NE (FHA|USDA|VA) 1 $215,000 $215,000 $4,638 6.38%
PUEBLO, CO (FHA|USDA|VA) 1 $215,000 $215,000 $8,037 6.75%
Norfolk, NE (FHA|USDA|VA) 1 $205,000 $205,000 $7,568 7.25%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $195,000 $195,000 $4,937 6.50%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $195,000 $195,000 $0 7.63%
Beatrice, NE (FHA|USDA|VA) 1 $185,000 $185,000 $7,146 5.50%
Sterling, CO (FHA|USDA|VA) 1 $135,000 $135,000 $4,038 6.00%
Centennial Lending's top markets include Cheyenne, Denver, Greeley, Omaha, and Riverton among others.

Their top states include:
  • Wyoming (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Similar Lenders

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

    U.S. HOME MORTGAGE, INC.
    Similarity Rank: 72
    CORNHUSKER BANK
    Similarity Rank: 90
    PIMA Federal Credit Union
    Similarity Rank: 110
    CENTENNIAL LENDING, LLC
    Similarity Rank: 126
    LIBERTY FIRST
    Similarity Rank: 225
    Blue Federal Credit Union
    Similarity Rank: 255
    Security First Bank
    Similarity Rank: 260
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 300
    Lincoln FSB of Nebraska
    Similarity Rank: 425

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 30 $5,100,000 $170,000 $5,385 5.33%
    FHA 23 $5,655,000 $245,870 $9,111 6.46%
    VA 11 $3,285,000 $298,636 $7,210 6.18%

    For 2023, Centennial Lending's most frequently originated type of loan was Conventional, with 30 originations. Their 2nd most popular type was FHA, with 23 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 54 $12,030,000 $222,778 $7,524 5.69%
    Cash Out Refi 7 $1,545,000 $220,714 $5,848 6.86%
    Refi 3 $465,000 $155,000 $6,848 7.00%

    For 2023, Centennial Lending's most frequently cited loan purpose was Home Purchase, with 54 originations. The 2nd most popular reason was Cash Out Refi, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 57 $13,225,000 $232,018 $7,675 5.82%
    10 Year 3 $125,000 $41,667 $2,048 6.58%
    20 Year 3 $465,000 $155,000 $4,026 6.00%
    15 Year 1 $225,000 $225,000 $6,353 7.13%

    For 2023, Centennial Lending's most frequently cited loan duration was 30 Year, with 57 originations. The 2nd most popular length was 10 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 18 $3,680,000 $204,444
    $3k-4k 18 $4,560,000 $253,333
    $<1k 8 $240,000 $30,000
    $1k-2k 6 $930,000 $155,000
    $4k-5k 6 $1,890,000 $315,000
    $5k+ 5 $2,255,000 $451,000

    Centennial Lending's average total fees were $7,675, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 18 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 23 $5,635,000 $245,000
    7-8% 18 $4,130,000 $229,444
    6-7% 17 $4,205,000 $247,353
    <2.5% 6 $70,000 $11,667

    During 2023, Centennial Lending's average interest rate for loans was 5.82%, while their most frequently originated rate bucket for loans was 5-6%, with 23 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 36 $9,470,000 $263,056 $8,396 6.58%
    $100k-200k 15 $2,575,000 $171,667 $4,961 6.30%
    $100,000 or less 10 $270,000 $27,000 $2,119 2.69%
    $600k-1MM 2 $1,270,000 $635,000 $10,364 6.25%
    $400k-600k 1 $455,000 $455,000 $8,296 5.63%

    2023 saw Centennial Lending place emphasis on $200k-400k loans with 36 originations, totaling $9,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 25 $4,525,000 $181,000 $7,117 5.55%
    $75k-100k 21 $4,525,000 $215,476 $7,309 5.57%
    $100k-150k 10 $2,910,000 $291,000 $8,506 6.79%
    $50k or less 5 $975,000 $195,000 $5,175 6.45%
    $150k-250k 2 $910,000 $455,000 $10,225 6.56%
    $250k+ 1 $195,000 $195,000 $0 7.63%

    Centennial Lending lent most frequently to those with incomes in the $50k-75k range, with 25 originations. The second most popular income band? $75k-100k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    42% 9 $1,695,000 $188,333 $8,538 3.97%
    30-36% 9 $2,145,000 $238,333 $6,105 6.74%
    20-30% 8 $1,440,000 $180,000 $5,393 6.61%
    50-60% 7 $2,115,000 $302,143 $8,343 6.13%
    40% 5 $925,000 $185,000 $7,812 5.08%
    37% 4 $690,000 $172,500 $8,875 5.13%
    47% 4 $1,230,000 $307,500 $8,081 6.84%
    46% 3 $595,000 $198,333 $4,359 6.75%
    36% 2 $260,000 $130,000 $9,295 2.88%
    43% 2 $490,000 $245,000 $8,502 5.88%
    44% 2 $230,000 $115,000 $8,395 6.38%
    41% 2 $520,000 $260,000 $8,130 6.19%
    38% 2 $490,000 $245,000 $5,645 6.56%
    48% 2 $390,000 $195,000 $12,058 7.13%
    39% 1 $195,000 $195,000 $7,298 6.25%
    45% 1 $295,000 $295,000 $11,371 7.25%
    49% 1 $335,000 $335,000 $4,103 7.38%

    Centennial Lending lent most frequently to those with DTI ratios of 42%, with 9 originations. The next most common DTI ratio? 30-36%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 57 $12,035,000 $211,140 $7,435 5.77%
    Not provided 3 $865,000 $288,333 $8,410 6.75%
    Filipino 1 $455,000 $455,000 $8,296 5.63%
    Other Asian 1 $335,000 $335,000 $4,103 7.38%
    Asian 1 $195,000 $195,000 $0 7.63%
    Native Hawaiian or Islander 1 $155,000 $155,000 $2,087 6.75%

    Approval Rates

    Total approvals of all applications
    57.63%

    Centennial Lending has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    -1.56%

    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 64 $14,040,000 $219,375

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    64 $14,040,000 $219,375

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $790,000 $131,667 $2,709 6.60%
    40-60% 8 $1,780,000 $222,500 $5,832 6.38%
    60-80% 4 $1,050,000 $262,500 $6,216 7.09%
    80-100% 37 $10,055,000 $271,757 $8,276 6.43%
    Over 100% 1 $225,000 $225,000 $11,523 6.25%
    Under 20% 8 $140,000 $17,500 $0 1.67%