Whitaker Bank Mortgage Rates, Fees & Info
Lexington, KYLEI: 549300C3C8C6TSYT1R20
Tax ID: 61-1179902
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Mortgage Data
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 18 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 an above 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.40% | 11/22/24 |
| 30 Year Conventional Refi | 6.45% | 11/22/24 |
| 30 Year FHA Refi | 6.27% | 11/22/24 |
| 15 Year Conventional Purchase | 5.68% | 11/22/24 |
| 15 Year Conventional Refi | 5.79% | 11/22/24 |
| 15 Year Cash-out Refi | 5.79% | 11/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
808Origination Dollar Volume (All Markets)
$123,810,000Awards
Whitaker Bank - 2022
Whitaker Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 173 | $37,845,000 | $218,757 | $1,853 | 4.40% |
| Outside of Metro Areas | 353 | $37,375,000 | $105,878 | $1,662 | 4.35% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 114 | $25,810,000 | $226,404 | $2,642 | 4.54% |
| Danville, KY (FHA|USDA|VA) | 60 | $9,480,000 | $158,000 | $2,357 | 4.47% |
| Mount Sterling, KY (FHA|USDA|VA) | 54 | $5,320,000 | $98,519 | $1,776 | 4.46% |
| Frankfort, KY (FHA|USDA|VA) | 15 | $1,605,000 | $107,000 | $1,701 | 4.93% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $1,405,000 | $1,405,000 | $10,187 | 3.50% |
| London, KY (FHA|USDA|VA) | 20 | $1,360,000 | $68,000 | $1,512 | 4.40% |
| LOUISVILLE, KY (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $3,105 | 4.69% |
| Key West, FL (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $11,772 | 5.75% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 5 | $615,000 | $123,000 | $1,755 | 4.46% |
| Bardstown, KY (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $570 | 4.88% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 3.35% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,145 | 4.88% |
| MORRISTOWN, TN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,859 | 4.20% |
| Madisonville, KY (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,580 | 3.38% |
| OWENSBORO, KY (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,025 | 5.13% |
| Maysville, KY (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
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.
Similarity Rank: 68
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 565 | $102,275,000 | $181,018 | $1,912 | 4.41% |
| Conventional | 243 | $21,535,000 | $88,621 | $0 | 0.00% |
For 2022, Whitaker Bank's most frequently originated type of loan was Conventional, with 565 originations. Their 2nd most popular type was Conventional, with 243 originations.
Loan Reason
For 2022, Whitaker Bank's most frequently cited loan purpose was Refi, with 291 originations. The 2nd most popular reason was Home Purchase, with 279 originations.
Loan Duration/Length
For 2022, Whitaker Bank's most frequently cited loan duration was 10 Year, with 451 originations. The 2nd most popular length was Other, with 268 originations.
Origination Fees/Closing Costs
Whitaker Bank's average total fees were $2,645, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 314 originations.
Interest Rates
During 2022, Whitaker Bank's average interest rate for loans was 5.66%, while their most frequently originated rate bucket for loans was 3-4%, with 246 originations.
Loan Sizing
2022 saw Whitaker Bank place emphasis on $100,000 or less loans with 427 originations, totaling $22,145,000 in origination value.
Applicant Income
Whitaker Bank lent most frequently to those with incomes in the $50k or less range, with 182 originations. The second most popular income band? $50k-75k, with 162 originations.
Applicant Debt to Income Ratio
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
Approval Rates
Total approvals of all applications93.92%
Whitaker Bank has an average approval rate.
Pick Rate
Approvals leading to origination94.80%
Whitaker Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 150.0 | 1 | $15,000 | $15,000 |
| 269.5 | 4 | $120,000 | $30,000 |
| 319.5 | 1 | $15,000 | $15,000 |
| 537.59 | 1 | $25,000 | $25,000 |
| Exempt | 243 | $21,535,000 | $88,621 |
| NA | 558 | $102,100,000 | $182,975 |