Reliance Savings Bank Mortgage Rates, Fees & Info
Altoona, PALEI: 25490073NY7HKXVMGG76
Tax ID: 23-1012663
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Mortgage Data
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: Altoona, State College, Johnstown, Huntingdon, and Pittsburgh among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Reliance Savings Bank has an above 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.51% | 4/28/24 |
| 30 Year Conventional Refi | 6.19% | 4/28/24 |
| 30 Year Cash-out Refi | 6.47% | 4/28/24 |
| 15 Year Conventional Purchase | 5.50% | 4/28/24 |
| 15 Year Conventional Refi | 5.36% | 4/28/24 |
| 15 Year Cash-out Refi | 5.36% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
489Origination Dollar Volume (All Markets)
$75,935,000Awards
Reliance Savings Bank - 2022
Reliance Savings Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| ALTOONA, PA (FHA|USDA|VA) | 282 | $37,130,000 | $131,667 | $1,794 | 3.94% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 103 | $19,675,000 | $191,019 | $2,028 | 4.06% |
| Outside of Metro Areas | 22 | $4,940,000 | $224,545 | $2,904 | 4.74% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 21 | $3,955,000 | $188,333 | $2,967 | 4.28% |
| Huntingdon, PA (FHA|USDA|VA) | 19 | $3,095,000 | $162,895 | $2,192 | 3.82% |
| PITTSBURGH, PA (FHA|USDA|VA) | 7 | $2,375,000 | $339,286 | $2,158 | 3.62% |
| DuBois, PA (FHA|USDA|VA) | 19 | $1,885,000 | $99,211 | $1,903 | 4.60% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $9,239 | 3.63% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 4.15% |
| Indiana, PA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $4,430 | 5.38% |
| Lock Haven, PA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,022 | 3.31% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,443 | 4.50% |
| Lewistown, PA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,160 | 4.50% |
| Somerset, PA (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $410 | 2.84% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $115,000 | $38,333 | $359 | 3.57% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $180 | 2.43% |
| St. Marys, PA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $180 | 2.43% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 489 | $75,935,000 | $155,286 | $2,005 | 4.02% |
For 2022, Reliance Savings Bank's most frequently originated type of loan was Conventional, with 489 originations.
Loan Reason
For 2022, Reliance Savings Bank's most frequently cited loan purpose was Home Purchase, with 165 originations. The 2nd most popular reason was Refi, with 153 originations.
Loan Duration/Length
For 2022, Reliance Savings Bank's most frequently cited loan duration was 10 Year, with 134 originations. The 2nd most popular length was 30 Year, with 103 originations.
Origination Fees/Closing Costs
Reliance Savings Bank's average total fees were $4,293, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 332 originations.
Interest Rates
During 2022, Reliance Savings Bank's average interest rate for loans was 4.71%, while their most frequently originated rate bucket for loans was 3-4%, with 155 originations.
Loan Sizing
2022 saw Reliance Savings Bank place emphasis on $100,000 or less loans with 245 originations, totaling $12,555,000 in origination value.
Applicant Income
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-75k, with 100 originations.
Applicant Debt to Income Ratio
Reliance Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 127 originations. The next most common DTI ratio? 30-36%, with 78 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.02%
Reliance Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.75%
Reliance Savings Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 640.0 | 1 | $105,000 | $105,000 |
| NA | 488 | $75,830,000 | $155,389 |