Victory Community Bank Mortgage Rates, Fees & Info

Fort Mitchell, KY

LEI: 5493004QWS0OT86WNI22

Tax ID: 38-3659161

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Victory Community Bank is a smaller bank specializing in Home Purchase loans. Victory Community Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Cincinnati, Louisville, Columbus, Indianapolis, and Atlanta among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Victory Community Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Victory Community Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    1,191

    Origination Dollar Volume (All Markets)

    $280,795,000
    Show all (17) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 894 $203,710,000 $227,864 $1,845 3.97%
    LOUISVILLE, KY (FHA|USDA|VA) 134 $32,640,000 $243,582 $2,641 4.08%
    COLUMBUS, OH (FHA|USDA|VA) 74 $20,300,000 $274,324 $2,036 4.01%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 54 $15,870,000 $293,889 $2,327 3.61%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 17 $4,925,000 $289,706 $2,884 4.49%
    Jefferson, GA (FHA|USDA|VA) 2 $710,000 $355,000 $255 4.81%
    FORT WAYNE, IN (FHA|USDA|VA) 2 $520,000 $260,000 $2,369 4.13%
    Wooster, OH (FHA|USDA|VA) 1 $285,000 $285,000 $8,071 4.38%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $265,000 $265,000 $1,676 4.99%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $255,000 $255,000 $4,063 3.38%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $235,000 $235,000 $10,433 3.88%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $195,000 $195,000 $2,543 3.38%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $165,000 $165,000 $1,555 3.88%
    BOWLING GREEN, KY (FHA|USDA|VA) 1 $145,000 $145,000 $1,724 4.63%
    Outside of Metro Areas 1 $135,000 $135,000 $1,900 4.13%
    Somerset, KY (FHA|USDA|VA) 1 $115,000 $115,000 $1,967 4.25%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $115,000 $115,000 $4,498 3.88%
    SPRINGFIELD, OH (FHA|USDA|VA) 1 $75,000 $75,000 $2,896 3.63%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 2 $70,000 $35,000 $740 6.25%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 1 $65,000 $65,000 $1,826 5.50%
    Victory Community Bank's top markets include Cincinnati, Louisville, Columbus, Indianapolis, and Atlanta among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Victory Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    The North Side Bank & Trust Company
    Similarity Rank: 55
    CINFED Federal Credit Union
    Similarity Rank: 162
    Advanz Federal Credit Union
    Similarity Rank: 360
    Columbus Metro Federal Credit Union
    Similarity Rank: 392
    The Peoples Bank
    Similarity Rank: 400
    COMMONWEALTH
    Similarity Rank: 408
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 434
    Hendricks County Bank and Trust Company
    Similarity Rank: 456
    RIVER VALLEY CREDIT UNION, INC.
    Similarity Rank: 504
    HOPEWELL Federal Credit Union
    Similarity Rank: 510

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 941 $221,455,000 $235,340 $1,335 4.01%
    FHA 143 $31,165,000 $217,937 $4,528 4.00%
    VA 85 $23,555,000 $277,118 $5,111 3.72%
    USDA 22 $4,620,000 $210,000 $3,137 3.90%

    For 2019, Victory Community Bank's most frequently originated type of loan was Conventional, with 941 originations. Their 2nd most popular type was FHA, with 143 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 971 $230,255,000 $237,132 $2,057 3.99%
    Refi 153 $37,805,000 $247,092 $1,725 3.72%
    Cash Out Refi 64 $12,210,000 $190,781 $1,801 4.41%
    Home Improvement 2 $520,000 $260,000 $1,693 3.31%
    Other 1 $5,000 $5,000 $510 8.00%

    For 2019, Victory Community Bank's most frequently cited loan purpose was Home Purchase, with 971 originations. The 2nd most popular reason was Refi, with 153 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,023 $250,835,000 $245,196 $2,123 3.98%
    15 Year 118 $19,740,000 $167,288 $1,178 3.92%
    20 Year 19 $4,315,000 $227,105 $1,544 4.00%
    10 Year 18 $2,000,000 $111,111 $706 3.94%
    Other 10 $2,980,000 $298,000 $2,039 4.28%
    1 Year 1 $615,000 $615,000 $2,790 4.50%
    30+ year 1 $305,000 $305,000 $0 6.50%
    5 Year 1 $5,000 $5,000 $510 8.00%

    For 2019, Victory Community Bank's most frequently cited loan duration was 30 Year, with 1,023 originations. The 2nd most popular length was 15 Year, with 118 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,159 $270,295,000 $233,214
    $1k-2k 15 $4,985,000 $332,333
    $2k-3k 6 $1,500,000 $250,000
    $3k-4k 6 $2,310,000 $385,000
    $5k+ 3 $1,035,000 $345,000
    $4k-5k 2 $670,000 $335,000

    Victory Community Bank's average total fees were $2,123, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,159 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 736 $177,580,000 $241,277
    4-5% 370 $87,690,000 $237,000
    5-6% 54 $9,460,000 $175,185
    2.5-3% 25 $5,575,000 $223,000
    6-7% 3 $425,000 $141,667
    7-8% 3 $65,000 $21,667

    During 2019, Victory Community Bank's average interest rate for loans was 3.98%, while their most frequently originated rate bucket for loans was 3-4%, with 736 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 628 $172,560,000 $274,777 $2,427 3.94%
    $100k-200k 395 $61,715,000 $156,241 $1,528 3.96%
    $100,000 or less 83 $5,415,000 $65,241 $934 4.50%
    $400k-600k 73 $33,445,000 $458,151 $2,029 3.87%
    $600k-1MM 12 $7,660,000 $638,333 $3,221 4.14%

    2019 saw Victory Community Bank place emphasis on $200k-400k loans with 628 originations, totaling $172,560,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 342 $88,300,000 $258,187 $1,951 3.95%
    $50k-75k 256 $48,850,000 $190,820 $2,096 3.96%
    $75k-100k 243 $53,115,000 $218,580 $2,101 4.02%
    $150k-250k 182 $56,570,000 $310,824 $2,178 3.99%
    $50k or less 119 $16,595,000 $139,454 $1,514 4.09%
    $250k+ 47 $17,185,000 $365,638 $1,793 3.85%

    Victory Community Bank lent most frequently to those with incomes in the $100k-150k range, with 342 originations. The second most popular income band? $50k-75k, with 256 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 303 $72,505,000 $239,290 $1,682 3.86%
    30-36% 222 $53,420,000 $240,631 $1,779 4.07%
    <20% 99 $20,295,000 $205,000 $1,411 3.81%
    37% 51 $12,025,000 $235,784 $1,743 3.89%
    42% 48 $10,870,000 $226,458 $2,392 3.79%
    38% 47 $11,725,000 $249,468 $1,422 4.09%
    50-60% 43 $9,025,000 $209,884 $4,027 4.01%
    39% 41 $9,465,000 $230,854 $1,926 3.99%
    41% 41 $8,765,000 $213,780 $2,541 4.03%
    40% 39 $10,475,000 $268,590 $2,434 4.05%
    48% 35 $7,755,000 $221,571 $2,487 4.16%
    43% 34 $8,390,000 $246,765 $2,238 4.14%
    44% 34 $7,950,000 $233,824 $2,100 4.17%
    36% 33 $8,375,000 $253,788 $2,540 3.97%
    46% 31 $7,775,000 $250,806 $2,721 3.93%
    49% 31 $7,695,000 $248,226 $2,123 4.04%
    45% 24 $6,180,000 $257,500 $2,481 4.01%
    47% 18 $3,810,000 $211,667 $2,852 3.92%
    >60% 15 $4,115,000 $274,333 $1,800 5.38%

    Victory Community Bank lent most frequently to those with DTI ratios of 20-30%, with 303 originations. The next most common DTI ratio? 30-36%, with 222 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 980 $225,630,000 $230,235 $1,898 3.99%
    Not provided 108 $27,150,000 $251,389 $2,730 3.87%
    Black 53 $14,515,000 $273,868 $2,947 4.09%
    Asian 42 $11,780,000 $280,476 $1,596 3.86%
    American Indian 4 $800,000 $200,000 $603 3.94%
    Asian Indian 2 $740,000 $370,000 $1,174 4.00%
    Not applicable 2 $180,000 $90,000 $1,780 5.38%

    Approval Rates

    Total approvals of all applications
    98.94%

    Victory Community Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    90.51%

    Victory Community Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    952.48 1 $35,000 $35,000
    NA 1,190 $280,760,000 $235,933

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 1,191 $280,795,000 $235,764

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $3,510,000 $97,500 $831 3.99%
    40-60% 92 $15,450,000 $167,935 $1,215 3.85%
    60-80% 354 $82,210,000 $232,232 $1,343 3.96%
    80-100% 664 $170,500,000 $256,777 $2,400 3.97%
    Over 100% 24 $8,290,000 $345,417 $7,809 4.14%
    Under 20% 21 $835,000 $39,762 $441 5.25%