Republic Bank Mortgage Rates, Fees & InfoPhiladelphia, PA
Tax ID: 23-2479933
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewRepublic Bank is a smaller bank specializing in 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: Ocean City, Philadelphia, New York, Atlantic City, and Trenton among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)
Republic 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. Republic Bank is typically an average 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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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||7.02%||3/27/23|
|30 Year Conventional Purchase||5.16%||3/27/23|
|30 Year Conventional Refi||5.94%||3/27/23|
|30 Year Cash-out Refi||5.94%||3/27/23|
|30 Year FHA Purchase||7.36%||3/27/23|
|30 Year FHA Refi||7.03%||3/27/23|
|30 Year VA Purchase||6.31%||3/27/23|
|30 Year USDA Purchase||5.97%||3/27/23|
|15 Year Conventional Purchase||6.07%||3/27/23|
|15 Year Conventional Refi||5.77%||3/27/23|
|15 Year Cash-out Refi||5.77%||3/27/23|
|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.|
Origination Dollar Volume (All Markets)$758,075,000
Republic Bank's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.61%.
Relative Fees (Closing Costs)
Republic Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,472.
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.
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|
|OCEAN CITY, NJ (FHA|USDA|VA)||288||$283,080,000||$982,917||$5,633||3.75%|
|Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA)||779||$245,665,000||$315,359||$3,669||4.49%|
|New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)||160||$154,290,000||$964,313||$5,727||4.12%|
|ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA)||102||$37,420,000||$366,863||$4,016||4.10%|
|TRENTON-PRINCETON, NJ (FHA|USDA|VA)||18||$11,750,000||$652,778||$4,255||3.44%|
|Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)||4||$5,810,000||$1,452,500||$8,705||3.84%|
|Key West, FL (FHA|USDA|VA)||2||$3,450,000||$1,725,000||$4,656||3.19%|
|SALISBURY, MD-DE (FHA|USDA|VA)||2||$2,490,000||$1,245,000||$6,136||3.56%|
|VINELAND-BRIDGETON, NJ (FHA|USDA|VA)||11||$2,215,000||$201,364||$4,411||5.22%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||3||$1,915,000||$638,333||$8,969||3.50%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||3||$1,545,000||$515,000||$5,608||3.79%|
|CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA)||2||$1,370,000||$685,000||$4,808||4.57%|
|NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA)||1||$1,325,000||$1,325,000||$8,178||4.38%|
|PORT ST. LUCIE, FL (FHA|USDA|VA)||2||$1,050,000||$525,000||$11,257||4.69%|
|MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA)||2||$980,000||$490,000||$4,858||3.25%|
|ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA)||2||$740,000||$370,000||$12,002||5.25%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||1||$725,000||$725,000||$3,392||2.88%|
|PITTSBURGH, PA (FHA|USDA|VA)||1||$605,000||$605,000||$5,530||3.13%|
|JACKSONVILLE, FL (FHA|USDA|VA)||1||$555,000||$555,000||$5,892||3.13%|
|HARRISBURG-CARLISLE, PA (FHA|USDA|VA)||1||$365,000||$365,000||$5,234||6.13%|
|YORK-HANOVER, PA (FHA|USDA|VA)||1||$235,000||$235,000||$3,787||3.00%|
|WILLIAMSPORT, PA (FHA|USDA|VA)||1||$185,000||$185,000||$4,909||5.63%|
|LANCASTER, PA (FHA|USDA|VA)||1||$155,000||$155,000||$3,935||5.13%|
|READING, PA (FHA|USDA|VA)||1||$155,000||$155,000||$0||3.50%|
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.
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For 2022, Republic Bank's most frequently originated type of loan was Conventional, with 1,115 originations. Their 2nd most popular type was HELOC, with 224 originations.
For 2022, Republic Bank's most frequently cited loan purpose was Home Purchase, with 840 originations. The 2nd most popular reason was Home Improvement, with 219 originations.
For 2022, Republic Bank's most frequently cited loan duration was 30 Year, with 1,049 originations. The 2nd most popular length was 15 Year, with 150 originations.
Origination Fees/Closing Costs
Republic Bank's average total fees were $5,472, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 624 originations.
During 2022, Republic Bank's average interest rate for loans was 4.15%, while their most frequently originated rate bucket for loans was 3-4%, with 542 originations.
2022 saw Republic Bank place emphasis on $200k-400k loans with 372 originations, totaling $102,740,000 in origination value.
Republic Bank lent most frequently to those with incomes in the $250k+ range, with 465 originations. The second most popular income band? $150k-250k, with 285 originations.
Applicant Debt to Income Ratio
Republic Bank lent most frequently to those with DTI ratios of 20-30%, with 316 originations. The next most common DTI ratio? 30-36%, with 269 originations.
Approval RatesTotal approvals of all applications
Republic Bank has a below average approval rate.
Pick RateApprovals leading to origination
Republic Bank has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|