Whitaker Bank Mortgage Rates, Fees & Info

Lexington, KY

LEI: 549300C3C8C6TSYT1R20

Tax ID: 61-1179902

5 stars - Updated: 12/16/24 - out of 5 stars, based on 28 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Whitaker Bank is a smaller bank specializing in Refi and Home Purchase loans. Whitaker Bank has a high proportion of conventional loans. Whitaker Bank has an average proportion of conventional loans. Their top markets by origination volume include: Richmond, Lexington, Danville, Mount Sterling, and Frankfort among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Whitaker Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Whitaker 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 relatively high 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.40% 12/16/24
    30 Year Conventional Refi 6.45% 12/16/24
    30 Year FHA Refi 6.27% 12/16/24
    15 Year Conventional Purchase 5.68% 12/16/24
    15 Year Conventional Refi 5.79% 12/16/24
    15 Year Cash-out Refi 5.79% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Whitaker Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Whitaker Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    772

    Origination Dollar Volume (All Markets)

    $134,940,000
    Show all (12) awards

    Relative Rate

    Whitaker Bank's average 30 year fixed mortgage rate was 5.93%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.55%.

    Relative Fees (Closing Costs)

    Whitaker Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,570.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    Richmond-Berea, KY (FHA|USDA|VA) 188 $40,080,000 $213,191 $2,216 6.34%
    Outside of Metro Areas 300 $38,330,000 $127,767 $2,028 6.17%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 128 $35,480,000 $277,188 $2,581 6.16%
    Danville, KY (FHA|USDA|VA) 49 $7,325,000 $149,490 $2,336 5.99%
    Mount Sterling, KY (FHA|USDA|VA) 43 $3,785,000 $88,023 $1,728 6.51%
    Frankfort, KY (FHA|USDA|VA) 27 $3,345,000 $123,889 $1,824 6.16%
    LOUISVILLE, KY (FHA|USDA|VA) 6 $2,170,000 $361,667 $4,092 6.15%
    London, KY (FHA|USDA|VA) 18 $2,040,000 $113,333 $1,925 6.30%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $755,000 $755,000 $0 0.00%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $365,000 $365,000 $4,094 5.63%
    OWENSBORO, KY (FHA|USDA|VA) 3 $265,000 $88,333 $1,282 5.88%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $255,000 $255,000 $3,704 6.13%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 2 $230,000 $115,000 $2,706 5.75%
    Somerset, KY (FHA|USDA|VA) 2 $210,000 $105,000 $1,586 6.88%
    Bardstown, KY (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $85,000 $85,000 $1,663 5.63%
    Maysville, KY (FHA|USDA|VA) 1 $25,000 $25,000 $1,647 5.50%
    Whitaker Bank's top markets include Richmond, Lexington, Danville, Mount Sterling, and Frankfort among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

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

    Abound Federal Credit Union
    Similarity Rank: 84
    City National Bank of West Virginia
    Similarity Rank: 220
    Independence Bank of Kentucky
    Similarity Rank: 224
    Whitaker Bank
    Similarity Rank: 306
    Peoples Exchange Bank
    Similarity Rank: 333
    Traditional Bank, Inc.
    Similarity Rank: 350
    Forcht Bank
    Similarity Rank: 418
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 425
    COMMONWEALTH
    Similarity Rank: 529
    Community Trust Bank, Inc.
    Similarity Rank: 702

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 529 $109,975,000 $207,892 $2,175 6.21%
    Conventional 243 $24,965,000 $102,737 $0 0.00%

    For 2023, Whitaker Bank's most frequently originated type of loan was Conventional, with 529 originations. Their 2nd most popular type was Conventional, with 243 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 285 $41,785,000 $146,614 $1,930 6.20%
    Home Purchase 262 $76,280,000 $291,145 $2,521 6.21%
    Home Improvement 142 $8,670,000 $61,056 $1,502 6.18%
    Other 83 $8,205,000 $98,855 $1,761 6.40%

    For 2023, Whitaker Bank's most frequently cited loan purpose was Refi, with 285 originations. The 2nd most popular reason was Home Purchase, with 262 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 272 $30,820,000 $113,309 $1,597 6.77%
    30 Year 200 $47,650,000 $238,250 $2,570 5.93%
    10 Year 160 $29,340,000 $183,375 $1,669 6.50%
    20 Year 53 $6,865,000 $129,528 $1,985 5.87%
    15 Year 48 $4,480,000 $93,333 $1,748 5.81%
    5 Year 21 $10,845,000 $516,429 $1,508 6.22%
    1 Year 14 $2,670,000 $190,714 $3,020 8.01%
    3 Year 4 $2,270,000 $567,500 $762 7.81%

    For 2023, Whitaker Bank's most frequently cited loan duration was Other, with 272 originations. The 2nd most popular length was 30 Year, with 200 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 272 $24,390,000 $89,669
    $1k-2k 82 $22,180,000 $270,488
    $2k-3k 25 $12,295,000 $491,800
    $3k-4k 3 $2,055,000 $685,000
    $4k-5k 1 $945,000 $945,000
    $5k+ 1 $765,000 $765,000

    Whitaker Bank's average total fees were $2,570, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 272 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 276 $49,230,000 $178,370
    6-7% 172 $46,920,000 $272,791
    7-8% 55 $8,595,000 $156,273
    Over 8% 18 $1,560,000 $86,667
    4-5% 8 $3,670,000 $458,750

    During 2023, Whitaker Bank's average interest rate for loans was 5.93%, while their most frequently originated rate bucket for loans was 5-6%, with 276 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 397 $20,315,000 $51,171 $1,595 6.23%
    $100k-200k 179 $25,155,000 $140,531 $1,987 6.23%
    $200k-400k 136 $36,280,000 $266,765 $2,750 6.16%
    $400k-600k 36 $16,620,000 $461,667 $3,971 6.24%
    $600k-1MM 18 $14,030,000 $779,444 $4,981 6.17%
    $1MM+ 6 $22,540,000 $3,756,667 $0 6.05%

    2023 saw Whitaker Bank place emphasis on $100,000 or less loans with 397 originations, totaling $20,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 149 $24,055,000 $161,443 $2,441 6.01%
    $50k-75k 145 $13,105,000 $90,379 $1,854 6.23%
    $50k or less 142 $8,490,000 $59,789 $1,643 6.09%
    $75k-100k 111 $12,815,000 $115,450 $2,033 5.98%
    $150k-250k 75 $16,425,000 $219,000 $3,006 6.11%
    $250k+ 62 $19,220,000 $310,000 $3,682 6.61%

    Whitaker Bank lent most frequently to those with incomes in the $100k-150k range, with 149 originations. The second most popular income band? $50k-75k, with 145 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 243 $24,965,000 $102,737 $0 0.00%
    20-30% 126 $19,810,000 $157,222 $2,151 5.99%
    30-36% 102 $17,200,000 $168,627 $2,218 5.95%
    <20% 77 $10,315,000 $133,961 $2,110 5.89%
    37% 15 $2,245,000 $149,667 $1,978 5.75%
    36% 15 $2,415,000 $161,000 $2,224 6.13%
    39% 12 $3,470,000 $289,167 $2,823 6.07%
    50-60% 10 $860,000 $86,000 $1,636 5.94%
    40% 10 $2,380,000 $238,000 $2,325 6.15%
    38% 9 $1,495,000 $166,111 $2,074 6.57%
    46% 5 $1,015,000 $203,000 $2,203 5.75%
    42% 4 $1,150,000 $287,500 $2,810 5.88%
    45% 4 $1,270,000 $317,500 $3,135 5.97%
    43% 3 $545,000 $181,667 $2,403 5.54%
    41% 3 $365,000 $121,667 $1,774 5.63%
    44% 1 $465,000 $465,000 $3,869 6.38%
    >60% 1 $65,000 $65,000 $1,662 5.38%
    48% 1 $125,000 $125,000 $1,900 5.63%

    Whitaker Bank lent most frequently to those with DTI ratios of Exempt%, with 243 originations. The next most common DTI ratio? 20-30%, with 126 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 662 $89,840,000 $135,710 $2,169 6.08%
    Not applicable 65 $37,275,000 $573,462 $0 6.78%
    Not provided 31 $6,565,000 $211,774 $2,604 7.13%
    Black 7 $565,000 $80,714 $1,645 5.96%
    Asian 3 $435,000 $145,000 $2,035 6.44%
    Other Pacific Islander 2 $140,000 $70,000 $0 7.00%
    Other Asian 2 $120,000 $60,000 $0 7.00%

    Approval Rates

    Total approvals of all applications
    94.00%

    Whitaker Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.60%

    Whitaker Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    250.0 1 $45,000 $45,000
    259.5 1 $25,000 $25,000
    Exempt 243 $24,965,000 $102,737
    NA 527 $109,905,000 $208,548

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    772 $134,940,000 $174,793

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 96 $7,690,000 $80,104 $1,742 6.20%
    40-60% 110 $28,420,000 $258,364 $2,184 6.06%
    60-80% 165 $47,335,000 $286,879 $2,541 6.22%
    80-100% 108 $24,350,000 $225,463 $2,383 6.31%
    Over 100% 1 $15,000 $15,000 $0 9.50%
    Under 20% 47 $1,965,000 $41,809 $1,476 6.19%