Centerbank Mortgage Rates, Fees & Info
Milford, OHLEI: 549300JICBJ5KEDP3217
Tax ID: 31-1657741
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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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Cincinnati, Phoenix, Santa Rosa, Dayton, and Albemarle among others. We have data for 10 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.
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Originations
122Origination Dollar Volume (All Markets)
$49,760,000Top 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) | 110 | $45,780,000 | $416,182 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $1,355,000 | $1,355,000 | $0 | 0.00% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $0 | 0.00% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $345,000 | $115,000 | $0 | 0.00% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
For 2024, Centerbank's most frequently originated type of loan was Conventional, with 110 originations. Their 2nd most popular type was FHA, with 8 originations.
Loan Reason
For 2024, Centerbank's most frequently cited loan purpose was Home Purchase, with 108 originations. The 2nd most popular reason was Refi, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 122 | $49,760,000 | $407,869 | $0 | 0.00% |
For 2024, Centerbank's most frequently cited loan duration was Other, with 122 originations.
Loan Sizing
2024 saw Centerbank place emphasis on $200k-400k loans with 46 originations, totaling $12,940,000 in origination value.
Applicant Income
Centerbank lent most frequently to those with incomes in the $150k-250k range, with 22 originations. The second most popular income band? $250k+, with 22 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 122 | $49,760,000 | $407,869 | $0 | 0.00% |
Centerbank lent most frequently to those with DTI ratios of Exempt%, with 122 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.23%
Centerbank has an average approval rate.
Pick Rate
Approvals leading to origination80.33%
Centerbank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 122 | $49,760,000 | $407,869 |