Reliance Savings Bank Mortgage Rates, Fees & Info

Altoona, PA

LEI: 25490073NY7HKXVMGG76

Tax ID: 23-1012663

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Reliance Savings Bank is a smaller bank specializing in Home Purchase loans. Reliance Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: State College, Altoona, Huntingdon, Johnstown, and Dubois among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Reliance Savings Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Reliance Savings Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.51% 12/9/24
    30 Year Conventional Refi 6.19% 12/9/24
    30 Year Cash-out Refi 6.47% 12/9/24
    15 Year Conventional Purchase 5.50% 12/9/24
    15 Year Conventional Refi 5.36% 12/9/24
    15 Year Cash-out Refi 5.36% 12/9/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Reliance Savings Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Reliance Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    460

    Origination Dollar Volume (All Markets)

    $64,900,000

    Employee count

    102

    Awards

    Reliance Savings Bank 30 Year Conventional Loans gold
    Show all (1) awards

    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
    STATE COLLEGE, PA (FHA|USDA|VA) 147 $28,295,000 $192,483 $2,627 4.77%
    ALTOONA, PA (FHA|USDA|VA) 240 $26,020,000 $108,417 $1,924 4.67%
    Outside of Metro Areas 24 $3,880,000 $161,667 $3,363 4.68%
    Huntingdon, PA (FHA|USDA|VA) 22 $3,130,000 $142,273 $2,274 4.58%
    JOHNSTOWN, PA (FHA|USDA|VA) 10 $1,300,000 $130,000 $1,977 4.52%
    DuBois, PA (FHA|USDA|VA) 8 $810,000 $101,250 $3,172 4.70%
    LANCASTER, PA (FHA|USDA|VA) 1 $295,000 $295,000 $5,387 4.50%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $275,000 $275,000 $5,162 4.38%
    Lewistown, PA (FHA|USDA|VA) 1 $255,000 $255,000 $3,696 4.24%
    Somerset, PA (FHA|USDA|VA) 1 $205,000 $205,000 $676 4.84%
    Lock Haven, PA (FHA|USDA|VA) 2 $140,000 $70,000 $1,640 4.62%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $135,000 $135,000 $3,498 4.75%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $95,000 $95,000 $2,164 4.75%
    Indiana, PA (FHA|USDA|VA) 1 $65,000 $65,000 $378 5.74%
    Reliance Savings Bank's top markets include State College, Altoona, Huntingdon, Johnstown, and Dubois among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Reliance Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 152
    Kish Bank
    Similarity Rank: 255
    Reliance Savings Bank
    Similarity Rank: 350
    S&T Bank
    Similarity Rank: 620
    Jersey Shore State Bank
    Similarity Rank: 648
    First Citizens Community Bank
    Similarity Rank: 696
    Northwest Bank
    Similarity Rank: 928
    First Commonwealth Bank
    Similarity Rank: 1420
    NAVY FEDERAL CREDIT UNION
    Similarity Rank: 1748
    EQUITY RESOURCES, INC.
    Similarity Rank: 2096

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 460 $64,900,000 $141,087 $2,284 4.70%

    For 2018, Reliance Savings Bank's most frequently originated type of loan was Conventional, with 460 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 220 $43,210,000 $196,409 $3,492 4.67%
    Refi 99 $12,465,000 $125,909 $1,633 4.66%
    Other 64 $3,320,000 $51,875 $403 4.83%
    Home Improvement 52 $2,130,000 $40,962 $435 4.95%
    Cash Out Refi 25 $3,775,000 $151,000 $3,456 4.22%

    For 2018, Reliance Savings Bank's most frequently cited loan purpose was Home Purchase, with 220 originations. The 2nd most popular reason was Refi, with 99 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 160 $31,740,000 $198,375 $3,598 4.61%
    15 Year 115 $10,235,000 $89,000 $949 4.80%
    10 Year 64 $2,580,000 $40,313 $360 4.70%
    30+ year 60 $12,660,000 $211,000 $3,872 4.79%
    20 Year 24 $3,850,000 $160,417 $3,499 4.61%
    5 Year 19 $975,000 $51,316 $305 4.49%
    Other 16 $2,750,000 $171,875 $1,137 4.88%
    1 Year 1 $95,000 $95,000 $0 5.75%
    3 Year 1 $15,000 $15,000 $326 4.49%

    For 2018, Reliance Savings Bank's most frequently cited loan duration was 30 Year, with 160 originations. The 2nd most popular length was 15 Year, with 115 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 301 $33,405,000 $110,980
    $1k-2k 92 $18,140,000 $197,174
    $2k-3k 23 $4,575,000 $198,913
    $3k-4k 10 $2,190,000 $219,000
    $4k-5k 3 $845,000 $281,667
    $5k+ 1 $245,000 $245,000

    Reliance Savings Bank's average total fees were $3,598, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 301 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 304 $43,520,000 $143,158
    5-6% 108 $13,420,000 $124,259
    3-4% 48 $7,960,000 $165,833

    During 2018, Reliance Savings Bank's average interest rate for loans was 4.61%, while their most frequently originated rate bucket for loans was 4-5%, with 304 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 214 $10,540,000 $49,252 $818 4.79%
    $100k-200k 124 $18,040,000 $145,484 $2,985 4.59%
    $200k-400k 106 $27,680,000 $261,132 $3,960 4.65%
    $400k-600k 13 $6,085,000 $468,077 $4,820 4.47%
    $600k-1MM 2 $1,320,000 $660,000 $0 4.70%
    $1MM+ 1 $1,235,000 $1,235,000 $0 5.65%

    2018 saw Reliance Savings Bank place emphasis on $100,000 or less loans with 214 originations, totaling $10,540,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 107 $12,205,000 $114,065 $2,124 4.71%
    $100k-150k 92 $16,170,000 $175,761 $2,822 4.64%
    $50k or less 91 $7,275,000 $79,945 $1,733 4.73%
    $75k-100k 91 $11,435,000 $125,659 $2,312 4.67%
    $150k-250k 49 $11,345,000 $231,531 $2,879 4.59%
    $250k+ 17 $4,195,000 $246,765 $1,550 4.89%

    Reliance Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 107 originations. The second most popular income band? $100k-150k, with 92 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 102 $13,000,000 $127,451 $2,058 4.70%
    20-30% 99 $12,795,000 $129,242 $2,167 4.59%
    <20% 45 $4,395,000 $97,667 $1,890 4.61%
    50-60% 35 $4,915,000 $140,429 $1,962 4.81%
    39% 20 $3,010,000 $150,500 $2,656 4.70%
    43% 14 $2,330,000 $166,429 $3,031 4.61%
    46% 14 $1,960,000 $140,000 $2,573 4.96%
    42% 13 $2,505,000 $192,692 $3,111 4.72%
    36% 13 $1,205,000 $92,692 $2,240 4.65%
    44% 13 $1,875,000 $144,231 $2,712 4.74%
    38% 12 $1,600,000 $133,333 $2,279 4.64%
    37% 10 $1,610,000 $161,000 $2,857 4.61%
    48% 9 $1,605,000 $178,333 $2,328 4.62%
    45% 9 $1,765,000 $196,111 $2,423 4.70%
    47% 9 $1,525,000 $169,444 $2,893 4.72%
    40% 8 $1,080,000 $135,000 $2,983 4.44%
    >60% 8 $1,640,000 $205,000 $2,989 4.89%
    49% 7 $1,265,000 $180,714 $3,556 4.85%
    41% 5 $695,000 $139,000 $902 4.69%

    Reliance Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 102 originations. The next most common DTI ratio? 20-30%, with 99 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 442 $61,400,000 $138,914 $2,296 4.69%
    Not applicable 9 $2,055,000 $228,333 $0 5.27%
    Not provided 4 $700,000 $175,000 $2,289 4.61%
    Asian 3 $525,000 $175,000 $1,746 4.74%
    Black 1 $145,000 $145,000 $319 4.24%
    Asian Indian 1 $75,000 $75,000 $734 4.74%

    Approval Rates

    Total approvals of all applications
    85.13%

    Reliance Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.48%

    Reliance Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 460 $64,900,000 $141,087

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $3,250,000 $541,667
    Single Family (1-4 Units):Manufactured 26 $2,540,000 $97,692
    Single Family (1-4 Units):Site-Built 428 $59,110,000 $138,107

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 67 $4,515,000 $67,388 $562 4.78%
    40-60% 37 $4,665,000 $126,081 $1,569 4.61%
    60-80% 139 $24,845,000 $178,741 $3,362 4.64%
    80-100% 137 $27,975,000 $204,197 $3,475 4.64%
    Over 100% 1 $365,000 $365,000 $3,845 5.50%
    Under 20% 79 $2,535,000 $32,089 $300 4.86%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    RELIANCE FIRST CAPITAL LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 33.3%
    RELIANCE FIRST CAPITAL LLC Conventional home mortgage Closing on a mortgage 1 11.1%
    RELIANCE FIRST CAPITAL LLC Conventional home mortgage Struggling to pay mortgage 1 11.1%
    RELIANCE FIRST CAPITAL LLC FHA mortgage Trouble during payment process 1 11.1%
    RELIANCE FIRST CAPITAL LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 22.2%
    RELIANCE FIRST CAPITAL LLC VA mortgage Incorrect information on your report 1 11.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Reliance Savings Bank 100 Hawbaker Industrial Drive State College, PA 16803 Full Service B&M $69,766
    Reliance Savings Bank 1119 Twelfth Street Altoona, PA 16601 Full Service Cyber Office $5,608
    Reliance Savings Bank 1119 Twelfth Street Altoona, PA 16601 Full Service B&M $46,374
    Reliance Savings Bank 1254 Plank Rd Duncansville, PA 16635 Full Service B&M $29,882
    Reliance Savings Bank 1921 Pleasant Valley Boulevard Altoona, PA 16602 Full Service B&M $45,395
    Reliance Savings Bank 209 South Walnut Street Martinsburg, PA 16662 Full Service B&M $379
    Reliance Savings Bank 226 W Plank Road Altoona, PA 16602 Full Service B&M $57,692
    Reliance Savings Bank 401 S. Logan Blvd Altoona, PA 16602 Full Service B&M $38,638
    Reliance Savings Bank 916 Pennsylvania Ave Tyrone, PA 16686 Full Service B&M $55,126

    For 2018, Reliance Savings Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $19,006
    Net interest income $14,668
    Total noninterest income $3,476
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $589
    Trading account gains and fees $0
    Additional Noninterest Income $2,887
    Pre-tax net operating income $3,558
    Securities gains (or losses, -) $24
    Income before extraordinary items $2,804
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,804
    Minority interest net income $0
    Net income $2,804
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,785

    Reliance Savings Bank's gross interest income from loans was $19,006,000.
    Reliance Savings Bank's net interest income from loans was $14,668,000.
    Reliance Savings Bank's fee based income from loans was $589,000.
    Reliance Savings Bank's net income from loans was $2,804,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,338
    Provision for credit losses $900
    Total noninterest expense $13,686
    Salaries and employee benefits $8,069
    Premises and equipment expense $1,011
    Additional noninterest expense $4,606
    Applicable income taxes $778
    Net charge-offs $71
    Cash dividends $0

    Reliance Savings Bank's interest expense for loans was $4,338,000.
    Reliance Savings Bank's payroll and benefits expense were $8,069,000.
    Reliance Savings Bank's property, plant and equipment expenses $1,011,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $382,146
    Deposits held in domestic offices $382,146
    Deposits by Individuals, partnerships, and corporations $312,451
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $69,695
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $173,256
    Demand deposits $55,250
    Nontransaction accounts $208,890
    Money market deposit accounts (MMDAs) $31,414
    Other savings deposits (excluding MMDAs) $47,828
    Total time deposits $129,648
    Total time and savings deposits $326,896
    Noninterest-bearing deposits $58,318
    Interest-bearing deposits $323,828
    Retail deposits $338,055
    IRAs and Keogh plan accounts $16,426
    Brokered deposits $10,939
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $531,516
    Cash & Balances due from depository institutions $22,229
    Interest-bearing balances $11,763
    Total securities $110,975
    Federal funds sold & reverse repurchase $118
    Net loans and leases $375,581
    Loan and leases loss allowance $5,090
    Trading account assets $0
    Bank premises and fixed assets $4,061
    Other real estate owned $125
    Goodwill and other intangibles $4,452
    All other assets $13,975

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $531,516
    Total Liabilities $476,887
    Total deposits $382,146
    Interest-bearing deposits $323,828
    Deposits held in domestic offices $382,146
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $27,129
    Trading liabilities $0
    Other borrowed funds $58,052
    Subordinated debt $0
    All other liabilities $9,560

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $375,581
    Loan and leases loss allowance $5,090
    Total loans and leases (domestic) $380,671
    All real estate loans $343,741
    Real estate loans in domestic offices $343,741
    Construction and development loans $15,003
    Residential 1-4 family construction $4,099
    Other construction, all land development and other land $10,904
    Loans secured by nonfarm nonresidential properties $94,182
    Nonfarm nonresidential secured by owner-occupied properties $34,220
    Commercial real estate & other non-farm, non-residential $59,962
    Multifamily residential real estate $25,421
    1-4 family residential loans $188,413
    Farmland loans $20,722
    Loans held in foreign offices $0
    Farm loans $1,494
    Commercial and industrial loans $15,199
    To non-U.S. addressees $0
    Loans to individuals $8,372
    Credit card loans $0
    Related Plans $4,120
    Consumer Auto Loans $185
    Other loans to individuals $4,067
    All other loans & leases $11,866
    Loans to foreign governments and official institutions $0
    Other loans $88
    Loans to depository institutions and acceptances of other banks $1,501
    Loans not secured by real estate $260
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $4,600
    Non 1-4 family restructured loans & leases $4,460
    Total loans and leases (foreign) $0

    Reliance Savings Bank had $375,581,000 of loans outstanding in 2018. $343,741,000 of loans were in real estate loans. $15,003,000 of loans were in development loans. $25,421,000 of loans were in multifamily mortgage loans. $188,413,000 of loans were in 1-4 family mortgage loans. $1,494,000 of loans were in farm loans. $0 of loans were in credit card loans. $185,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 171 $29,448 $172,211
    Nonfarm, nonresidential loans - <$100k 49 $1,596 $32,571
    Nonfarm, nonresidential loans - $100-250k 52 $5,466 $105,115
    Nonfarm, nonresidential loans - $250k-1MM 70 $22,386 $319,800
    Commercial & Industrial, US addressed loans - <$1MM 286 $14,960 $52,308
    Commercial & Industrial, US addressed loans - <$100k 201 $3,656 $18,189
    Commercial & Industrial, US addressed loans - $100-250k 48 $3,993 $83,188
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $7,311 $197,595
    Farmland loans - <$1MM 35 $5,115 $146,143
    Farmland loans - <$100k 15 $813 $54,200
    Farmland loans - $100-250k 12 $1,865 $155,417
    Farmland loans - $250k-1MM 8 $2,437 $304,625
    Agriculture operations loans - <$1MM 14 $976 $69,714
    Agriculture operations loans - <$100k 11 $348 $31,636
    Agriculture operations loans - $100-250k 2 $310 $155,000
    Agriculture operations loans - $250k-1MM 1 $318 $318,000