Trustco Bank Mortgage Rates, Fees & InfoGlenville, NY
Tax ID: 14-0578631
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewTrustco Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Trustco Bank has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Orlando, Tampa, New York, and North Port among others. We have data for 28 markets. (Some data included below & more in-depth data is available with an active subscription.)
Trustco 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. Trustco 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.
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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||4.77%||12/10/23|
|30 Year Conventional Purchase||6.39%||12/10/23|
|30 Year Conventional Refi||6.21%||12/10/23|
|30 Year Cash-out Refi||6.24%||12/10/23|
|15 Year Conventional Purchase||5.97%||12/10/23|
|15 Year Conventional Refi||5.94%||12/10/23|
|15 Year Cash-out Refi||5.94%||12/10/23|
|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.|
Trustco Bank Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Trustco Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$892,920,000
TrustCo Bank - 2022
TrustCo Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Trustco Bank's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -1.28%.
Relative Fees (Closing Costs)
Trustco Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,478.
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.
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|
|ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA)||1,511||$290,605,000||$192,326||$2,686||4.04%|
|ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)||821||$162,665,000||$198,130||$3,407||3.71%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||274||$87,850,000||$320,620||$5,136||4.07%|
|New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)||354||$84,540,000||$238,814||$3,253||3.66%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||290||$63,820,000||$220,069||$3,899||4.00%|
|POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA)||132||$32,630,000||$247,197||$3,046||4.20%|
|GLENS FALLS, NY (FHA|USDA|VA)||149||$25,015,000||$167,886||$2,546||4.04%|
|DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA)||135||$24,765,000||$183,444||$3,472||4.04%|
|PUNTA GORDA, FL (FHA|USDA|VA)||79||$21,205,000||$268,418||$4,041||4.05%|
|PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA)||65||$14,875,000||$228,846||$4,003||3.88%|
|Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)||72||$14,810,000||$205,694||$2,883||3.49%|
|KINGSTON, NY (FHA|USDA|VA)||38||$9,540,000||$251,053||$3,199||4.53%|
|Hudson, NY (FHA|USDA|VA)||46||$8,890,000||$193,261||$2,804||4.43%|
|PORT ST. LUCIE, FL (FHA|USDA|VA)||27||$7,345,000||$272,037||$4,147||3.75%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||31||$6,705,000||$216,290||$3,617||4.65%|
|LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA)||43||$6,325,000||$147,093||$2,810||4.16%|
|Outside of Metro Areas||44||$6,190,000||$140,682||$1,857||4.17%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||22||$5,060,000||$230,000||$2,136||3.99%|
|Gloversville, NY (FHA|USDA|VA)||21||$3,765,000||$179,286||$2,494||4.34%|
|Sebastian-Vero Beach, FL (FHA|USDA|VA)||16||$3,730,000||$233,125||$2,833||3.62%|
|Amsterdam, NY (FHA|USDA|VA)||24||$3,100,000||$129,167||$2,213||3.80%|
|PITTSFIELD, MA (FHA|USDA|VA)||18||$2,630,000||$146,111||$1,876||4.10%|
|THE VILLAGES, FL (FHA|USDA|VA)||13||$1,945,000||$149,615||$2,245||3.69%|
|Bennington, VT (FHA|USDA|VA)||18||$1,630,000||$90,556||$1,736||4.01%|
|OCALA, FL (FHA|USDA|VA)||13||$1,515,000||$116,538||$3,934||4.12%|
|JACKSONVILLE, FL (FHA|USDA|VA)||3||$965,000||$321,667||$5,054||5.58%|
|HOMOSASSA SPRINGS, FL (FHA|USDA|VA)||2||$670,000||$335,000||$3,892||4.19%|
|Plattsburgh, NY (FHA|USDA|VA)||1||$135,000||$135,000||$2,327||6.38%|
We use machine learning to identify the top lenders compared against TrustCo Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Trustco Bank's most frequently originated type of loan was HELOC, with 2,132 originations. Their 2nd most popular type was Conventional, with 2,130 originations.
For 2022, Trustco Bank's most frequently cited loan purpose was Home Purchase, with 1,445 originations. The 2nd most popular reason was Other, with 1,202 originations.
For 2022, Trustco Bank's most frequently cited loan duration was 30 Year, with 2,566 originations. The 2nd most popular length was 20 Year, with 1,175 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Trustco Bank's average total fees were $3,478, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,178 originations.
During 2022, Trustco Bank's average interest rate for loans was 3.48%, while their most frequently originated rate bucket for loans was 4-5%, with 1,067 originations.
2022 saw Trustco Bank place emphasis on $100,000 or less loans with 1,310 originations, totaling $70,390,000 in origination value.
Trustco Bank lent most frequently to those with incomes in the $100k-150k range, with 1,196 originations. The second most popular income band? $150k-250k, with 1,034 originations.
Applicant Debt to Income Ratio
Trustco Bank lent most frequently to those with DTI ratios of 20-30%, with 1,094 originations. The next most common DTI ratio? 30-36%, with 885 originations.
Approval RatesTotal approvals of all applications
Trustco Bank has a below average approval rate.
Pick RateApprovals leading to origination
Trustco Bank has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|TRUIST FINANCIAL CORPORATION||Conventional home mortgage||Trouble during payment process||3||37.5%|
|TRUIST FINANCIAL CORPORATION||FHA mortgage||Applying for a mortgage or refinancing an existing mortgage||1||12.5%|
|TRUIST FINANCIAL CORPORATION||FHA mortgage||Struggling to pay mortgage||1||12.5%|
|TRUIST FINANCIAL CORPORATION||FHA mortgage||Trouble during payment process||1||12.5%|
|TRUIST FINANCIAL CORPORATION||Other type of mortgage||Struggling to pay mortgage||1||12.5%|
|TRUIST FINANCIAL CORPORATION||VA mortgage||Applying for a mortgage or refinancing an existing mortgage||1||12.5%|