The Bank Of Forest Mortgage Rates, Fees & Info

Forest, MS

LEI: 549300XYMV9W4308FO60

Tax ID: 64-0157923

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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.

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Originations

86

Origination Dollar Volume (All Markets)

$9,410,000

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
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%
The Bank Of Forest's top markets include Jackson, Starkville, and Meridian among others.

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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 39 $3,655,000 $93,718 $0 0.00%
    Home Purchase 34 $4,670,000 $137,353 $0 0.00%
    Refi 10 $860,000 $86,000 $0 0.00%
    Home Improvement 3 $225,000 $75,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 56 $2,520,000 $45,000 $0 0.00%
    $100k-200k 18 $2,540,000 $141,111 $0 0.00%
    $200k-400k 8 $2,110,000 $263,750 $0 0.00%
    $400k-600k 2 $860,000 $430,000 $0 0.00%
    $600k-1MM 2 $1,380,000 $690,000 $0 0.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 22 $1,060,000 $48,182 $0 0.00%
    $50k-75k 17 $1,105,000 $65,000 $0 0.00%
    $75k-100k 14 $1,120,000 $80,000 $0 0.00%
    $150k-250k 8 $1,880,000 $235,000 $0 0.00%
    $100k-150k 6 $780,000 $130,000 $0 0.00%
    $250k+ 1 $95,000 $95,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 56 $5,510,000 $98,393 $0 0.00%
    Not applicable 17 $3,325,000 $195,588 $0 0.00%
    Black 13 $575,000 $44,231 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.75%

    The Bank Of Forest has an average approval rate.

    Pick Rate

    Approvals leading to origination
    95.35%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    86 $9,410,000 $109,419