Forcht Bank Mortgage Rates, Fees & Info

Lexington, KY

LEI: 549300RGUEWNDH44ES51

Tax ID: 71-0886038

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Mortgage Data

Bank Data

Review & Overview

Forcht Bank is a smaller bank specializing in Home Purchase and Refi 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, Lexington, London, and Somerset among others. We have data for 18 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 6.06% 12/16/24
30 Year Conventional Refi 5.92% 12/16/24
30 Year Cash-out Refi 6.66% 12/16/24
30 Year FHA Purchase 7.00% 12/16/24
30 Year FHA Refi 6.27% 12/16/24
30 Year VA Purchase 6.23% 12/16/24
30 Year USDA Purchase 6.76% 12/16/24
15 Year Conventional Purchase 5.75% 12/16/24
15 Year Conventional Refi 5.72% 12/16/24
15 Year Cash-out Refi 5.72% 12/16/24
15 Year FHA Purchase 5.68% 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.

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

698

Origination Dollar Volume (All Markets)

$156,370,000

Employee count

291 Show all (7) 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) 241 $68,005,000 $282,178 $2,525 4.61%
LOUISVILLE, KY (FHA|USDA|VA) 111 $25,525,000 $229,955 $2,213 4.69%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 66 $21,820,000 $330,606 $2,721 4.40%
London, KY (FHA|USDA|VA) 94 $12,890,000 $137,128 $2,171 4.68%
Somerset, KY (FHA|USDA|VA) 58 $7,900,000 $136,207 $2,434 4.74%
Richmond-Berea, KY (FHA|USDA|VA) 25 $6,565,000 $262,600 $2,752 4.60%
Campbellsville, KY (FHA|USDA|VA) 55 $5,965,000 $108,455 $2,342 4.42%
Outside of Metro Areas 35 $4,845,000 $138,429 $2,768 4.60%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 3 $705,000 $235,000 $2,969 4.79%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $415,000 $415,000 $3,182 5.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $375,000 $375,000 $4,095 4.25%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $295,000 $295,000 $3,564 4.50%
Mount Sterling, KY (FHA|USDA|VA) 2 $290,000 $145,000 $3,237 4.06%
Los Alamos, NM (FHA|USDA|VA) 1 $225,000 $225,000 $5,738 4.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,275 4.00%
Danville, KY (FHA|USDA|VA) 1 $145,000 $145,000 $2,414 3.75%
Glasgow, KY (FHA|USDA|VA) 1 $115,000 $115,000 $2,705 4.99%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $95,000 $95,000 $3,439 4.75%
Forcht Bank's top markets include Cincinnati, Louisville, Lexington, London, and Somerset among others.

Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 642 $149,000,000 $232,087 $2,255 4.61%
    FHA 36 $4,210,000 $116,944 $4,137 4.63%
    USDA 12 $1,500,000 $125,000 $3,624 4.58%
    VA 8 $1,660,000 $207,500 $4,822 4.05%

    For 2018, Forcht Bank's most frequently originated type of loan was Conventional, with 642 originations. Their 2nd most popular type was FHA, with 36 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 429 $101,605,000 $236,841 $2,830 4.63%
    Refi 210 $45,640,000 $217,333 $1,971 4.54%
    Home Improvement 29 $4,525,000 $156,034 $1,892 4.86%
    Other 16 $1,920,000 $120,000 $1,784 4.60%
    Cash Out Refi 14 $2,680,000 $191,429 $1,830 4.42%

    For 2018, Forcht Bank's most frequently cited loan purpose was Home Purchase, with 429 originations. The 2nd most popular reason was Refi, with 210 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 304 $63,230,000 $207,993 $2,687 4.56%
    20 Year 145 $39,205,000 $270,379 $2,082 4.65%
    15 Year 118 $17,890,000 $151,610 $2,006 4.44%
    Other 48 $21,620,000 $450,417 $2,046 4.60%
    10 Year 39 $1,715,000 $43,974 $975 5.04%
    30+ year 34 $10,660,000 $313,529 $3,832 4.90%
    5 Year 6 $510,000 $85,000 $694 4.70%
    1 Year 3 $1,535,000 $511,667 $4,165 4.83%
    3 Year 1 $5,000 $5,000 $903 4.99%

    For 2018, Forcht Bank's most frequently cited loan duration was 30 Year, with 304 originations. The 2nd most popular length was 20 Year, with 145 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 467 $77,985,000 $166,991
    $1k-2k 52 $14,690,000 $282,500
    $2k-3k 4 $3,220,000 $805,000

    Forcht Bank's average total fees were $2,687, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 467 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 442 $104,730,000 $236,946
    3-4% 144 $35,210,000 $244,514
    5-6% 93 $15,485,000 $166,505
    6-7% 12 $670,000 $55,833
    7-8% 3 $145,000 $48,333
    Over 8% 2 $110,000 $55,000
    <2.5% 1 $5,000 $5,000

    During 2018, Forcht Bank's average interest rate for loans was 4.56%, while their most frequently originated rate bucket for loans was 4-5%, with 442 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 246 $34,760,000 $141,301 $2,537 4.55%
    $100,000 or less 212 $11,890,000 $56,085 $1,683 4.77%
    $200k-400k 156 $42,260,000 $270,897 $2,902 4.54%
    $400k-600k 44 $21,150,000 $480,682 $3,308 4.41%
    $600k-1MM 24 $18,790,000 $782,917 $4,243 4.67%
    $1MM+ 16 $27,520,000 $1,720,000 $5,983 4.37%

    2018 saw Forcht Bank place emphasis on $100k-200k loans with 246 originations, totaling $34,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 133 $16,335,000 $122,820 $2,310 4.72%
    $50k or less 126 $10,410,000 $82,619 $2,028 4.74%
    $100k-150k 97 $20,535,000 $211,701 $2,812 4.53%
    $75k-100k 80 $12,240,000 $153,000 $2,677 4.58%
    $150k-250k 72 $21,170,000 $294,028 $2,717 4.51%
    $250k+ 46 $19,830,000 $431,087 $2,928 4.31%

    Forcht Bank lent most frequently to those with incomes in the $50k-75k range, with 133 originations. The second most popular income band? $50k or less, with 126 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 136 $22,480,000 $165,294 $2,363 4.52%
    30-36% 130 $21,350,000 $164,231 $2,494 4.72%
    <20% 62 $14,790,000 $238,548 $2,510 4.44%
    38% 22 $3,570,000 $162,273 $2,242 4.90%
    37% 21 $3,425,000 $163,095 $2,080 4.78%
    42% 20 $4,340,000 $217,000 $2,753 4.62%
    36% 17 $2,125,000 $125,000 $2,156 4.70%
    40% 17 $2,435,000 $143,235 $2,530 4.62%
    50-60% 15 $3,725,000 $248,333 $2,520 4.36%
    43% 14 $2,130,000 $152,143 $2,237 4.67%
    39% 12 $1,960,000 $163,333 $2,611 4.26%
    41% 10 $1,690,000 $169,000 $2,793 4.45%
    >60% 8 $2,320,000 $290,000 $3,110 5.34%
    44% 8 $1,420,000 $177,500 $2,396 4.59%
    46% 6 $750,000 $125,000 $2,303 4.90%
    45% 5 $545,000 $109,000 $1,900 4.59%
    47% 4 $620,000 $155,000 $4,271 5.03%
    48% 4 $1,010,000 $252,500 $3,338 4.56%
    49% 4 $1,280,000 $320,000 $3,776 4.66%

    Forcht Bank lent most frequently to those with DTI ratios of 20-30%, with 136 originations. The next most common DTI ratio? 30-36%, with 130 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 550 $99,300,000 $180,545 $2,450 4.61%
    Not applicable 119 $51,335,000 $431,387 $2,272 4.68%
    Not provided 13 $3,115,000 $239,615 $2,504 4.32%
    Asian 6 $1,320,000 $220,000 $3,103 3.83%
    Black 9 $1,165,000 $129,444 $1,830 4.69%
    Asian Indian 1 $135,000 $135,000 $4,488 4.00%

    Approval Rates

    Total approvals of all applications
    81.19%

    Forcht Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    67.05%

    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 698 $156,370,000 $224,026

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 58 $43,880,000 $756,552
    Single Family (1-4 Units):Manufactured 25 $1,945,000 $77,800
    Single Family (1-4 Units):Site-Built 615 $110,545,000 $179,748

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 55 $6,075,000 $110,455 $1,987 4.47%
    40-60% 102 $16,780,000 $164,510 $2,093 4.65%
    60-80% 246 $73,560,000 $299,024 $2,553 4.57%
    80-100% 254 $57,490,000 $226,339 $2,883 4.61%
    Over 100% 2 $320,000 $160,000 $6,101 4.19%
    Under 20% 38 $2,000,000 $52,632 $843 4.96%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 3 21.4%
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Problem with a credit reporting company's investigation into an existing problem 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 5 35.7%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Incorrect information on your report 1 7.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Forcht Bank, National Association 100 First Financial Plaza London, KY 40741 Full Service B&M $50,658
    Forcht Bank, National Association 102-108 N Public Square Greensburg, KY 42743 Full Service B&M $42,913
    Forcht Bank, National Association 10505 Taylorsville Road Louisville, KY 40209 Full Service B&M $10,712
    Forcht Bank, National Association 10706 West Manslick Road Fairdale, KY 40118 Full Service B&M $18,192
    Forcht Bank, National Association 117 S Main St Greensburg, KY 42743 Full Service B&M $15,090
    Forcht Bank, National Association 1331 U.S. Highway 25 West Williamsburg, KY 40769 Full Service B&M $44,665
    Forcht Bank, National Association 140 Southland Drive Lexington, KY 40503 Full Service B&M $14,467
    Forcht Bank, National Association 1405 East Broadway Campbellsville, KY 42718 Full Service B&M $29,308
    Forcht Bank, National Association 1600 Cumberland Falls Hwy Corbin, KY 40701 Full Service B&M $13,889
    Forcht Bank, National Association 1846 South Highway 27 Somerset, KY 42501 Full Service B&M $93,640
    Forcht Bank, National Association 203-205 South Main Street Williamstown, KY 41097 Full Service B&M $86,279
    Forcht Bank, National Association 2140 Lantern Ridge Dr Richmond, KY 40475 Full Service B&M $9,788
    Forcht Bank, National Association 2404 Sir Barton Way Lexington, KY 40509 Full Service B&M $80,218
    Forcht Bank, National Association 3358 Tates Creek Rd Lexington, KY 40502 Full Service B&M $10,336
    Forcht Bank, National Association 391 Campbellsville By-Pass Campbellsville, KY 42718 Full Service B&M $20,902
    Forcht Bank, National Association 406 Knox St Barbourville, KY 40906 Full Service B&M $46,465
    Forcht Bank, National Association 456 U.S. 27 Whitley City, KY 42653 Full Service B&M $14,928
    Forcht Bank, National Association 4710 S. Hwy 27 Somerset, KY 42501 Full Service B&M $10,287
    Forcht Bank, National Association 50 Old Whitley Road London, KY 40741 Full Service B&M $16,843
    Forcht Bank, National Association 58 Broadway Dry Ridge, KY 41035 Full Service B&M $48,409
    Forcht Bank, National Association 6100 1st Financial Dr Burlington, KY 41005 Full Service B&M $37,074
    Forcht Bank, National Association 805 Owenton Road Corinth, KY 41010 Full Service B&M $8,517
    Forcht Bank, National Association 820 Master Street Corbin, KY 40701 Full Service B&M $45,659
    Forcht Bank, National Association 8492 Dixie Highway Louisville, KY 40258 Full Service B&M $56,289
    Forcht Bank, National Association I-75 And Violet Road Crittenden, KY 41030 Full Service B&M $25,110

    For 2018, Forcht Bank had 25 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $41,225
    Net interest income $37,786
    Total noninterest income $9,468
    Gross Fiduciary activities income $5
    Service charges on deposit accounts $4,822
    Trading account gains and fees $0
    Additional Noninterest Income $4,641
    Pre-tax net operating income $6,021
    Securities gains (or losses, -) $763
    Income before extraordinary items $7,008
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,008
    Minority interest net income $0
    Net income $7,008
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,245

    Forcht Bank's gross interest income from loans was $41,225,000.
    Forcht Bank's net interest income from loans was $37,786,000.
    Forcht Bank's fee based income from loans was $4,822,000.
    Forcht Bank's net income from loans was $7,008,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,439
    Provision for credit losses $0
    Total noninterest expense $41,233
    Salaries and employee benefits $18,537
    Premises and equipment expense $6,853
    Additional noninterest expense $15,843
    Applicable income taxes $-224
    Net charge-offs $373
    Cash dividends $0

    Forcht Bank's interest expense for loans was $3,439,000.
    Forcht Bank's payroll and benefits expense were $18,537,000.
    Forcht Bank's property, plant and equipment expenses $6,853,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $929,878
    Deposits held in domestic offices $929,878
    Deposits by Individuals, partnerships, and corporations $836,865
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $92,715
    Deposits by Commercial banks and other depository institutions in U.S. $298
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $77,357
    Demand deposits $56,492
    Nontransaction accounts $852,521
    Money market deposit accounts (MMDAs) $525,490
    Other savings deposits (excluding MMDAs) $127,555
    Total time deposits $199,476
    Total time and savings deposits $873,386
    Noninterest-bearing deposits $174,140
    Interest-bearing deposits $755,738
    Retail deposits $909,045
    IRAs and Keogh plan accounts $34,698
    Brokered deposits $6
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,240,722
    Cash & Balances due from depository institutions $44,722
    Interest-bearing balances $15,520
    Total securities $297,969
    Federal funds sold & reverse repurchase $3
    Net loans and leases $793,124
    Loan and leases loss allowance $8,573
    Trading account assets $0
    Bank premises and fixed assets $32,020
    Other real estate owned $505
    Goodwill and other intangibles $38,023
    All other assets $34,356

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,240,722
    Total Liabilities $1,091,388
    Total deposits $929,878
    Interest-bearing deposits $755,738
    Deposits held in domestic offices $929,878
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $2,794
    Trading liabilities $0
    Other borrowed funds $154,695
    Subordinated debt $0
    All other liabilities $4,021

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $793,124
    Loan and leases loss allowance $8,573
    Total loans and leases (domestic) $801,697
    All real estate loans $727,909
    Real estate loans in domestic offices $727,909
    Construction and development loans $36,741
    Residential 1-4 family construction $12,865
    Other construction, all land development and other land $23,876
    Loans secured by nonfarm nonresidential properties $243,571
    Nonfarm nonresidential secured by owner-occupied properties $116,673
    Commercial real estate & other non-farm, non-residential $126,898
    Multifamily residential real estate $52,798
    1-4 family residential loans $371,567
    Farmland loans $23,232
    Loans held in foreign offices $0
    Farm loans $1,450
    Commercial and industrial loans $45,925
    To non-U.S. addressees $0
    Loans to individuals $23,126
    Credit card loans $1,656
    Related Plans $28
    Consumer Auto Loans $5,476
    Other loans to individuals $15,966
    All other loans & leases $3,286
    Loans to foreign governments and official institutions $0
    Other loans $763
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $6,854
    Non 1-4 family restructured loans & leases $6,712
    Total loans and leases (foreign) $0

    Forcht Bank had $793,124,000 of loans outstanding in 2018. $727,909,000 of loans were in real estate loans. $36,741,000 of loans were in development loans. $52,798,000 of loans were in multifamily mortgage loans. $371,567,000 of loans were in 1-4 family mortgage loans. $1,450,000 of loans were in farm loans. $1,656,000 of loans were in credit card loans. $5,476,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 459 $89,062 $194,035
    Nonfarm, nonresidential loans - <$100k 118 $4,558 $38,627
    Nonfarm, nonresidential loans - $100-250k 153 $18,140 $118,562
    Nonfarm, nonresidential loans - $250k-1MM 188 $66,364 $353,000
    Commercial & Industrial, US addressed loans - <$1MM 385 $16,465 $42,766
    Commercial & Industrial, US addressed loans - <$100k 308 $4,402 $14,292
    Commercial & Industrial, US addressed loans - $100-250k 47 $3,602 $76,638
    Commercial & Industrial, US addressed loans - $250k-1MM 30 $8,461 $282,033
    Farmland loans - <$1MM 389 $23,232 $59,722
    Farmland loans - <$100k 389 $23,232 $59,722
    Agriculture operations loans - <$1MM 82 $1,450 $17,683
    Agriculture operations loans - <$100k 82 $1,450 $17,683