TrustCo Bank at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the B grade breaks down
Each component is a percentile rank among 412 home-equity (HELOC) lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
39th28.5% deniedPricingmedian rate spread over APOR, weight 30%
90th-1.31 ptsProcesswithdrawn + incomplete share, weight 15%
29th16.6%Closing coststotal loan costs ÷ loan amount, weight 10%
79th2.04% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 5,719 | 3,210 | 26.8% | 31.1% | 4.88% | $701M |
| 2024 | 4,516 | 2,453 | 25.7% | 31.2% | 5.75% | $547M |
| 2025 | 4,999 | 2,788 | 23.8% | 28.5% | 5.88% | $652M |
What TrustCo Bank lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 2,701 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 102 investment properties.
Why TrustCo Bank denies applications
Primary reason reported for each of the 1,188 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at TrustCo Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 465 | 120 | 66.9% |
| $50k – $100k | 1,318 | 640 | 38.3% |
| $100k – $150k | 1,165 | 690 | 23.0% |
| $150k – $250k | 1,361 | 884 | 16.9% |
| Over $250k | 661 | 443 | 12.1% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 56 | 32 | 22.7% |
| 25–34 | 706 | 420 | 19.9% |
| 35–44 | 1,252 | 720 | 26.0% |
| 45–54 | 1,084 | 575 | 33.5% |
| 55–64 | 884 | 493 | 30.4% |
| 65–74 | 654 | 365 | 29.3% |
| Over 74 | 351 | 174 | 33.6% |
Where TrustCo Bank lends
6 states and 53 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| New York | 2,879 | 1,749 | 20.8% | 5.88% | #31 |
| Florida | 2,019 | 991 | 27.8% | 5.88% | #92 |
| New Jersey | 64 | 29 | 31.3% | 5.75% | #322 |
| Massachusetts | 22 | 9 | 22.7% | 5.88% | #404 |
| Vermont | 14 | 9 | 21.4% | 5.75% | #95 |
Frequently asked questions
TrustCo Bank denied 28.5% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 39th percentile of home-equity (HELOC) lenders.
The most common reason TrustCo Bank gave in 2025 was "debt-to-income ratio", cited on 47.7% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans TrustCo Bank originated in 2025 was 5.88%, and its median rate spread over the average prime offer rate was -1.31 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 28% of its applications were for home purchases, 20% for refinancing (including cash-out), and 52% for home improvement or other purposes. By loan type: 100% conventional, 0% FHA, 0% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.