Central Bank of St Louis Mortgage Interest Rate and Cost Review

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

Interest Ratesimilar to average (-0.06%)
Loan Related Closing Costssimilar to average (-$249)
National Rate and Closing Cost Rating(4.0)
Websitehttps://www.centralbank.net/st-louis/

On average, Central Bank of St Louis’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 similar to those of other lenders, with a difference of -$249. Overall, combining interest rates and closing costs we estimate that Central Bank of St Louis tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4.0 out of 5.0 stars.

Central Bank of St Louis’s Rates by Area

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

  1. St. Louis, MO
  2. Nashville, TN
  3. Edwardsville, IL
  4. Village of Four Seasons, MO
  5. Columbia, TN

You can click through to check out Central Bank of St Louis’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 St Louis’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 St Louis 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-0.07%-0.01%+0.01%+0.01%-0.03%
Loan Related Closing Cost Difference-$240-$524+$84-$20+$35
Cost Adjusted Rate Difference-0.10%-0.09%+0.02%+0.00%-0.03%
Star Rating(4.0)(4.0)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference-0.07%-0.01%-0.01%-0.05%
Loan Related Closing Cost Difference-$241-$97+$101-$412
Cost Adjusted Rate Difference-0.09%-0.02%-0.01%-0.07%
Star Rating(4.0)(3.5)(3.5)(4.0)

As a summary, Central Bank of St Louis 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 St Louis 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, and we always recommend shopping among several lenders in your area before signing.

Other information about Central Bank of St Louis:

Registered name: Central Bank Of St Louis
Registered city and state: DES PERES, MO, 63131
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 St Louis’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.