Soil hydraulic properties are central for soil quality and affect forest productivity and the impacts of climate change on forests. The water retention characteristics (WRC) of mineral forest soils in Finland are not well known, and practical tools to predict them for hydrological, biogeochemical and forest models are lacking. We statistically analyzed mineral forest soils WRC from over 130 sites in Finland, focusing on the humus layer and main root zone (0–19 cm depth). We showed that mineral forest soils can be grouped into five WRC classes that are well predictable from soil bulk density, organic matter content and clay fraction. However, the majority of the forest soils are hydrologically rather similar. We found that neither topsoil maps nor any combination of open geospatial data were able to predict WRC. Thus, in the absence of site-specific soil data, parameterizing WRC as a function of forest site fertility type was proposed. We demonstrated the approach in soil moisture modeling at a small forest headwater catchment and showed that the soil moisture response to weather conditions is jointly affected by WRC, stand attributes and topography. We showed that drought risks are highest for dense mature forests at nutrient-poor, coarse-textured sites and lower for young stands on peatlands and lowland herb-rich sites with groundwater influence. The results improve hydrological predictions for Finnish forests, and the open dataset can contribute to the larger synthesis and development of boreal forest soil pedo-transfer functions.