Tompkins Trust Company Mortgage Rates, Fees & Info

Ithaca, NY

LEI: 254900Q6YS0NMCYAH669

Tax ID: 15-0470650

5 stars - Updated: 7/14/24 - out of 5 stars, based on 35 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Tompkins Trust Company is a smaller mortgage company specializing in Home Purchase loans. Tompkins Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Ithaca, Syracuse, New York, Rochester, and Reading 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 average approval rate when compared to the average across all lenders. They have an 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.

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) 6.27% 7/14/24
30 Year Conventional Purchase 6.19% 7/14/24
30 Year Conventional Refi 6.12% 7/14/24
30 Year Cash-out Refi 6.19% 7/14/24
30 Year USDA Purchase 6.32% 7/14/24
15 Year Conventional Purchase 5.57% 7/14/24
15 Year Conventional Refi 5.71% 7/14/24
15 Year Cash-out Refi 5.71% 7/14/24
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.

Tompkins Trust Company Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Tompkins Trust Company. 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

1,260

Origination Dollar Volume (All Markets)

$380,520,000
Show all (18) awards

Relative Rate

Tompkins Trust Company's average 30 year fixed mortgage rate was 4.77%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -1.71%.

Relative Fees (Closing Costs)

Tompkins Trust Company's average total fees/closing costs for a 30 year fixed rate mortgage were $3,769.

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 $9,089.

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) 217 $73,335,000 $337,949 $3,857 5.13%
SYRACUSE, NY (FHA|USDA|VA) 60 $56,700,000 $945,000 $4,421 6.16%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 103 $49,905,000 $484,515 $4,559 5.42%
ROCHESTER, NY (FHA|USDA|VA) 143 $42,675,000 $298,427 $3,354 5.09%
READING, PA (FHA|USDA|VA) 224 $41,330,000 $184,509 $3,917 4.78%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 73 $27,465,000 $376,233 $4,400 5.11%
Outside of Metro Areas 92 $14,490,000 $157,500 $4,103 5.03%
Batavia, NY (FHA|USDA|VA) 70 $12,670,000 $181,000 $3,928 4.73%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 45 $10,005,000 $222,333 $3,403 6.13%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 28 $8,790,000 $313,929 $5,031 5.25%
Cortland, NY (FHA|USDA|VA) 56 $8,290,000 $148,036 $2,986 5.73%
BINGHAMTON, NY (FHA|USDA|VA) 33 $6,765,000 $205,000 $3,354 6.50%
Auburn, NY (FHA|USDA|VA) 24 $4,960,000 $206,667 $4,435 5.12%
Seneca Falls, NY (FHA|USDA|VA) 14 $4,870,000 $347,857 $4,772 4.86%
LANCASTER, PA (FHA|USDA|VA) 9 $4,845,000 $538,333 $3,738 5.56%
Pottsville, PA (FHA|USDA|VA) 21 $3,685,000 $175,476 $4,449 4.98%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 8 $2,580,000 $322,500 $4,552 5.01%
ELMIRA, NY (FHA|USDA|VA) 8 $1,850,000 $231,250 $4,184 6.53%
Olean, NY (FHA|USDA|VA) 10 $1,200,000 $120,000 $2,725 5.19%
LEBANON, PA (FHA|USDA|VA) 5 $1,015,000 $203,000 $3,632 5.49%
KINGSTON, NY (FHA|USDA|VA) 1 $665,000 $665,000 $0 6.58%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 1 $585,000 $585,000 $4,361 6.63%
YORK-HANOVER, PA (FHA|USDA|VA) 2 $360,000 $180,000 $3,550 7.31%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $315,000 $315,000 $3,788 6.50%
UTICA-ROME, NY (FHA|USDA|VA) 4 $300,000 $75,000 $1,560 5.61%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $225,000 $225,000 $2,663 6.88%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $220,000 $110,000 $852 6.45%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $125,000 $125,000 $0 7.25%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.38%
WILLIAMSPORT, PA (FHA|USDA|VA) 1 $85,000 $85,000 $2,547 6.75%
Corning, NY (FHA|USDA|VA) 1 $65,000 $65,000 $1,712 8.04%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $45,000 $45,000 $0 3.25%
Tompkins Trust Company's top markets include Ithaca, Syracuse, New York, Rochester, and Reading among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Tompkins Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Walden Savings Bank
    Similarity Rank: 15
    Republic Bank
    Similarity Rank: 21
    NIAGARA'S CHOICE
    Similarity Rank: 22
    CFCU Community Credit Union
    Similarity Rank: 30
    Pittsford Federal Credit Union
    Similarity Rank: 34
    SECNY Federal Credit Union
    Similarity Rank: 36
    Alternatives Federal Credit Union
    Similarity Rank: 49

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 747 $311,125,000 $416,499 $3,878 6.45%
    HELOC 513 $69,395,000 $135,273 n/a 3.45%

    For 2023, Tompkins Trust Company's most frequently originated type of loan was Conventional, with 747 originations. Their 2nd most popular type was HELOC, with 513 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 622 $238,870,000 $384,035 $4,034 6.28%
    Home Improvement 219 $32,345,000 $147,694 $1,945 3.77%
    Other 192 $24,080,000 $125,417 $1,639 3.54%
    Refi 153 $51,125,000 $334,150 $2,959 4.55%
    Cash Out Refi 73 $33,825,000 $463,356 $4,269 6.53%
    NA 1 $275,000 $275,000 $0 3.25%

    For 2023, Tompkins Trust Company's most frequently cited loan purpose was Home Purchase, with 622 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 968 $188,130,000 $194,349 $3,769 4.77%
    Other 80 $97,480,000 $1,218,500 $4,482 6.88%
    15 Year 67 $17,775,000 $265,299 $2,971 6.46%
    20 Year 46 $9,550,000 $207,609 $5,876 7.00%
    10 Year 39 $18,695,000 $479,359 $1,737 6.56%
    30+ year 36 $38,130,000 $1,059,167 $8,179 6.51%
    5 Year 19 $9,635,000 $507,105 $673 6.75%
    1 Year 4 $860,000 $215,000 $0 9.31%
    3 Year 1 $265,000 $265,000 $0 8.50%

    For 2023, Tompkins Trust Company's most frequently cited loan duration was 30 Year, with 968 originations. The 2nd most popular length was Other, with 80 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 442 $116,490,000 $263,552
    $1k-2k 39 $7,815,000 $200,385
    $2k-3k 18 $5,720,000 $317,778
    $3k-4k 16 $3,860,000 $241,250
    $4k-5k 12 $3,510,000 $292,500
    $5k+ 9 $6,135,000 $681,667

    Tompkins Trust Company's average total fees were $3,769, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 442 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 493 $66,495,000 $134,878
    6-7% 337 $134,485,000 $399,065
    5-6% 248 $72,000,000 $290,323
    7-8% 145 $56,655,000 $390,724
    Over 8% 30 $37,840,000 $1,261,333
    4-5% 7 $13,045,000 $1,863,571

    During 2023, Tompkins Trust Company's average interest rate for loans was 4.77%, while their most frequently originated rate bucket for loans was 3-4%, with 493 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 383 $55,695,000 $145,418 $3,328 5.44%
    $200k-400k 366 $98,910,000 $270,246 $4,122 5.41%
    $100,000 or less 344 $20,300,000 $59,012 $2,013 4.30%
    $400k-600k 88 $42,520,000 $483,182 $5,158 6.14%
    $600k-1MM 45 $33,345,000 $741,000 $6,671 6.24%
    $1MM+ 34 $129,750,000 $3,816,176 $12,330 6.72%

    2023 saw Tompkins Trust Company place emphasis on $100k-200k loans with 383 originations, totaling $55,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 277 $52,415,000 $189,224 $3,712 5.00%
    $150k-250k 244 $57,600,000 $236,066 $4,293 4.77%
    $75k-100k 193 $28,615,000 $148,264 $3,558 4.88%
    $50k-75k 189 $23,325,000 $123,413 $3,359 5.18%
    $250k+ 123 $48,075,000 $390,854 $5,357 5.16%
    $50k or less 74 $5,870,000 $79,324 $2,650 5.10%

    Tompkins Trust Company lent most frequently to those with incomes in the $100k-150k range, with 277 originations. The second most popular income band? $150k-250k, with 244 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 278 $55,380,000 $199,209 $3,962 4.88%
    30-36% 236 $50,080,000 $212,203 $3,714 5.17%
    <20% 124 $23,460,000 $189,194 $3,758 4.62%
    44% 84 $14,710,000 $175,119 $3,916 3.85%
    38% 45 $7,355,000 $163,444 $3,492 4.76%
    36% 43 $8,305,000 $193,140 $4,274 5.36%
    41% 40 $8,800,000 $220,000 $4,358 5.56%
    37% 36 $6,450,000 $179,167 $4,003 4.89%
    39% 36 $6,940,000 $192,778 $4,586 5.06%
    40% 36 $5,250,000 $145,833 $3,132 5.19%
    42% 35 $5,205,000 $148,714 $3,247 4.55%
    43% 34 $6,660,000 $195,882 $3,893 4.99%
    50-60% 15 $3,085,000 $205,667 $3,460 6.13%
    45% 15 $4,895,000 $326,333 $4,665 6.35%
    46% 10 $2,580,000 $258,000 $4,386 5.23%
    47% 9 $2,485,000 $276,111 $4,084 6.69%
    49% 8 $2,050,000 $256,250 $3,778 6.39%
    48% 6 $1,270,000 $211,667 $3,653 5.80%
    >60% 3 $235,000 $78,333 $3,808 5.72%

    Tompkins Trust Company lent most frequently to those with DTI ratios of 20-30%, with 278 originations. The next most common DTI ratio? 30-36%, with 236 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 968 $183,090,000 $189,143 $3,901 4.87%
    Not applicable 151 $162,115,000 $1,073,609 $0 6.94%
    Not provided 80 $19,660,000 $245,750 $3,682 6.03%
    Asian 27 $9,095,000 $336,852 $3,932 5.73%
    Black 16 $2,260,000 $141,250 $4,016 5.33%
    Asian Indian 7 $1,475,000 $210,714 $3,659 6.64%
    American Indian 4 $1,160,000 $290,000 $5,075 4.56%
    Other Asian 3 $1,075,000 $358,333 $3,739 6.58%
    Native Hawaiian or Islander 2 $220,000 $110,000 $0 5.56%
    Filipino 1 $195,000 $195,000 $3,279 6.25%
    Korean 1 $175,000 $175,000 $3,144 7.00%

    Approval Rates

    Total approvals of all applications
    83.71%

    Tompkins Trust Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    91.35%

    Tompkins Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,260 $380,520,000 $302,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,260 $380,520,000 $302,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 258 $35,890,000 $139,109 $3,170 4.04%
    40-60% 148 $61,660,000 $416,622 $3,650 4.86%
    60-80% 339 $164,705,000 $485,855 $4,301 6.10%
    80-100% 332 $96,510,000 $290,693 $3,958 5.99%
    Over 100% 7 $9,155,000 $1,307,857 $0 6.88%
    Under 20% 174 $12,500,000 $71,839 $1,050 4.06%