Central Bank of the Ozarks Mortgage Interest Rate and Cost Review

Is Central Bank of the Ozarks a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Central Bank of the Ozarks with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (-0.06%)
Loan Related Closing Costslower than average (-$485)
National Rate and Closing Cost Rating(4.0)
Websitehttps://www.centralbank.net/ozarks/

On average, Central Bank of the Ozarks’s interest rates were similar to those of other lenders (-0.06%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$485. Overall, combining interest rates and closing costs we estimate that Central Bank of the Ozarks tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.0 out of 5.0 stars.

Central Bank of the Ozarks’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Central Bank of the Ozarks was most active in:

  1. Springfield, MO
  2. Branson, MO
  3. Mount Vernon, MO
  4. Joplin, MO
  5. Kansas City, MO

You can click through to check out Central Bank of the Ozarks’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Central Bank of the Ozarks’s Rates 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 of the Ozarks originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo and VA mortgages for refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.03%-0.08%+0.03%+0.03%-0.02%
Loan Related Closing Cost Difference-$469-$225-$16-$172-$168
Cost Adjusted Rate Difference-0.09%-0.11%+0.03%+0.01%-0.04%
Star Rating(4.0)(4.0)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference-0.10%+0.00%+0.01%+0.01%
Loan Related Closing Cost Difference-$678-$55-$1-$27
Cost Adjusted Rate Difference-0.18%-0.00%+0.01%+0.01%
Star Rating(4.5)(3.5)(3.5)(3.5)

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

Other information about Central Bank of the Ozarks:

Registered name: Central Bank Of The Ozarks
Registered city and state: SPRINGFIELD, MO, 65804
Regulator: Federal Reserve System (FRS)
Top holder: CENTRAL BANCOMPANY, INC

* 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 of the Ozarks’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.