Reliant Community Federal Credit Union Mortgage Rates, Fees & Info

Sodus, NY

LEI: 549300E3VF26P7719Z56

Tax ID: 23-7107645

5 stars - Updated: 12/16/24 - out of 5 stars, based on 26 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Reliant Community Federal Credit Union is a smaller credit union specializing in Refi, Other, and Home Purchase loans. Reliant Community Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Auburn, Syracuse, Seneca Falls, and Buffalo among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Reliant Community Federal Credit Union 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. Reliant Community Federal Credit Union 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 6.74% 12/16/24
    30 Year Conventional Refi 6.83% 12/16/24
    30 Year Cash-out Refi 7.02% 12/16/24
    15 Year Conventional Purchase 6.32% 12/16/24
    15 Year Conventional Refi 6.06% 12/16/24
    15 Year Cash-out Refi 6.06% 12/16/24
    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.

    Reliant Community Federal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Reliant Community Federal Credit Union. 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

    658

    Origination Dollar Volume (All Markets)

    $55,670,000

    Awards

    RELIANT COMMUNITY FEDERAL CREDIT UNION 30 Year Conventional Loans gold RELIANT COMMUNITY FEDERAL CREDIT UNION 30 Year Conventional Loans silver RELIANT COMMUNITY FEDERAL CREDIT UNION 30 Year Conventional Loans silver RELIANT COMMUNITY FEDERAL CREDIT UNION 30 Year Conventional Loans bronze
    Show all (4) awards

    Relative Rate

    Reliant Community Federal Credit Union's average 30 year fixed mortgage rate was 6.21%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.27%.

    Relative Fees (Closing Costs)

    Reliant Community Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,230.

    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 $9,089.

    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
    ROCHESTER, NY (FHA|USDA|VA) 626 $52,810,000 $84,361 $856 4.99%
    Auburn, NY (FHA|USDA|VA) 10 $980,000 $98,000 $517 4.12%
    SYRACUSE, NY (FHA|USDA|VA) 5 $435,000 $87,000 $2,050 3.91%
    Seneca Falls, NY (FHA|USDA|VA) 7 $425,000 $60,714 $657 5.05%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 2 $380,000 $190,000 $3,420 6.33%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $235,000 $235,000 $3,036 6.25%
    Outside of Metro Areas 2 $160,000 $80,000 $0 3.40%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 2 $120,000 $60,000 $0 3.45%
    Corning, NY (FHA|USDA|VA) 2 $70,000 $35,000 $0 7.12%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.29%
    Reliant Community Federal Credit Union's top markets include Rochester, Auburn, Syracuse, Seneca Falls, and Buffalo among others.

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

    • Similar Lenders

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

    Pittsford Federal Credit Union
    Similarity Rank: 34
    RELIANT COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 90
    Evans Bank
    Similarity Rank: 144
    FAMILY FIRST OF NY
    Similarity Rank: 182
    THE SUMMIT Federal Credit Union
    Similarity Rank: 225
    ESL Federal Credit Union
    Similarity Rank: 240
    Tompkins Trust Company
    Similarity Rank: 480
    Five Star Bank
    Similarity Rank: 493
    The Lyons National Bank
    Similarity Rank: 589
    1ST PRIORITY MORTGAGE, INC.
    Similarity Rank: 1219

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 488 $40,950,000 $83,914 $865 6.71%
    HELOC 170 $14,720,000 $86,588 n/a 0.00%

    For 2023, Reliant Community Federal Credit Union's most frequently originated type of loan was Conventional, with 488 originations. Their 2nd most popular type was HELOC, with 170 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 220 $18,350,000 $83,409 $356 5.40%
    Other 186 $11,850,000 $63,710 $0 4.44%
    Home Improvement 136 $7,410,000 $54,485 $0 3.93%
    Home Purchase 103 $16,585,000 $161,019 $3,173 6.22%
    Cash Out Refi 13 $1,475,000 $113,462 $3,039 6.44%

    For 2023, Reliant Community Federal Credit Union's most frequently cited loan purpose was Refi, with 220 originations. The 2nd most popular reason was Other, with 186 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 201 $15,975,000 $79,478 $0 1.05%
    15 Year 163 $12,855,000 $78,865 $86 7.23%
    30 Year 122 $18,570,000 $152,213 $3,230 6.21%
    10 Year 109 $6,175,000 $56,651 $107 6.61%
    5 Year 60 $1,990,000 $33,167 $0 6.43%
    3 Year 2 $40,000 $20,000 $0 6.69%
    20 Year 1 $65,000 $65,000 $2,981 7.13%

    For 2023, Reliant Community Federal Credit Union's most frequently cited loan duration was Other, with 201 originations. The 2nd most popular length was 15 Year, with 163 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 416 $28,740,000 $69,087
    $1k-2k 42 $6,550,000 $155,952
    $2k-3k 13 $2,885,000 $221,923
    $3k-4k 5 $1,095,000 $219,000
    $4k-5k 3 $555,000 $185,000
    $5k+ 1 $255,000 $255,000

    Reliant Community Federal Credit Union's average total fees were $3,230, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 416 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 265 $20,845,000 $78,660
    <2.5% 173 $15,045,000 $86,965
    7-8% 137 $11,665,000 $85,146
    5-6% 81 $7,795,000 $96,235
    4-5% 1 $255,000 $255,000
    Over 8% 1 $65,000 $65,000

    During 2023, Reliant Community Federal Credit Union's average interest rate for loans was 6.21%, while their most frequently originated rate bucket for loans was 6-7%, with 265 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 467 $23,545,000 $50,418 $276 4.92%
    $100k-200k 141 $19,245,000 $136,489 $1,876 5.34%
    $200k-400k 48 $11,910,000 $248,125 $3,526 4.34%
    $400k-600k 2 $970,000 $485,000 $3,793 6.69%

    2023 saw Reliant Community Federal Credit Union place emphasis on $100,000 or less loans with 467 originations, totaling $23,545,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 178 $12,630,000 $70,955 $969 5.39%
    $100k-150k 155 $14,455,000 $93,258 $691 5.07%
    $75k-100k 133 $10,865,000 $81,692 $680 4.87%
    $50k or less 88 $5,380,000 $61,136 $1,310 5.15%
    $150k-250k 73 $8,155,000 $111,712 $607 4.18%
    $250k+ 12 $2,460,000 $205,000 $1,440 2.14%

    Reliant Community Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 178 originations. The second most popular income band? $100k-150k, with 155 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 157 $11,045,000 $70,350 $487 4.69%
    30-36% 132 $11,010,000 $83,409 $932 4.86%
    <20% 54 $3,550,000 $65,741 $668 4.55%
    37% 35 $2,685,000 $76,714 $259 5.01%
    38% 33 $2,285,000 $69,242 $532 4.95%
    41% 33 $4,325,000 $131,061 $1,907 4.84%
    36% 28 $2,460,000 $87,857 $1,159 4.38%
    43% 25 $2,285,000 $91,400 $1,692 4.23%
    39% 24 $2,250,000 $93,750 $669 5.85%
    40% 24 $2,290,000 $95,417 $865 4.75%
    42% 22 $1,800,000 $81,818 $969 5.80%
    45% 15 $1,125,000 $75,000 $1,180 5.48%
    44% 14 $1,110,000 $79,286 $756 5.65%
    50-60% 13 $1,485,000 $114,231 $1,209 5.44%
    49% 10 $1,520,000 $152,000 $2,208 6.10%
    46% 10 $1,590,000 $159,000 $1,940 6.76%
    >60% 9 $745,000 $82,778 $411 5.42%
    47% 7 $715,000 $102,143 $412 5.87%
    48% 6 $600,000 $100,000 $715 6.65%

    Reliant Community Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 157 originations. The next most common DTI ratio? 30-36%, with 132 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 612 $51,980,000 $84,935 $836 4.91%
    Black 19 $1,005,000 $52,895 $848 5.55%
    Not applicable 8 $900,000 $112,500 $2,791 6.80%
    Not provided 10 $800,000 $80,000 $1,215 4.65%
    Asian 4 $690,000 $172,500 $2,587 6.60%
    American Indian 4 $230,000 $57,500 $1,457 6.65%
    Native Hawaiian or Islander 1 $65,000 $65,000 $0 6.14%

    Approval Rates

    Total approvals of all applications
    78.39%

    Reliant Community Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    87.23%

    Reliant Community Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 658 $55,670,000 $84,605

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    658 $55,670,000 $84,605

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 254 $16,700,000 $65,748 $98 4.51%
    40-60% 91 $10,115,000 $111,154 $751 4.87%
    60-80% 71 $9,585,000 $135,000 $2,466 5.37%
    80-100% 87 $13,745,000 $157,989 $2,859 5.82%
    Under 20% 155 $5,525,000 $35,645 $0 5.13%