Troy Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Troy averaged
6.14%
for the week of 2024-10-03, compared to the national average of
6.12% for the same period.
The average rate for the prior week (2024-09-26) was
6.2% and
one month ago for the week of 2024-08-29, the
average rate was 6.47%.
Troy's average rate one year ago was 7.23%.
For refis of the same type during the week of 2024-10-03, the average rate
was 6.62%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-03 | 6.12% |
Troy 30 Year Fixed Rate | 2024-10-03 | 6.14% |
Troy 30 Year Fixed Rate Refi | 2024-10-03 | 6.62% |
Troy 15 Year Fixed Rate | 2024-10-03 | 5.45% |
Troy 15 Year Fixed Rate Refi | 2024-10-03 | 5.55% |
Troy 30 Year FHA | 2024-10-03 | 5.76% |
Troy 30 Year FHA Refi | 2024-10-03 | 5.99% |
Troy 30 Year USDA | 2024-10-03 | 6.07% |
Troy 30 Year USDA Refi | 2024-10-03 | 6.17% |
Troy 30 Year VA | 2024-10-03 | 5.6% |
Troy 30 Year VA Refi | 2024-10-03 | 5.4% |
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 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. 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 | $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 |
2024-03-01 | $220,950 (16.9%) | $264,261 (19.3%) | 0.00 | 116 |
2024-04-01 | $239,350 (10.3%) | $275,382 (20.9%) | 0.00 | 115 |
2024-05-01 | $240,125 (6.8%) | $281,726 (20.1%) | 0.00 | 115 |
2024-06-01 | $239,000 (10.6%) | $286,896 (26.6%) | 0.00 | 115 |
2024-07-01 | $247,250 (17.8%) | $288,964 (30.8%) | 0.00 | 118 |
2024-08-01 | $248,250 (24.2%) | $278,395 (23.4%) | 0.00 | 127 |
2024-09-01 | $249,975 (25.1%) | $287,777 (32.2%) | 0.00 | 118 |
Troy's median listing price comes in at 0% of the national average.
Troy's average listing price for 2024-09-01 was $287,777, a difference of $70,133 (32.2%) versus the prior year and $9,382 versus the prior month.
For the 2024-09-01 period, Troy had 118 MLS listings, a difference of -9 listings (-7%) versus the prior month and 14 listings (13%) 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 | 1,677 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 |
2024-03-01 | 0 days | 1,787 sqft |
2024-04-01 | 0 days | 1,802 sqft |
2024-05-01 | 0 days | 1,787 sqft |
2024-06-01 | 0 days | 1,820 sqft |
2024-07-01 | 0 days | 1,949 sqft |
2024-08-01 | 0 days | 1,844 sqft |
2024-09-01 | 0 days | 1,846 sqft |
Troy's median square footage for active listings during the 2024-09-01 period was 1,846 sqft. One year prior, the average listing was 1,688 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.