Heritage Bank Mortgage Rates, Fees & Info

Erlanger, KY

LEI: 549300XT5WP4TMNXL317

Tax ID: 61-1174806

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Heritage Bank is a smaller bank specializing in Refi and Home Purchase loans. Heritage Bank has a high proportion of conventional loans. Their top markets by origination volume include: Cincinnati, Dayton, and Louisville among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Heritage 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.

    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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    Originations

    162

    Origination Dollar Volume (All Markets)

    $102,370,000

    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) 146 $66,920,000 $458,356 $0 0.00%
    Outside of Metro Areas 13 $17,335,000 $1,333,462 $0 0.00%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 2 $15,710,000 $7,855,000 $0 0.00%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $2,405,000 $2,405,000 $0 0.00%
    Heritage Bank's top markets include Cincinnati, Dayton, and Louisville among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 162 $102,370,000 $631,914 $0 0.00%

    For 2022, Heritage Bank's most frequently originated type of loan was Conventional, with 162 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 75 $34,325,000 $457,667 $0 0.00%
    Home Purchase 69 $65,795,000 $953,551 $0 0.00%
    Other 15 $1,235,000 $82,333 $0 0.00%
    Home Improvement 3 $1,015,000 $338,333 $0 0.00%

    For 2022, Heritage Bank's most frequently cited loan purpose was Refi, with 75 originations. The 2nd most popular reason was Home Purchase, with 69 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 162 $102,370,000 $631,914 $0 0.00%

    For 2022, Heritage Bank's most frequently cited loan duration was Other, with 162 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 44 $6,480,000 $147,273 $0 0.00%
    $200k-400k 41 $11,685,000 $285,000 $0 0.00%
    $100,000 or less 33 $2,235,000 $67,727 $0 0.00%
    $400k-600k 17 $8,265,000 $486,176 $0 0.00%
    $1MM+ 16 $65,440,000 $4,090,000 $0 0.00%
    $600k-1MM 11 $8,265,000 $751,364 $0 0.00%

    2022 saw Heritage Bank place emphasis on $100k-200k loans with 44 originations, totaling $6,480,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 19 $6,575,000 $346,053 $0 0.00%
    $100k-150k 18 $2,920,000 $162,222 $0 0.00%
    $250k+ 16 $12,240,000 $765,000 $0 0.00%
    $75k-100k 11 $2,155,000 $195,909 $0 0.00%
    $50k-75k 9 $1,195,000 $132,778 $0 0.00%
    $50k or less 9 $805,000 $89,444 $0 0.00%

    Heritage Bank lent most frequently to those with incomes in the $150k-250k range, with 19 originations. The second most popular income band? $100k-150k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 162 $102,370,000 $631,914 $0 0.00%

    Heritage Bank lent most frequently to those with DTI ratios of Exempt%, with 162 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 74 $75,070,000 $1,014,459 $0 0.00%
    White 71 $20,525,000 $289,085 $0 0.00%
    Not provided 17 $6,775,000 $398,529 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.70%

    Heritage Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    95.06%

    Heritage Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 162 $102,370,000 $631,914

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    162 $102,370,000 $631,914