Tompkins Trust Company Mortgage Rates, Fees & Info
Ithaca, NYLEI: 254900Q6YS0NMCYAH669
Tax ID: 15-0470650
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Mortgage Data
Review & Overview
Tompkins Trust Company is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Tompkins Trust Company 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: Ithaca, New York, Philadelphia, Rochester, and Buffalo among others. We have data for 32 markets. (Some data included below & more in-depth data is available with an active subscription.)Tompkins Trust Company has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Tompkins Trust Company 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 3/31/23 |
| 30 Year Conventional Purchase | 6.19% | 3/31/23 |
| 30 Year Conventional Refi | 6.12% | 3/31/23 |
| 30 Year Cash-out Refi | 6.19% | 3/31/23 |
| 30 Year USDA Purchase | 6.32% | 3/31/23 |
| 15 Year Conventional Purchase | 5.57% | 3/31/23 |
| 15 Year Conventional Refi | 5.71% | 3/31/23 |
| 15 Year Cash-out Refi | 5.71% | 3/31/23 |
| 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
1,005Origination Dollar Volume (All Markets)
$352,545,000Awards
Tompkins Trust Company - 2022
Tompkins Trust Company is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Tompkins Trust Company's average 30 year fixed mortgage rate was
4.38%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.38%.
Relative Fees (Closing Costs)
Tompkins Trust Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,779.
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 |
|---|---|---|---|---|---|
| ITHACA, NY (FHA|USDA|VA) | 232 | $83,470,000 | $359,784 | $3,886 | 4.14% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 85 | $45,635,000 | $536,882 | $5,114 | 4.01% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 89 | $43,435,000 | $488,034 | $3,856 | 4.22% |
| ROCHESTER, NY (FHA|USDA|VA) | 110 | $39,210,000 | $356,455 | $3,509 | 4.93% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 51 | $26,105,000 | $511,863 | $4,768 | 4.84% |
| SYRACUSE, NY (FHA|USDA|VA) | 39 | $25,755,000 | $660,385 | $4,187 | 4.90% |
| READING, PA (FHA|USDA|VA) | 113 | $24,265,000 | $214,735 | $3,724 | 4.21% |
| Cortland, NY (FHA|USDA|VA) | 64 | $11,700,000 | $182,813 | $3,221 | 4.23% |
| Outside of Metro Areas | 42 | $8,200,000 | $195,238 | $3,824 | 4.07% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 19 | $6,045,000 | $318,158 | $4,161 | 4.26% |
| Batavia, NY (FHA|USDA|VA) | 39 | $5,885,000 | $150,897 | $3,099 | 4.81% |
| Auburn, NY (FHA|USDA|VA) | 28 | $5,280,000 | $188,571 | $3,210 | 4.40% |
| ELMIRA, NY (FHA|USDA|VA) | 6 | $5,200,000 | $866,667 | $3,287 | 3.79% |
| Seneca Falls, NY (FHA|USDA|VA) | 15 | $4,445,000 | $296,333 | $4,319 | 4.49% |
| Pottsville, PA (FHA|USDA|VA) | 19 | $3,225,000 | $169,737 | $3,601 | 4.68% |
| BINGHAMTON, NY (FHA|USDA|VA) | 11 | $2,325,000 | $211,364 | $3,508 | 4.16% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 4 | $1,850,000 | $462,500 | $3,758 | 3.63% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 4 | $1,800,000 | $450,000 | $3,889 | 3.97% |
| UTICA-ROME, NY (FHA|USDA|VA) | 5 | $1,435,000 | $287,000 | $4,024 | 4.94% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 4 | $1,420,000 | $355,000 | $5,316 | 4.12% |
| Corning, NY (FHA|USDA|VA) | 6 | $1,050,000 | $175,000 | $3,609 | 4.19% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $4,567 | 5.71% |
| LANCASTER, PA (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $3,780 | 5.46% |
| LEBANON, PA (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $3,849 | 5.38% |
| Hudson, NY (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $0 | 5.56% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $5,531 | 3.25% |
| Olean, NY (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $2,957 | 5.47% |
| Ogdensburg-Massena, NY (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,162 | 4.81% |
| Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $3,359 | 4.07% |
| Torrington, CT (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 3.97% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,165 | 2.25% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,570 | 4.88% |
Similar Lenders
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Product Mix
For 2022, Tompkins Trust Company's most frequently originated type of loan was Conventional, with 1,000 originations. Their 2nd most popular type was HELOC, with 3 originations.
Loan Reason
For 2022, Tompkins Trust Company's most frequently cited loan purpose was Home Purchase, with 620 originations. The 2nd most popular reason was Cash Out Refi, with 247 originations.
Loan Duration/Length
For 2022, Tompkins Trust Company's most frequently cited loan duration was 30 Year, with 594 originations. The 2nd most popular length was 15 Year, with 125 originations.
Origination Fees/Closing Costs
Tompkins Trust Company's average total fees were $3,779, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 705 originations.
Interest Rates
During 2022, Tompkins Trust Company's average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was 3-4%, with 253 originations.
Loan Sizing
2022 saw Tompkins Trust Company place emphasis on $200k-400k loans with 363 originations, totaling $101,775,000 in origination value.
Applicant Income
Tompkins Trust Company lent most frequently to those with incomes in the $100k-150k range, with 197 originations. The second most popular income band? $50k-75k, with 178 originations.
Applicant Debt to Income Ratio
Tompkins Trust Company lent most frequently to those with DTI ratios of 20-30%, with 221 originations. The next most common DTI ratio? 30-36%, with 185 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.78%
Tompkins Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination92.64%
Tompkins Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,005 | $352,545,000 | $350,791 |