Centennial Lending Mortgage Rates, Fees & Info
Centennial, COLEI: 549300J3YLW53W0K4T67
Tax ID: 84-1553724
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.33% | 12/16/24 |
| 30 Year Conventional Refi | 6.40% | 12/16/24 |
| 30 Year Cash-out Refi | 6.58% | 12/16/24 |
| 30 Year FHA Purchase | 7.04% | 12/16/24 |
| 30 Year FHA Refi | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.18% | 12/16/24 |
| 30 Year USDA Purchase | 6.59% | 12/16/24 |
| 15 Year Conventional Purchase | 6.34% | 12/16/24 |
| 15 Year Conventional Refi | 6.06% | 12/16/24 |
| 15 Year Cash-out Refi | 6.06% | 12/16/24 |
| 15 Year FHA Purchase | 5.68% | 12/16/24 |
| 15 Year FHA Refi | 5.68% | 12/16/24 |
| 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
64Origination Dollar Volume (All Markets)
$14,040,000Awards
CENTENNIAL LENDING - 2023
CENTENNIAL LENDING is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
Similarity Rank: 72
Similarity Rank: 90
Similarity Rank: 110
Similarity Rank: 126
Similarity Rank: 225
Similarity Rank: 225
Similarity Rank: 255
Similarity Rank: 260
Similarity Rank: 300
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
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
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
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
2023 saw Centennial Lending place emphasis on $200k-400k loans with 36 originations, totaling $9,470,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications57.63%
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 |