Troy Bank And Trust Company Mortgage Rates, Fees & Info

Troy, AL

LEI: 549300N968Y85YXDX139

Tax ID: 63-0212370

5 stars - Updated: 6/9/24 - out of 5 stars, based on 14 reviews

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

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Mortgage Data

Review & Overview

Troy Bank And Trust Company is a smaller bank specializing in Home Purchase loans. Troy Bank And Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Dothan, Troy, Montgomery, Enterprise, and Panama City among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

Troy Bank And Trust Company has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Troy Bank And 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 relatively high 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.36% 6/9/24
30 Year Conventional Refi 6.27% 6/9/24
30 Year FHA Purchase 6.27% 6/9/24
30 Year USDA Purchase 6.27% 6/9/24
15 Year Conventional Purchase 9.94% 6/9/24
15 Year Conventional Refi 7.01% 6/9/24
15 Year Cash-out Refi 7.01% 6/9/24
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.

Troy Bank And Trust Company Mortgage Calculator






Your Estimates

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

This is not an official calculator from Troy Bank And 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

209

Origination Dollar Volume (All Markets)

$40,595,000

Awards

Troy Bank and Trust Company 30 Year Conventional Loans gold Troy Bank and Trust Company 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Troy Bank And Trust Company's average 30 year fixed mortgage rate was 7.11%.

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

This yields a difference of 0.63%.

Relative Fees (Closing Costs)

Troy Bank And Trust Company's average total fees/closing costs for a 30 year fixed rate mortgage were $3,464.

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
DOTHAN, AL (FHA|USDA|VA) 50 $12,080,000 $241,600 $2,804 8.30%
Troy, AL (FHA|USDA|VA) 65 $9,815,000 $151,000 $2,833 8.78%
MONTGOMERY, AL (FHA|USDA|VA) 17 $3,615,000 $212,647 $2,943 8.52%
Enterprise, AL (FHA|USDA|VA) 25 $2,665,000 $106,600 $2,627 9.62%
PANAMA CITY, FL (FHA|USDA|VA) 6 $2,040,000 $340,000 $0 8.45%
Ozark, AL (FHA|USDA|VA) 12 $2,030,000 $169,167 $2,839 8.34%
TUSCALOOSA, AL (FHA|USDA|VA) 2 $1,470,000 $735,000 $4,851 5.69%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 4 $1,290,000 $322,500 $2,763 8.00%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $1,085,000 $1,085,000 $10,874 7.75%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 4 $810,000 $202,500 $0 7.94%
Eufaula, AL-GA (FHA|USDA|VA) 4 $800,000 $200,000 $2,530 9.03%
Outside of Metro Areas 9 $685,000 $76,111 $2,925 9.21%
GADSDEN, AL (FHA|USDA|VA) 3 $645,000 $215,000 $0 8.56%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $405,000 $405,000 $1,011 7.50%
Alexander City, AL (FHA|USDA|VA) 1 $405,000 $405,000 $7,155 8.50%
COLUMBUS, GA-AL (FHA|USDA|VA) 2 $250,000 $125,000 $0 8.50%
LaGrange, GA-AL (FHA|USDA|VA) 1 $195,000 $195,000 $0 7.00%
Cleveland, MS (FHA|USDA|VA) 1 $165,000 $165,000 $0 8.75%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 1 $145,000 $145,000 $0 7.75%
Troy Bank And Trust Company's top markets include Dothan, Troy, Montgomery, Enterprise, and Panama City among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Similar Lenders

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

    AVADIAN
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    Similarity Rank: 285
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 209 $40,595,000 $194,234 $2,946 8.64%

    For 2023, Troy Bank And Trust Company's most frequently originated type of loan was Conventional, with 209 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 143 $32,575,000 $227,797 $3,195 8.45%
    Refi 42 $5,980,000 $142,381 $2,339 8.93%
    Home Improvement 19 $1,195,000 $62,895 $2,462 9.45%
    Other 5 $845,000 $169,000 $3,633 8.63%

    For 2023, Troy Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 143 originations. The 2nd most popular reason was Refi, with 42 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 76 $11,100,000 $146,053 $3,010 8.84%
    15 Year 44 $4,480,000 $101,818 $2,135 8.96%
    30 Year 25 $11,575,000 $463,000 $3,464 7.11%
    Other 22 $6,300,000 $286,364 $2,594 8.34%
    1 Year 17 $3,285,000 $193,235 $3,255 8.77%
    10 Year 14 $1,860,000 $132,857 $2,263 9.54%
    5 Year 11 $1,995,000 $181,364 $2,706 8.75%

    For 2023, Troy Bank And Trust Company's most frequently cited loan duration was 20 Year, with 76 originations. The 2nd most popular length was 15 Year, with 44 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 54 $10,650,000 $197,222
    $1k-2k 18 $2,030,000 $112,778
    $2k-3k 5 $1,155,000 $231,000
    $5k+ 4 $3,490,000 $872,500
    $3k-4k 3 $1,205,000 $401,667
    $4k-5k 3 $1,265,000 $421,667

    Troy Bank And Trust Company's average total fees were $3,464, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 54 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 151 $23,365,000 $154,735
    7-8% 39 $8,995,000 $230,641
    6-7% 15 $6,105,000 $407,000
    <2.5% 1 $85,000 $85,000
    5-6% 1 $485,000 $485,000
    3-4% 1 $255,000 $255,000
    4-5% 1 $1,305,000 $1,305,000

    During 2023, Troy Bank And Trust Company's average interest rate for loans was 7.11%, while their most frequently originated rate bucket for loans was Over 8%, with 151 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 83 $5,025,000 $60,542 $2,087 9.30%
    $100k-200k 67 $9,085,000 $135,597 $2,688 8.57%
    $200k-400k 28 $7,590,000 $271,071 $3,182 7.93%
    $400k-600k 21 $10,125,000 $482,143 $4,064 7.74%
    $600k-1MM 7 $4,965,000 $709,286 $3,559 7.57%
    $1MM+ 3 $3,805,000 $1,268,333 $9,507 7.25%

    2023 saw Troy Bank And Trust Company place emphasis on $100,000 or less loans with 83 originations, totaling $5,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 31 $3,965,000 $127,903 $2,434 9.07%
    $150k-250k 29 $5,765,000 $198,793 $2,583 8.12%
    $75k-100k 29 $3,165,000 $109,138 $3,198 9.69%
    $250k+ 25 $11,105,000 $444,200 $4,524 7.19%
    $50k-75k 15 $1,555,000 $103,667 $2,252 9.37%
    $50k or less 13 $855,000 $65,769 $1,789 9.63%

    Troy Bank And Trust Company lent most frequently to those with incomes in the $100k-150k range, with 31 originations. The second most popular income band? $150k-250k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 24 $6,190,000 $257,917 $3,265 8.65%
    30-36% 18 $2,620,000 $145,556 $2,849 9.41%
    <20% 18 $5,290,000 $293,889 $2,565 7.98%
    38% 6 $780,000 $130,000 $3,023 9.50%
    42% 5 $515,000 $103,000 $2,893 10.58%
    >60% 4 $1,290,000 $322,500 $3,844 8.38%
    40% 3 $285,000 $95,000 $2,761 10.38%
    36% 3 $575,000 $191,667 $4,175 9.17%
    39% 2 $550,000 $275,000 $2,662 8.19%
    48% 2 $150,000 $75,000 $2,111 9.63%
    46% 1 $405,000 $405,000 $2,015 8.50%
    47% 1 $565,000 $565,000 $1,426 7.75%
    49% 1 $115,000 $115,000 $1,919 7.75%
    44% 1 $115,000 $115,000 $2,859 11.00%
    41% 1 $55,000 $55,000 $2,237 9.50%
    43% 1 $245,000 $245,000 $5,101 8.25%
    37% 1 $75,000 $75,000 $2,239 10.75%
    45% 1 $255,000 $255,000 $1,410 8.25%

    Troy Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 18 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 113 $19,265,000 $170,487 $2,935 8.99%
    Not applicable 64 $13,810,000 $215,781 $0 8.39%
    Black 14 $2,960,000 $211,429 $2,680 8.14%
    Not provided 9 $2,765,000 $307,222 $2,597 7.02%
    Asian 7 $1,655,000 $236,429 $5,904 8.09%
    Filipino 1 $105,000 $105,000 $0 8.00%
    American Indian 1 $35,000 $35,000 $2,466 11.63%

    Approval Rates

    Total approvals of all applications
    94.02%

    Troy Bank And Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.74%

    Troy Bank And Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    286.1 1 $15,000 $15,000
    307.6 1 $25,000 $25,000
    318.85 1 $25,000 $25,000
    387.6 1 $65,000 $65,000
    424.1 1 $75,000 $75,000
    500.6 1 $75,000 $75,000
    NA 203 $40,315,000 $198,596

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    209 $40,595,000 $194,234

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $2,900,000 $131,818 $1,760 9.39%
    40-60% 41 $5,465,000 $133,293 $2,845 8.73%
    60-80% 88 $15,990,000 $181,705 $3,005 8.76%
    80-100% 48 $14,850,000 $309,375 $3,379 8.09%
    Over 100% 1 $105,000 $105,000 $0 8.50%
    Under 20% 9 $1,285,000 $142,778 $2,116 8.19%