Republic Bank Mortgage Rates, Fees & Info

Philadelphia, PA

LEI: 549300JNTZTF40KCOF79

Tax ID: 23-2479933

5 stars - out of 5 stars, based on 37 reviews

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

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Mortgage Data

  • SimulatedRates™
  • 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 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.

    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
    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.


    Originations

    1,389

    Origination Dollar Volume (All Markets)

    $758,075,000
    Show all (7) awards

    Relative Rate

    Republic Bank's average 30 year fixed mortgage rate was 4.15%.

    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.

    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
    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%
    Republic Bank's top markets include Ocean City, Philadelphia, New York, Atlantic City, and Trenton among others.

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

    N C P D Federal Credit Union
    Similarity Rank: 306
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 326
    Louviers Federal Credit Union
    Similarity Rank: 328
    Schuyler Savings Bank
    Similarity Rank: 352
    The First National Bank of Long Island
    Similarity Rank: 374
    KS StateBank
    Similarity Rank: 550
    The Atlantic Federal Credit Union
    Similarity Rank: 588
    U S WIDE FINANCIAL LLC
    Similarity Rank: 624
    BHCU
    Similarity Rank: 728
    FEDERATED LENDING CORPORATION
    Similarity Rank: 905

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,115 $707,385,000 $634,426 $4,303 4.06%
    HELOC 224 $37,370,000 $166,830 n/a 5.02%
    FHA 40 $10,740,000 $268,500 $8,540 4.80%
    VA 8 $2,250,000 $281,250 $8,620 4.55%
    USDA 2 $330,000 $165,000 $5,266 5.81%

    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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 840 $587,990,000 $699,988 $5,322 4.07%
    Home Improvement 219 $27,255,000 $124,452 $206 4.92%
    Refi 147 $72,835,000 $495,476 $2,623 4.19%
    Other 98 $18,590,000 $189,694 $1,399 4.80%
    Cash Out Refi 85 $51,405,000 $604,765 $5,484 3.68%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,049 $615,825,000 $587,059 $5,472 4.15%
    15 Year 150 $30,290,000 $201,933 $1,288 4.38%
    5 Year 77 $50,105,000 $650,714 $24 4.90%
    20 Year 46 $11,810,000 $256,739 $4,995 4.48%
    Other 32 $37,560,000 $1,173,750 $952 4.38%
    10 Year 31 $5,235,000 $168,871 $393 4.62%
    3 Year 2 $5,810,000 $2,905,000 $0 4.00%
    1 Year 2 $1,440,000 $720,000 $0 4.38%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 624 $470,950,000 $754,728
    $<1k 290 $59,270,000 $204,379
    $2k-3k 59 $18,815,000 $318,898
    $3k-4k 24 $10,330,000 $430,417
    $4k-5k 22 $11,110,000 $505,000
    $5k+ 22 $11,160,000 $507,273

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 542 $369,470,000 $681,679
    4-5% 277 $115,425,000 $416,697
    5-6% 244 $56,850,000 $232,992
    2.5-3% 211 $172,365,000 $816,896
    6-7% 82 $31,320,000 $381,951
    7-8% 27 $10,615,000 $393,148
    Over 8% 3 $1,205,000 $401,667
    <2.5% 3 $825,000 $275,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 372 $102,740,000 $276,183 $4,669 4.50%
    $600k-1MM 258 $194,010,000 $751,977 $5,315 3.52%
    $100k-200k 232 $32,760,000 $141,207 $2,590 4.44%
    $100,000 or less 228 $12,260,000 $53,772 $428 4.97%
    $1MM+ 214 $375,930,000 $1,756,682 $7,593 3.55%
    $400k-600k 85 $40,375,000 $475,000 $5,974 4.58%

    2022 saw Republic Bank place emphasis on $200k-400k loans with 372 originations, totaling $102,740,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 465 $441,975,000 $950,484 $5,976 3.81%
    $150k-250k 285 $106,195,000 $372,614 $4,088 4.35%
    $100k-150k 214 $50,240,000 $234,766 $4,074 4.77%
    $50k-75k 141 $25,535,000 $181,099 $2,946 4.06%
    $75k-100k 136 $26,860,000 $197,500 $3,874 4.55%
    $50k or less 68 $9,500,000 $139,706 $2,869 4.10%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 316 $160,990,000 $509,462 $4,119 4.14%
    30-36% 269 $145,165,000 $539,647 $4,505 4.14%
    <20% 126 $86,400,000 $685,714 $5,269 3.98%
    42% 89 $33,645,000 $378,034 $3,832 4.45%
    37% 64 $32,490,000 $507,656 $4,130 4.35%
    41% 57 $21,095,000 $370,088 $4,417 4.46%
    38% 56 $30,620,000 $546,786 $4,377 4.15%
    40% 55 $29,075,000 $528,636 $4,886 4.27%
    36% 55 $23,935,000 $435,182 $4,171 4.39%
    39% 52 $24,410,000 $469,423 $4,319 4.22%
    43% 39 $18,595,000 $476,795 $5,041 4.02%
    44% 23 $11,495,000 $499,783 $5,719 4.21%
    46% 22 $12,730,000 $578,636 $5,131 4.13%
    45% 21 $9,025,000 $429,762 $5,889 4.60%
    47% 19 $8,325,000 $438,158 $4,736 4.05%
    49% 19 $5,025,000 $264,474 $4,742 4.45%
    50-60% 13 $3,455,000 $265,769 $6,532 4.30%
    48% 11 $2,705,000 $245,909 $5,180 4.77%
    >60% 1 $65,000 $65,000 $5 3.64%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,151 $583,355,000 $506,825 $4,504 4.20%
    Not applicable 64 $94,930,000 $1,483,281 $0 4.97%
    Asian 61 $37,485,000 $614,508 $4,686 4.00%
    Not provided 52 $23,760,000 $456,923 $3,500 4.23%
    Black 50 $14,630,000 $292,600 $5,383 4.69%
    Asian Indian 5 $2,105,000 $421,000 $4,524 4.33%
    American Indian 5 $1,755,000 $351,000 $1,528 4.25%
    Filipino 1 $55,000 $55,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    79.57%

    Republic Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.36%

    Republic Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,389 $758,075,000 $545,770

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,389 $758,075,000 $545,770

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 175 $32,555,000 $186,029 $2,191 4.63%
    40-60% 179 $123,215,000 $688,352 $4,658 4.06%
    60-80% 410 $341,750,000 $833,537 $5,773 3.96%
    80-100% 400 $241,880,000 $604,700 $5,252 4.02%
    Over 100% 1 $225,000 $225,000 $9,333 3.25%
    Under 20% 224 $18,450,000 $82,366 $160 5.01%