Century Mortgage Rates, Fees & Info

Cleveland, OH

LEI: 549300YS7PW1Y7DQZG40

Tax ID: 34-0712519

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Mortgage Data

Review & Overview

Century is a smaller mortgage company specializing in Other and Refi loans. Century has a high proportion of conventional loans. Their top markets by origination volume include: Cleveland, Akron, Sandusky, Norwalk, and Columbus among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Century has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. 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) 6.27% 3/17/24
30 Year Conventional Purchase 6.27% 3/17/24
30 Year Conventional Refi 6.27% 3/17/24
30 Year Cash-out Refi 6.27% 3/17/24
15 Year Conventional Purchase 5.68% 3/17/24
15 Year Conventional Refi 5.68% 3/17/24
15 Year Cash-out Refi 5.68% 3/17/24
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.

Century Mortgage Calculator






Your Estimates

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

This is not an official calculator from Century. 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

490

Origination Dollar Volume (All Markets)

$53,890,000

Relative Rate

Century's average 30 year fixed mortgage rate was 3.72%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -1.04%.

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
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 442 $47,340,000 $107,104 $0 3.82%
AKRON, OH (FHA|USDA|VA) 39 $5,185,000 $132,949 $0 3.80%
Sandusky, OH (FHA|USDA|VA) 2 $550,000 $275,000 $0 2.68%
Norwalk, OH (FHA|USDA|VA) 1 $315,000 $315,000 $0 3.25%
COLUMBUS, OH (FHA|USDA|VA) 2 $210,000 $105,000 $0 5.00%
Ashland, OH (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.25%
TOLEDO, OH (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.25%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $45,000 $45,000 $0 1.49%
Century's top markets include Cleveland, Akron, Sandusky, Norwalk, and Columbus among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 317 $23,925,000 $75,473 n/a 4.08%
    Conventional 173 $29,965,000 $173,208 $0 3.30%

    For 2022, Century's most frequently originated type of loan was HELOC, with 317 originations. Their 2nd most popular type was Conventional, with 173 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 299 $22,505,000 $75,268 $0 4.05%
    Refi 100 $15,160,000 $151,600 $0 3.17%
    Home Purchase 47 $9,785,000 $208,191 $0 3.94%
    Cash Out Refi 35 $5,755,000 $164,429 $0 3.34%
    Home Improvement 9 $685,000 $76,111 $0 3.81%

    For 2022, Century's most frequently cited loan purpose was Other, with 299 originations. The 2nd most popular reason was Refi, with 100 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 336 $27,130,000 $80,744 $0 4.04%
    30 Year 80 $16,740,000 $209,250 $0 3.72%
    10 Year 38 $5,040,000 $132,632 $0 2.48%
    15 Year 36 $4,980,000 $138,333 $0 3.28%

    For 2022, Century's most frequently cited loan duration was 20 Year, with 336 originations. The 2nd most popular length was 30 Year, with 80 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 114 $13,610,000 $119,386
    <2.5% 103 $10,865,000 $105,485
    2.5-3% 94 $12,670,000 $134,787
    3-4% 82 $10,520,000 $128,293
    5-6% 61 $3,815,000 $62,541
    6-7% 25 $1,745,000 $69,800
    7-8% 6 $230,000 $38,333
    Over 8% 4 $290,000 $72,500

    During 2022, Century's average interest rate for loans was 3.72%, while their most frequently originated rate bucket for loans was 4-5%, with 114 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 267 $13,665,000 $51,180 $0 4.06%
    $100k-200k 151 $19,665,000 $130,232 $0 3.51%
    $200k-400k 65 $17,185,000 $264,385 $0 3.51%
    $400k-600k 6 $2,700,000 $450,000 $0 3.43%
    $600k-1MM 1 $675,000 $675,000 $0 3.35%

    2022 saw Century place emphasis on $100,000 or less loans with 267 originations, totaling $13,665,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 145 $16,135,000 $111,276 $0 3.87%
    $150k-250k 124 $17,570,000 $141,694 $0 3.75%
    $75k-100k 85 $8,335,000 $98,059 $0 3.78%
    $50k-75k 72 $5,270,000 $73,194 $0 3.92%
    $50k or less 39 $2,425,000 $62,179 $0 4.02%
    $250k+ 25 $4,155,000 $166,200 $0 3.20%

    Century lent most frequently to those with incomes in the $100k-150k range, with 145 originations. The second most popular income band? $150k-250k, with 124 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 133 $14,895,000 $111,992 $0 3.79%
    30-36% 93 $11,715,000 $125,968 $0 3.82%
    <20% 89 $9,195,000 $103,315 $0 3.58%
    41% 22 $1,880,000 $85,455 $0 4.33%
    37% 21 $2,845,000 $135,476 $0 3.82%
    39% 18 $2,220,000 $123,333 $0 4.04%
    43% 16 $1,820,000 $113,750 $0 3.79%
    40% 15 $1,825,000 $121,667 $0 3.56%
    38% 14 $1,240,000 $88,571 $0 3.36%
    42% 13 $935,000 $71,923 $0 3.91%
    44% 11 $1,765,000 $160,455 $0 3.54%
    50-60% 11 $565,000 $51,364 $0 4.57%
    45% 9 $1,005,000 $111,667 $0 3.58%
    36% 8 $830,000 $103,750 $0 3.82%
    47% 7 $305,000 $43,571 $0 5.71%
    46% 4 $280,000 $70,000 $0 2.81%
    48% 3 $165,000 $55,000 $0 4.25%
    >60% 3 $405,000 $135,000 $0 3.67%

    Century lent most frequently to those with DTI ratios of 20-30%, with 133 originations. The next most common DTI ratio? 30-36%, with 93 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 244 $25,420,000 $104,180 $0 3.94%
    White 186 $21,890,000 $117,688 $0 3.47%
    Black 47 $3,975,000 $84,574 $0 4.36%
    Asian 9 $2,215,000 $246,111 $0 3.40%
    American Indian 2 $290,000 $145,000 $0 6.63%
    Not applicable 2 $100,000 $50,000 $0 4.60%

    Approval Rates

    Total approvals of all applications
    88.76%

    Century has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.43%

    Century has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 490 $53,890,000 $109,980

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    490 $53,890,000 $109,980

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 151 $12,815,000 $84,868 $0 3.96%
    40-60% 87 $12,045,000 $138,448 $0 3.20%
    60-80% 83 $16,525,000 $199,096 $0 3.66%
    80-100% 29 $6,205,000 $213,966 $0 3.56%
    Under 20% 130 $5,750,000 $44,231 $0 4.10%