Bank Forward Mortgage Rates, Fees & Info
Hannaford, NDLEI: 549300J9E3YDKIBPUY45
Tax ID: 45-0192700
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Bank Forward is a smaller bank specializing in Home Purchase loans. Bank Forward has a high proportion of conventional loans. Their top markets by origination volume include: Fargo, Bemidji, Grand Forks, Jamestown, and Brainerd among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Forward 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.
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.
Originations
156Origination Dollar Volume (All Markets)
$42,100,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 64 | $13,740,000 | $214,688 | $0 | 0.00% |
| FARGO, ND-MN (FHA|USDA|VA) | 12 | $8,960,000 | $746,667 | $0 | 0.00% |
| Bemidji, MN (FHA|USDA|VA) | 29 | $5,915,000 | $203,966 | $0 | 0.00% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 19 | $4,605,000 | $242,368 | $0 | 0.00% |
| Jamestown, ND (FHA|USDA|VA) | 14 | $3,490,000 | $249,286 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 10 | $2,760,000 | $276,000 | $0 | 0.00% |
| Jackson, WY-ID (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $0 | 0.00% |
| Grand Rapids, MN (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $0 | 0.00% |
| Wahpeton, ND-MN (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Bank Forward based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 76
Similarity Rank: 140
Similarity Rank: 144
Similarity Rank: 369
Similarity Rank: 845
Similarity Rank: 870
Similarity Rank: 884
Similarity Rank: 884
Similarity Rank: 4974
Similarity Rank: 5508
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 156 | $42,100,000 | $269,872 | $0 | 0.00% |
For 2024, Bank Forward's most frequently originated type of loan was Conventional, with 156 originations.
Loan Reason
For 2024, Bank Forward's most frequently cited loan purpose was Home Purchase, with 110 originations. The 2nd most popular reason was Refi, with 25 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 156 | $42,100,000 | $269,872 | $0 | 0.00% |
For 2024, Bank Forward's most frequently cited loan duration was Other, with 156 originations.
Loan Sizing
2024 saw Bank Forward place emphasis on $200k-400k loans with 52 originations, totaling $14,330,000 in origination value.
Applicant Income
Bank Forward lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $150k-250k, with 23 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 156 | $42,100,000 | $269,872 | $0 | 0.00% |
Bank Forward lent most frequently to those with DTI ratios of Exempt%, with 156 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.52%
Bank Forward has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination71.79%
Bank Forward has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 156 | $42,100,000 | $269,872 |