Centier Bank Mortgage Interest Rate and Cost Review

Is Centier Bank a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Centier Bank to those of other lenders for a comparable set of borrowers. We maintain our independence by not accepting any money from the mortgage lenders we review. Going by historical data, here is our review of Centier Bank nationally:

Review ItemCentier Bank
Interest Ratesimilar to other lenders (+0.05%)
Loan Related Closing Costslower than other lenders (-$482)

On average, Centier Bank’s interest rates were similar to those of other lenders (+0.05%) for a comparable set of borrowers. On the other hand, its loan related closing costs were lower than those of other lenders, with a difference of -$482. To visit Centier Bank, its website is located at: https://www.centier.com.

Centier Bank’s Rate Review by City

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

  1. Valparaiso, IN
  2. Indianapolis, IN
  3. Lafayette, IN
  4. South Bend, IN
  5. Fort Wayne, IN

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

You can click through to check out Centier Bank’s mortgage rate relative to those of other lenders within each city. Or, for our entire list of the top mortgage lenders by city, click here.

Centier Bank’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, Centier Bank 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.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.10%-0.10%+0.04%-0.05%-0.05%
Loan Related Closing Cost Difference-$454-$291-$64-$82+$28
Cost Adjusted Rate Difference-0.01%-0.13%+0.04%-0.06%-0.05%
National Star Rating(3.5)(4)(3.5)(4)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference-0.02%+0.02%+0.04%-0.00%
Loan Related Closing Cost Difference-$700-$13-$73-$26
Cost Adjusted Rate Difference-0.11%+0.01%+0.04%-0.00%
Average Star Rating(4)(3.5)(3.5)(3.5)

As a summary, Centier Bank is cheap for FHA and USDA purchase mortgages. It is similar to other lenders for Conforming, Jumbo and VA purchase mortgages. For refinancing mortgages, Centier Bank is cheap for Conforming mortgage refinance. It is similar to other lenders for FHA, Jumbo and VA 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 Centier Bank:

Registered name: Centier Bank
Registered city and state: MERRILLVILLE, IN, 46410
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: FIRST BANCSHARES, 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 Centier Bank’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.