Central City Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Central City averaged 6.02% for the week of 2024-10-03, compared to the national average of 6.12% for the same period.

The average rate for the prior week (2024-09-26) was 6.08% and one month ago for the week of 2024-08-29, the average rate was 6.55%.

Central City's average rate one year ago was 7.11%.

For refis of the same type during the week of 2024-10-03, the average rate was 6.12%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-10-03 6.12%
Central City 30 Year Fixed Rate 2024-10-03 6.02%
Central City 30 Year Fixed Rate Refi 2024-10-03 6.12%
Central City 15 Year Fixed Rate 2024-10-03 5.35%
Central City 15 Year Fixed Rate Refi 2024-10-03 5.25%
Central City 30 Year FHA 2024-10-03 6.09%
Central City 30 Year FHA Refi 2024-10-03 5.79%
Central City 30 Year USDA 2024-10-03 6.17%
Central City 30 Year USDA Refi 2024-10-03 5.77%
Central City 30 Year VA 2024-10-03 5.5%
Central City 30 Year VA Refi 2024-10-03 5.5%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Central City, KY.

Central City Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Central City, KY market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
EVANSVILLE TEACHERS 8 7.13% $2,961
Old National Bank 6 6.75% $2,349
STOCKTON MORTGAGE CORPORATION 6 6.92% $3,981
QUICKEN LOANS, LLC 4 6.50% $6,833
U.S. Bank 3 7.00% $5,628
First Southern National Bank 3 8.65% $1,493
RUOFF MORTGAGE COMPANY, INC. 3 6.92% $2,295
21ST MORTGAGE CORPORATION 2 7.90% $6,386
Farm Credit Mid-America, ACA 2 7.38% $7,478
NAVY FEDERAL CREDIT UNION 2 7.13% $1,588
UNITED WHOLESALE MORTGAGE, LLC 2 6.55% $4,651
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.99% $7,168
Bank of America 1 6.50% $3,273
MORTGAGE INVESTORS GROUP, INC. 1 6.88% $3,267
Plains Commerce Bank 1 7.13% $3,211
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.63% $4,384
Morgantown Bank & Trust Company, Incorporated 1 7.75% $3,803
LOANDEPOT.COM, LLC 1 6.88% $5,213
Sierra Pacific Mortgage Company, Inc. 1 7.38% $3,938
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 6.88% $3,327
SUCCESS MORTGAGE PARTNERS, INC. 1 5.99% $8,173
Wells Fargo Bank 1 6.38% $4,344
Mortgage Research Center, LLC 1 5.75% $3,009
Mr. Cooper ( Nationstar Mortgage ) 1 6.49% $5,908

Central City Average Closing Costs & Other Stats

Central City, KY's 24 lenders originated 423 loans during 2023. The total origination value was $48,555,000, with an average loan value of $114,787.

Central City's average closing costs are $4,185.

The top Central City lender as defined by loan originations is EVANSVILLE TEACHERS, with 8 loans originated. Their average total fees are $2,961, which is $611 higher than the next largest lender, Old National Bank.

The lowest fee Central City lenders (with over 10 loans originated) are .

The lowest rate Central City lenders (with over 10 loans originated) are .

Central City, KY Mortgage Market Share & Volume

Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

Name 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
First Southern National Bank $13,300,000 $6,440,000 -51.6% 13.3%
Farmers Bank and Trust Company $13,540,000 $4,775,000 -64.7% 9.8%
Old National Bank $7,390,000 $4,675,000 -36.7% 9.6%
QUICKEN LOANS, LLC $3,930,000 $3,130,000 -20.4% 6.4%
EVERETT FINANCIAL, INC. $2,355,000 $2,870,000 21.9% 5.9%
Mortgage Research Center, LLC $3,935,000 $2,810,000 -28.6% 5.8%
The Sacramento Deposit Bank $815,000 $2,105,000 158.3% 4.3%
EVANSVILLE TEACHERS $1,845,000 $1,920,000 4.1% 4.0%
United Southern Bank $65,000 $1,900,000 2,823.1% 3.9%
STOCKTON MORTGAGE CORPORATION $2,885,000 $1,640,000 -43.2% 3.4%
Farm Credit Mid-America, ACA $850,000 $1,030,000 21.2% 2.1%
Magnolia Bank $355,000 $980,000 176.1% 2.0%
RUOFF MORTGAGE COMPANY, INC. $495,000 $980,000 98.0% 2.0%
UNITED WHOLESALE MORTGAGE, LLC $740,000 n/a 1.5%
21ST MORTGAGE CORPORATION $1,325,000 $735,000 -44.5% 1.5%
NAVY FEDERAL CREDIT UNION $710,000 $635,000 -10.6% 1.3%
U.S. Bank $690,000 $615,000 -10.9% 1.3%
LOANDEPOT.COM, LLC $330,000 $580,000 75.8% 1.2%
ATLANTIC BAY MORTGAGE GROUP, L.L.C. $800,000 $520,000 -35.0% 1.1%
CRESCENT MORTGAGE COMPANY $475,000 n/a 1.0%
VANDERBILT MORTGAGE AND FINANCE, INC. $185,000 $460,000 148.6% 0.9%
USAA Federal Savings Bank $115,000 $455,000 295.7% 0.9%
FIRST COMMUNITY MORTGAGE, INC. $155,000 $380,000 145.2% 0.8%
Morgantown Bank & Trust Company, Incorporated $510,000 $375,000 -26.5% 0.8%
Century Mortgage Company DBA Century Lending Company $905,000 $370,000 -59.1% 0.8%
SUCCESS MORTGAGE PARTNERS, INC. $355,000 n/a 0.7%
Carrington Mortgage Services, LLC $405,000 $340,000 -16.0% 0.7%
CROSSCOUNTRY MORTGAGE, LLC $325,000 n/a 0.7%
MUTUAL OF OMAHA MORTGAGE, INC. $290,000 n/a 0.6%
GERSHMAN INVESTMENT CORP. $310,000 $275,000 -11.3% 0.6%
First Federal Bank $255,000 n/a 0.5%
Bank of America $65,000 $245,000 276.9% 0.5%
CREDIT UNION MORTGAGE ASSOCIATION, INC. $245,000 n/a 0.5%
Northpointe Bank $225,000 n/a 0.5%
COMMONWEALTH $205,000 n/a 0.4%
NATIONWIDE MORTGAGE BANKERS, INC. $205,000 n/a 0.4%
American Bank & Trust Company, Inc. $45,000 $185,000 311.1% 0.4%
TRIAD FINANCIAL SERVICES, INC. $185,000 n/a 0.4%
Wells Fargo Bank $605,000 $185,000 -69.4% 0.4%
AMERISAVE MORTGAGE CORPORATION $170,000 n/a 0.4%
PENNYMAC LOAN SERVICES, LLC $660,000 $165,000 -75.0% 0.3%
Sierra Pacific Mortgage Company, Inc. $165,000 n/a 0.3%
AMERICAN FINANCIAL RESOURCES, INC. $155,000 n/a 0.3%
Plains Commerce Bank $155,000 n/a 0.3%
CARDINAL FINANCIAL $135,000 n/a 0.3%
MORTGAGE INVESTORS GROUP, INC. $135,000 n/a 0.3%
TOP FLITE FINANCIAL, INC. $135,000 n/a 0.3%
Fifth Third Bank $300,000 $130,000 -56.7% 0.3%
Fortera Federal Credit Union $55,000 $120,000 118.2% 0.2%
ENDEAVOR CAPITAL, LLC. $175,000 $105,000 -40.0% 0.2%
LIBERTY HOME MORTGAGE CORPORATION $105,000 n/a 0.2%
SOUTH CENTRAL BANK, INC. $65,000 $105,000 61.5% 0.2%
MORTGAGE SOLUTIONS OF COLORADO, LLC $95,000 n/a 0.2%
Mr. Cooper ( Nationstar Mortgage ) $855,000 $95,000 -88.9% 0.2%
SOUTHPOINT FINANCIAL SERVICES, INC. $95,000 n/a 0.2%
Independence Bank of Kentucky $510,000 $90,000 -82.4% 0.2%
German American Bank $35,000 $85,000 142.9% 0.2%
NEW DAY FINANCIAL, LLC $85,000 n/a 0.2%
FREEDOM MORTGAGE CORPORATION $155,000 $75,000 -51.6% 0.2%
MOVEMENT MORTGAGE, LLC $375,000 $75,000 -80.0% 0.2%
PLANET HOME LENDING, LLC $85,000 $75,000 -11.8% 0.2%
PRIMELENDING, A PLAINSCAPITAL COMPANY $265,000 $75,000 -71.7% 0.2%
Planters Bank, Inc. $125,000 $70,000 -44.0% 0.1%
Citizens Bank $170,000 $65,000 -61.8% 0.1%
Discover Bank $55,000 n/a 0.1%
FirstBank $615,000 $40,000 -93.5% 0.1%
Coastal Community Bank $35,000 n/a 0.1%
Lakeview Community Capital, LLC $35,000 n/a 0.1%
Owensboro Federal Credit Union $25,000 n/a 0.1%

Central City's top lender by overall market share is First Southern National Bank, with 13.3% market share. In second place, with 9.8%, is Farmers Bank and Trust Company, having originated $4,775,000 in loans. In third place, with 9.6%, is Old National Bank, having originated $4,675,000 in loans. In fourth place, with 6.4%, is QUICKEN LOANS, LLC, having originated $3,130,000 in loans. In fifth place, with 5.9%, is EVERETT FINANCIAL, INC., having originated $2,870,000 in loans.

Central City, KY Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 225 $32,605,000 $144,911
Refi 89 $8,575,000 $96,348
Other 41 $2,335,000 $56,951
Home Improvement 40 $1,720,000 $43,000
Cash Out Refi 28 $3,320,000 $118,571

Central City's most frequently cited loan purpose was Home Purchase, with 225 originations. The 2nd most popular reason was Refi, with 89 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 122 $15,880,000 $130,164
7-8% 96 $10,990,000 $114,479
Over 8% 73 $4,535,000 $62,123
5-6% 42 $6,580,000 $156,667
3-4% 17 $115,000 $6,765
4-5% 5 $645,000 $129,000
<2.5% 1 $315,000 $315,000

During 2023, Central City's most frequently originated rate bucket was 6-7%, with 122 originations.

Loan Sizing (Central City, KY MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 232 $11,260,000 $48,534
$100k-200k 126 $17,640,000 $140,000
$200k-400k 56 $14,540,000 $259,643
$400k-600k 6 $2,850,000 $475,000
$600k-1000k 3 $2,265,000 $755,000

Central City's loan sizing saw the bucket of loans from $100,000 or less with 232 originations, totaling $11,260,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 136 $21,500,000 $158,088
20-40% 59 $3,125,000 $52,966
60-80% 58 $7,840,000 $135,172
Under 20% 54 $1,400,000 $25,926
40-60% 44 $4,300,000 $97,727
Over 100% 5 $895,000 $179,000

Central City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 136 originations, totaling $21,500,000 in origination value.