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Homeownership Hub

Centennial Mortgage is committed to assisting our communities by providing essential homebuyer education and financial literacy resources. Let our Homeownership Hub help prepare you for the homebuying process.

Mortgage Terminology


Credit Score

Debt-to-Income Ratio

Interest Rate

Loan Estimate

Loan-to-Value (LTV)



Loan Application Documents Needed

Here is a list of documents to gather to include with your application.

  • Residence history for the last two years
  • Employment history for the last two years
  • Income information for the last two years
  • Year to date pay stub
  • W2's for the last two years
  • Tax returns for the last two years
  • Deposit, Retirement and Equities account information
  • Real Estate information

Learn More

Mortgage Loan Types


A conventional loan is any mortgage loan that is not insured or guaranteed by the government (such as under Federal Housing Administration, Department of Veterans Affairs, or Department of Agriculture loan programs).

Types of Interest Rates

Fixed Rate Mortgage

The traditional fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.

Additional Costs

Closing Costs

Down Payment

Home Inspection

Homeowner's Insurance

Origination Fee

Property Taxes

GreenPath Financial Wellness1

GreenPath is a trusted national nonprofit with more than 60-years of helping people build financial health and resiliency. GreenPaths NFCC-certified counselors give you options to manage credit card debt, student loans and homeownership. Centennial Bank and GreenPath have partnered to provide customers with free financial education and counseling services. Click below to visit our Partner Portal.

Learn More


1Information is educational in nature and is not a solicitation of business from Centennial Bank.

All loans subject to credit and property approval.

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