Central Bank KY Mortgage Interest Rate and Cost Review

Is Central Bank KY a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Central Bank KY to those of other lenders for a comparable set of borrowers. Here is our review of Central Bank KY nationally:

Review ItemCentral Bank KY
Interest Ratelower than other lenders (-0.17%)
Loan Related Closing Costslower than other lenders (-$421)
National Rate and Closing Cost Star Rating(4.5)

On average, Central Bank KY’s interest rates were lower than those of other lenders (-0.17%). Its loan related closing costs were also lower than those of other lenders, with a difference of -$421. Overall, combining interest rates and closing costs we estimate that Central Bank KY tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.5 out of 5 stars. This is an excellent rating and places it among the top 15% of lenders nationwide.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Central Bank KY, check out its website at: https://www.centralbank.com.

Central Bank KY’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Central Bank KY was most active in:

  1. Lexington-Fayette, KY
  2. Cincinnati, OH
  3. Louisville, KY
  4. Richmond, KY
  5. Winchester, KY

In addition, Central Bank KY is our top ranked/best mortgage lender in terms of interest rate and closing costs in:

  1. Lexington-Fayette, KY, overall
  2. Richmond, KY, for VA mortgages
  3. Winchester, KY, overall

Central Bank KY’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Central Bank KY originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.19%-0.15%-0.00%-0.09%-0.06%
Loan Related Closing Cost Difference-$437-$439-$84-$237-$111
Cost Adjusted Rate Difference-0.22%-0.19%-0.01%-0.11%-0.07%
National Star Rating(4.5)(4.5)(3.5)(4)(4)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference-0.19%-0.01%+0.01%-0.07%
Loan Related Closing Cost Difference-$486-$25+$13-$252
Cost Adjusted Rate Difference-0.23%-0.01%+0.01%-0.08%
Average Star Rating(4.5)(3.5)(3.5)(4)

As a summary, Central Bank KY is cheap for Conforming, FHA, USDA and VA purchase mortgages. It is similar to other lenders for Jumbo purchase mortgages. For refinancing mortgages, Central Bank KY is cheap for Conforming and VA mortgage refinance. It is similar to other lenders for FHA and Jumbo mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Central Bank KY:

Registered name: Central Bank & Trust Co
Registered city and state: LEXINGTON, KY, 40588-1360
Regulator: Federal Deposit Insurance Corporation (FDIC)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Central Bank KY’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.