Republic Bank Mortgage Rates, Fees & Info

Philadelphia, PA

LEI: 549300JNTZTF40KCOF79

Tax ID: 23-2479933

5 stars - Updated: 11/17/24 - out of 5 stars, based on 18 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

    Republic Bank is a smaller bank specializing in Home Purchase and Refi loans. Republic Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Philadelphia, New York, Atlantic City, Ocean City, and The Villages among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Republic Bank has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Republic 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 7.02% 11/17/24
    30 Year Conventional Purchase 5.16% 11/17/24
    30 Year Conventional Refi 5.94% 11/17/24
    30 Year Cash-out Refi 5.94% 11/17/24
    30 Year FHA Purchase 7.36% 11/17/24
    30 Year FHA Refi 7.03% 11/17/24
    30 Year VA Purchase 6.31% 11/17/24
    30 Year USDA Purchase 5.97% 11/17/24
    15 Year Conventional Purchase 6.07% 11/17/24
    15 Year Conventional Refi 5.77% 11/17/24
    15 Year Cash-out Refi 5.77% 11/17/24
    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.

    Republic Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Republic 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

    325

    Origination Dollar Volume (All Markets)

    $92,245,000
    Show all (6) awards

    Relative Rate

    Republic Bank's average 30 year fixed mortgage rate was 5.86%.

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

    This yields a difference of -0.62%.

    Relative Fees (Closing Costs)

    Republic Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,702.

    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
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 257 $60,325,000 $234,728 $1,884 6.19%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 11 $19,585,000 $1,780,455 $3,855 6.02%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 35 $5,835,000 $166,714 $2,377 5.55%
    OCEAN CITY, NJ (FHA|USDA|VA) 18 $5,760,000 $320,000 $3,249 6.50%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $455,000 $455,000 $14,337 5.75%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 2 $160,000 $80,000 $5 6.63%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $125,000 $125,000 $3,743 3.00%
    Republic Bank's top markets include Philadelphia, New York, Atlantic City, Ocean City, and The Villages among others.

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

    • Similar Lenders

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

    Republic Bank
    Similarity Rank: 35
    N C P D Federal Credit Union
    Similarity Rank: 126
    County Savings Bank
    Similarity Rank: 135
    The First National Bank of Long Island
    Similarity Rank: 158
    GREATER ALLIANCE
    Similarity Rank: 168
    Blue Foundry Bank
    Similarity Rank: 188
    PCSB Bank
    Similarity Rank: 207
    American Broadcast Employees Federal Credit Union
    Similarity Rank: 209
    LYONS MORTGAGE SERVICES, INC.
    Similarity Rank: 267
    Columbia Bank
    Similarity Rank: 312

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 246 $77,170,000 $313,699 $1,824 5.47%
    HELOC 68 $12,290,000 $180,735 n/a 8.56%
    FHA 9 $2,325,000 $258,333 $7,752 5.60%
    VA 1 $315,000 $315,000 $11,808 7.13%
    USDA 1 $145,000 $145,000 $5,795 6.25%

    For 2023, Republic Bank's most frequently originated type of loan was Conventional, with 246 originations. Their 2nd most popular type was HELOC, with 68 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 143 $55,285,000 $386,608 $3,686 4.96%
    Home Improvement 102 $13,450,000 $131,863 $24 6.94%
    Refi 42 $18,940,000 $450,952 $310 7.05%
    Other 34 $3,960,000 $116,471 $5 7.52%
    Cash Out Refi 4 $610,000 $152,500 $3,216 5.41%

    For 2023, Republic Bank's most frequently cited loan purpose was Home Purchase, with 143 originations. The 2nd most popular reason was Home Improvement, with 102 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 191 $41,685,000 $218,246 $3,702 5.86%
    15 Year 55 $5,085,000 $92,455 $16 6.75%
    10 Year 31 $1,885,000 $60,806 $22 4.93%
    5 Year 28 $35,350,000 $1,262,500 $5 6.72%
    20 Year 11 $4,205,000 $382,273 $0 8.56%
    Other 8 $3,860,000 $482,500 $5 7.06%
    1 Year 1 $175,000 $175,000 $0 8.50%

    For 2023, Republic Bank's most frequently cited loan duration was 30 Year, with 191 originations. The 2nd most popular length was 15 Year, with 55 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 193 $28,385,000 $147,073
    $1k-2k 36 $9,080,000 $252,222
    $2k-3k 4 $1,890,000 $472,500
    $5k+ 3 $1,325,000 $441,667
    $3k-4k 1 $355,000 $355,000
    $4k-5k 1 $405,000 $405,000

    Republic Bank's average total fees were $3,702, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 193 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 85 $16,315,000 $191,941
    4-5% 58 $12,810,000 $220,862
    Over 8% 57 $28,275,000 $496,053
    7-8% 40 $16,970,000 $424,250
    2.5-3% 39 $6,075,000 $155,769
    5-6% 30 $6,890,000 $229,667
    3-4% 16 $4,910,000 $306,875

    During 2023, Republic Bank's average interest rate for loans was 5.86%, while their most frequently originated rate bucket for loans was 6-7%, with 85 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 114 $29,360,000 $257,544 $3,274 5.29%
    $100,000 or less 113 $5,925,000 $52,434 $82 6.75%
    $100k-200k 69 $10,055,000 $145,725 $2,105 6.21%
    $600k-1MM 11 $7,955,000 $723,182 $9,141 6.71%
    $400k-600k 10 $4,610,000 $461,000 $7,729 6.13%
    $1MM+ 8 $34,340,000 $4,292,500 $0 7.58%

    2023 saw Republic Bank place emphasis on $200k-400k loans with 114 originations, totaling $29,360,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 75 $13,515,000 $180,200 $2,246 4.87%
    $100k-150k 53 $8,055,000 $151,981 $1,990 6.78%
    $150k-250k 53 $8,825,000 $166,509 $1,952 7.15%
    $75k-100k 52 $8,660,000 $166,538 $2,632 5.85%
    $250k+ 38 $10,780,000 $283,684 $735 7.46%
    $50k or less 35 $4,475,000 $127,857 $2,083 4.62%

    Republic Bank lent most frequently to those with incomes in the $50k-75k range, with 75 originations. The second most popular income band? $100k-150k, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 70 $11,410,000 $163,000 $1,486 6.48%
    30-36% 60 $9,280,000 $154,667 $1,733 6.25%
    42% 29 $4,685,000 $161,552 $1,314 6.72%
    <20% 23 $2,625,000 $114,130 $695 5.86%
    40% 14 $3,120,000 $222,857 $3,184 5.00%
    38% 12 $2,800,000 $233,333 $2,781 6.55%
    37% 12 $1,590,000 $132,500 $1,089 5.76%
    39% 12 $2,180,000 $181,667 $2,137 6.39%
    36% 12 $2,560,000 $213,333 $1,394 6.81%
    41% 11 $1,795,000 $163,182 $1,333 6.30%
    44% 10 $2,410,000 $241,000 $3,765 4.78%
    43% 10 $2,100,000 $210,000 $3,596 5.09%
    48% 8 $2,150,000 $268,750 $6,575 4.98%
    47% 7 $1,495,000 $213,571 $2,440 4.36%
    46% 6 $1,630,000 $271,667 $4,505 5.35%
    49% 4 $850,000 $212,500 $3,615 3.75%
    45% 3 $715,000 $238,333 $3,810 3.67%
    >60% 1 $55,000 $55,000 $0 9.50%

    Republic Bank lent most frequently to those with DTI ratios of 20-30%, with 70 originations. The next most common DTI ratio? 30-36%, with 60 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 244 $42,990,000 $176,189 $2,140 6.25%
    Not applicable 18 $37,830,000 $2,101,667 $0 7.30%
    Black 27 $4,895,000 $181,296 $2,284 4.33%
    Not provided 25 $4,215,000 $168,600 $1,056 6.08%
    Asian 9 $1,945,000 $216,111 $3,163 5.74%
    Native Hawaiian or Islander 1 $345,000 $345,000 $5,148 7.00%
    American Indian 1 $25,000 $25,000 $5 6.25%

    Approval Rates

    Total approvals of all applications
    58.76%

    Republic Bank has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    70.15%

    Republic Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 325 $92,245,000 $283,831

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    325 $92,245,000 $283,831

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 63 $9,355,000 $148,492 $627 7.13%
    40-60% 27 $32,325,000 $1,197,222 $2,593 6.59%
    60-80% 37 $18,605,000 $502,838 $4,162 6.40%
    80-100% 103 $25,625,000 $248,786 $3,421 4.57%
    Under 20% 95 $6,335,000 $66,684 $81 6.91%