Forcht Bank Mortgage Rates, Fees & Info

Lexington, KY

LEI: 549300RGUEWNDH44ES51

Tax ID: 71-0886038

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 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, Richmond, and London among others. We have data for 20 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% 4/21/24
    30 Year Conventional Refi 5.92% 4/21/24
    30 Year Cash-out Refi 6.66% 4/21/24
    30 Year FHA Purchase 7.00% 4/21/24
    30 Year FHA Refi 6.27% 4/21/24
    30 Year VA Purchase 6.23% 4/21/24
    30 Year USDA Purchase 6.76% 4/21/24
    15 Year Conventional Purchase 5.75% 4/21/24
    15 Year Conventional Refi 5.72% 4/21/24
    15 Year Cash-out Refi 5.72% 4/21/24
    15 Year FHA Purchase 5.68% 4/21/24
    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

    569

    Origination Dollar Volume (All Markets)

    $190,685,000
    Show all (16) 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) 174 $72,280,000 $415,402 $3,411 4.39%
    LOUISVILLE, KY (FHA|USDA|VA) 83 $27,055,000 $325,964 $2,804 4.51%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 63 $27,015,000 $428,810 $2,266 4.28%
    Richmond-Berea, KY (FHA|USDA|VA) 12 $15,770,000 $1,314,167 $3,904 4.42%
    London, KY (FHA|USDA|VA) 84 $13,890,000 $165,357 $2,201 4.32%
    Campbellsville, KY (FHA|USDA|VA) 66 $12,490,000 $189,242 $2,124 4.58%
    Somerset, KY (FHA|USDA|VA) 38 $6,070,000 $159,737 $2,926 4.58%
    Outside of Metro Areas 32 $5,620,000 $175,625 $2,558 4.51%
    BOWLING GREEN, KY (FHA|USDA|VA) 1 $3,445,000 $3,445,000 $0 4.50%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 4 $2,100,000 $525,000 $3,404 4.96%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $1,430,000 $715,000 $6,040 4.00%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $1,215,000 $1,215,000 $0 4.75%
    Sevierville, TN (FHA|USDA|VA) 1 $625,000 $625,000 $0 3.25%
    Bellefontaine, OH (FHA|USDA|VA) 2 $470,000 $235,000 $0 4.50%
    Glasgow, KY (FHA|USDA|VA) 1 $395,000 $395,000 $2,917 5.99%
    COLUMBUS, OH (FHA|USDA|VA) 1 $315,000 $315,000 $2,018 5.75%
    Mount Sterling, KY (FHA|USDA|VA) 1 $185,000 $185,000 $1,690 3.25%
    Danville, KY (FHA|USDA|VA) 1 $145,000 $145,000 $0 3.75%
    Murray, KY (FHA|USDA|VA) 1 $115,000 $115,000 $4,258 6.00%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $55,000 $55,000 $1,509 3.99%
    Forcht Bank's top markets include Cincinnati, Louisville, Lexington, Richmond, and London among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Tennessee (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.

    The Monticello Banking Company
    Similarity Rank: 95
    Commercial Bank
    Similarity Rank: 114
    Commonwealth Bank and Trust Company
    Similarity Rank: 133
    Sharefax Credit Union
    Similarity Rank: 170
    CINFED Federal Credit Union
    Similarity Rank: 210
    The Citizens National Bank of Somerset
    Similarity Rank: 250
    City National Bank of West Virginia
    Similarity Rank: 333
    The Peoples Bank
    Similarity Rank: 420
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 442
    The North Side Bank & Trust Company
    Similarity Rank: 450

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 542 $185,960,000 $343,100 $2,531 4.43%
    FHA 11 $1,955,000 $177,727 $5,861 4.14%
    VA 8 $1,630,000 $203,750 $7,801 4.98%
    USDA 8 $1,140,000 $142,500 $4,066 4.44%

    For 2022, Forcht Bank's most frequently originated type of loan was Conventional, with 542 originations. Their 2nd most popular type was FHA, with 11 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 332 $115,960,000 $349,277 $3,316 4.52%
    Refi 159 $57,715,000 $362,987 $1,889 4.16%
    Cash Out Refi 35 $6,655,000 $190,143 $2,509 4.58%
    Other 26 $4,970,000 $191,154 $1,856 4.55%
    Home Improvement 17 $5,385,000 $316,765 $2,143 4.86%

    For 2022, Forcht Bank's most frequently cited loan purpose was Home Purchase, with 332 originations. The 2nd most popular reason was Refi, with 159 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 237 $66,985,000 $282,637 $2,831 4.39%
    20 Year 121 $37,925,000 $313,430 $2,182 4.45%
    15 Year 82 $12,790,000 $155,976 $1,805 4.15%
    Other 51 $30,975,000 $607,353 $2,438 4.74%
    30+ year 45 $22,375,000 $497,222 $5,061 4.45%
    10 Year 21 $12,475,000 $594,048 $1,201 4.98%
    5 Year 9 $5,315,000 $590,556 $1,126 4.51%
    1 Year 3 $1,845,000 $615,000 $2,245 5.16%

    For 2022, Forcht Bank's most frequently cited loan duration was 30 Year, with 237 originations. The 2nd most popular length was 20 Year, with 121 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 321 $66,865,000 $208,302
    $1k-2k 65 $32,975,000 $507,308
    $2k-3k 6 $780,000 $130,000
    $5k+ 2 $570,000 $285,000
    $3k-4k 1 $185,000 $185,000

    Forcht Bank's average total fees were $2,831, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 321 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 214 $78,190,000 $365,374
    4-5% 163 $49,955,000 $306,472
    5-6% 115 $41,735,000 $362,913
    2.5-3% 43 $16,505,000 $383,837
    6-7% 27 $3,535,000 $130,926
    7-8% 5 $545,000 $109,000
    Over 8% 1 $45,000 $45,000
    <2.5% 1 $175,000 $175,000

    During 2022, Forcht Bank's average interest rate for loans was 4.39%, while their most frequently originated rate bucket for loans was 3-4%, with 214 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 162 $24,150,000 $149,074 $2,294 4.32%
    $200k-400k 158 $43,500,000 $275,316 $2,966 4.48%
    $100,000 or less 116 $7,280,000 $62,759 $1,670 4.75%
    $400k-600k 73 $34,995,000 $479,384 $3,843 4.40%
    $600k-1MM 39 $28,885,000 $740,641 $5,031 4.04%
    $1MM+ 21 $51,875,000 $2,470,238 $7,362 4.02%

    2022 saw Forcht Bank place emphasis on $100k-200k loans with 162 originations, totaling $24,150,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 81 $20,625,000 $254,630 $2,847 4.69%
    $50k-75k 79 $12,615,000 $159,684 $2,327 4.42%
    $50k or less 79 $8,365,000 $105,886 $2,139 4.41%
    $75k-100k 77 $15,485,000 $201,104 $2,621 4.61%
    $150k-250k 62 $23,620,000 $380,968 $3,650 4.26%
    $250k+ 43 $26,985,000 $627,558 $4,067 4.07%

    Forcht Bank lent most frequently to those with incomes in the $100k-150k range, with 81 originations. The second most popular income band? $50k-75k, with 79 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 96 $22,550,000 $234,896 $2,267 4.23%
    30-36% 88 $22,810,000 $259,205 $2,751 4.43%
    <20% 53 $12,985,000 $245,000 $2,411 4.31%
    41% 21 $5,665,000 $269,762 $3,132 4.30%
    36% 17 $3,745,000 $220,294 $2,636 4.19%
    42% 16 $2,920,000 $182,500 $2,372 4.16%
    43% 16 $5,610,000 $350,625 $4,119 4.65%
    37% 14 $4,170,000 $297,857 $2,810 4.34%
    40% 14 $3,860,000 $275,714 $2,990 4.71%
    39% 13 $4,095,000 $315,000 $2,861 4.11%
    38% 13 $2,655,000 $204,231 $2,578 4.50%
    50-60% 12 $4,470,000 $372,500 $3,374 5.08%
    44% 8 $1,170,000 $146,250 $3,292 3.89%
    48% 7 $1,625,000 $232,143 $3,539 5.59%
    45% 6 $1,520,000 $253,333 $3,093 5.21%
    >60% 6 $2,570,000 $428,333 $3,782 4.16%
    49% 4 $850,000 $212,500 $6,159 5.16%
    47% 3 $735,000 $245,000 $3,857 5.67%
    46% 3 $1,195,000 $398,333 $3,109 4.42%

    Forcht Bank lent most frequently to those with DTI ratios of 20-30%, with 96 originations. The next most common DTI ratio? 30-36%, with 88 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 414 $103,850,000 $250,845 $2,767 4.43%
    Not applicable 129 $79,455,000 $615,930 $0 4.43%
    Not provided 16 $4,630,000 $289,375 $2,278 4.47%
    Black 6 $1,630,000 $271,667 $2,843 4.50%
    Asian 2 $680,000 $340,000 $2,823 4.12%
    Asian Indian 1 $385,000 $385,000 $2,562 5.99%
    American Indian 1 $55,000 $55,000 $2,160 3.50%

    Approval Rates

    Total approvals of all applications
    84.93%

    Forcht Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    70.12%

    Forcht Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 569 $190,685,000 $335,123

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    569 $190,685,000 $335,123

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 52 $6,640,000 $127,692 $1,537 4.30%
    40-60% 92 $24,680,000 $268,261 $2,148 4.30%
    60-80% 227 $84,635,000 $372,841 $2,833 4.40%
    80-100% 173 $70,285,000 $406,272 $3,343 4.48%
    Over 100% 4 $2,770,000 $692,500 $10,930 4.31%
    Under 20% 19 $1,275,000 $67,105 $1,345 5.45%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%