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Mortgages — In-Bank

NEW - Professional Mortgage Program (PMP)

You know what it takes to be a professional. Years of training have gotten you to this point, and now you're ready to buy a home. The PMP*, found exclusively at Centennial BANK, was intentionally created to meet the housing needs of today's licensed professionals. Because our local lending experts take an innovative approach to situations unique to many professionals, we can offer the same competitive low rates found on the secondary market with a much lower down payment. Not only that, but we keep your mortgage right here at Centennial BANK so you can deal with our experts that are real professionals, too.

  • Easy application process
  • Quick decisions made by local lenders
  • Low rates competitive with those on the secondary market
  • Much lower down payment than most conventional portfolio mortgages
  • Student loans considered in the underwriting process

Who Can Qualify?

Doctors – Licensed practicing physicians, PAs and CRNAs as well as licensed doctors of optometry, pharmacy, chiropractic, dentistry and many others.

Lawyers & CPAs – Licensed practicing attorneys and CPAs employed in industry, public or education sectors.

Professors – Full-time contract faculty with a Master's Degree or higher at a fully-accredited state or private 4-year university within Centennial BANK's territory.

*limited to licensed practicing physicians in all generalities or specialties (resident, hospitalist, private practice), including Physician Assistant (PA) and Nurse Anesthetists (CRNA); licensed practicing Doctors of Optometry (DO), Doctors of Pharmacy (PharmD), Doctors of Chiropractic (DC), General Dentists (DDS, DDM), and all dental specialists such as Periodontists, Orthodontists, Endodontists; Licensed Practicing Veterinarians; Licensed Practicing Attorneys; Licensed Practicing CPAs (professional CPAs can be employed in industry, public or education sectors); Full Time Contract Faculty at a fully-accredited state and private 4-year college institutions (Carnegie Classification of Level 4 and above) within the Bank's trade territory, faculty member must hold minimum Master's Degree in chosen field/area of study, allowable institutions within the trade territory are defined as 1) all institutions within the Texas Tech University System (Texas Tech University, Texas Tech University Health Sciences Center, Texas Tech University School of Law, Angelo State University [HSI]), 2) Wayland Baptist University, 3) Lubbock Christian University, 4) Schreiner University.

"Open Door" Mortgages

Why pay rent when you can own your home for the same or often lower monthly payments? Getting your foot in the door of your very own home is easier--and cheaper--than you think! Our Open Door program offers lower down payments than most conventional loans and adds any fees associated with purchasing your home to your monthly payments.

  • Up to $150,000 available to qualified borrowers
  • Lower down payments than most conventional home loans.
  • Normal cash flow margins.
  • Your taxes and insurance payments are added to your monthly house payment with an escrow account.
  • Flexibility in making credit decisions. We consider other items like rent and utility payments.

Fast Track Mortgages

Build equity in your home and get it paid off lightning fast! With a shorter-term, straight payment mortgage from our Fast Track program, qualifying homes can be paid off faster than most conventional mortgages with competitive rates and fees.

  • Up to $1 million available to qualified borrowers
  • Low fees and competitive rates
  • Competitive repayment terms available

Portfolio Mortgages

Our customers like to know their lender and know who to call if they have any questions about their mortgage. With an in-house fixed rate mortgage, your hometown lender will be there every step of the way.

  • Low down payment
  • Normal cash flow margins
  • Normal filing and closing fees paid by borrower
  • Flexibility in making credit decisions. We consider other items like rent and utility payments.

Lot Loans

Whether you're getting ready to break ground on a new home our building the equity you need to start construction, we offer low down payments and no loan fees for qualifying residential lots.*

  • Competitive interest rates and down payments
  • Interest payments only for up to 1 year
  • Amortizing payment programs up to 15 years
  • No loan fees

*Eligible lot purchase must be platted residential lots less than 25 acres in size.

Interim Construction Loans

Working closely with your builder, we take the stress out of the construction process by advancing funds as the project progresses. You simply make interest payments on the funds advanced.

Balloon Mortgages

The perfect option for someone looking to sell or refinance in the future, a balloon mortgage does not fully amortize over the term of the loan, leaving a larger one-time payment (a "balloon" payment) due at maturity. These mortgages feature competitive interest rates and all the benefits associated with our in-house mortgages.

Mortgages — Secondary Market

Conventional Fixed Rate Mortgages

Featuring a fixed interest rate over the life of the loan, we offer competitive terms, rates and reduced fees for conforming loans up to $417,000.

FHA Home Loans

These loans have been insured by the Federal Housing Administration (FHS) and offer first time homebuyers significant advantages when purchasing a home like low down payments, flexible options for your down payment and easier qualification requirements.


Refinancing can be used to your advantage financially to lower your monthly payment and reduce your mortgage rate. Our experts can help you find the most effective way to refinance your home based on your financial needs.

Jumbo Loans

A mortgage product ideal for the higher-priced homes on the market. You'll enjoy competitive rates and flexible terms.

Home Equity Loans — Unlock your home's hidden potential today! Home equity loans are ideal for using the equity in your home for debt consolidation or other expenses.

Mortgages Loan Toolkit

The Mortgage Toolkit is a step-by-step guide through the mortgage loan process that provides:

  • "Interactive" forms to help applicants determine an affordable payment amount
  • Potential questions to ask throughout the loan process
  • Information on different types of loans and "risky" features
  • Tips for avoiding pitfalls and handling problems
  • Information on closing costs and understanding the Loan Estimate and Closing Disclosures
  • Information on keeping up with property costs, flood insurance, and using a home as collateral for subsequent credit

Download Toolkit