Troy Mortgage Rates & Closing Costs

  • JUMP TO:
  • Trends
  • Rates vs. Fees
  • Top Lenders
  • Market Share
  • Market Conditions & Pricing
  • Time on Market/Property Size
  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Troy averaged 6.32% for the week of 2024-12-12, compared to the national average of 6.6% for the same period.

    The average rate for the prior week (2024-12-05) was 6.41% and one month ago for the week of 2024-11-07, the average rate was 6.81%.

    Troy's average rate one year ago was 6.95%.

    For refis of the same type during the week of 2024-12-12, the average rate was 7.2%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-12-12 6.6%
    Troy 30 Year Fixed Rate 2024-12-12 6.32%
    Troy 30 Year Fixed Rate Refi 2024-12-12 7.2%
    Troy 15 Year Fixed Rate 2024-12-12 5.74%
    Troy 15 Year Fixed Rate Refi 2024-12-12 5.94%
    Troy 30 Year FHA 2024-12-12 5.95%
    Troy 30 Year FHA Refi 2024-12-12 6.38%
    Troy 30 Year USDA 2024-12-12 6.4%
    Troy 30 Year USDA Refi 2024-12-12 6.3%
    Troy 30 Year VA 2024-12-12 6.28%
    Troy 30 Year VA Refi 2024-12-12 6.28%
    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
    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
    2024-10-01 $266,370 (26.1%) $300,833 (20.7%) 0.00 122
    2024-11-01 $247,950 (12.9%) $284,288 (-7.5%) 0.00 125
    Troy's median listing price for 2024-11-01 was $247,950, a difference of $28,225 (12.9%) versus the prior year and $-18,420 versus the prior month.

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

    Troy's average listing price for 2024-11-01 was $284,288, a difference of $-23,013 (-7.5%) versus the prior year and $-16,545 versus the prior month.

    For the 2024-11-01 period, Troy had 125 MLS listings, a difference of 3 listings (2%) versus the prior month and 34 listings (37%) 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
    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
    2024-10-01 0 days 1,833 sqft
    2024-11-01 0 days 1,810 sqft
    Troy's median listing age (time on market) for 2024-11-01 was 0 days.

    Troy's median square footage for active listings during the 2024-11-01 period was 1,810 sqft. One year prior, the average listing was 1,700 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.