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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 Home Purchase and Cash Out Refi loans. Centric has a high proportion of conventional loans. Their top markets by origination volume include: Monroe, Ruston, Minden, and Shreveport among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Centric 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. Centric 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 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.

    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

    146

    Origination Dollar Volume (All Markets)

    $18,770,000

    Awards

    CENTRIC 30 Year Conventional Loans bronze CENTRIC 30 Year Conventional Loans gold
    Show all (2) awards

    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) 98 $12,990,000 $132,551 $3,282 5.68%
    Ruston, LA (FHA|USDA|VA) 26 $3,350,000 $128,846 $3,821 5.49%
    Outside of Metro Areas 19 $2,055,000 $108,158 $3,560 5.89%
    Minden, LA (FHA|USDA|VA) 2 $190,000 $95,000 $2,367 5.69%
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $185,000 $185,000 $4,418 6.00%
    Centric's top markets include Monroe, Ruston, Minden, and Shreveport 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.

    Cross Keys Bank
    Similarity Rank: 114
    CENTRIC
    Similarity Rank: 155
    Century Next Bank
    Similarity Rank: 432
    First Horizon Bank
    Similarity Rank: 3135
    Origin Bank
    Similarity Rank: 3240
    Eagle Bank and Trust Company
    Similarity Rank: 3360
    Wells Fargo Bank
    Similarity Rank: 3676
    Mortgage Research Center, LLC
    Similarity Rank: 3704
    GMFS LLC
    Similarity Rank: 4680
    Regions Bank
    Similarity Rank: 4824

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 146 $18,770,000 $128,562 $3,408 5.68%

    For 2022, Centric's most frequently originated type of loan was Conventional, with 146 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 77 $12,415,000 $161,234 $4,261 5.70%
    Cash Out Refi 52 $4,360,000 $83,846 $2,530 5.79%
    Refi 17 $1,995,000 $117,353 $3,135 5.24%

    For 2022, Centric's most frequently cited loan purpose was Home Purchase, with 77 originations. The 2nd most popular reason was Cash Out Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 80 $12,830,000 $160,375 $4,098 5.55%
    15 Year 34 $2,650,000 $77,941 $2,369 5.79%
    10 Year 16 $770,000 $48,125 $1,874 6.24%
    20 Year 7 $745,000 $106,429 $2,977 5.61%
    5 Year 7 $715,000 $102,143 $3,117 5.41%
    Other 2 $1,060,000 $530,000 $2,275 5.38%

    For 2022, Centric's most frequently cited loan duration was 30 Year, with 80 originations. The 2nd most popular length was 15 Year, with 34 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 52 $6,590,000 $126,731
    $<1k 48 $3,670,000 $76,458
    $2k-3k 24 $5,200,000 $216,667
    $3k-4k 1 $305,000 $305,000

    Centric's average total fees were $4,098, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 52 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 44 $6,400,000 $145,455
    6-7% 33 $3,465,000 $105,000
    3-4% 23 $3,885,000 $168,913
    4-5% 21 $2,905,000 $138,333
    7-8% 14 $960,000 $68,571
    Over 8% 8 $670,000 $83,750
    2.5-3% 3 $485,000 $161,667

    During 2022, Centric's average interest rate for loans was 5.55%, while their most frequently originated rate bucket for loans was 5-6%, with 44 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 68 $10,300,000 $151,471 $4,030 5.44%
    $100,000 or less 62 $3,540,000 $57,097 $2,262 6.14%
    $200k-400k 14 $3,360,000 $240,000 $4,883 4.92%
    $1MM+ 1 $1,025,000 $1,025,000 $0 5.50%
    $400k-600k 1 $545,000 $545,000 $5,615 3.75%

    2022 saw Centric place emphasis on $100k-200k loans with 68 originations, totaling $10,300,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 44 $5,390,000 $122,500 $3,588 5.45%
    $50k-75k 42 $5,010,000 $119,286 $3,412 5.84%
    $75k-100k 27 $2,875,000 $106,481 $3,196 5.90%
    $100k-150k 22 $3,020,000 $137,273 $3,172 5.94%
    $150k-250k 4 $760,000 $190,000 $3,936 3.94%

    Centric lent most frequently to those with incomes in the $50k or less range, with 44 originations. The second most popular income band? $50k-75k, with 42 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 31 $3,595,000 $115,968 $3,331 5.43%
    30-36% 29 $3,735,000 $128,793 $3,467 5.43%
    <20% 12 $1,080,000 $90,000 $3,299 5.55%
    42% 9 $1,035,000 $115,000 $2,753 6.39%
    37% 7 $865,000 $123,571 $3,686 6.32%
    36% 7 $915,000 $130,714 $3,398 5.84%
    47% 5 $655,000 $131,000 $3,737 6.40%
    38% 5 $525,000 $105,000 $2,800 5.75%
    48% 5 $735,000 $147,000 $3,943 5.23%
    50-60% 4 $340,000 $85,000 $3,402 5.88%
    40% 4 $570,000 $142,500 $4,410 5.56%
    41% 4 $300,000 $75,000 $2,907 5.64%
    43% 4 $520,000 $130,000 $3,343 6.44%
    45% 4 $610,000 $152,500 $3,989 5.41%
    44% 3 $415,000 $138,333 $3,220 5.08%
    46% 2 $260,000 $130,000 $3,539 6.81%
    39% 2 $160,000 $80,000 $2,459 7.81%

    Centric lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? 30-36%, with 29 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 115 $14,235,000 $123,783 $3,385 5.73%
    Black 24 $2,820,000 $117,500 $3,511 5.49%
    Not applicable 7 $1,715,000 $245,000 $0 5.41%

    Approval Rates

    Total approvals of all applications
    69.85%

    Centric has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    40.41%

    Centric 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 146 $18,770,000 $128,562

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    146 $18,770,000 $128,562

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $675,000 $61,364 $2,527 5.85%
    40-60% 13 $1,225,000 $94,231 $3,173 5.48%
    60-80% 37 $4,755,000 $128,514 $3,680 5.24%
    80-100% 66 $10,510,000 $159,242 $4,233 5.68%
    Over 100% 1 $1,025,000 $1,025,000 $0 5.50%
    Under 20% 18 $580,000 $32,222 $1,006 6.61%