Alliance Credit Mortgage Rates, Fees & Info
CANFIELD, OHLEI: 549300WP8VNTI1UQLZ97
Tax ID: 76-0735903
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Mortgage Data
Review & Overview
Alliance Credit is a smaller mortgage company specializing in Home Purchase loans. Alliance Credit has a high proportion of conventional loans. Their top markets by origination volume include: Pittsburgh, Huntington, Nashville, Meadville, and Philadelphia among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)Alliance Credit 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.
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Originations
84Origination Dollar Volume (All Markets)
$4,830,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 17 | $1,145,000 | $67,353 | $560 | 6.64% |
| PITTSBURGH, PA (FHA|USDA|VA) | 9 | $505,000 | $56,111 | $376 | 7.32% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 6 | $350,000 | $58,333 | $162 | 7.53% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $345,000 | $115,000 | $966 | 6.16% |
| Meadville, PA (FHA|USDA|VA) | 4 | $270,000 | $67,500 | $393 | 7.18% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $34 | 7.66% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $205 | 7.08% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $155 | 7.17% |
| LANCASTER, PA (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $243 | 6.65% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $157 | 7.50% |
| ERIE, PA (FHA|USDA|VA) | 4 | $100,000 | $25,000 | $246 | 7.56% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $372 | 6.50% |
| Zanesville, OH (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,500 | 6.50% |
| Salem, OH (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $247 | 7.49% |
| Maysville, KY (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $355 | 7.25% |
| Somerset, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $38 | 6.75% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $368 | 6.75% |
| London, KY (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $190 | 6.75% |
| New Castle, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $288 | 7.50% |
| Indiana, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $152 | 6.25% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $288 | 6.50% |
| DuBois, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $402 | 7.50% |
| MANSFIELD, OH (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $247 | 6.47% |
| Richmond-Berea, KY (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $355 | 7.50% |
| Chillicothe, OH (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $122 | 7.75% |
| Huntingdon, PA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $288 | 6.50% |
| Coshocton, OH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $408 | 6.25% |
| Warren, PA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $402 | 6.25% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $501 | 7.25% |
| WHEELING, WV-OH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $372 | 6.25% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $152 | 6.25% |
| Oil City, PA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $229 | 6.95% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $372 | 6.75% |
| Lewisburg, PA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $38 | 8.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 84 | $4,830,000 | $57,500 | $373 | 7.00% |
For 2018, Alliance Credit's most frequently originated type of loan was Conventional, with 84 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 84 | $4,830,000 | $57,500 | $373 | 7.00% |
For 2018, Alliance Credit's most frequently cited loan purpose was Home Purchase, with 84 originations.
Loan Duration/Length
For 2018, Alliance Credit's most frequently cited loan duration was 20 Year, with 32 originations. The 2nd most popular length was 15 Year, with 24 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 49 | $2,995,000 | $61,122 |
| $1k-2k | 1 | $95,000 | $95,000 |
| $2k-3k | 1 | $85,000 | $85,000 |
Alliance Credit's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 49 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 45 | $2,505,000 | $55,667 |
| 7-8% | 30 | $1,870,000 | $62,333 |
| Over 8% | 5 | $185,000 | $37,000 |
| 5-6% | 3 | $215,000 | $71,667 |
| 4-5% | 1 | $55,000 | $55,000 |
During 2018, Alliance Credit's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 45 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 78 | $4,100,000 | $52,564 | $336 | 7.04% |
| $100k-200k | 6 | $730,000 | $121,667 | $852 | 6.50% |
2018 saw Alliance Credit place emphasis on $100,000 or less loans with 78 originations, totaling $4,100,000 in origination value.
Applicant Income
Alliance Credit lent most frequently to those with incomes in the $50k or less range, with 37 originations. The second most popular income band? $50k-75k, with 25 originations.
Applicant Debt to Income Ratio
Alliance Credit lent most frequently to those with DTI ratios of <20%, with 23 originations. The next most common DTI ratio? 20-30%, with 21 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 83 | $4,745,000 | $57,169 | $369 | 7.01% |
| Black | 1 | $85,000 | $85,000 | $693 | 6.25% |
Approval Rates
Total approvals of all applications28.24%
Alliance Credit has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination-2.38%
Alliance Credit has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 84 | $4,830,000 | $57,500 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 84 | $4,830,000 | $57,500 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Over 100% | 10 | $990,000 | $99,000 | $1,028 | 6.45% |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Alliance Data Card Services | Other type of mortgage | Closing on a mortgage | 1 | 100.0% |