The Bank Of Forest Mortgage Rates, Fees & Info
Forest, MSLEI: 549300XYMV9W4308FO60
Tax ID: 64-0157923
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
The Bank Of Forest is a smaller bank specializing in Cash Out Refi and Home Purchase loans. The Bank Of Forest has a high proportion of conventional loans. Their top markets by origination volume include: Jackson, Starkville, and Meridian among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)The Bank Of Forest 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.
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
86Origination Dollar Volume (All Markets)
$9,410,000Top 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 | 79 | $7,905,000 | $100,063 | $0 | 0.00% |
| JACKSON, MS (FHA|USDA|VA) | 5 | $1,315,000 | $263,000 | $0 | 0.00% |
| Starkville, MS (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Meridian, MS (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 86 | $9,410,000 | $109,419 | $0 | 0.00% |
For 2023, The Bank Of Forest's most frequently originated type of loan was Conventional, with 86 originations.
Loan Reason
For 2023, The Bank Of Forest's most frequently cited loan purpose was Cash Out Refi, with 39 originations. The 2nd most popular reason was Home Purchase, with 34 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 86 | $9,410,000 | $109,419 | $0 | 0.00% |
For 2023, The Bank Of Forest's most frequently cited loan duration was Other, with 86 originations.
Loan Sizing
2023 saw The Bank Of Forest place emphasis on $100,000 or less loans with 56 originations, totaling $2,520,000 in origination value.
Applicant Income
The Bank Of Forest lent most frequently to those with incomes in the $50k or less range, with 22 originations. The second most popular income band? $50k-75k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 86 | $9,410,000 | $109,419 | $0 | 0.00% |
The Bank Of Forest lent most frequently to those with DTI ratios of Exempt%, with 86 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.75%
The Bank Of Forest has an average approval rate.
Pick Rate
Approvals leading to origination95.35%
The Bank Of Forest 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 | 86 | $9,410,000 | $109,419 |