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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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)

    • 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.

    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% 12/4/24
    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

    489

    Origination Dollar Volume (All Markets)

    $75,935,000

    Awards

    Reliance Savings Bank 30 Year Conventional Loans bronze Reliance Savings Bank 30 Year Conventional Loans gold
    Show all (2) 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
    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%
    Reliance Savings Bank's top markets include Altoona, State College, Johnstown, Huntingdon, and Pittsburgh among others.

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

    AmeriServ Financial Bank
    Similarity Rank: 429
    Reliance Savings Bank
    Similarity Rank: 476
    Kish Bank
    Similarity Rank: 504
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 570
    First Commonwealth Bank
    Similarity Rank: 588
    CNB Bank
    Similarity Rank: 756
    UNION HOME MORTGAGE CORP.
    Similarity Rank: 1126
    NORWICH COMMERCIAL GROUP, INC.
    Similarity Rank: 3168
    ARC HOME LLC
    Similarity Rank: 3192
    U.S. Bank
    Similarity Rank: 3404

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 165 $37,845,000 $229,364 $4,333 4.77%
    Refi 153 $23,875,000 $156,046 $1,094 3.64%
    Home Improvement 110 $8,300,000 $75,455 $461 3.70%
    Other 44 $3,000,000 $68,182 $558 3.61%
    Cash Out Refi 17 $2,915,000 $171,471 $4,659 3.40%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 134 $10,070,000 $75,149 $344 3.13%
    30 Year 103 $22,385,000 $217,330 $4,293 4.71%
    20 Year 101 $14,175,000 $140,347 $938 4.49%
    15 Year 87 $13,605,000 $156,379 $1,846 3.59%
    30+ year 34 $13,560,000 $398,824 $5,283 5.15%
    5 Year 19 $565,000 $29,737 $321 3.82%
    Other 10 $1,560,000 $156,000 $1,347 4.74%
    3 Year 1 $15,000 $15,000 $165 3.24%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 332 $37,160,000 $111,928
    $1k-2k 65 $18,625,000 $286,538
    $2k-3k 20 $6,670,000 $333,500
    $5k+ 6 $2,090,000 $348,333
    $3k-4k 5 $1,665,000 $333,000
    $4k-5k 4 $980,000 $245,000

    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

    Loan Rate Originations Total Value Average Loan
    3-4% 155 $19,575,000 $126,290
    4-5% 121 $23,025,000 $190,289
    5-6% 78 $16,230,000 $208,077
    <2.5% 76 $8,460,000 $111,316
    2.5-3% 39 $5,395,000 $138,333
    6-7% 20 $3,250,000 $162,500

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 245 $12,555,000 $51,245 $608 3.75%
    $100k-200k 115 $15,845,000 $137,783 $2,269 4.20%
    $200k-400k 93 $26,915,000 $289,409 $4,058 4.43%
    $400k-600k 28 $13,260,000 $473,571 $5,167 4.19%
    $600k-1MM 6 $4,250,000 $708,333 $5,999 4.73%
    $1MM+ 2 $3,110,000 $1,555,000 $6,445 3.81%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 105 $19,035,000 $181,286 $2,278 3.99%
    $50k-75k 100 $9,370,000 $93,700 $1,730 4.11%
    $75k-100k 83 $11,365,000 $136,928 $1,951 4.13%
    $150k-250k 64 $14,160,000 $221,250 $3,072 3.98%
    $50k or less 63 $4,625,000 $73,413 $1,265 3.94%
    $250k+ 38 $12,920,000 $340,000 $2,211 3.45%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 127 $16,755,000 $131,929 $1,779 3.69%
    30-36% 78 $12,070,000 $154,744 $2,049 4.16%
    <20% 62 $7,380,000 $119,032 $1,480 3.59%
    37% 18 $3,600,000 $200,000 $2,855 4.27%
    42% 15 $2,845,000 $189,667 $3,683 3.97%
    36% 15 $2,245,000 $149,667 $2,320 4.03%
    39% 15 $3,425,000 $228,333 $3,218 4.29%
    40% 15 $2,415,000 $161,000 $1,394 4.44%
    38% 13 $1,395,000 $107,308 $1,915 3.72%
    44% 13 $2,415,000 $185,769 $2,308 4.52%
    49% 12 $2,140,000 $178,333 $2,773 4.38%
    43% 12 $1,040,000 $86,667 $1,359 3.86%
    >60% 12 $3,600,000 $300,000 $2,435 3.86%
    50-60% 12 $2,480,000 $206,667 $1,101 3.88%
    41% 10 $1,190,000 $119,000 $1,440 3.75%
    47% 7 $1,675,000 $239,286 $4,038 4.28%
    45% 5 $845,000 $169,000 $1,278 3.54%
    48% 4 $1,350,000 $337,500 $4,048 5.62%
    46% 3 $205,000 $68,333 $214 3.24%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 453 $70,205,000 $154,978 $1,993 3.97%
    Not applicable 20 $3,160,000 $158,000 $0 5.10%
    Not provided 9 $1,655,000 $183,889 $2,638 3.91%
    Black 4 $400,000 $100,000 $2,285 4.67%
    Asian Indian 1 $375,000 $375,000 $4,632 4.13%
    Asian 2 $140,000 $70,000 $290 4.37%

    Approval Rates

    Total approvals of all applications
    94.02%

    Reliance Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.75%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    489 $75,935,000 $155,286

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 86 $6,610,000 $76,860 $508 3.72%
    40-60% 54 $9,380,000 $173,704 $1,280 3.70%
    60-80% 101 $20,445,000 $202,426 $3,493 4.25%
    80-100% 132 $34,290,000 $259,773 $3,947 4.64%
    Over 100% 1 $535,000 $535,000 $6,348 3.75%
    Under 20% 115 $4,675,000 $40,652 $342 3.50%