Forcht Bank Mortgage Rates, Fees & Info

Lexington, KY

LEI: 549300RGUEWNDH44ES51

Tax ID: 71-0886038

5 stars - Updated: 4/5/25 - out of 5 stars, based on 17 reviews

Latest/2024 | 2023 Data | 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

    Forcht Bank is a smaller bank specializing in Home Purchase loans. Forcht Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Cincinnati, Louisville, Campbellsville, London, and Lexington among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

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

    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 6.97% 4/5/25
    30 Year Conventional Refi 6.89% 4/5/25
    30 Year Cash-out Refi 7.06% 4/5/25
    30 Year FHA Purchase 7.29% 4/5/25
    30 Year FHA Refi 6.72% 4/5/25
    30 Year VA Purchase 6.72% 4/5/25
    30 Year VA Refi 6.48% 4/5/25
    30 Year USDA Purchase 7.03% 4/5/25
    15 Year Conventional Purchase 6.69% 4/5/25
    15 Year Conventional Refi 6.83% 4/5/25
    15 Year Cash-out Refi 6.83% 4/5/25
    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.

    Forcht Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Forcht 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

    297

    Origination Dollar Volume (All Markets)

    $112,235,000

    Awards

    Forcht Bank 30 Year Conventional Loans silver Forcht Bank 30 Year Conventional Loans silver Forcht Bank 30 Year Conventional Loans bronze Forcht Bank FHA Loans gold
    Show all (4) awards

    Relative Rate

    Forcht Bank's average 30 year fixed mortgage rate was 6.72%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.17%.

    Relative Fees (Closing Costs)

    Forcht Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,926.

    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 $8,356.

    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) 112 $66,680,000 $595,357 $4,613 7.03%
    LOUISVILLE, KY (FHA|USDA|VA) 46 $15,820,000 $343,913 $3,619 6.89%
    Campbellsville, KY (FHA|USDA|VA) 43 $6,325,000 $147,093 $2,896 7.10%
    London, KY (FHA|USDA|VA) 29 $5,005,000 $172,586 $3,265 6.96%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 12 $4,960,000 $413,333 $3,940 6.67%
    Somerset, KY (FHA|USDA|VA) 21 $4,175,000 $198,810 $3,964 6.88%
    Richmond-Berea, KY (FHA|USDA|VA) 6 $2,580,000 $430,000 $3,287 6.52%
    Outside of Metro Areas 15 $1,925,000 $128,333 $2,341 7.09%
    BOWLING GREEN, KY (FHA|USDA|VA) 5 $1,865,000 $373,000 $0 7.15%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $505,000 $505,000 $18,841 7.63%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $475,000 $475,000 $6,551 7.25%
    MORRISTOWN, TN (FHA|USDA|VA) 1 $475,000 $475,000 $3,878 6.25%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $465,000 $465,000 $6,061 6.75%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $415,000 $415,000 $0 7.00%
    Mount Sterling, KY (FHA|USDA|VA) 1 $275,000 $275,000 $5,680 6.50%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $225,000 $225,000 $5,282 6.88%
    Frankfort, KY (FHA|USDA|VA) 1 $65,000 $65,000 $0 7.25%
    Forcht Bank's top markets include Cincinnati, Louisville, Campbellsville, London, and Lexington among others.

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

    • Similar Lenders

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

    TRANSCEND
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 269 $107,015,000 $397,825 $3,619 7.03%
    FHA 22 $3,890,000 $176,818 $5,787 6.53%
    USDA 5 $1,075,000 $215,000 $5,184 6.50%
    VA 1 $255,000 $255,000 $5,028 5.63%

    For 2024, Forcht Bank's most frequently originated type of loan was Conventional, with 269 originations. Their 2nd most popular type was FHA, with 22 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 223 $96,925,000 $434,641 $4,470 6.96%
    Refi 42 $9,180,000 $218,571 $2,518 6.96%
    Home Improvement 15 $4,455,000 $297,000 $1,707 7.19%
    Other 11 $1,095,000 $99,545 $2,016 7.10%
    Cash Out Refi 6 $580,000 $96,667 $2,481 7.19%

    For 2024, Forcht Bank's most frequently cited loan purpose was Home Purchase, with 223 originations. The 2nd most popular reason was Refi, with 42 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 139 $45,245,000 $325,504 $3,926 6.72%
    20 Year 51 $18,025,000 $353,431 $2,288 7.35%
    Other 40 $15,790,000 $394,750 $3,787 7.28%
    30+ year 32 $20,650,000 $645,313 $6,228 6.85%
    15 Year 24 $2,190,000 $91,250 $1,901 7.14%
    10 Year 10 $580,000 $58,000 $1,668 7.52%
    5 Year 1 $9,755,000 $9,755,000 $0 6.75%

    For 2024, Forcht Bank's most frequently cited loan duration was 30 Year, with 139 originations. The 2nd most popular length was 20 Year, with 51 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 161 $38,775,000 $240,839
    $1k-2k 47 $25,525,000 $543,085
    $2k-3k 3 $925,000 $308,333
    $3k-4k 2 $360,000 $180,000
    $4k-5k 1 $235,000 $235,000
    $5k+ 1 $505,000 $505,000

    Forcht Bank's average total fees were $3,926, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 161 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 155 $71,365,000 $460,419
    7-8% 134 $39,440,000 $294,328
    5-6% 7 $1,125,000 $160,714
    Over 8% 1 $305,000 $305,000

    During 2024, Forcht Bank's average interest rate for loans was 6.72%, while their most frequently originated rate bucket for loans was 6-7%, with 155 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 91 $24,755,000 $272,033 $4,020 6.93%
    $100k-200k 81 $11,875,000 $146,605 $3,312 6.98%
    $100,000 or less 59 $3,825,000 $64,831 $2,011 7.26%
    $400k-600k 33 $16,045,000 $486,212 $5,549 6.88%
    $1MM+ 17 $43,625,000 $2,566,176 $9,504 6.83%
    $600k-1MM 16 $12,110,000 $756,875 $5,704 6.59%

    2024 saw Forcht Bank place emphasis on $200k-400k loans with 91 originations, totaling $24,755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 48 $12,390,000 $258,125 $3,682 6.89%
    $75k-100k 45 $7,955,000 $176,778 $3,700 6.92%
    $150k-250k 37 $13,135,000 $355,000 $4,201 6.89%
    $50k-75k 33 $4,845,000 $146,818 $3,556 6.92%
    $50k or less 33 $3,065,000 $92,879 $2,394 7.03%
    $250k+ 32 $25,450,000 $795,313 $6,221 6.83%

    Forcht Bank lent most frequently to those with incomes in the $100k-150k range, with 48 originations. The second most popular income band? $75k-100k, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 45 $13,095,000 $291,000 $3,737 6.86%
    30-36% 38 $8,410,000 $221,316 $3,606 6.96%
    36% 18 $6,040,000 $335,556 $3,919 6.94%
    <20% 17 $5,155,000 $303,235 $3,349 6.72%
    38% 12 $3,210,000 $267,500 $3,869 6.86%
    42% 11 $5,555,000 $505,000 $4,311 6.82%
    37% 10 $2,340,000 $234,000 $3,093 6.79%
    40% 10 $2,630,000 $263,000 $3,324 6.93%
    50-60% 9 $3,965,000 $440,556 $4,554 6.78%
    43% 8 $1,710,000 $213,750 $3,235 6.81%
    41% 6 $1,670,000 $278,333 $6,484 7.15%
    44% 6 $2,000,000 $333,333 $4,647 6.46%
    39% 6 $4,150,000 $691,667 $4,731 6.96%
    >60% 5 $1,785,000 $357,000 $4,830 6.53%
    46% 4 $1,320,000 $330,000 $4,839 6.81%
    45% 4 $1,350,000 $337,500 $4,230 6.50%
    47% 2 $670,000 $335,000 $4,339 7.50%
    48% 2 $800,000 $400,000 $4,498 6.69%

    Forcht Bank lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 220 $62,170,000 $282,591 $3,817 6.91%
    Not applicable 62 $42,460,000 $684,839 $0 7.29%
    Not provided 9 $5,935,000 $659,444 $5,021 6.72%
    Asian 2 $810,000 $405,000 $4,403 6.38%
    American Indian 1 $405,000 $405,000 $3,922 6.75%
    Black 2 $260,000 $130,000 $6,088 7.06%
    Asian Indian 1 $195,000 $195,000 $0 7.99%

    Approval Rates

    Total approvals of all applications
    81.16%

    Forcht Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    64.98%

    Forcht Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 297 $112,235,000 $377,896

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    297 $112,235,000 $377,896

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $4,565,000 $147,258 $2,659 7.08%
    40-60% 40 $11,380,000 $284,500 $3,292 6.82%
    60-80% 103 $52,885,000 $513,447 $4,126 7.09%
    80-100% 103 $40,935,000 $397,427 $4,938 6.87%
    Under 20% 20 $2,470,000 $123,500 $1,716 7.17%