Troy Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Troy averaged 6.99% for the week of 2024-03-21, compared to the national average of 6.87% for the same period.

The average rate for the prior week (2024-03-14) was 6.66% and one month ago for the week of 2024-02-15, the average rate was 6.69%.

Troy's average rate one year ago was 6.32%.

For refis of the same type during the week of 2024-03-21, the average rate was 7.27%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-03-21 6.87%
Troy 30 Year Fixed Rate 2024-03-21 6.99%
Troy 30 Year Fixed Rate Refi 2024-03-21 7.27%
Troy 15 Year Fixed Rate 2024-03-21 6.11%
Troy 15 Year Fixed Rate Refi 2024-03-21 6.81%
Troy 30 Year FHA 2024-03-21 6.57%
Troy 30 Year FHA Refi 2024-03-21 6.7%
Troy 30 Year USDA 2024-03-21 6.47%
Troy 30 Year USDA Refi 2024-03-21 6.77%
Troy 30 Year VA 2024-03-21 6.74%
Troy 30 Year VA Refi 2024-03-21 6.34%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Troy, AL.

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.).

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Assurance Financial Group, L.L.C. 19 6.71% $4,963
Renasant Bank 10 6.75% $5,528
Trustmark National Bank 7 7.11% $7,294
CROSSCOUNTRY MORTGAGE, LLC 6 6.25% $7,863
Wells Fargo Bank 4 7.16% $4,133
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 7.44% $4,004
MAX Credit Union 4 6.47% $4,800
MORTGAGE INVESTORS GROUP, INC. 4 3.31% $3,477
DHI MORTGAGE COMPANY, LTD. 3 5.79% $2,330
QUICKEN LOANS, LLC 3 6.63% $7,856
UNION HOME MORTGAGE CORP. 3 6.67% $6,426
ENVOY MORTGAGE, LTD 3 6.79% $6,915
Regions Bank 2 6.19% $4,450
STOCKTON MORTGAGE CORPORATION 2 6.75% $6,817
Troy Bank and Trust Company 2 8.75% $1,819
AVADIAN 2 7.13% $6,856
Mortgage Research Center, LLC 2 7.06% $1,057
21ST MORTGAGE CORPORATION 2 8.30% $6,370
GMFS LLC 2 7.19% $3,176
GUILD MORTGAGE COMPANY 2 7.50% $3,281
ServisFirst Bank 1 7.99% $785
CHURCHILL MORTGAGE CORPORATION 1 6.25% $6,141
UNITED WHOLESALE MORTGAGE, LLC 1 7.30% $4,888
BankPlus 1 7.13% $5,855
JPMorgan Chase Bank 1 6.88% $3,512
USAA Federal Savings Bank 1 6.13% $2,721
NAVY FEDERAL CREDIT UNION 1 4.88% $2,414
NEWREZ LLC 1 5.99% $5,713
CMG MORTGAGE, INC. 1 5.99% $4,645
INTERLINC MORTGAGE SERVICES, LLC 1 6.13% $5,585
River Bank & Trust 1 7.75% $3,714

Troy Average Closing Costs & Other Stats

Troy, AL's 31 lenders originated 415 loans during 2023. The total origination value was $75,955,000, with an average loan value of $183,024.

Troy's average closing costs are $5,001.

The top Troy lender as defined by loan originations is Assurance Financial Group, L.L.C., with 19 loans originated. Their average total fees are $4,963, which is $564 lower than the next largest lender, Renasant Bank.

The lowest fee Troy lenders (with over 10 loans originated) are Assurance Financial Group, L.L.C. ($4,963), Renasant Bank ($5,528), .

The lowest rate Troy lenders (with over 10 loans originated) are Assurance Financial Group, L.L.C. (6.71%), Renasant Bank (6.75%), .

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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
Troy Bank and Trust Company $26,435,000 $9,815,000 -62.9% 12.9%
Assurance Financial Group, L.L.C. $3,785,000 $9,750,000 157.6% 12.8%
Renasant Bank $6,350,000 $4,200,000 -33.9% 5.5%
CROSSCOUNTRY MORTGAGE, LLC $6,825,000 $3,330,000 -51.2% 4.4%
QUICKEN LOANS, LLC $7,080,000 $3,260,000 -54.0% 4.3%
21ST MORTGAGE CORPORATION $2,595,000 $3,010,000 16.0% 4.0%
Trustmark National Bank $4,240,000 $2,590,000 -38.9% 3.4%
DHI MORTGAGE COMPANY, LTD. $275,000 $2,475,000 800.0% 3.3%
UNION HOME MORTGAGE CORP. $590,000 $2,420,000 310.2% 3.2%
GUILD MORTGAGE COMPANY $3,340,000 $2,355,000 -29.5% 3.1%
Guardian Credit Union $1,690,000 $1,870,000 10.7% 2.5%
Mortgage Research Center, LLC $2,905,000 $1,790,000 -38.4% 2.4%
MAX Credit Union $2,830,000 $1,515,000 -46.5% 2.0%
PENNYMAC LOAN SERVICES, LLC $315,000 $1,350,000 328.6% 1.8%
MORTGAGE INVESTORS GROUP, INC. $3,410,000 $1,340,000 -60.7% 1.8%
GMFS LLC $1,795,000 $1,325,000 -26.2% 1.7%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $4,570,000 $1,130,000 -75.3% 1.5%
MORTGAGE SOLUTIONS OF COLORADO, LLC $1,100,000 n/a 1.4%
ENVOY MORTGAGE, LTD $175,000 $1,035,000 491.4% 1.4%
CMG MORTGAGE, INC. $1,600,000 $1,025,000 -35.9% 1.3%
UNITED WHOLESALE MORTGAGE, LLC $1,915,000 $970,000 -49.3% 1.3%
NAVY FEDERAL CREDIT UNION $990,000 $955,000 -3.5% 1.3%
Regions Bank $3,265,000 $870,000 -73.4% 1.1%
ALL IN $1,030,000 $820,000 -20.4% 1.1%
AMERICAN FINANCIAL RESOURCES, INC. $180,000 $725,000 302.8% 1.0%
Wells Fargo Bank $2,350,000 $625,000 -73.4% 0.8%
AVADIAN $610,000 n/a 0.8%
First Citizens Bank $1,735,000 $605,000 -65.1% 0.8%
Ameris Bank $675,000 $590,000 -12.6% 0.8%
USAA Federal Savings Bank $390,000 $510,000 30.8% 0.7%
TRIAD FINANCIAL SERVICES, INC. $330,000 $480,000 45.5% 0.6%
LOANDEPOT.COM, LLC $580,000 $425,000 -26.7% 0.6%
PRIMELENDING, A PLAINSCAPITAL COMPANY $430,000 $415,000 -3.5% 0.5%
CREDIT HUMAN FEDERAL CREDIT UNION $85,000 $410,000 382.4% 0.5%
MOVEMENT MORTGAGE, LLC $240,000 $405,000 68.8% 0.5%
NEW DAY FINANCIAL, LLC $630,000 $390,000 -38.1% 0.5%
INTERLINC MORTGAGE SERVICES, LLC $370,000 n/a 0.5%
STOCKTON MORTGAGE CORPORATION $370,000 n/a 0.5%
River Bank & Trust $415,000 $360,000 -13.3% 0.5%
New Century Bank $345,000 n/a 0.5%
SWBC MORTGAGE CORPORATION $315,000 n/a 0.4%
BancorpSouth $230,000 $295,000 28.3% 0.4%
First Federal Bank $145,000 $290,000 100.0% 0.4%
Five Star Credit Union $135,000 $285,000 111.1% 0.4%
NEWREZ LLC $145,000 $270,000 86.2% 0.4%
The Federal Savings Bank $265,000 n/a 0.3%
Carrington Mortgage Services, LLC $135,000 $260,000 92.6% 0.3%
GUARANTEED RATE, INC. $245,000 n/a 0.3%
PNC Bank $710,000 $240,000 -66.2% 0.3%
BECKAM FUNDING CORP. $235,000 n/a 0.3%
SeaTrust Mortgage Company $225,000 n/a 0.3%
CHURCHILL MORTGAGE CORPORATION $215,000 n/a 0.3%
GUARANTEED RATE AFFINITY, LLC $195,000 n/a 0.3%
Barrington Bank & Trust Company, N.A. $185,000 n/a 0.2%
Mr. Cooper ( Nationstar Mortgage ) $290,000 $185,000 -36.2% 0.2%
JPMorgan Chase Bank $75,000 $165,000 120.0% 0.2%
Marion Bank & Trust Company $165,000 n/a 0.2%
VANDERBILT MORTGAGE AND FINANCE, INC. $220,000 $165,000 -25.0% 0.2%
BankPlus $75,000 $155,000 106.7% 0.2%
First Community Bank of Central Alabama $145,000 n/a 0.2%
Alabama One Credit Union $135,000 n/a 0.2%
Equity Prime Mortgage LLC $135,000 n/a 0.2%
AMERISAVE MORTGAGE CORPORATION $550,000 $130,000 -76.4% 0.2%
USAlliance Federal Credit Union $125,000 n/a 0.2%
FREEDOM MORTGAGE CORPORATION $380,000 $115,000 -69.7% 0.2%
Metro City Bank $105,000 n/a 0.1%
BROKER SOLUTIONS, INC. $540,000 $95,000 -82.4% 0.1%
CCB Community Bank $95,000 n/a 0.1%
FINANCE OF AMERICA REVERSE LLC $135,000 $95,000 -29.6% 0.1%
Bank of America $85,000 n/a 0.1%
ServisFirst Bank $65,000 n/a 0.1%
AMERIFIRST BANK $55,000 n/a 0.1%
Discover Bank $55,000 n/a 0.1%
PeoplesSouth Bank $510,000 $55,000 -89.2% 0.1%
Flagstar Bank, FSB $70,000 $45,000 -35.7% 0.1%
Figure Lending LLC $45,000 $35,000 -22.2% 0.0%

Troy's top lender by overall market share is Troy Bank and Trust Company, with 12.9% market share. In second place, with 12.8%, is Assurance Financial Group, L.L.C., having originated $9,750,000 in loans. In third place, with 5.5%, is Renasant Bank, having originated $4,200,000 in loans. In fourth place, with 4.4%, is CROSSCOUNTRY MORTGAGE, LLC, having originated $3,330,000 in loans. In fifth place, with 4.3%, is QUICKEN LOANS, LLC, having originated $3,260,000 in loans.


Troy Housing Market Trends (Median, Average Prices & Listing Count)

Realtor.com - Troy (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date 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 $152,857 (2.0%) $185,935 (6.5%) 0.00 151
2019-04-01 $157,875 (5.3%) $185,380 (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 $149,900 (0.0%) $179,352 (-4.2%) 0.00 156
2019-12-01 $149,700 (7.0%) $177,989 (-1.7%) 0.00 149
2020-01-01 $148,750 (6.3%) $168,647 (-6.5%) 0.00 160
2020-02-01 $149,950 (2.0%) $172,797 (-4.8%) 0.00 153
2020-03-01 $153,700 (0.6%) $170,461 (-8.3%) 0.00 151
2020-04-01 $157,000 (-0.6%) $173,870 (-6.2%) 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 (6.7%) $191,150 (6.6%) 0.00 93
2020-12-01 $167,100 (11.6%) $195,814 (10.0%) 0.00 96
2021-01-01 $169,700 (14.1%) $196,740 (16.7%) 0.00 101
2021-02-01 $175,000 (16.7%) $194,877 (12.8%) 0.00 114
2021-03-01 $179,500 (16.8%) $195,596 (14.8%) 0.00 102
2021-04-01 $182,200 (16.1%) $199,359 (14.7%) 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 $186,400 (6.6%) $214,058 (13.6%) 0.00 77
2021-08-01 $208,900 (23.0%) $228,664 (22.4%) 0.00 92
2021-09-01 $208,900 (23.4%) $237,507 (24.7%) 0.00 91
2021-10-01 $209,750 (31.2%) $237,094 (20.3%) 0.00 83
2021-11-01 $209,600 (31.1%) $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 (-1.3%) 0.00 84
2022-04-01 $181,750 (-0.3%) $213,632 (7.2%) 0.00 79
2022-05-01 $200,800 (12.2%) $214,747 (10.0%) 0.00 70
2022-06-01 $209,950 (16.7%) $219,413 (6.5%) 0.00 69
2022-07-01 $209,000 (12.1%) $223,211 (4.3%) 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 (4.7%) 0.00 89
2022-10-01 $179,000 (-14.7%) $247,276 (4.3%) 0.00 90
2022-11-01 $188,250 (-10.2%) $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 $194,500 (-2.3%) $217,160 (4.0%) 0.00 70
2023-03-01 $189,000 (7.5%) $221,593 (14.8%) 0.00 82
2023-04-01 $217,000 (19.4%) $227,816 (6.6%) 0.00 84
2023-05-01 $224,950 (12.0%) $234,639 (9.3%) 0.00 86
2023-06-01 $216,175 (3.0%) $226,606 (3.3%) 0.00 86
2023-07-01 $209,950 (0.5%) $220,849 (-1.1%) 0.00 93
2023-08-01 $199,900 (6.9%) $225,523 (-5.4%) 0.00 97
2023-09-01 $199,900 (5.2%) $217,644 (-12.4%) 0.00 104
2023-10-01 $211,250 (18.0%) $249,305 (0.8%) 0.00 105
2023-11-01 $219,725 (16.7%) $307,301 (33.2%) 0.00 91
2023-12-01 $222,000 (13.2%) $313,842 (38.5%) 0.00 86
2024-01-01 $234,045 (17.7%) $311,272 (38.0%) 0.00 99
2024-02-01 $224,950 (15.7%) $270,203 (24.4%) 0.00 116
Troy's median listing price for 2024-02-01 was $224,950, a difference of $30,450 (15.7%) versus the prior year and $-9,095 versus the prior month.

Troy's median listing price comes in at 0% of the national average.

Troy's average listing price for 2024-02-01 was $270,203, a difference of $53,043 (24.4%) versus the prior year and $-41,069 versus the prior month.

For the 2024-02-01 period, Troy had 116 MLS listings, a difference of 17 listings (17%) versus the prior month and 46 listings (66%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Troy (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date 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 1,677 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 1,665 sqft
2020-01-01 0 days 1,683 sqft
2020-02-01 0 days 1,691 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 1,645 sqft
2021-04-01 0 days 1,693 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 1,770 sqft
2021-09-01 0 days 1,825 sqft
2021-10-01 0 days 1,813 sqft
2021-11-01 0 days 1,800 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 1,689 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 1,586 sqft
2023-03-01 0 days 1,550 sqft
2023-04-01 0 days 1,765 sqft
2023-05-01 0 days 1,795 sqft
2023-06-01 0 days 1,704 sqft
2023-07-01 0 days 1,640 sqft
2023-08-01 0 days 1,679 sqft
2023-09-01 0 days 1,688 sqft
2023-10-01 0 days 1,661 sqft
2023-11-01 0 days 1,700 sqft
2023-12-01 0 days 1,802 sqft
2024-01-01 0 days 1,869 sqft
2024-02-01 0 days 1,800 sqft
Troy's median listing age (time on market) for 2024-02-01 was 0 days.

Troy's median square footage for active listings during the 2024-02-01 period was 1,800 sqft. One year prior, the average listing was 1,586 sqft.

Troy, AL Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 293 $56,075,000 $191,382
Cash Out Refi 47 $6,615,000 $140,745
Refi 45 $10,565,000 $234,778
Home Improvement 16 $1,180,000 $73,750
Other 14 $1,520,000 $108,571

Troy's most frequently cited loan purpose was Home Purchase, with 293 originations. The 2nd most popular reason was Cash Out Refi, with 47 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 133 $29,405,000 $221,090
Over 8% 107 $11,985,000 $112,009
7-8% 102 $20,210,000 $198,137
5-6% 47 $10,105,000 $215,000
4-5% 4 $1,090,000 $272,500
<2.5% 3 $645,000 $215,000
3-4% 1 $85,000 $85,000

During 2023, Troy's most frequently originated rate bucket was 6-7%, with 133 originations.

Loan Sizing (Troy, AL MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 156 $23,510,000 $150,705
$200k-400k 116 $31,620,000 $272,586
$100,000 or less 115 $6,685,000 $58,130
$400k-600k 24 $11,240,000 $468,333
$600k-1000k 4 $2,900,000 $725,000

Troy's loan sizing saw the bucket of loans from $100k-200k with 156 originations, totaling $23,510,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 212 $45,930,000 $216,651
60-80% 90 $16,710,000 $185,667
40-60% 38 $5,220,000 $137,368
20-40% 24 $2,170,000 $90,417
Under 20% 20 $580,000 $29,000
Over 100% 7 $1,725,000 $246,429

Troy's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 212 originations, totaling $45,930,000 in origination value.