Cortland Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Cortland averaged
6.82%
for the week of 2025-06-18, compared to the national average of
6.81% for the same period.
The average rate for the prior week (2025-06-12) was
6.85% and
one month ago for the week of 2025-05-15, the
average rate was 6.52%.
Cortland's average rate one year ago was 6.86%.
For refis of the same type during the week of 2025-06-18, the average rate
was 7.31%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Cortland 30 Year Fixed Rate | 2025-06-18 | 6.82% |
| Cortland 30 Year Fixed Rate Refi | 2025-06-18 | 7.31% |
| Cortland 15 Year Fixed Rate | 2025-06-18 | 6.16% |
| Cortland 15 Year Fixed Rate Refi | 2025-06-18 | 6.06% |
| Cortland 30 Year FHA | 2025-06-18 | 0% |
| Cortland 30 Year FHA Refi | 2025-06-18 | -0.1% |
| Cortland 30 Year USDA | 2025-06-18 | 0% |
| Cortland 30 Year USDA Refi | 2025-06-18 | 0% |
| Cortland 30 Year VA | 2025-06-18 | 0.2% |
| Cortland 30 Year VA Refi | 2025-06-18 | -0.2% |
Cortland Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Cortland, NY market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Cortland Average Closing Costs & Other Stats
Cortland, NY's 38 lenders originated 618
loans during 2024. The total origination value was $100,360,000, with an average loan value of
$162,395.
Cortland's average closing costs are $3,943.
The top Cortland lender as defined by loan originations is Tompkins Trust Company, with
37 loans originated. Their average total fees are
$3,572, which is $3,351
higher than the next largest lender,
CFCU Community Credit Union.
The lowest fee Cortland lenders (with over 10 loans originated) are
CFCU Community Credit Union ($220), Tompkins Trust Company ($3,572), NBT Bank ($4,039), KeyBank ($4,113) and M&T Bank ($4,730).
The lowest rate Cortland lenders (with over 10 loans originated) are
CFCU Community Credit Union (6.04%), NBT Bank (6.43%), EVERETT FINANCIAL, INC. (6.55%), Tompkins Trust Company (6.63%) and KeyBank (6.66%).
Cortland, NY Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| CFCU Community Credit Union | $17,565,000 | $15,835,000 | -9.8% | 15.8% |
| Tompkins Trust Company | $8,290,000 | $9,270,000 | 11.8% | 9.2% |
| QUICKEN LOANS, LLC | $4,260,000 | $8,340,000 | 95.8% | 8.3% |
| EVERETT FINANCIAL, INC. | $7,535,000 | n/a | 7.5% | |
| NBT Bank | $6,320,000 | $6,525,000 | 3.2% | 6.5% |
| First National Bank of Dryden | $10,110,000 | $6,055,000 | -40.1% | 6.0% |
| M&T Bank | $2,840,000 | $4,465,000 | 57.2% | 4.4% |
| FIRST TECHNOLOGY | $3,405,000 | n/a | 3.4% | |
| KeyBank | $1,285,000 | $3,375,000 | 162.6% | 3.4% |
| Community Bank | $2,195,000 | $2,475,000 | 12.8% | 2.5% |
| Empower Federal Credit Union | $885,000 | $2,410,000 | 172.3% | 2.4% |
| AMERICU Credit Union | $810,000 | $2,395,000 | 195.7% | 2.4% |
| Genesee Regional Bank | $225,000 | $1,880,000 | 735.6% | 1.9% |
| Tioga State Bank | $2,125,000 | $1,800,000 | -15.3% | 1.8% |
| The First National Bank of Groton | $675,000 | $1,395,000 | 106.7% | 1.4% |
| CROSSCOUNTRY MORTGAGE, LLC | $595,000 | $1,170,000 | 96.6% | 1.2% |
| Citizens Bank | $1,640,000 | $1,165,000 | -29.0% | 1.2% |
| THE SUMMIT Federal Credit Union | $1,790,000 | $1,020,000 | -43.0% | 1.0% |
| NAVY FEDERAL CREDIT UNION | $405,000 | $1,015,000 | 150.6% | 1.0% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,030,000 | $905,000 | -12.1% | 0.9% |
| Premium Mortgage Corporation | $185,000 | $885,000 | 378.4% | 0.9% |
| HOMESTEAD FUNDING CORP. | $1,110,000 | $850,000 | -23.4% | 0.8% |
| Mortgage Research Center, LLC | $1,065,000 | $820,000 | -23.0% | 0.8% |
| HUNT MORTGAGE CORPORATION | $805,000 | n/a | 0.8% | |
| 1ST PRIORITY MORTGAGE, INC. | $1,270,000 | $785,000 | -38.2% | 0.8% |
| Farm Credit East, ACA | $1,220,000 | $735,000 | -39.8% | 0.7% |
| VISIONS | $930,000 | $710,000 | -23.7% | 0.7% |
| SEFCU SERVICES, LLC | $1,765,000 | $655,000 | -62.9% | 0.7% |
| TD Bank | $635,000 | n/a | 0.6% | |
| PARAGON HOME LOANS INC. | $7,630,000 | $620,000 | -91.9% | 0.6% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $635,000 | $595,000 | -6.3% | 0.6% |
| CARDINAL FINANCIAL | $590,000 | n/a | 0.6% | |
| USAA Federal Savings Bank | $495,000 | $560,000 | 13.1% | 0.6% |
| PENNYMAC LOAN SERVICES, LLC | $480,000 | n/a | 0.5% | |
| Chemung Canal Trust Company | $395,000 | $405,000 | 2.5% | 0.4% |
| NEWREZ LLC | $115,000 | $395,000 | 243.5% | 0.4% |
| The Lyons National Bank | $290,000 | $365,000 | 25.9% | 0.4% |
| STATE EMPLOYEES FEDERAL CREDIT UNION | $410,000 | $360,000 | -12.2% | 0.4% |
| MOVEMENT MORTGAGE, LLC | $720,000 | $340,000 | -52.8% | 0.3% |
| The Federal Savings Bank | $325,000 | n/a | 0.3% | |
| JPMorgan Chase Bank | $1,040,000 | $305,000 | -70.7% | 0.3% |
| LOANDEPOT.COM, LLC | $240,000 | $260,000 | 8.3% | 0.3% |
| Equity Prime Mortgage LLC | $245,000 | n/a | 0.2% | |
| Barrington Bank & Trust Company, N.A. | $350,000 | $235,000 | -32.9% | 0.2% |
| GUARANTEED RATE, INC. | $235,000 | n/a | 0.2% | |
| NORTHERN CREDIT UNION | $205,000 | $230,000 | 12.2% | 0.2% |
| BETTER MORTGAGE CORPORATION | $225,000 | n/a | 0.2% | |
| ESL Federal Credit Union | $215,000 | n/a | 0.2% | |
| FREEDOM MORTGAGE CORPORATION | $180,000 | n/a | 0.2% | |
| MID-ISLAND MORTGAGE CORP. | $175,000 | n/a | 0.2% | |
| Mr. Cooper ( Nationstar Mortgage ) | $240,000 | $175,000 | -27.1% | 0.2% |
| Wells Fargo Bank | $120,000 | $165,000 | 37.5% | 0.2% |
| Alternatives Federal Credit Union | $195,000 | $155,000 | -20.5% | 0.2% |
| CORNING | $155,000 | n/a | 0.2% | |
| Walden Savings Bank | $155,000 | n/a | 0.2% | |
| Seneca Savings | $145,000 | $145,000 | 0.0% | 0.1% |
| State Department Federal Credit Union | $145,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL NETWORK, INC. | $125,000 | n/a | 0.1% | |
| Service Federal Credit Union | $125,000 | n/a | 0.1% | |
| United Nations Federal Credit Union | $125,000 | n/a | 0.1% | |
| Webster Bank | $75,000 | $125,000 | 66.7% | 0.1% |
| A&D Mortgage LLC | $105,000 | n/a | 0.1% | |
| Geddes Federal Savings and Loan Association | $845,000 | $105,000 | -87.6% | 0.1% |
| PLAZA HOME MORTGAGE, INC. | $450,000 | $105,000 | -76.7% | 0.1% |
| Citibank | $85,000 | n/a | 0.1% | |
| Pathfinder Bank | $125,000 | $75,000 | -40.0% | 0.1% |
| FINANCE OF AMERICA REVERSE LLC | $125,000 | $65,000 | -48.0% | 0.1% |
| ROYAL UNITED MORTGAGE LLC | $410,000 | $55,000 | -86.6% | 0.1% |
| 21ST MORTGAGE CORPORATION | $150,000 | $45,000 | -70.0% | 0.0% |
| Bethpage Federal Credit Union | $45,000 | n/a | 0.0% |
Cortland's top lender by overall market share is CFCU Community Credit Union, with 15.8% market share. In second place, with 9.2%, is Tompkins Trust Company, having originated $9,270,000 in loans. In third place, with 8.3%, is QUICKEN LOANS, LLC, having originated $8,340,000 in loans. In fourth place, with 7.5%, is EVERETT FINANCIAL, INC., having originated $7,535,000 in loans. In fifth place, with 6.5%, is NBT Bank, having originated $6,525,000 in loans.
Cortland, NY Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 346 | $65,280,000 | $188,671 |
| Home Improvement | 85 | $6,705,000 | $78,882 |
| Other | 72 | $6,590,000 | $91,528 |
| Refi | 63 | $11,185,000 | $177,540 |
| Cash Out Refi | 52 | $10,600,000 | $203,846 |
Cortland's most frequently cited loan purpose was Home Purchase, with 346 originations. The 2nd most popular reason was Home Improvement, with 85 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 252 | $44,860,000 | $178,016 |
| 7-8% | 117 | $21,805,000 | $186,368 |
| 5-6% | 76 | $12,810,000 | $168,553 |
| Over 8% | 58 | $5,150,000 | $88,793 |
| 3-4% | 32 | $3,720,000 | $116,250 |
| 4-5% | 15 | $1,255,000 | $83,667 |
| <2.5% | 7 | $335,000 | $47,857 |
During 2024, Cortland's most frequently originated rate bucket was 6-7%, with 252 originations.
Loan Sizing (Cortland, NY MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 282 | $41,680,000 | $147,801 |
| $100,000 or less | 204 | $11,580,000 | $56,765 |
| $200k-400k | 111 | $28,675,000 | $258,333 |
| $400k-600k | 9 | $4,315,000 | $479,444 |
| $600k-1000k | 6 | $4,180,000 | $696,667 |
| $Over $1MM | 6 | $9,930,000 | $1,655,000 |
Cortland's loan sizing saw the bucket of loans from $100k-200k with 282 originations, totaling $41,680,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 229 | $43,805,000 | $191,288 |
| 60-80% | 125 | $30,345,000 | $242,760 |
| 20-40% | 88 | $6,200,000 | $70,455 |
| Under 20% | 59 | $2,195,000 | $37,203 |
| 40-60% | 54 | $6,980,000 | $129,259 |
| Over 100% | 1 | $175,000 | $175,000 |
Cortland's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 229 originations, totaling $43,805,000 in origination value.