Troy Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Troy averaged
7%
for the week of 2023-03-16, compared to the national average of
6.6% for the same period.
The average rate for the prior week (2023-03-09) was
6.83% and
one month ago for the week of 2023-02-09, the
average rate was 6.62%.
Troy's average rate one year ago was 4.25%.
For refis of the same type during the week of 2023-03-16, the average rate
was 6.92%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-03-16 | 6.6% |
Troy 30 Year Fixed Rate | 2023-03-16 | 7% |
Troy 30 Year Fixed Rate Refi | 2023-03-16 | 6.92% |
Troy 15 Year Fixed Rate | 2023-03-16 | 8.33% |
Troy 15 Year Fixed Rate Refi | 2023-03-16 | 6.57% |
Troy 30 Year FHA | 2023-03-16 | 6.52% |
Troy 30 Year FHA Refi | 2023-03-16 | 6.42% |
Troy 30 Year USDA | 2023-03-16 | 6.57% |
Troy 30 Year USDA Refi | 2023-03-16 | 3.32% |
Troy 30 Year VA | 2023-03-16 | 6.65% |
Troy 30 Year VA Refi | 2023-03-16 | 6.13% |
Troy 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 Troy, AL 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.).
Troy Average Closing Costs & Other Stats
Troy, AL's 51 lenders originated 793
loans during 2021. The total origination value was $145,105,000, with an average loan value of
$182,982.
Troy's average closing costs are $4,427.
The top Troy lender as defined by loan originations is Renasant Bank, with
56 loans originated. Their average total fees are
$3,901, which is $334
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Troy lenders (with over 10 loans originated) are
Wells Fargo Bank ($3,402), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($3,643), Troy Bank and Trust Company ($3,676), Renasant Bank ($3,901) and GUILD MORTGAGE COMPANY ($4,167).
The lowest rate Troy lenders (with over 10 loans originated) are
Renasant Bank (2.91%), CROSSCOUNTRY MORTGAGE, LLC (3.01%), Wells Fargo Bank (3.05%), QUICKEN LOANS, LLC (3.19%) and GUILD MORTGAGE COMPANY (3.25%).
Troy, AL 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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
---|---|---|---|---|
Renasant Bank | $14,655,000 | $21,290,000 | 45.3% | 14.7% |
Troy Bank and Trust Company | $23,040,000 | $12,565,000 | -45.5% | 8.7% |
QUICKEN LOANS, LLC | $8,725,000 | $11,895,000 | 36.3% | 8.2% |
CROSSCOUNTRY MORTGAGE, LLC | $4,890,000 | $8,800,000 | 80.0% | 6.1% |
Southern States Bank | $7,255,000 | n/a | 5.0% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $4,105,000 | $7,140,000 | 73.9% | 4.9% |
GUILD MORTGAGE COMPANY | $3,780,000 | $6,065,000 | 60.4% | 4.2% |
MAX Credit Union | $5,650,000 | $4,110,000 | -27.3% | 2.8% |
Regions Bank | $3,450,000 | $3,825,000 | 10.9% | 2.6% |
AuburnBank | $2,065,000 | $3,570,000 | 72.9% | 2.5% |
Mortgage Research Center, LLC | $1,250,000 | $3,375,000 | 170.0% | 2.3% |
Wells Fargo Bank | $1,935,000 | $3,175,000 | 64.1% | 2.2% |
FREEDOM MORTGAGE CORPORATION | $3,420,000 | $3,045,000 | -11.0% | 2.1% |
21ST MORTGAGE CORPORATION | $1,665,000 | $2,220,000 | 33.3% | 1.5% |
First Citizens Bank | $940,000 | $2,215,000 | 135.6% | 1.5% |
LOANDEPOT.COM, LLC | $1,060,000 | $2,100,000 | 98.1% | 1.4% |
Guardian Credit Union | $570,000 | $2,015,000 | 253.5% | 1.4% |
United Bank | $1,885,000 | n/a | 1.3% | |
UNITED WHOLESALE MORTGAGE, LLC | $145,000 | $1,885,000 | 1,200.0% | 1.3% |
PENNYMAC LOAN SERVICES, LLC | $625,000 | $1,825,000 | 192.0% | 1.3% |
Trustmark National Bank | $1,340,000 | $1,370,000 | 2.2% | 0.9% |
AMERISAVE MORTGAGE CORPORATION | $925,000 | $1,215,000 | 31.4% | 0.8% |
INTERLINC MORTGAGE SERVICES, LLC | $1,870,000 | $1,215,000 | -35.0% | 0.8% |
Hometown Lenders, Inc. | $375,000 | $1,175,000 | 213.3% | 0.8% |
USAA Federal Savings Bank | $870,000 | $1,125,000 | 29.3% | 0.8% |
HOME POINT FINANCIAL CORPORATION | $250,000 | $1,075,000 | 330.0% | 0.7% |
Mr. Cooper ( Nationstar Mortgage ) | $395,000 | $990,000 | 150.6% | 0.7% |
MOVEMENT MORTGAGE, LLC | $940,000 | n/a | 0.6% | |
SUN WEST MORTGAGE COMPANY, INC. | $940,000 | n/a | 0.6% | |
NEWREZ LLC | $205,000 | $930,000 | 353.7% | 0.6% |
Truist Bank | $1,180,000 | $925,000 | -21.6% | 0.6% |
SouthPoint Bank | $175,000 | $905,000 | 417.1% | 0.6% |
NEW DAY FINANCIAL, LLC | $800,000 | $865,000 | 8.1% | 0.6% |
CRESCENT MORTGAGE COMPANY | $285,000 | $840,000 | 194.7% | 0.6% |
Nations Lending Corporation | $740,000 | $820,000 | 10.8% | 0.6% |
Bank of England | $135,000 | $625,000 | 363.0% | 0.4% |
HOMESIDE FINANCIAL, LLC | $595,000 | n/a | 0.4% | |
ALL IN | $1,155,000 | $555,000 | -51.9% | 0.4% |
Ameris Bank | $125,000 | $550,000 | 340.0% | 0.4% |
LAKEVIEW LOAN SERVICING, LLC | $340,000 | $515,000 | 51.5% | 0.4% |
STEARNS LENDING, LLC | $515,000 | n/a | 0.4% | |
First South Farm Credit, ACA | $945,000 | $505,000 | -46.6% | 0.3% |
Flagstar Bank, FSB | $385,000 | $485,000 | 26.0% | 0.3% |
PeoplesSouth Bank | $165,000 | $485,000 | 193.9% | 0.3% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $225,000 | $455,000 | 102.2% | 0.3% |
GMFS LLC | $1,190,000 | $450,000 | -62.2% | 0.3% |
CREDIT HUMAN FEDERAL CREDIT UNION | $230,000 | $435,000 | 89.1% | 0.3% |
North American Savings Bank, F.S.B. | $335,000 | $430,000 | 28.4% | 0.3% |
FirstBank | $1,030,000 | $420,000 | -59.2% | 0.3% |
MORTGAGE INVESTORS GROUP, INC. | $775,000 | $420,000 | -45.8% | 0.3% |
Carrington Mortgage Services, LLC | $75,000 | $395,000 | 426.7% | 0.3% |
VILLAGE CAPITAL & INVESTMENT LLC | $480,000 | $395,000 | -17.7% | 0.3% |
AMERICAN FINANCIAL RESOURCES, INC. | $85,000 | $385,000 | 352.9% | 0.3% |
ZILLOW HOME LOANS, LLC | $380,000 | n/a | 0.3% | |
TJC Mortgage, Inc. | $375,000 | n/a | 0.3% | |
Synovus Bank | $105,000 | $370,000 | 252.4% | 0.3% |
Fifth Third Bank | $365,000 | n/a | 0.3% | |
CMG MORTGAGE, INC. | $350,000 | $360,000 | 2.9% | 0.2% |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $295,000 | $350,000 | 18.6% | 0.2% |
Hamilton Mortgage Corporation | $195,000 | $345,000 | 76.9% | 0.2% |
MUTUAL OF OMAHA MORTGAGE, INC. | $790,000 | $340,000 | -57.0% | 0.2% |
MORTGAGE MANAGEMENT CONSULTANTS, INC. | $290,000 | n/a | 0.2% | |
BAYSHORE MORTGAGE FUNDING, LLC | $285,000 | n/a | 0.2% | |
NAVY FEDERAL CREDIT UNION | $435,000 | $280,000 | -35.6% | 0.2% |
BankPlus | $275,000 | n/a | 0.2% | |
CSL Financial, LLC | $275,000 | n/a | 0.2% | |
Barrington Bank & Trust Company, N.A. | $550,000 | $270,000 | -50.9% | 0.2% |
CERTAINTY HOME LOANS, LLC | $380,000 | $270,000 | -28.9% | 0.2% |
U.S. Bank | $255,000 | n/a | 0.2% | |
SOUTHPOINT FINANCIAL SERVICES, INC. | $245,000 | n/a | 0.2% | |
AMERICAN PACIFIC MORTGAGE CORPORATION | $225,000 | n/a | 0.2% | |
BancorpSouth Bank | $45,000 | $225,000 | 400.0% | 0.2% |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $225,000 | n/a | 0.2% | |
EMBRACE HOME LOANS, INC. | $215,000 | n/a | 0.1% | |
BETTER MORTGAGE CORPORATION | $205,000 | $205,000 | 0.0% | 0.1% |
JPMorgan Chase Bank | $195,000 | $205,000 | 5.1% | 0.1% |
NFM, INC. | $205,000 | n/a | 0.1% | |
RELIANCE FIRST CAPITAL, LLC | $205,000 | n/a | 0.1% | |
Tyndall Federal Credit Union | $565,000 | $205,000 | -63.7% | 0.1% |
PENTAGON FEDERAL CREDIT UNION | $150,000 | $200,000 | 33.3% | 0.1% |
UNION HOME MORTGAGE CORP. | $200,000 | n/a | 0.1% | |
TOP FLITE FINANCIAL, INC. | $190,000 | n/a | 0.1% | |
AMERICAN FINANCIAL NETWORK, INC. | $185,000 | n/a | 0.1% | |
PNC Bank | $65,000 | $180,000 | 176.9% | 0.1% |
ALLIED MORTGAGE GROUP, INC. | $175,000 | n/a | 0.1% | |
CLEARPATH LENDING | $505,000 | $175,000 | -65.3% | 0.1% |
FIRST COMMUNITY MORTGAGE, INC. | $175,000 | n/a | 0.1% | |
ENVOY MORTGAGE, LTD | $270,000 | $170,000 | -37.0% | 0.1% |
BBVA USA | $115,000 | $165,000 | 43.5% | 0.1% |
NATIONS DIRECT MORTGAGE, LLC | $165,000 | n/a | 0.1% | |
CHURCHILL MORTGAGE CORPORATION | $105,000 | $155,000 | 47.6% | 0.1% |
The Peoples Bank of Georgia | $155,000 | n/a | 0.1% | |
CCB Community Bank | $185,000 | $145,000 | -21.6% | 0.1% |
Northpointe Bank | $135,000 | n/a | 0.1% | |
PRIMARY RESIDENTIAL MORTGAGE, INC. | $135,000 | n/a | 0.1% | |
AMERICAN ADVISORS GROUP | $85,000 | $130,000 | 52.9% | 0.1% |
AMERICAN FINANCING CORPORATION | $115,000 | n/a | 0.1% | |
First Financial Bank | $105,000 | n/a | 0.1% | |
InterContinental Capital Group, Inc | $105,000 | n/a | 0.1% | |
MIDLAND MORTGAGE CORPORATION | $95,000 | n/a | 0.1% | |
OCEANSIDE MORTGAGE COMPANY | $145,000 | $95,000 | -34.5% | 0.1% |
River Bank & Trust | $85,000 | n/a | 0.1% | |
The First, A National Banking Association | $75,000 | n/a | 0.1% | |
ALABAMA CREDIT UNION | $55,000 | n/a | 0.0% | |
NexBank | $55,000 | n/a | 0.0% | |
Five Star Credit Union | $160,000 | $25,000 | -84.4% | 0.0% |
1st Franklin Financial Corporation | $45,000 | $15,000 | -66.7% | 0.0% |
Troy's top lender by overall market share is Renasant Bank, with 14.7% market share. In second place, with 8.7%, is Troy Bank and Trust Company, having originated $12,565,000 in loans. In third place, with 8.2%, is QUICKEN LOANS, LLC, having originated $11,895,000 in loans. In fourth place, with 6.1%, is CROSSCOUNTRY MORTGAGE, LLC, having originated $8,800,000 in loans. In fifth place, with 5.0%, is Southern States Bank, having originated $7,255,000 in loans.
Troy Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Troy (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $153,000 (9.4%) | $179,826 (5.1%) | 0.00 | 147 |
2018-02-01 | $150,975 (6.0%) | $175,994 (3.8%) | 0.00 | 156 |
2018-03-01 | $149,900 (1.3%) | $174,592 (-0.6%) | 0.00 | 165 |
2018-04-01 | $149,975 (5.3%) | $176,107 (1.0%) | 0.00 | 177 |
2018-05-01 | $149,600 (6.9%) | $175,343 (1.9%) | 0.00 | 179 |
2018-06-01 | $149,250 (0.2%) | $173,984 (0.1%) | 0.00 | 177 |
2018-07-01 | $149,900 (0.4%) | $173,395 (-1.1%) | 0.00 | 168 |
2018-08-01 | $152,250 (1.4%) | $175,733 (-4.1%) | 0.00 | 156 |
2018-09-01 | $149,900 (0.3%) | $174,705 (-5.5%) | 0.00 | 143 |
2018-10-01 | $151,750 (1.2%) | $189,760 (1.4%) | 0.00 | 146 |
2018-11-01 | $149,900 (-1.5%) | $187,182 (-0.5%) | 0.00 | 155 |
2018-12-01 | $139,900 (-9.6%) | $181,066 (-3.9%) | 0.00 | 141 |
2019-01-01 | $140,000 (-8.5%) | $180,336 (0.3%) | 0.00 | 146 |
2019-02-01 | $146,950 (-2.7%) | $181,433 (3.1%) | 0.00 | 145 |
2019-03-01 | $153,264 (2.2%) | $186,049 (6.6%) | 0.00 | 151 |
2019-04-01 | $158,350 (5.6%) | $185,494 (5.3%) | 0.00 | 158 |
2019-05-01 | $157,875 (5.5%) | $182,410 (4.0%) | 0.00 | 159 |
2019-06-01 | $154,900 (3.8%) | $182,508 (4.9%) | 0.00 | 153 |
2019-07-01 | $163,200 (8.9%) | $184,193 (6.2%) | 0.00 | 141 |
2019-08-01 | $163,486 (7.4%) | $185,132 (5.4%) | 0.00 | 139 |
2019-09-01 | $161,216 (7.6%) | $183,697 (5.2%) | 0.00 | 149 |
2019-10-01 | $159,225 (4.9%) | $180,719 (-4.8%) | 0.00 | 156 |
2019-11-01 | $149,950 (0.0%) | $179,644 (-4.0%) | 0.00 | 156 |
2019-12-01 | $149,850 (7.1%) | $178,285 (-1.5%) | 0.00 | 150 |
2020-01-01 | $149,000 (6.4%) | $169,005 (-6.3%) | 0.00 | 161 |
2020-02-01 | $150,000 (2.1%) | $173,101 (-4.6%) | 0.00 | 154 |
2020-03-01 | $153,700 (0.3%) | $170,461 (-8.4%) | 0.00 | 151 |
2020-04-01 | $157,000 (-0.9%) | $173,870 (-6.3%) | 0.00 | 141 |
2020-05-01 | $168,000 (6.4%) | $180,487 (-1.1%) | 0.00 | 136 |
2020-06-01 | $185,000 (19.4%) | $187,898 (3.0%) | 0.00 | 123 |
2020-07-01 | $174,925 (7.2%) | $188,376 (2.3%) | 0.00 | 115 |
2020-08-01 | $169,900 (3.9%) | $186,901 (1.0%) | 0.00 | 110 |
2020-09-01 | $169,288 (5.0%) | $190,405 (3.7%) | 0.00 | 108 |
2020-10-01 | $159,900 (0.4%) | $197,064 (9.0%) | 0.00 | 101 |
2020-11-01 | $159,900 (6.6%) | $191,150 (6.4%) | 0.00 | 93 |
2020-12-01 | $167,100 (11.5%) | $195,814 (9.8%) | 0.00 | 96 |
2021-01-01 | $169,700 (13.9%) | $196,740 (16.4%) | 0.00 | 101 |
2021-02-01 | $175,000 (16.7%) | $194,877 (12.6%) | 0.00 | 114 |
2021-03-01 | $179,375 (16.7%) | $194,450 (14.1%) | 0.00 | 102 |
2021-04-01 | $182,075 (16.0%) | $199,030 (14.5%) | 0.00 | 97 |
2021-05-01 | $179,000 (6.6%) | $195,313 (8.2%) | 0.00 | 89 |
2021-06-01 | $179,900 (-2.8%) | $205,944 (9.6%) | 0.00 | 83 |
2021-07-01 | $185,700 (6.2%) | $212,628 (12.9%) | 0.00 | 77 |
2021-08-01 | $208,900 (23.0%) | $228,664 (22.4%) | 0.00 | 92 |
2021-09-01 | $208,900 (23.4%) | $237,939 (25.0%) | 0.00 | 91 |
2021-10-01 | $209,750 (31.2%) | $237,094 (20.3%) | 0.00 | 83 |
2021-11-01 | $209,450 (31.0%) | $232,929 (21.9%) | 0.00 | 80 |
2021-12-01 | $205,725 (23.1%) | $228,236 (16.6%) | 0.00 | 77 |
2022-01-01 | $207,500 (22.3%) | $210,692 (7.1%) | 0.00 | 81 |
2022-02-01 | $199,000 (13.7%) | $208,909 (7.2%) | 0.00 | 87 |
2022-03-01 | $175,875 (-2.0%) | $193,076 (-0.7%) | 0.00 | 84 |
2022-04-01 | $180,000 (-1.1%) | $213,632 (7.3%) | 0.00 | 79 |
2022-05-01 | $200,800 (12.2%) | $213,790 (9.5%) | 0.00 | 70 |
2022-06-01 | $209,950 (16.7%) | $219,413 (6.5%) | 0.00 | 69 |
2022-07-01 | $201,000 (8.2%) | $220,937 (3.9%) | 0.00 | 73 |
2022-08-01 | $187,000 (-10.5%) | $238,347 (4.2%) | 0.00 | 85 |
2022-09-01 | $190,000 (-9.1%) | $248,541 (4.5%) | 0.00 | 89 |
2022-10-01 | $179,000 (-14.7%) | $247,276 (4.3%) | 0.00 | 90 |
2022-11-01 | $188,250 (-10.1%) | $230,794 (-0.9%) | 0.00 | 77 |
2022-12-01 | $196,200 (-4.6%) | $226,648 (-0.7%) | 0.00 | 76 |
2023-01-01 | $198,875 (-4.2%) | $225,523 (7.0%) | 0.00 | 75 |
2023-02-01 | $182,250 (-8.4%) | $217,160 (4.0%) | 0.00 | 70 |
Troy's median listing price comes in at 0% of the national average.
Troy's average listing price for 2023-02-01 was $217,160, a difference of $8,251 (4.0%) versus the prior year and $-8,363 versus the prior month.
For the 2023-02-01 period, Troy had 70 MLS listings, a difference of -5 listings (-7%) versus the prior month and -17 listings (-20%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Troy (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,608 sqft |
2018-02-01 | 0 days | 1,632 sqft |
2018-03-01 | 0 days | 1,632 sqft |
2018-04-01 | 0 days | 1,681 sqft |
2018-05-01 | 0 days | 1,709 sqft |
2018-06-01 | 0 days | 1,712 sqft |
2018-07-01 | 0 days | 1,717 sqft |
2018-08-01 | 0 days | 1,785 sqft |
2018-09-01 | 0 days | 1,744 sqft |
2018-10-01 | 0 days | 1,705 sqft |
2018-11-01 | 0 days | 1,666 sqft |
2018-12-01 | 0 days | 1,653 sqft |
2019-01-01 | 0 days | 1,664 sqft |
2019-02-01 | 0 days | 1,669 sqft |
2019-03-01 | 0 days | 1,682 sqft |
2019-04-01 | 0 days | 1,678 sqft |
2019-05-01 | 0 days | 1,702 sqft |
2019-06-01 | 0 days | 1,704 sqft |
2019-07-01 | 0 days | 1,746 sqft |
2019-08-01 | 0 days | 1,743 sqft |
2019-09-01 | 0 days | 1,736 sqft |
2019-10-01 | 0 days | 1,731 sqft |
2019-11-01 | 0 days | 1,707 sqft |
2019-12-01 | 0 days | 1,676 sqft |
2020-01-01 | 0 days | 1,691 sqft |
2020-02-01 | 0 days | 1,696 sqft |
2020-03-01 | 0 days | 1,700 sqft |
2020-04-01 | 0 days | 1,724 sqft |
2020-05-01 | 0 days | 1,757 sqft |
2020-06-01 | 0 days | 1,793 sqft |
2020-07-01 | 0 days | 1,818 sqft |
2020-08-01 | 0 days | 1,777 sqft |
2020-09-01 | 0 days | 1,711 sqft |
2020-10-01 | 0 days | 1,700 sqft |
2020-11-01 | 0 days | 1,695 sqft |
2020-12-01 | 0 days | 1,700 sqft |
2021-01-01 | 0 days | 1,658 sqft |
2021-02-01 | 0 days | 1,666 sqft |
2021-03-01 | 0 days | 1,644 sqft |
2021-04-01 | 0 days | 1,688 sqft |
2021-05-01 | 0 days | 1,647 sqft |
2021-06-01 | 0 days | 1,802 sqft |
2021-07-01 | 0 days | 1,798 sqft |
2021-08-01 | 0 days | 1,760 sqft |
2021-09-01 | 0 days | 1,830 sqft |
2021-10-01 | 0 days | 1,813 sqft |
2021-11-01 | 0 days | 1,784 sqft |
2021-12-01 | 0 days | 1,699 sqft |
2022-01-01 | 0 days | 1,658 sqft |
2022-02-01 | 0 days | 1,693 sqft |
2022-03-01 | 0 days | 1,665 sqft |
2022-04-01 | 0 days | 1,682 sqft |
2022-05-01 | 0 days | 1,666 sqft |
2022-06-01 | 0 days | 1,696 sqft |
2022-07-01 | 0 days | 1,640 sqft |
2022-08-01 | 0 days | 1,637 sqft |
2022-09-01 | 0 days | 1,605 sqft |
2022-10-01 | 0 days | 1,574 sqft |
2022-11-01 | 0 days | 1,668 sqft |
2022-12-01 | 0 days | 1,660 sqft |
2023-01-01 | 0 days | 1,640 sqft |
2023-02-01 | 0 days | 1,537 sqft |
Troy's median square footage for active listings during the 2023-02-01 period was 1,537 sqft. One year prior, the average listing was 1,693 sqft.
Troy, AL Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 415 | $80,645,000 | $194,325 |
Refi | 251 | $44,935,000 | $179,024 |
Cash Out Refi | 103 | $17,765,000 | $172,476 |
Home Improvement | 18 | $1,400,000 | $77,778 |
Other | 6 | $360,000 | $60,000 |
Troy's most frequently cited loan purpose was Home Purchase, with 415 originations. The 2nd most popular reason was Refi, with 251 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 257 | $48,375,000 | $188,230 |
3-4% | 232 | $39,040,000 | $168,276 |
<2.5% | 121 | $23,505,000 | $194,256 |
4-5% | 69 | $10,715,000 | $155,290 |
Over 8% | 35 | $2,205,000 | $63,000 |
5-6% | 31 | $3,795,000 | $122,419 |
6-7% | 15 | $1,125,000 | $75,000 |
7-8% | 13 | $1,065,000 | $81,923 |
During 2021, Troy's most frequently originated rate bucket was 2.5-3%, with 257 originations.
Loan Sizing (Troy, AL MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 375 | $56,015,000 | $149,373 |
$200k-400k | 210 | $55,470,000 | $264,143 |
$100,000 or less | 185 | $11,535,000 | $62,351 |
$400k-600k | 16 | $7,420,000 | $463,750 |
$600k-1000k | 4 | $2,870,000 | $717,500 |
$Over $1MM | 3 | $11,795,000 | $3,931,667 |
Troy's loan sizing saw the bucket of loans from $100k-200k with 375 originations, totaling $56,015,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 393 | $72,205,000 | $183,728 |
60-80% | 225 | $35,705,000 | $158,689 |
40-60% | 72 | $10,610,000 | $147,361 |
20-40% | 32 | $2,540,000 | $79,375 |
Over 100% | 17 | $4,175,000 | $245,588 |
Under 20% | 10 | $240,000 | $24,000 |
Troy's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 393 originations, totaling $72,205,000 in origination value.