Centric Mortgage Rates, Fees & Info

West Monroe, LA

LEI: 549300TCR1BZRVOO2A49

Tax ID: 72-0488612

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Centric is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Centric has a high proportion of conventional loans. Their top markets by origination volume include: Monroe, Ruston, Shreveport, and Minden among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Centric 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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.17% 12/16/24
    30 Year Conventional Refi 7.51% 12/16/24
    30 Year Cash-out Refi 7.56% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    30 Year VA Purchase 6.27% 12/16/24
    30 Year USDA Purchase 6.27% 12/16/24
    15 Year Conventional Purchase 9.33% 12/16/24
    15 Year Conventional Refi 6.82% 12/16/24
    15 Year Cash-out Refi 6.82% 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.

    Centric Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Centric. 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

    74

    Origination Dollar Volume (All Markets)

    $6,670,000

    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
    MONROE, LA (FHA|USDA|VA) 64 $5,480,000 $85,625 $2,450 5.83%
    Ruston, LA (FHA|USDA|VA) 4 $470,000 $117,500 $2,763 5.72%
    Outside of Metro Areas 4 $430,000 $107,500 $2,967 4.34%
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $275,000 $275,000 $5,626 4.63%
    Minden, LA (FHA|USDA|VA) 1 $15,000 $15,000 $198 4.75%
    Centric's top markets include Monroe, Ruston, Shreveport, and Minden among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)

    • Similar Lenders

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

    Century Next Bank
    Similarity Rank: 91
    STANDARD MORTGAGE CORPORATION
    Similarity Rank: 966
    Eagle Bank and Trust Company
    Similarity Rank: 1150
    TIB The Independent Bankersbank
    Similarity Rank: 1440
    CRESCENT MORTGAGE COMPANY
    Similarity Rank: 1680
    Mortgage Research Center, LLC
    Similarity Rank: 1804
    Origin Bank
    Similarity Rank: 2125
    Iberiabank
    Similarity Rank: 2535
    GMFS LLC
    Similarity Rank: 2574
    BancorpSouth
    Similarity Rank: 5124

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 74 $6,670,000 $90,135 $2,511 5.71%

    For 2018, Centric's most frequently originated type of loan was Conventional, with 74 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 42 $3,290,000 $78,333 $2,168 5.84%
    Home Purchase 21 $2,255,000 $107,381 $3,267 5.52%
    Refi 11 $1,125,000 $102,273 $2,932 5.56%

    For 2018, Centric's most frequently cited loan purpose was Cash Out Refi, with 42 originations. The 2nd most popular reason was Home Purchase, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 40 $4,310,000 $107,750 $3,131 5.64%
    10 Year 23 $1,355,000 $58,913 $1,607 5.72%
    5 Year 5 $125,000 $25,000 $893 5.70%
    Other 3 $375,000 $125,000 $2,963 6.65%
    20 Year 2 $470,000 $235,000 $0 5.50%
    1 Year 1 $35,000 $35,000 $0 6.12%

    For 2018, Centric's most frequently cited loan duration was 15 Year, with 40 originations. The 2nd most popular length was 10 Year, with 23 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 35 $1,465,000 $41,857
    $1k-2k 21 $2,565,000 $122,143
    $2k-3k 5 $1,055,000 $211,000
    $3k-4k 1 $275,000 $275,000

    Centric's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 35 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 37 $3,835,000 $103,649
    7-8% 13 $735,000 $56,538
    6-7% 9 $625,000 $69,444
    5-6% 8 $1,110,000 $138,750
    Over 8% 5 $275,000 $55,000
    3-4% 1 $25,000 $25,000

    During 2018, Centric's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 37 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 49 $2,365,000 $48,265 $1,804 6.00%
    $100k-200k 18 $2,540,000 $141,111 $3,906 4.96%
    $200k-400k 7 $1,765,000 $252,143 $4,268 5.64%

    2018 saw Centric place emphasis on $100,000 or less loans with 49 originations, totaling $2,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 19 $1,885,000 $99,211 $2,528 5.85%
    $50k-75k 17 $1,275,000 $75,000 $2,812 5.79%
    $50k or less 13 $595,000 $45,769 $1,954 5.23%
    $75k-100k 13 $1,345,000 $103,462 $2,885 5.59%
    $150k-250k 4 $400,000 $100,000 $1,818 6.19%

    Centric lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $50k-75k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 20 $1,760,000 $88,000 $2,372 5.68%
    30-36% 20 $1,980,000 $99,000 $2,909 5.86%
    <20% 8 $690,000 $86,250 $2,889 4.54%
    39% 4 $150,000 $37,500 $1,756 5.38%
    37% 4 $320,000 $80,000 $1,756 6.41%
    45% 2 $130,000 $65,000 $2,082 4.81%
    36% 1 $55,000 $55,000 $2,699 4.63%
    40% 1 $75,000 $75,000 $2,846 8.00%
    41% 1 $25,000 $25,000 $662 7.88%
    42% 1 $75,000 $75,000 $2,849 4.38%
    44% 1 $145,000 $145,000 $3,911 4.25%
    38% 1 $45,000 $45,000 $3,148 7.75%
    47% 1 $15,000 $15,000 $145 7.25%

    Centric lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 58 $5,160,000 $88,966 $2,590 5.74%
    Not applicable 8 $1,170,000 $146,250 $0 5.94%
    Black 8 $340,000 $42,500 $1,853 5.25%

    Approval Rates

    Total approvals of all applications
    91.30%

    Centric has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.49%

    Centric has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 74 $6,670,000 $90,135

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 13 $995,000 $76,538
    Single Family (1-4 Units):Site-Built 61 $5,675,000 $93,033

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $665,000 $60,455 $1,561 6.20%
    40-60% 12 $1,030,000 $85,833 $2,849 5.41%
    60-80% 25 $2,935,000 $117,400 $3,443 5.52%
    80-100% 13 $1,665,000 $128,077 $3,494 5.40%
    Under 20% 13 $375,000 $28,846 $616 6.23%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    CENTRAL BANC MORTGAGE CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%