Centennial Bank Reviews

Centennial Bank doesn’t publish its current rates for its mortgage loans on its website. For the most accurate rates based on your individual situation, it’s best to contact Centennial Bank.

Generally, mortgage rates vary based on factors like your credit history, the type of loan, the loan amount, your down payment and the loan term.

» MORE: Current mortgage rates — check today’s rates

Centennial Bank offers a variety of mortgage products, including:

• Conventional loans
• Federal Housing Administration (FHA) loans
• U.S. Department of Veterans Affairs (VA) loans
• U.S. Department of Agriculture (USDA) loans
• Jumbo loans

Its loans come with fixed or adjustable rates. It also offers portfolio loan programs, construction-to-permanent loan programs, home equity loans and refinance loans.

Centennial Bank’s application can be completed online, by phone or in person. Generally, be prepared to provide information about the home you’re interested in, along with information about your income, employment, assets and residence history, so Centennial Bank can determine how much you can borrow.

Centennial Bank application process features

The table below shows some of Centennial Bank’s application process features:

» LEARN: How to get a mortgage

Centennial Bank doesn’t publish many of its borrower requirements online. For more information on its requirements, it’s best to contact one of its representatives.

Centennial Bank minimum credit score

Centennial Bank states that its FHA loans require a minimum credit score of 620, but it doesn’t disclose its minimum credit score for VA, USDA, conventional or jumbo loans. Its minimum score for FHA loans is higher than what other lenders typically require, so it may be worth it to shop around and compare rates if you’re interested in FHA loans.

Generally, the minimum credit score requirement for a loan depends on the type of loan you apply for. Lenders typically require a minimum score of 620 for conventional loans, a minimum score of 580 for FHA loans and a minimum score of 620 for VA loans and USDA loans.

Centennial Bank minimum down payment

Centennial Bank doesn’t disclose its minimum down payment requirements. For most lenders, you’ll typically need to put down at least 3% for a conventional loan and 3.5% for an FHA loan. VA and USDA loans don’t require a down payment.

Centennial Bank maximum debt-to-income ratio

Centennial Bank doesn’t disclose its required debt-to-income (DTI) ratio for applicants. Generally, a lender’s maximum DTI ratio will depend on the loan type and your financial situation.

Centennial Bank doesn’t disclose its mortgage costs and fees online. Generally, you can expect to pay closing costs, which typically vary from 2% to 5% of your loan amount. Closing costs typically include fees for loan origination, home appraisals, title insurance and other lender or real estate fees.

Centennial Bank offers similar purchase and refinancing options as other lenders, though it may have higher credit score requirements. Here’s how it compares to other mortgage lenders: