Forward Bank at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the A grade breaks down
Each component is a percentile rank among 1,883 small mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
77th4.2% deniedPricingmedian rate spread over APOR, weight 30%
52nd0.25 ptsProcesswithdrawn + incomplete share, weight 15%
87th2.6%Closing coststotal loan costs ÷ loan amount, weight 10%
77th1.23% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 390 | 322 | 6.9% | 6.9% | 6.75% | $57M |
| 2024 | 462 | 367 | 7.4% | 7.4% | 7.55% | $68M |
| 2025 | 463 | 382 | 4.1% | 4.2% | 7.00% | $91M |
What Forward Bank lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 0 home-equity lines, 0 reverse mortgages, 8 manufactured homes, 69 investment properties.
Why Forward Bank denies applications
Primary reason reported for each of the 19 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Forward Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 53 | 44 | 5.8% |
| $50k – $100k | 156 | 123 | 4.7% |
| $100k – $150k | 98 | 81 | 2.1% |
| $150k – $250k | 57 | 47 | 3.6% |
| Over $250k | 40 | 35 | 2.6% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 61 | 53 | 1.7% |
| 25–34 | 102 | 80 | 4.1% |
| 35–44 | 109 | 90 | 3.7% |
| 45–54 | 76 | 56 | 9.5% |
| 55–64 | 45 | 35 | 4.6% |
Where Forward Bank lends
4 states and 39 counties in 2025. Click a state for the lender's full record there.
Frequently asked questions
Forward Bank denied 4.2% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 77th percentile of small mortgage lenders.
The most common reason Forward Bank gave in 2025 was "credit history", cited on 36.8% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans Forward Bank originated in 2025 was 7.00%, and its median rate spread over the average prime offer rate was 0.25 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 58% of its applications were for home purchases, 38% for refinancing (including cash-out), and 4% for home improvement or other purposes. By loan type: 100% conventional, 0% FHA, 0% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.