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 and Refi 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 11 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.

    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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.51% 12/4/24
    30 Year Conventional Refi 6.19% 12/4/24
    30 Year Cash-out Refi 6.47% 12/4/24
    15 Year Conventional Purchase 5.50% 12/4/24
    15 Year Conventional Refi 5.36% 12/4/24
    15 Year Cash-out Refi 5.36% 12/4/24
    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

    491

    Origination Dollar Volume (All Markets)

    $81,395,000

    Employee count

    99

    Awards

    Reliance Savings Bank 30 Year Conventional Loans gold Reliance Savings Bank 30 Year Conventional Loans gold Reliance Savings Bank 30 Year Conventional Loans silver
    Show all (3) 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) 161 $37,755,000 $234,503 $2,483 4.28%
    ALTOONA, PA (FHA|USDA|VA) 259 $32,465,000 $125,347 $1,995 4.29%
    Huntingdon, PA (FHA|USDA|VA) 23 $3,475,000 $151,087 $2,181 4.29%
    JOHNSTOWN, PA (FHA|USDA|VA) 19 $2,985,000 $157,105 $2,133 4.31%
    Outside of Metro Areas 12 $2,370,000 $197,500 $3,012 4.35%
    DuBois, PA (FHA|USDA|VA) 8 $740,000 $92,500 $2,182 4.34%
    PITTSBURGH, PA (FHA|USDA|VA) 2 $540,000 $270,000 $4,108 4.37%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2 $480,000 $240,000 $3,323 3.94%
    Indiana, PA (FHA|USDA|VA) 2 $290,000 $145,000 $1,616 4.73%
    Lock Haven, PA (FHA|USDA|VA) 2 $150,000 $75,000 $1,434 4.69%
    WILLIAMSPORT, PA (FHA|USDA|VA) 1 $145,000 $145,000 $2,714 3.75%
    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.

    Kish Bank
    Similarity Rank: 184
    Reliance Savings Bank
    Similarity Rank: 187
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 190
    Jersey Shore State Bank
    Similarity Rank: 598
    First Citizens Community Bank
    Similarity Rank: 675
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    UNION HOME MORTGAGE CORP.
    Similarity Rank: 2796

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 491 $81,395,000 $165,774 $2,206 4.29%

    For 2019, Reliance Savings Bank's most frequently originated type of loan was Conventional, with 491 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 184 $36,620,000 $199,022 $3,408 4.36%
    Refi 150 $27,330,000 $182,200 $1,425 4.22%
    Cash Out Refi 61 $12,845,000 $210,574 $3,703 3.66%
    Other 58 $2,620,000 $45,172 $389 4.68%
    Home Improvement 38 $1,980,000 $52,105 $447 4.70%

    For 2019, Reliance Savings Bank's most frequently cited loan purpose was Home Purchase, with 184 originations. The 2nd most popular reason was Refi, with 150 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 163 $33,475,000 $205,368 $3,460 3.95%
    15 Year 127 $15,785,000 $124,291 $1,528 4.33%
    10 Year 73 $3,495,000 $47,877 $393 4.29%
    20 Year 61 $10,325,000 $169,262 $1,684 4.62%
    30+ year 30 $9,520,000 $317,333 $4,373 5.06%
    5 Year 20 $430,000 $21,500 $312 4.54%
    Other 15 $8,175,000 $545,000 $2,565 4.44%
    1 Year 1 $165,000 $165,000 $0 5.25%
    3 Year 1 $25,000 $25,000 $366 4.25%

    For 2019, Reliance Savings Bank's most frequently cited loan duration was 30 Year, with 163 originations. The 2nd most popular length was 15 Year, with 127 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 321 $36,705,000 $114,346
    $1k-2k 90 $22,090,000 $245,444
    $2k-3k 20 $4,670,000 $233,500
    $3k-4k 9 $2,585,000 $287,222
    $4k-5k 4 $1,180,000 $295,000
    $5k+ 1 $255,000 $255,000

    Reliance Savings Bank's average total fees were $3,460, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 321 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 209 $37,845,000 $181,077
    4-5% 197 $33,355,000 $169,315
    5-6% 60 $7,190,000 $119,833
    2.5-3% 14 $2,430,000 $173,571
    6-7% 11 $575,000 $52,273

    During 2019, Reliance Savings Bank's average interest rate for loans was 3.95%, while their most frequently originated rate bucket for loans was 3-4%, with 209 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 220 $10,550,000 $47,955 $797 4.49%
    $100k-200k 124 $17,890,000 $144,274 $2,563 4.17%
    $200k-400k 118 $31,980,000 $271,017 $3,795 4.07%
    $400k-600k 21 $9,595,000 $456,905 $4,867 4.15%
    $1MM+ 4 $8,410,000 $2,102,500 $0 4.58%
    $600k-1MM 4 $2,970,000 $742,500 $6,321 4.54%

    2019 saw Reliance Savings Bank place emphasis on $100,000 or less loans with 220 originations, totaling $10,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 105 $17,855,000 $170,048 $2,523 4.25%
    $50k or less 98 $7,330,000 $74,796 $1,432 4.32%
    $50k-75k 84 $9,540,000 $113,571 $1,953 4.29%
    $75k-100k 82 $12,790,000 $155,976 $2,332 4.22%
    $150k-250k 62 $14,790,000 $238,548 $2,893 4.14%
    $250k+ 24 $7,430,000 $309,583 $3,422 4.35%

    Reliance Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 105 originations. The second most popular income band? $50k or less, with 98 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 133 $18,225,000 $137,030 $2,091 4.13%
    30-36% 91 $12,955,000 $142,363 $2,129 4.26%
    <20% 61 $8,325,000 $136,475 $2,030 4.05%
    50-60% 19 $3,335,000 $175,526 $1,969 4.75%
    36% 17 $3,215,000 $189,118 $3,182 4.07%
    42% 16 $2,660,000 $166,250 $2,228 4.00%
    39% 16 $2,140,000 $133,750 $1,744 4.24%
    40% 16 $3,250,000 $203,125 $2,958 3.99%
    38% 15 $1,955,000 $130,333 $2,380 4.20%
    44% 13 $2,305,000 $177,308 $2,785 4.14%
    48% 9 $1,385,000 $153,889 $2,674 4.25%
    43% 8 $1,300,000 $162,500 $1,663 4.79%
    45% 8 $1,290,000 $161,250 $2,624 4.35%
    37% 7 $1,315,000 $187,857 $2,889 4.52%
    41% 6 $1,100,000 $183,333 $1,836 4.55%
    46% 6 $910,000 $151,667 $2,257 4.31%
    47% 6 $1,400,000 $233,333 $2,399 4.23%
    49% 6 $720,000 $120,000 $2,109 4.70%
    >60% 4 $1,000,000 $250,000 $1,951 4.90%

    Reliance Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 133 originations. The next most common DTI ratio? 30-36%, with 91 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 463 $70,145,000 $151,501 $2,207 4.25%
    Not applicable 23 $10,555,000 $458,913 $0 5.16%
    Asian 3 $545,000 $181,667 $3,324 3.67%
    Not provided 1 $125,000 $125,000 $313 5.59%
    Black 1 $25,000 $25,000 $416 5.24%

    Approval Rates

    Total approvals of all applications
    89.77%

    Reliance Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.82%

    Reliance Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 491 $81,395,000 $165,774

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $9,015,000 $1,001,667
    Single Family (1-4 Units):Manufactured 13 $1,035,000 $79,615
    Single Family (1-4 Units):Site-Built 469 $71,345,000 $152,122

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 67 $5,545,000 $82,761 $615 4.59%
    40-60% 51 $6,145,000 $120,490 $1,532 4.14%
    60-80% 156 $39,780,000 $255,000 $3,357 4.11%
    80-100% 136 $27,300,000 $200,735 $3,265 4.24%
    Under 20% 81 $2,625,000 $32,407 $307 4.59%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    RELIANCE FIRST CAPITAL LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    RELIANCE FIRST CAPITAL LLC Conventional home mortgage Closing on a mortgage 1 33.3%
    RELIANCE FIRST CAPITAL LLC FHA mortgage Trouble during payment process 1 33.3%

    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 $69,051
    Reliance Savings Bank 1119 Twelfth Street Altoona, PA 16601 Full Service Cyber Office $5,964
    Reliance Savings Bank 1119 Twelfth Street Altoona, PA 16601 Full Service B&M $46,822
    Reliance Savings Bank 1254 Plank Rd Duncansville, PA 16635 Full Service B&M $33,014
    Reliance Savings Bank 1921 Pleasant Valley Boulevard Altoona, PA 16602 Full Service B&M $53,669
    Reliance Savings Bank 209 South Walnut Street Martinsburg, PA 16662 Full Service B&M $1,570
    Reliance Savings Bank 226 W Plank Road Altoona, PA 16602 Full Service B&M $58,997
    Reliance Savings Bank 401 S. Logan Blvd Altoona, PA 16602 Full Service B&M $40,561
    Reliance Savings Bank 916 Pennsylvania Ave Tyrone, PA 16686 Full Service B&M $66,753

    For 2019, Reliance Savings Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,918
    Net interest income $15,542
    Total noninterest income $3,775
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $579
    Trading account gains and fees $0
    Additional Noninterest Income $3,196
    Pre-tax net operating income $4,268
    Securities gains (or losses, -) $120
    Income before extraordinary items $3,565
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,565
    Minority interest net income $0
    Net income $3,565
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,467

    Reliance Savings Bank's gross interest income from loans was $21,918,000.
    Reliance Savings Bank's net interest income from loans was $15,542,000.
    Reliance Savings Bank's fee based income from loans was $579,000.
    Reliance Savings Bank's net income from loans was $3,565,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,376
    Provision for credit losses $1,186
    Total noninterest expense $13,863
    Salaries and employee benefits $7,926
    Premises and equipment expense $973
    Additional noninterest expense $4,964
    Applicable income taxes $823
    Net charge-offs $2,002
    Cash dividends $0

    Reliance Savings Bank's interest expense for loans was $6,376,000.
    Reliance Savings Bank's payroll and benefits expense were $7,926,000.
    Reliance Savings Bank's property, plant and equipment expenses $973,000.

    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 0.0%
    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 $399,700
    Deposits held in domestic offices $399,700
    Deposits by Individuals, partnerships, and corporations $331,616
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $68,084
    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 $184,683
    Demand deposits $52,233
    Nontransaction accounts $215,017
    Money market deposit accounts (MMDAs) $42,949
    Other savings deposits (excluding MMDAs) $48,766
    Total time deposits $123,303
    Total time and savings deposits $347,467
    Noninterest-bearing deposits $55,493
    Interest-bearing deposits $344,208
    Retail deposits $365,121
    IRAs and Keogh plan accounts $16,513
    Brokered deposits $8,939
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $556,112
    Cash & Balances due from depository institutions $29,097
    Interest-bearing balances $16,299
    Total securities $118,996
    Federal funds sold & reverse repurchase $459
    Net loans and leases $385,349
    Loan and leases loss allowance $4,274
    Trading account assets $0
    Bank premises and fixed assets $3,982
    Other real estate owned $0
    Goodwill and other intangibles $4,473
    All other assets $13,756

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $556,112
    Total Liabilities $496,695
    Total deposits $399,700
    Interest-bearing deposits $344,208
    Deposits held in domestic offices $399,700
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $31,085
    Trading liabilities $0
    Other borrowed funds $55,788
    Subordinated debt $0
    All other liabilities $10,122

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $385,349
    Loan and leases loss allowance $4,274
    Total loans and leases (domestic) $389,623
    All real estate loans $346,570
    Real estate loans in domestic offices $346,570
    Construction and development loans $13,139
    Residential 1-4 family construction $4,105
    Other construction, all land development and other land $9,034
    Loans secured by nonfarm nonresidential properties $92,101
    Nonfarm nonresidential secured by owner-occupied properties $32,121
    Commercial real estate & other non-farm, non-residential $59,980
    Multifamily residential real estate $25,063
    1-4 family residential loans $185,376
    Farmland loans $30,891
    Loans held in foreign offices $0
    Farm loans $2,176
    Commercial and industrial loans $21,695
    To non-U.S. addressees $0
    Loans to individuals $8,369
    Credit card loans $0
    Related Plans $4,087
    Consumer Auto Loans $289
    Other loans to individuals $3,993
    All other loans & leases $10,812
    Loans to foreign governments and official institutions $0
    Other loans $64
    Loans to depository institutions and acceptances of other banks $1,500
    Loans not secured by real estate $200
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $7,296
    Non 1-4 family restructured loans & leases $7,106
    Total loans and leases (foreign) $0

    Reliance Savings Bank had $385,349,000 of loans outstanding in 2019. $346,570,000 of loans were in real estate loans. $13,139,000 of loans were in development loans. $25,063,000 of loans were in multifamily mortgage loans. $185,376,000 of loans were in 1-4 family mortgage loans. $2,176,000 of loans were in farm loans. $0 of loans were in credit card loans. $289,000 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 175 $32,139 $183,651
    Nonfarm, nonresidential loans - <$100k 48 $1,729 $36,021
    Nonfarm, nonresidential loans - $100-250k 55 $5,783 $105,145
    Nonfarm, nonresidential loans - $250k-1MM 72 $24,627 $342,042
    Commercial & Industrial, US addressed loans - <$1MM 298 $16,164 $54,242
    Commercial & Industrial, US addressed loans - <$100k 217 $3,953 $18,217
    Commercial & Industrial, US addressed loans - $100-250k 47 $3,859 $82,106
    Commercial & Industrial, US addressed loans - $250k-1MM 34 $8,352 $245,647
    Farmland loans - <$1MM 53 $8,244 $155,547
    Farmland loans - <$100k 23 $1,049 $45,609
    Farmland loans - $100-250k 16 $2,010 $125,625
    Farmland loans - $250k-1MM 14 $5,185 $370,357
    Agriculture operations loans - <$1MM 18 $1,732 $96,222
    Agriculture operations loans - <$100k 15 $964 $64,267
    Agriculture operations loans - $100-250k 1 $87 $87,000
    Agriculture operations loans - $250k-1MM 2 $681 $340,500