Centerbank Mortgage Rates, Fees & Info
Milford, OHLEI: 549300JICBJ5KEDP3217
Tax ID: 31-1657741
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Centerbank is a smaller bank specializing in Home Purchase loans. Centerbank 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.) Their top markets by origination volume include: Cincinnati, Dayton, Punta Gorda, Detroit, and Port St. Lucie among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Centerbank 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.
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.
Originations
133Origination Dollar Volume (All Markets)
$39,665,000Top 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 |
|---|---|---|---|---|---|
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 119 | $35,745,000 | $300,378 | $0 | 0.00% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 2 | $950,000 | $475,000 | $0 | 0.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $425,000 | $141,667 | $0 | 0.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| New Castle, PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 125 | $37,985,000 | $303,880 | $0 | 0.00% |
| FHA | 7 | $1,295,000 | $185,000 | $0 | 0.00% |
| VA | 1 | $385,000 | $385,000 | $0 | 0.00% |
For 2023, Centerbank's most frequently originated type of loan was Conventional, with 125 originations. Their 2nd most popular type was FHA, with 7 originations.
Loan Reason
For 2023, Centerbank's most frequently cited loan purpose was Home Purchase, with 105 originations. The 2nd most popular reason was Cash Out Refi, with 14 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 133 | $39,665,000 | $298,233 | $0 | 0.00% |
For 2023, Centerbank's most frequently cited loan duration was Other, with 133 originations.
Loan Sizing
2023 saw Centerbank place emphasis on $200k-400k loans with 61 originations, totaling $17,095,000 in origination value.
Applicant Income
Centerbank lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $150k-250k, with 20 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 133 | $39,665,000 | $298,233 | $0 | 0.00% |
Centerbank lent most frequently to those with DTI ratios of Exempt%, with 133 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.88%
Centerbank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination86.47%
Centerbank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 133 | $39,665,000 | $298,233 |