Centreville Bank Mortgage Rates, Fees & Info
West Warwick, RILEI: 549300Q4BYXP7YD9UI61
Tax ID: 05-0118560
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Mortgage Data
Review & Overview
Centreville Bank is a smaller bank specializing in Home Purchase and Refi loans. Centreville Bank 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: Providence, Hartford, Boston, Worcester, and Norwich among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Centreville Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Centreville Bank is typically a low 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 about average 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 3.73% | 4/28/24 |
| 30 Year Conventional Purchase | 6.09% | 4/28/24 |
| 30 Year Conventional Refi | 6.13% | 4/28/24 |
| 30 Year Cash-out Refi | 6.45% | 4/28/24 |
| 30 Year FHA Purchase | 7.11% | 4/28/24 |
| 15 Year Conventional Purchase | 5.34% | 4/28/24 |
| 15 Year Conventional Refi | 5.55% | 4/28/24 |
| 15 Year Cash-out Refi | 5.55% | 4/28/24 |
| 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. | ||
Centreville Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
573Origination Dollar Volume (All Markets)
$228,055,000Awards
Centreville Bank - 2022
Centreville Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 407 | $143,795,000 | $353,305 | $2,464 | 3.60% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 8 | $25,420,000 | $3,177,500 | $4,342 | 4.26% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 7 | $19,035,000 | $2,719,286 | $0 | 4.37% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 120 | $17,570,000 | $146,417 | $2,260 | 4.23% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 26 | $11,290,000 | $434,231 | $2,986 | 4.11% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 2 | $10,010,000 | $5,005,000 | $0 | 6.28% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $3,765 | 4.69% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 1.99% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Centreville Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 325 | $198,475,000 | $610,692 | $2,398 | 4.38% |
| HELOC | 246 | $29,010,000 | $117,927 | n/a | 2.99% |
| FHA | 2 | $570,000 | $285,000 | $8,381 | 4.69% |
For 2022, Centreville Bank's most frequently originated type of loan was Conventional, with 325 originations. Their 2nd most popular type was HELOC, with 246 originations.
Loan Reason
For 2022, Centreville Bank's most frequently cited loan purpose was Cash Out Refi, with 186 originations. The 2nd most popular reason was Home Improvement, with 141 originations.
Loan Duration/Length
For 2022, Centreville Bank's most frequently cited loan duration was Other, with 254 originations. The 2nd most popular length was 30 Year, with 125 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 235 | $50,815,000 | $216,234 |
| $1k-2k | 11 | $2,205,000 | $200,455 |
| $2k-3k | 2 | $790,000 | $395,000 |
| $3k-4k | 2 | $470,000 | $235,000 |
Centreville Bank's average total fees were $3,577, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 235 originations.
Interest Rates
During 2022, Centreville Bank's average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 4-5%, with 158 originations.
Loan Sizing
2022 saw Centreville Bank place emphasis on $100,000 or less loans with 207 originations, totaling $11,105,000 in origination value.
Applicant Income
Centreville Bank lent most frequently to those with incomes in the $100k-150k range, with 145 originations. The second most popular income band? $50k-75k, with 101 originations.
Applicant Debt to Income Ratio
Centreville Bank lent most frequently to those with DTI ratios of 20-30%, with 150 originations. The next most common DTI ratio? 30-36%, with 127 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.39%
Centreville Bank has an average approval rate.
Pick Rate
Approvals leading to origination91.45%
Centreville Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 573 | $228,055,000 | $398,002 |