First Reliance Bank Mortgage Rates, Fees & Info
Florence, SCLEI: 549300SLZFPDLWNB0O94
Tax ID: 58-2463842
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
First Reliance Bank is a smaller bank specializing in Home Purchase loans. First Reliance Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Columbia, Greenville, Charlotte, Florence, and Charleston among others. We have data for 61 markets. (Some data included below & more in-depth data is available with an active subscription.)First Reliance Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First Reliance 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 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.55% | 4/28/24 |
| 30 Year Conventional Refi | 6.36% | 4/28/24 |
| 30 Year Cash-out Refi | 6.62% | 4/28/24 |
| 30 Year FHA Purchase | 7.10% | 4/28/24 |
| 30 Year FHA Refi | 6.85% | 4/28/24 |
| 30 Year VA Purchase | 6.15% | 4/28/24 |
| 30 Year USDA Purchase | 6.48% | 4/28/24 |
| 30 Year USDA Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 6.06% | 4/28/24 |
| 15 Year Conventional Refi | 6.09% | 4/28/24 |
| 15 Year Cash-out Refi | 6.09% | 4/28/24 |
| 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. | ||
First Reliance Bank Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from First Reliance 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
1,082Origination Dollar Volume (All Markets)
$299,560,000Awards
First Reliance Bank - 2022
First Reliance Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
Work for First Reliance Bank?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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 |
|---|---|---|---|---|---|
| COLUMBIA, SC (FHA|USDA|VA) | 173 | $49,995,000 | $288,988 | $4,608 | 4.71% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 184 | $45,610,000 | $247,880 | $3,738 | 4.63% |
| Outside of Metro Areas | 158 | $33,770,000 | $213,734 | $4,657 | 4.68% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 52 | $33,290,000 | $640,192 | $5,187 | 4.42% |
| FLORENCE, SC (FHA|USDA|VA) | 147 | $27,085,000 | $184,252 | $4,247 | 4.84% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 54 | $27,020,000 | $500,370 | $4,224 | 4.29% |
| ROANOKE, VA (FHA|USDA|VA) | 55 | $15,805,000 | $287,364 | $3,470 | 4.57% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 42 | $10,730,000 | $255,476 | $5,278 | 4.66% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 15 | $5,805,000 | $387,000 | $3,681 | 5.13% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 23 | $5,105,000 | $221,957 | $3,426 | 5.03% |
| SPARTANBURG, SC (FHA|USDA|VA) | 20 | $4,870,000 | $243,500 | $4,085 | 4.46% |
| RICHMOND, VA (FHA|USDA|VA) | 17 | $4,695,000 | $276,176 | $3,615 | 4.60% |
| Mount Airy, NC (FHA|USDA|VA) | 18 | $3,070,000 | $170,556 | $4,430 | 4.28% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 6 | $2,660,000 | $443,333 | $5,767 | 4.98% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 7 | $2,645,000 | $377,857 | $3,611 | 4.57% |
| Seneca, SC (FHA|USDA|VA) | 8 | $2,640,000 | $330,000 | $7,380 | 4.83% |
| Georgetown, SC (FHA|USDA|VA) | 6 | $2,620,000 | $436,667 | $3,888 | 5.19% |
| Cullowhee, NC (FHA|USDA|VA) | 7 | $2,435,000 | $347,857 | $8,008 | 5.84% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 9 | $1,445,000 | $160,556 | $4,671 | 5.15% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 6 | $1,420,000 | $236,667 | $6,950 | 5.04% |
| ASHEVILLE, NC (FHA|USDA|VA) | 4 | $1,290,000 | $322,500 | $3,263 | 3.78% |
| SUMTER, SC (FHA|USDA|VA) | 7 | $1,235,000 | $176,429 | $3,480 | 5.35% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $3,612 | 5.41% |
| LYNCHBURG, VA (FHA|USDA|VA) | 6 | $1,120,000 | $186,667 | $3,911 | 5.08% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 4.75% |
| North Wilkesboro, NC (FHA|USDA|VA) | 4 | $920,000 | $230,000 | $5,314 | 4.50% |
| Henderson, NC (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $3,648 | 3.75% |
| Gaffney, SC (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $3,288 | 4.31% |
| Newberry, SC (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $5,184 | 3.88% |
| Albemarle, NC (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $4,617 | 3.19% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $3,346 | 3.13% |
| Thomasville, GA (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $3,702 | 5.63% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $5,926 | 4.13% |
| Boone, NC (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,621 | 7.25% |
| HARRISONBURG, VA (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $2,315 | 4.81% |
| Bluefield, WV-VA (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $3,140 | 6.54% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $5,179 | 5.88% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $3,059 | 5.71% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $7,459 | 5.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,322 | 5.38% |
| Dublin, GA (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $3,860 | 3.75% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,332 | 5.50% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,355 | 2.75% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,830 | 5.25% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,795 | 5.63% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,886 | 4.25% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,254 | 4.25% |
| Orangeburg, SC (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $4,347 | 6.31% |
| Shelby, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,298 | 6.13% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,900 | 6.63% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,037 | 5.88% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 6.00% |
| MORRISTOWN, TN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,187 | 5.50% |
| Big Stone Gap, VA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,842 | 5.50% |
| DOTHAN, AL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,895 | 3.88% |
| Bennettsville, SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,147 | 4.25% |
| Danville, VA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,473 | 4.88% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,231 | 5.00% |
| Forest City, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,921 | 5.50% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,588 | 5.88% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,597 | 4.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against First Reliance Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 16
Similarity Rank: 146
Similarity Rank: 160
Similarity Rank: 316
Similarity Rank: 420
Similarity Rank: 440
Similarity Rank: 444
Similarity Rank: 480
Similarity Rank: 552
Similarity Rank: 588
Product Mix
For 2022, First Reliance Bank's most frequently originated type of loan was Conventional, with 1,027 originations. Their 2nd most popular type was USDA, with 23 originations.
Loan Reason
For 2022, First Reliance Bank's most frequently cited loan purpose was Home Purchase, with 750 originations. The 2nd most popular reason was Cash Out Refi, with 164 originations.
Loan Duration/Length
For 2022, First Reliance Bank's most frequently cited loan duration was 30 Year, with 803 originations. The 2nd most popular length was 15 Year, with 99 originations.
Origination Fees/Closing Costs
First Reliance Bank's average total fees were $4,421, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 503 originations.
Interest Rates
During 2022, First Reliance Bank's average interest rate for loans was 4.80%, while their most frequently originated rate bucket for loans was 3-4%, with 321 originations.
Loan Sizing
2022 saw First Reliance Bank place emphasis on $200k-400k loans with 411 originations, totaling $114,705,000 in origination value.
Applicant Income
First Reliance Bank lent most frequently to those with incomes in the $50k-75k range, with 223 originations. The second most popular income band? $100k-150k, with 206 originations.
Applicant Debt to Income Ratio
First Reliance Bank lent most frequently to those with DTI ratios of 20-30%, with 237 originations. The next most common DTI ratio? 30-36%, with 196 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.73%
First Reliance Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.35%
First Reliance Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,082 | $299,560,000 | $276,858 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST CITIZENS BANCSHARES, INC. | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |