Century Mortgage Rates, Fees & Info
Cleveland, OHLEI: 549300YS7PW1Y7DQZG40
Tax ID: 34-0712519
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Mortgage Data
Review & Overview
Century is a smaller mortgage company specializing in Other, Refi, and Home Purchase loans. Century has a high proportion of conventional loans. Their top markets by origination volume include: Cleveland, Akron, Norwalk, Columbus, and Mount Vernon among others. We have data for 12 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% | 11/21/24 |
| 30 Year Conventional Purchase | 6.27% | 11/21/24 |
| 30 Year Conventional Refi | 6.27% | 11/21/24 |
| 30 Year Cash-out Refi | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 5.68% | 11/21/24 |
| 15 Year Conventional Refi | 5.68% | 11/21/24 |
| 15 Year Cash-out Refi | 5.68% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
460Origination Dollar Volume (All Markets)
$47,750,000Top 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) | 410 | $41,360,000 | $100,878 | $0 | 4.27% |
| AKRON, OH (FHA|USDA|VA) | 34 | $4,830,000 | $142,059 | $0 | 4.11% |
| Outside of Metro Areas | 2 | $410,000 | $205,000 | $0 | 3.80% |
| Norwalk, OH (FHA|USDA|VA) | 4 | $320,000 | $80,000 | $0 | 4.91% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 3.35% |
| Mount Vernon, OH (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 4.05% |
| Wooster, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 2.80% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.80% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 3.10% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 3.90% |
| Ashland, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.15% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 271 | $38,345,000 | $141,494 | $0 | 3.61% |
| HELOC | 189 | $9,405,000 | $49,762 | n/a | 5.17% |
For 2019, Century's most frequently originated type of loan was Conventional, with 271 originations. Their 2nd most popular type was HELOC, with 189 originations.
Loan Reason
For 2019, Century's most frequently cited loan purpose was Other, with 197 originations. The 2nd most popular reason was Refi, with 133 originations.
Loan Duration/Length
For 2019, Century's most frequently cited loan duration was 15 Year, with 154 originations. The 2nd most popular length was 20 Year, with 143 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 271 | $38,345,000 | $141,494 |
Century's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 271 originations.
Interest Rates
During 2019, Century's average interest rate for loans was 3.78%, while their most frequently originated rate bucket for loans was 3-4%, with 201 originations.
Loan Sizing
2019 saw Century place emphasis on $100,000 or less loans with 271 originations, totaling $12,495,000 in origination value.
Applicant Income
Century lent most frequently to those with incomes in the $100k-150k range, with 126 originations. The second most popular income band? $50k-75k, with 104 originations.
Applicant Debt to Income Ratio
Century lent most frequently to those with DTI ratios of 20-30%, with 126 originations. The next most common DTI ratio? 30-36%, with 103 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.21%
Century has an average approval rate.
Pick Rate
Approvals leading to origination71.52%
Century has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 189 | $9,405,000 | $49,762 |
| NA | 271 | $38,345,000 | $141,494 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $170,000 | $85,000 |
| Single Family (1-4 Units):Site-Built | 458 | $47,580,000 | $103,886 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| CENTERSTATE BANK CORPORATION | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| CENTERSTATE BANK CORPORATION | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |