Seneca Falls Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Seneca Falls averaged
6.15%
for the week of 2024-10-10, compared to the national average of
6.32% for the same period.
The average rate for the prior week (2024-10-03) was
6.15% and
one month ago for the week of 2024-09-05, the
average rate was 6.38%.
Seneca Falls's average rate one year ago was 7.72%.
For refis of the same type during the week of 2024-10-10, the average rate
was 6.62%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-10-10 | 6.32% |
| Seneca Falls 30 Year Fixed Rate | 2024-10-10 | 6.15% |
| Seneca Falls 30 Year Fixed Rate Refi | 2024-10-10 | 6.62% |
| Seneca Falls 15 Year Fixed Rate | 2024-10-10 | 5.51% |
| Seneca Falls 15 Year Fixed Rate Refi | 2024-10-10 | 5.81% |
| Seneca Falls 30 Year FHA | 2024-10-10 | 6% |
| Seneca Falls 30 Year FHA Refi | 2024-10-10 | 6.2% |
| Seneca Falls 30 Year USDA | 2024-10-10 | 6.28% |
| Seneca Falls 30 Year USDA Refi | 2024-10-10 | 6.08% |
| Seneca Falls 30 Year VA | 2024-10-10 | 6.05% |
| Seneca Falls 30 Year VA Refi | 2024-10-10 | 5.95% |
Seneca Falls 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 Seneca Falls, 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.).
Seneca Falls Average Closing Costs & Other Stats
Seneca Falls, NY's 42 lenders originated 490
loans during 2023. The total origination value was $70,440,000, with an average loan value of
$143,755.
Seneca Falls's average closing costs are $4,268.
The top Seneca Falls lender as defined by loan originations is The Lyons National Bank, with
31 loans originated. Their average total fees are
$4,273, which is $4,041
higher than the next largest lender,
Community Bank.
The lowest fee Seneca Falls lenders (with over 10 loans originated) are
Community Bank ($232), The Lyons National Bank ($4,273), .
The lowest rate Seneca Falls lenders (with over 10 loans originated) are
The Lyons National Bank (6.65%), Community Bank (7.14%), .
Seneca Falls, 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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| The Lyons National Bank | $16,525,000 | $12,475,000 | -24.5% | 17.7% |
| Community Bank | $7,930,000 | $6,220,000 | -21.6% | 8.8% |
| Tompkins Trust Company | $4,445,000 | $4,870,000 | 9.6% | 6.9% |
| QUICKEN LOANS, LLC | $5,835,000 | $4,020,000 | -31.1% | 5.7% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,445,000 | $3,350,000 | 131.8% | 4.8% |
| Genesee Regional Bank | $1,185,000 | $2,975,000 | 151.1% | 4.2% |
| Farm Credit East, ACA | $2,615,000 | $2,275,000 | -13.0% | 3.2% |
| Premium Mortgage Corporation | $4,315,000 | $1,950,000 | -54.8% | 2.8% |
| Generations Bank | $2,760,000 | $1,760,000 | -36.2% | 2.5% |
| ESL Federal Credit Union | $2,485,000 | $1,620,000 | -34.8% | 2.3% |
| Five Star Bank | $2,615,000 | $1,575,000 | -39.8% | 2.2% |
| CFCU Community Credit Union | $3,070,000 | $1,180,000 | -61.6% | 1.7% |
| M&T Bank | $1,250,000 | $1,175,000 | -6.0% | 1.7% |
| THE SUMMIT Federal Credit Union | $880,000 | $1,125,000 | 27.8% | 1.6% |
| Bank of America | $380,000 | $1,105,000 | 190.8% | 1.6% |
| PLAZA HOME MORTGAGE, INC. | $1,975,000 | $1,055,000 | -46.6% | 1.5% |
| Wayne Bank | $2,100,000 | $1,055,000 | -49.8% | 1.5% |
| Citizens Bank | $725,000 | $1,045,000 | 44.1% | 1.5% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $995,000 | $975,000 | -2.0% | 1.4% |
| LIMA ONE CAPITAL, LLC | $950,000 | n/a | 1.3% | |
| FINGER LAKES | $1,510,000 | $890,000 | -41.1% | 1.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $875,000 | n/a | 1.2% | |
| PARAGON HOME LOANS INC. | $1,405,000 | $760,000 | -45.9% | 1.1% |
| Chemung Canal Trust Company | $955,000 | $730,000 | -23.6% | 1.0% |
| VISIONS | $705,000 | n/a | 1.0% | |
| Mortgage Research Center, LLC | $185,000 | $690,000 | 273.0% | 1.0% |
| PENNYMAC LOAN SERVICES, LLC | $685,000 | n/a | 1.0% | |
| NAVY FEDERAL CREDIT UNION | $350,000 | $680,000 | 94.3% | 1.0% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $605,000 | n/a | 0.9% | |
| Evans Bank | $825,000 | $580,000 | -29.7% | 0.8% |
| CARDINAL FINANCIAL | $560,000 | n/a | 0.8% | |
| Wells Fargo Bank | $320,000 | $535,000 | 67.2% | 0.8% |
| JPMorgan Chase Bank | $680,000 | $520,000 | -23.5% | 0.7% |
| City National Bank | $505,000 | n/a | 0.7% | |
| Geddes Federal Savings and Loan Association | $1,605,000 | $505,000 | -68.5% | 0.7% |
| The Canandaigua National Bank and Trust Company | $475,000 | $485,000 | 2.1% | 0.7% |
| Plains Commerce Bank | $445,000 | n/a | 0.6% | |
| RELIANT COMMUNITY FEDERAL CREDIT UNION | $810,000 | $425,000 | -47.5% | 0.6% |
| Tioga State Bank | $880,000 | $365,000 | -58.5% | 0.5% |
| NATIONWIDE MORTGAGE BANKERS, INC. | $360,000 | n/a | 0.5% | |
| MOVEMENT MORTGAGE, LLC | $500,000 | $335,000 | -33.0% | 0.5% |
| Citibank | $305,000 | n/a | 0.4% | |
| SEFCU SERVICES, LLC | $95,000 | $300,000 | 215.8% | 0.4% |
| ROYAL UNITED MORTGAGE LLC | $460,000 | $295,000 | -35.9% | 0.4% |
| Empower Federal Credit Union | $155,000 | $250,000 | 61.3% | 0.4% |
| Alternatives Federal Credit Union | $95,000 | $210,000 | 121.1% | 0.3% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $220,000 | $210,000 | -4.5% | 0.3% |
| STATE EMPLOYEES FEDERAL CREDIT UNION | $335,000 | $210,000 | -37.3% | 0.3% |
| HUNT MORTGAGE CORPORATION | $435,000 | $205,000 | -52.9% | 0.3% |
| 1ST PRIORITY MORTGAGE, INC. | $845,000 | $190,000 | -77.5% | 0.3% |
| KeyBank | $530,000 | $175,000 | -67.0% | 0.2% |
| FIRST HERITAGE FEDERAL CREDIT UNION | $170,000 | n/a | 0.2% | |
| TRIAD FINANCIAL SERVICES, INC. | $35,000 | $165,000 | 371.4% | 0.2% |
| AMERICU Credit Union | $625,000 | $160,000 | -74.4% | 0.2% |
| AMERICAN FINANCING CORPORATION | $155,000 | n/a | 0.2% | |
| CMG MORTGAGE, INC. | $225,000 | $155,000 | -31.1% | 0.2% |
| HOMESTEAD FUNDING CORP. | $195,000 | $135,000 | -30.8% | 0.2% |
| RELIANCE FIRST CAPITAL, LLC | $460,000 | $135,000 | -70.7% | 0.2% |
| USAA Federal Savings Bank | $135,000 | n/a | 0.2% | |
| Adirondack Bank | $125,000 | n/a | 0.2% | |
| CLIFFCO, INC. | $125,000 | n/a | 0.2% | |
| LOANDEPOT.COM, LLC | $135,000 | $125,000 | -7.4% | 0.2% |
| SERVU FEDERAL CREDIT UNION | $120,000 | n/a | 0.2% | |
| Flagstar Bank, FSB | $65,000 | $115,000 | 76.9% | 0.2% |
| Evolve Bank & Trust | $105,000 | n/a | 0.1% | |
| HOME TOWN FUNDING, INC. | $3,995,000 | $105,000 | -97.4% | 0.1% |
| CORNING | $695,000 | $100,000 | -85.6% | 0.1% |
| First Savings Bank | $95,000 | n/a | 0.1% | |
| EMBRACE HOME LOANS, INC. | $85,000 | n/a | 0.1% | |
| Savannah Bank | $80,000 | n/a | 0.1% | |
| Advantage Federal Credit Union | $155,000 | $75,000 | -51.6% | 0.1% |
| KINECTA | $75,000 | n/a | 0.1% | |
| PHH Mortgage Corporation | $75,000 | n/a | 0.1% | |
| CREDIT UNION OF NEW JERSEY | $55,000 | n/a | 0.1% | |
| FINANCE OF AMERICA REVERSE LLC | $55,000 | n/a | 0.1% | |
| Discover Bank | $45,000 | n/a | 0.1% |
Seneca Falls's top lender by overall market share is The Lyons National Bank, with 17.7% market share. In second place, with 8.8%, is Community Bank, having originated $6,220,000 in loans. In third place, with 6.9%, is Tompkins Trust Company, having originated $4,870,000 in loans. In fourth place, with 5.7%, is QUICKEN LOANS, LLC, having originated $4,020,000 in loans. In fifth place, with 4.8%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $3,350,000 in loans.
Seneca Falls, NY Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 231 | $43,355,000 | $187,684 |
| Home Improvement | 82 | $6,290,000 | $76,707 |
| Cash Out Refi | 70 | $10,760,000 | $153,714 |
| Other | 61 | $4,595,000 | $75,328 |
| Refi | 46 | $5,440,000 | $118,261 |
Seneca Falls's most frequently cited loan purpose was Home Purchase, with 231 originations. The 2nd most popular reason was Home Improvement, with 82 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 177 | $25,635,000 | $144,831 |
| 7-8% | 117 | $19,255,000 | $164,573 |
| Over 8% | 60 | $6,480,000 | $108,000 |
| 5-6% | 56 | $10,140,000 | $181,071 |
| 4-5% | 19 | $1,685,000 | $88,684 |
| <2.5% | 18 | $960,000 | $53,333 |
| 3-4% | 6 | $2,780,000 | $463,333 |
During 2023, Seneca Falls's most frequently originated rate bucket was 6-7%, with 177 originations.
Loan Sizing (Seneca Falls, NY MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 223 | $12,405,000 | $55,628 |
| $100k-200k | 168 | $23,720,000 | $141,190 |
| $200k-400k | 75 | $19,685,000 | $262,467 |
| $400k-600k | 17 | $7,785,000 | $457,941 |
| $600k-1000k | 5 | $3,485,000 | $697,000 |
| $Over $1MM | 2 | $3,360,000 | $1,680,000 |
Seneca Falls's loan sizing saw the bucket of loans from $100,000 or less with 223 originations, totaling $12,405,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 178 | $31,670,000 | $177,921 |
| 60-80% | 88 | $18,020,000 | $204,773 |
| 20-40% | 72 | $6,040,000 | $83,889 |
| 40-60% | 60 | $8,380,000 | $139,667 |
| Under 20% | 53 | $2,425,000 | $45,755 |
| Over 100% | 2 | $400,000 | $200,000 |
Seneca Falls's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 178 originations, totaling $31,670,000 in origination value.