Ameriserv Financial Bank Mortgage Rates, Fees & Info

Johnstown, PA

LEI: 54930089UXPZ6O3RHG71

Tax ID: 25-0851535

5 stars - Updated: 3/17/24 - out of 5 stars, based on 21 reviews

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

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Mortgage Data

Review & Overview

Ameriserv Financial Bank is a smaller bank specializing in Home Purchase and Refi loans. Ameriserv Financial Bank has a high proportion of conventional loans. Ameriserv Financial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Pittsburgh, State College, Johnstown, Philadelphia, and Somerset among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)

Ameriserv Financial 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. Ameriserv Financial 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 relatively high 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 6.25% 3/17/24
30 Year Conventional Refi 6.17% 3/17/24
30 Year Cash-out Refi 6.99% 3/17/24
30 Year FHA Purchase 6.27% 3/17/24
15 Year Conventional Purchase 6.48% 3/17/24
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.

Ameriserv Financial Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Ameriserv Financial 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

435

Origination Dollar Volume (All Markets)

$76,975,000
Show all (8) awards

Relative Rate

Ameriserv Financial Bank's average 30 year fixed mortgage rate was 5.19%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.43%.

Relative Fees (Closing Costs)

Ameriserv Financial Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,865.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

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
PITTSBURGH, PA (FHA|USDA|VA) 71 $20,045,000 $282,324 $3,966 5.04%
STATE COLLEGE, PA (FHA|USDA|VA) 43 $11,285,000 $262,442 $4,927 4.53%
JOHNSTOWN, PA (FHA|USDA|VA) 105 $11,035,000 $105,095 $3,525 5.23%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 64 $9,530,000 $148,906 $2,655 4.79%
Somerset, PA (FHA|USDA|VA) 36 $2,950,000 $81,944 $3,802 5.35%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $2,855,000 $2,855,000 $0 3.99%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $2,005,000 $2,005,000 $0 0.00%
ALTOONA, PA (FHA|USDA|VA) 12 $1,860,000 $155,000 $3,125 4.92%
ERIE, PA (FHA|USDA|VA) 6 $1,840,000 $306,667 $0 4.98%
Outside of Metro Areas 7 $1,495,000 $213,571 $2,853 4.65%
LANCASTER, PA (FHA|USDA|VA) 11 $1,465,000 $133,182 $0 0.00%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 7 $1,115,000 $159,286 $0 5.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 10 $1,110,000 $111,000 $0 0.00%
WILLIAMSPORT, PA (FHA|USDA|VA) 5 $1,085,000 $217,000 $3,582 4.41%
Indiana, PA (FHA|USDA|VA) 11 $1,055,000 $95,909 $3,441 5.00%
READING, PA (FHA|USDA|VA) 8 $840,000 $105,000 $3,955 5.12%
Huntingdon, PA (FHA|USDA|VA) 3 $765,000 $255,000 $5,568 4.48%
DuBois, PA (FHA|USDA|VA) 6 $730,000 $121,667 $4,058 4.96%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $670,000 $335,000 $0 0.00%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 4 $610,000 $152,500 $2,789 2.88%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 7 $515,000 $73,571 $0 0.00%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $325,000 $325,000 $5,424 6.63%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
Selinsgrove, PA (FHA|USDA|VA) 1 $215,000 $215,000 $3,725 5.00%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 2 $210,000 $105,000 $0 0.00%
Pottsville, PA (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
Lewisburg, PA (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
EAST STROUDSBURG, PA (FHA|USDA|VA) 3 $155,000 $51,667 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Meadville, PA (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
New Castle, PA (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Oil City, PA (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Ameriserv Financial Bank's top markets include Pittsburgh, State College, Johnstown, Philadelphia, and Somerset among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against AmeriServ Financial 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 330 $35,940,000 $108,909 $0 0.00%
    Conventional 105 $41,035,000 $390,810 $4,044 4.90%

    For 2022, Ameriserv Financial Bank's most frequently originated type of loan was Conventional, with 330 originations. Their 2nd most popular type was Conventional, with 105 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 154 $12,560,000 $81,558 $0 5.75%
    Home Purchase 114 $32,130,000 $281,842 $4,131 5.00%
    Refi 103 $26,395,000 $256,262 $3,357 4.74%
    Other 59 $4,805,000 $81,441 $0 0.00%
    Cash Out Refi 5 $1,085,000 $217,000 $3,211 3.45%

    For 2022, Ameriserv Financial Bank's most frequently cited loan purpose was Home Improvement, with 154 originations. The 2nd most popular reason was Home Purchase, with 114 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 331 $38,795,000 $117,205 $0 3.99%
    30 Year 49 $10,955,000 $223,571 $3,865 5.19%
    10 Year 34 $21,030,000 $618,529 $0 4.84%
    15 Year 7 $1,025,000 $146,429 $2,853 4.30%
    30+ year 6 $2,740,000 $456,667 $6,695 3.71%
    5 Year 5 $1,455,000 $291,000 $0 5.15%
    20 Year 2 $480,000 $240,000 $3,469 3.50%
    3 Year 1 $495,000 $495,000 $0 6.25%

    For 2022, Ameriserv Financial Bank's most frequently cited loan duration was Other, with 331 originations. The 2nd most popular length was 30 Year, with 49 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 44 $10,060,000 $228,636
    $1k-2k 13 $3,265,000 $251,154
    $2k-3k 5 $1,715,000 $343,000

    Ameriserv Financial Bank's average total fees were $3,865, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 44 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 31 $9,435,000 $304,355
    5-6% 31 $14,675,000 $473,387
    3-4% 19 $10,185,000 $536,053
    6-7% 17 $4,175,000 $245,588
    2.5-3% 6 $2,330,000 $388,333
    <2.5% 1 $235,000 $235,000

    During 2022, Ameriserv Financial Bank's average interest rate for loans was 5.19%, while their most frequently originated rate bucket for loans was 4-5%, with 31 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 205 $10,365,000 $50,561 $2,605 5.75%
    $100k-200k 129 $17,815,000 $138,101 $3,446 4.67%
    $200k-400k 72 $19,250,000 $267,361 $4,189 4.84%
    $400k-600k 13 $6,375,000 $490,385 $7,286 5.09%
    $1MM+ 9 $18,745,000 $2,082,778 $0 4.62%
    $600k-1MM 7 $4,425,000 $632,143 $6,901 4.29%

    2022 saw Ameriserv Financial Bank place emphasis on $100,000 or less loans with 205 originations, totaling $10,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 98 $15,710,000 $160,306 $5,159 4.81%
    $100k-150k 85 $9,815,000 $115,471 $4,077 4.85%
    $75k-100k 68 $6,670,000 $98,088 $3,846 4.68%
    $50k-75k 54 $5,160,000 $95,556 $3,570 4.64%
    $50k or less 36 $2,180,000 $60,556 $3,000 5.37%
    $250k+ 24 $7,930,000 $330,417 $4,705 4.94%

    Ameriserv Financial Bank lent most frequently to those with incomes in the $150k-250k range, with 98 originations. The second most popular income band? $100k-150k, with 85 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 330 $35,940,000 $108,909 $0 0.00%
    20-30% 17 $3,945,000 $232,059 $3,815 4.99%
    <20% 10 $1,750,000 $175,000 $3,655 5.24%
    30-36% 10 $2,370,000 $237,000 $3,872 4.99%
    38% 4 $840,000 $210,000 $3,522 4.22%
    41% 3 $1,125,000 $375,000 $6,536 5.08%
    36% 3 $825,000 $275,000 $3,887 4.75%
    40% 3 $705,000 $235,000 $4,106 4.79%
    44% 2 $570,000 $285,000 $4,132 4.44%
    43% 2 $390,000 $195,000 $3,456 5.37%
    46% 2 $630,000 $315,000 $5,063 5.38%
    39% 1 $235,000 $235,000 $2,630 2.38%
    47% 1 $365,000 $365,000 $6,465 3.12%
    48% 1 $635,000 $635,000 $7,508 2.99%
    49% 1 $65,000 $65,000 $2,036 5.99%
    50-60% 1 $255,000 $255,000 $4,414 6.13%
    37% 1 $335,000 $335,000 $4,588 4.75%

    Ameriserv Financial Bank lent most frequently to those with DTI ratios of Exempt%, with 330 originations. The next most common DTI ratio? 20-30%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 357 $45,305,000 $126,905 $3,978 4.90%
    Not applicable 41 $26,745,000 $652,317 $0 4.91%
    Not provided 33 $3,715,000 $112,576 $0 0.00%
    Asian Indian 1 $615,000 $615,000 $0 0.00%
    Asian 2 $550,000 $275,000 $8,049 4.12%
    Black 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    83.33%

    Ameriserv Financial Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    88.74%

    Ameriserv Financial Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 330 $35,940,000 $108,909
    NA 105 $41,035,000 $390,810

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    435 $76,975,000 $176,954

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $105,000 $105,000 $3,352 2.99%
    40-60% 9 $2,795,000 $310,556 $4,276 4.58%
    60-80% 45 $16,025,000 $356,111 $4,244 4.73%
    80-100% 40 $16,820,000 $420,500 $3,824 5.18%
    Over 100% 8 $5,060,000 $632,500 $0 5.02%
    Under 20% 2 $230,000 $115,000 $0 4.88%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    American Financial Network Inc. FHA mortgage Trouble during payment process 1 100.0%