Centris Federal Credit Union Mortgage Rates, Fees & Info

Omaha, NE

LEI: 549300TTNSX94TR06G13

Tax ID: 47-0376036

5 stars - out of 5 stars, based on 36 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Centris Federal Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. Centris Federal Credit Union has a high proportion of conventional loans. Their top markets include Omaha, Grand Island, North Platte, Lincoln, and Kearney among others. Centris Federal Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Centris Federal Credit Union is typically a low fee lendor.


Originations

1,332

Origination Dollar Volume (All Markets)

$214,140,000
Show all (5) awards

Relative Rate

Centris Federal Credit Union's average 30 year fixed rate mortgage of loans were 3.03%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.12%.

Relative Fees

Centris Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $2,175.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1,195 $196,155,000 $164,146 $1,705 3.33%
GRAND ISLAND, NE (FHA|USDA|VA) 39 $4,865,000 $124,744 $1,590 3.71%
North Platte, NE (FHA|USDA|VA) 44 $4,710,000 $107,045 $1,475 3.77%
Outside of Metro Areas 21 $2,865,000 $136,429 $1,955 3.54%
LINCOLN, NE (FHA|USDA|VA) 17 $2,695,000 $158,529 $1,485 3.56%
Kearney, NE (FHA|USDA|VA) 5 $1,075,000 $215,000 $2,397 2.90%
Fremont, NE (FHA|USDA|VA) 4 $580,000 $145,000 $1,688 2.86%
Hastings, NE (FHA|USDA|VA) 2 $470,000 $235,000 $2,396 3.13%
Columbus, NE (FHA|USDA|VA) 1 $385,000 $385,000 $2,502 2.75%
Lexington, NE (FHA|USDA|VA) 3 $315,000 $105,000 $1,430 3.41%
Beatrice, NE (FHA|USDA|VA) 1 $25,000 $25,000 $279 4.50%

Centris Federal Credit Union's top markets include Omaha, Grand Island, North Platte, Lincoln, and Kearney among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,313 $209,415,000 $159,494 $1,661 3.37%
VA 19 $4,725,000 $248,684 $4,066 2.49%

For the 2021 period, Centris Federal Credit Union's most frequently originated loan type of loans were Conventional, with 1,313 originations. Their 2nd most popular type is VA, with 19 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 427 $66,815,000 $156,475 $1,649 3.05%
Cash Out Refi 377 $65,735,000 $174,363 $2,032 2.90%
Home Purchase 305 $69,375,000 $227,459 $2,296 3.01%
Other 115 $6,685,000 $58,130 $498 5.24%
Home Improvement 107 $5,405,000 $50,514 $395 5.17%
NA 1 $125,000 $125,000 $0 4.75%

For the 2021, Centris Federal Credit Union's most frequently cited loan purpose of loans were Refi, with 427 originations. The 2nd most popular reason of loans were Cash Out Refi, with 377 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 674 $137,810,000 $204,466 $2,175 3.03%
15 Year 374 $48,580,000 $129,893 $1,421 3.31%
10 Year 117 $8,135,000 $69,530 $714 4.72%
20 Year 83 $15,165,000 $182,711 $1,958 2.87%
Other 75 $3,155,000 $42,067 $329 4.89%
5 Year 8 $820,000 $102,500 $292 4.16%
1 Year 1 $475,000 $475,000 $0 4.25%

For the 2021, Centris Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 674 originations. The 2nd most popular length of loans were 15 Year, with 374 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,261 $204,635,000 $162,280
$1k-2k 2 $210,000 $105,000
$2k-3k 2 $340,000 $170,000

$2,175 of loans were Centris Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,261 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 563 $112,095,000 $199,103
3-4% 310 $53,700,000 $173,226
<2.5% 213 $33,605,000 $157,770
4-5% 146 $10,050,000 $68,836
5-6% 41 $1,815,000 $44,268
6-7% 40 $1,970,000 $49,250
Over 8% 17 $795,000 $46,765
7-8% 2 $110,000 $55,000

During 2021, Centris Federal Credit Union's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were 2.5-3%, with 563 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 539 $79,235,000 $147,004 $1,892 2.95%
$100,000 or less 397 $23,235,000 $58,526 $839 4.35%
$200k-400k 363 $96,065,000 $264,642 $2,206 2.91%
$400k-600k 31 $14,295,000 $461,129 $2,937 2.94%
$600k-1MM 2 $1,310,000 $655,000 $3,056 2.88%

2021 saw Centris Federal Credit Union place emphasis on $100k-200k loans with 539 originations, totaling $79,235,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 353 $66,445,000 $188,229 $1,728 3.39%
$50k-75k 285 $36,405,000 $127,737 $1,691 3.21%
$75k-100k 275 $43,055,000 $156,564 $1,709 3.41%
$50k or less 197 $19,805,000 $100,533 $1,506 3.33%
$150k-250k 163 $34,005,000 $208,620 $1,862 3.48%
$250k+ 36 $10,260,000 $285,000 $1,848 3.31%

Centris Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 353 originations. The second most popular income band? $50k-75k, with 285 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 390 $62,780,000 $160,974 $1,679 3.24%
30-36% 290 $44,610,000 $153,828 $1,666 3.52%
<20% 137 $22,365,000 $163,248 $1,729 2.90%
40% 52 $7,970,000 $153,269 $1,950 3.29%
36% 49 $7,215,000 $147,245 $1,292 3.71%
43% 47 $8,685,000 $184,787 $1,875 3.51%
44% 45 $7,675,000 $170,556 $1,881 3.16%
42% 44 $7,110,000 $161,591 $1,595 3.47%
39% 44 $6,820,000 $155,000 $1,566 3.81%
38% 41 $5,145,000 $125,488 $1,467 3.51%
41% 37 $5,235,000 $141,486 $1,393 4.15%
37% 35 $5,815,000 $166,143 $1,946 3.46%
45% 23 $3,655,000 $158,913 $1,946 3.34%
47% 22 $4,370,000 $198,636 $2,088 2.84%
46% 18 $3,700,000 $205,556 $1,921 3.29%
48% 18 $3,750,000 $208,333 $2,147 3.03%
49% 17 $3,415,000 $200,882 $1,979 2.91%
50-60% 12 $1,810,000 $150,833 $1,190 3.81%
>60% 1 $205,000 $205,000 $1,840 2.63%

Centris Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 390 originations. The next most common DTI ratio? 30-36%, with 290 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,021 $165,255,000 $161,856 $1,732 3.30%
Not provided 227 $34,375,000 $151,432 $1,519 3.59%
Black 39 $5,135,000 $131,667 $1,544 3.43%
Asian 17 $4,995,000 $293,824 $2,116 2.84%
Not applicable 10 $1,810,000 $181,000 $0 4.27%
American Indian 11 $1,725,000 $156,818 $2,286 3.59%
Native Hawaiian 4 $370,000 $92,500 $1,234 3.60%
Asian Indian 1 $315,000 $315,000 $1,925 2.25%
Chinese 1 $135,000 $135,000 $0 3.25%
Guamanian 1 $25,000 $25,000 $59 6.25%

Approval Rates

Total approvals of all applications
92.08%

Centris Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
80.18%

Centris Federal Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,332 $214,140,000 $160,766

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,332 $214,140,000 $160,766

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 165 $12,215,000 $74,030 $916 4.30%
40-60% 228 $31,020,000 $136,053 $1,710 2.84%
60-80% 509 $97,665,000 $191,876 $1,968 2.96%
80-100% 299 $68,015,000 $227,475 $2,286 3.03%
Over 100% 1 $245,000 $245,000 $0 4.15%
Under 20% 130 $4,980,000 $38,308 $375 5.36%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Central Mortgage Funding, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%