Centier Bank is a family-owned, community-focused financial institution headquartered in Indiana, with a strong presence throughout the state. Known for its personalized service and local decision-making, Centier offers a comprehensive suite of mortgage and home lending solutions designed to meet a wide range of borrower needs. However, borrowers should pay close attention to the rate being offered and compare quotes from multiple lenders when considering Centier, to ensure they’re not receiving a rate higher than the market average.
See today’s mortgage interest rates on TrueRate.
How Centier Bank compares to other lenders
| Headquarters | Merrillville, Indiana |
| Website | centier.com |
| Rate | 0.13% higher than the median rate |
| Lender fees | $920 (median) |
| Savings after 1 year, compared to the median interest rate | $52 |
| Added cost after 10 years, compared to the median interest rate | $3,870 |
| Added cost after 1 year (vs. Tomo Mortgage) | $2,630 |
| Added cost after 10 years (vs. Tomo Mortgage) | $15,055 |
For a $400,000 mortgage, Centier Bank’s rates—about 0.13% higher than the market median—and $920 in lender fees would result in savings of around $50 in the first year, but an added cost of about $3,870 over 10 years compared to a typical lender. That opportunity cost adds up quickly. Buyers should compare offers from multiple lenders—lenders like Tomo Mortgage often deliver savings of $15,000 or more, depending on how long the buyer plans to own the home.
What customers are saying
Centier Bank’s mortgage department receives praise on Yelp for friendly, professional service and smooth closings, especially from realtors and borrowers who value local expertise. Some reviewers highlight competitive rates for those with excellent credit.
Comparatively, significant complaints also appear: borrowers report poor overall experiences despite good rates, with issues such as communication breakdowns, delays, and lack of follow-through from mortgage staff. Additional negative feedback includes unhelpful customer service when dealing with mortgage-related questions by phone. Overall, experiences are mixed, with strong local service but notable process frustrations.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.