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 7% for the week of 2024-02-22, compared to the national average of 6.9% for the same period.

The average rate for the prior week (2024-02-15) was 6.57% and one month ago for the week of 2024-01-18, the average rate was 6.6%.

Central City's average rate one year ago was 6.55%.

For refis of the same type during the week of 2024-02-22, the average rate was 7.4%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-02-22 6.9%
Central City 30 Year Fixed Rate 2024-02-22 7%
Central City 30 Year Fixed Rate Refi 2024-02-22 7.4%
Central City 15 Year Fixed Rate 2024-02-22 6.29%
Central City 15 Year Fixed Rate Refi 2024-02-22 6.39%
Central City 30 Year FHA 2024-02-22 -0.1%
Central City 30 Year FHA Refi 2024-02-22 0%
Central City 30 Year USDA 2024-02-22 -0.2%
Central City 30 Year USDA Refi 2024-02-22 -0.1%
Central City 30 Year VA 2024-02-22 0.1%
Central City 30 Year VA Refi 2024-02-22 0.1%
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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Old National Bank 15 4.37% $2,178
STOCKTON MORTGAGE CORPORATION 10 4.50% $3,608
QUICKEN LOANS, LLC 5 4.92% $7,538
JPMorgan Chase Bank 4 4.25% $5,051
EVANSVILLE TEACHERS 3 3.96% $2,740
U.S. Bank 3 4.71% $2,873
Century Mortgage Company DBA Century Lending Company 2 5.13% $8,488
Independence Bank of Kentucky 2 4.75% $2,358
Bank of England 2 4.94% $3,602
Farm Credit Mid-America, ACA 2 5.05% $7,087
21ST MORTGAGE CORPORATION 2 6.60% $6,467
FirstBank 2 7.62% $5,016
First Southern National Bank 2 3.10% $1,602
Carrington Mortgage Services, LLC 2 5.00% $4,132
North American Savings Bank, F.S.B. 1 4.50% $0
PENNYMAC LOAN SERVICES, LLC 1 3.50% $4,435
PENTAGON FEDERAL CREDIT UNION 1 5.25% $5,170
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.50% $5,572
SOFI LENDING CORP. 1 3.38% $5,203
SOUTH CENTRAL BANK, INC. 1 5.88% $3,267
Truist 1 3.99% $3,550
United Community Bank 1 5.50% $5,716
VANDERBILT MORTGAGE AND FINANCE, INC. 1 7.99% $7,572
Waterstone Mortgage Corporation 1 7.75% $3,669
Wells Fargo Bank 1 5.38% $3,899
AMERICAN FINANCING CORPORATION 1 5.50% $4,408
AMERICAN MORTGAGE SERVICE COMPANY 1 5.88% $3,420
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 3.50% $5,754
CALIBER HOME LOANS, INC. 1 4.95% $2,519
CHURCHILL MORTGAGE CORPORATION 1 7.38% $3,154
DAS Acquisition Company, LLC 1 6.50% $2,951
ENDEAVOR CAPITAL, LLC. 1 5.99% $6,786
LOANDEPOT.COM, LLC 1 4.63% $4,871
Magnolia Bank 1 5.88% $3,526
Morgantown Bank & Trust Company, Incorporated 1 4.45% $2,144
Mortgage Research Center, LLC 1 5.25% $0
MOVEMENT MORTGAGE, LLC 1 6.63% $3,614
M&T Bank 1 3.75% $3,652

Central City Average Closing Costs & Other Stats

Central City, KY's 38 lenders originated 610 loans during 2022. The total origination value was $76,020,000, with an average loan value of $124,623.

Central City's average closing costs are $3,946.

The top Central City lender as defined by loan originations is Old National Bank, with 15 loans originated. Their average total fees are $2,178, which is $1,429 lower than the next largest lender, STOCKTON MORTGAGE CORPORATION.

The lowest fee Central City lenders (with over 10 loans originated) are Old National Bank ($2,178), STOCKTON MORTGAGE CORPORATION ($3,608), .

The lowest rate Central City lenders (with over 10 loans originated) are Old National Bank (4.37%), STOCKTON MORTGAGE CORPORATION (4.50%), .

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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
Farmers Bank and Trust Company $11,805,000 $13,540,000 14.7% 17.8%
First Southern National Bank $7,020,000 $13,300,000 89.5% 17.5%
Old National Bank $13,915,000 $7,390,000 -46.9% 9.7%
Mortgage Research Center, LLC $1,705,000 $3,935,000 130.8% 5.2%
QUICKEN LOANS, LLC $7,325,000 $3,930,000 -46.3% 5.2%
STOCKTON MORTGAGE CORPORATION $7,570,000 $2,885,000 -61.9% 3.8%
EVERETT FINANCIAL, INC. $265,000 $2,355,000 788.7% 3.1%
EVANSVILLE TEACHERS $3,380,000 $1,845,000 -45.4% 2.4%
21ST MORTGAGE CORPORATION $1,240,000 $1,325,000 6.9% 1.7%
JPMorgan Chase Bank $705,000 $1,055,000 49.6% 1.4%
AMERICAN MORTGAGE SERVICE COMPANY $2,350,000 $1,025,000 -56.4% 1.3%
PRIMARY RESIDENTIAL MORTGAGE, INC. $550,000 $980,000 78.2% 1.3%
Century Mortgage Company DBA Century Lending Company $905,000 n/a 1.2%
CALIBER HOME LOANS, INC. $1,455,000 $865,000 -40.5% 1.1%
Mr. Cooper ( Nationstar Mortgage ) $615,000 $855,000 39.0% 1.1%
Farm Credit Mid-America, ACA $950,000 $850,000 -10.5% 1.1%
The Sacramento Deposit Bank $815,000 n/a 1.1%
ATLANTIC BAY MORTGAGE GROUP, L.L.C. $1,860,000 $800,000 -57.0% 1.1%
NAVY FEDERAL CREDIT UNION $1,300,000 $710,000 -45.4% 0.9%
U.S. Bank $1,445,000 $690,000 -52.2% 0.9%
PENNYMAC LOAN SERVICES, LLC $980,000 $660,000 -32.7% 0.9%
FirstBank $65,000 $615,000 846.2% 0.8%
Wells Fargo Bank $520,000 $605,000 16.3% 0.8%
Independence Bank of Kentucky $720,000 $510,000 -29.2% 0.7%
Morgantown Bank & Trust Company, Incorporated $300,000 $510,000 70.0% 0.7%
The Farmers Bank $500,000 n/a 0.7%
RUOFF MORTGAGE COMPANY, INC. $1,635,000 $495,000 -69.7% 0.7%
First Federal Savings Bank $465,000 n/a 0.6%
SOFI LENDING CORP. $460,000 n/a 0.6%
North American Savings Bank, F.S.B. $455,000 n/a 0.6%
Bank of England $540,000 $435,000 -19.4% 0.6%
Barrington Bank & Trust Company, N.A. $420,000 n/a 0.6%
Carrington Mortgage Services, LLC $725,000 $405,000 -44.1% 0.5%
MOVEMENT MORTGAGE, LLC $550,000 $375,000 -31.8% 0.5%
Magnolia Bank $410,000 $355,000 -13.4% 0.5%
CHURCHILL MORTGAGE CORPORATION $125,000 $350,000 180.0% 0.5%
CapStar Bank $345,000 n/a 0.5%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $560,000 $340,000 -39.3% 0.4%
LOANDEPOT.COM, LLC $1,305,000 $330,000 -74.7% 0.4%
GERSHMAN INVESTMENT CORP. $1,585,000 $310,000 -80.4% 0.4%
Fifth Third Bank $470,000 $300,000 -36.2% 0.4%
The Federal Savings Bank $295,000 n/a 0.4%
GUARANTEED RATE, INC. $275,000 n/a 0.4%
PRIMELENDING, A PLAINSCAPITAL COMPANY $265,000 n/a 0.3%
First Financial Bank $25,000 $255,000 920.0% 0.3%
THRIVE MORTGAGE, LLC $155,000 $230,000 48.4% 0.3%
Truist $90,000 $190,000 111.1% 0.2%
VANDERBILT MORTGAGE AND FINANCE, INC. $585,000 $185,000 -68.4% 0.2%
PNC Bank $180,000 n/a 0.2%
AMERICAN ADVISORS GROUP $175,000 n/a 0.2%
AMERICAN PACIFIC MORTGAGE CORPORATION $175,000 n/a 0.2%
ENDEAVOR CAPITAL, LLC. $175,000 n/a 0.2%
PENTAGON FEDERAL CREDIT UNION $175,000 n/a 0.2%
Citizens Bank $465,000 $170,000 -63.4% 0.2%
CLEARPATH LENDING $155,000 n/a 0.2%
FIRST COMMUNITY MORTGAGE, INC. $355,000 $155,000 -56.3% 0.2%
FREEDOM MORTGAGE CORPORATION $2,040,000 $155,000 -92.4% 0.2%
United Community Bank $155,000 n/a 0.2%
SWBC MORTGAGE CORPORATION $195,000 $150,000 -23.1% 0.2%
Waterstone Mortgage Corporation $145,000 n/a 0.2%
Flagstar Bank, FSB $820,000 $125,000 -84.8% 0.2%
Planters Bank, Inc. $125,000 n/a 0.2%
NEWREZ LLC $45,000 $115,000 155.6% 0.2%
ROYAL UNITED MORTGAGE LLC $115,000 n/a 0.2%
The Fisher National Bank $115,000 n/a 0.2%
USAA Federal Savings Bank $255,000 $115,000 -54.9% 0.2%
EMBRACE HOME LOANS, INC. $105,000 n/a 0.1%
PLANET HOME LENDING, LLC $95,000 $85,000 -10.5% 0.1%
AMERICAN FINANCING CORPORATION $105,000 $75,000 -28.6% 0.1%
Bank of America $295,000 $65,000 -78.0% 0.1%
DAS Acquisition Company, LLC $65,000 n/a 0.1%
HOMESIDE FINANCIAL, LLC $270,000 $65,000 -75.9% 0.1%
Limestone Bank, Inc. $65,000 n/a 0.1%
M&T Bank $65,000 n/a 0.1%
SOUTH CENTRAL BANK, INC. $430,000 $65,000 -84.9% 0.1%
United Southern Bank $65,000 n/a 0.1%
Fortera Federal Credit Union $55,000 n/a 0.1%
UNIVERSITY OF KENTUCKY $55,000 n/a 0.1%
American Bank & Trust Company, Inc. $385,000 $45,000 -88.3% 0.1%
German American Bank $35,000 n/a 0.0%
Transportation Federal Credit Union $35,000 n/a 0.0%
The Huntington National Bank $55,000 $15,000 -72.7% 0.0%

Central City's top lender by overall market share is Farmers Bank and Trust Company, with 17.8% market share. In second place, with 17.5%, is First Southern National Bank, having originated $13,300,000 in loans. In third place, with 9.7%, is Old National Bank, having originated $7,390,000 in loans. In fourth place, with 5.2%, is Mortgage Research Center, LLC, having originated $3,935,000 in loans. In fifth place, with 5.2%, is QUICKEN LOANS, LLC, having originated $3,930,000 in loans.

Central City, KY Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 300 $42,480,000 $141,600
Refi 192 $23,920,000 $124,583
Cash Out Refi 45 $6,475,000 $143,889
Other 40 $1,880,000 $47,000
Home Improvement 33 $1,265,000 $38,333

Central City's most frequently cited loan purpose was Home Purchase, with 300 originations. The 2nd most popular reason was Refi, with 192 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
3-4% 137 $18,235,000 $133,102
5-6% 120 $15,840,000 $132,000
4-5% 106 $12,750,000 $120,283
6-7% 46 $5,240,000 $113,913
2.5-3% 28 $3,370,000 $120,357
7-8% 26 $2,700,000 $103,846
Over 8% 16 $1,630,000 $101,875
<2.5% 14 $1,160,000 $82,857

During 2022, Central City's most frequently originated rate bucket was 3-4%, with 137 originations.

Loan Sizing (Central City, KY MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 288 $16,010,000 $55,590
$100k-200k 228 $32,320,000 $141,754
$200k-400k 82 $22,100,000 $269,512
$400k-600k 11 $4,905,000 $445,909
$600k-1000k 1 $685,000 $685,000

Central City's loan sizing saw the bucket of loans from $100,000 or less with 288 originations, totaling $16,010,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 198 $31,080,000 $156,970
60-80% 133 $18,305,000 $137,632
40-60% 55 $5,325,000 $96,818
20-40% 54 $3,000,000 $55,556
Under 20% 38 $800,000 $21,053
Over 100% 6 $1,220,000 $203,333

Central City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 198 originations, totaling $31,080,000 in origination value.