Compare mortgage rates and fees for leading lenders in Troy, NY. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Troy.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Troy. Plus, shopping lenders is free and there is no obligation.
December 11, 2019
The current average rate for a 30 year fixed rate mortgage in Troy is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
The median home value for Troy, NY (Rensselaer County) is $203,448
The median household income for Troy, NY (Rensselaer County) is $65,097
Based on current mortgage rates and a 10% down payment, you need to make $37,746 per year to buy the median priced home in Troy
The home price you can afford to buy based on household income in Troy is 172% of the median home value which means housing prices are average
Troy (Rensselaer County) ranks 42 out of 62 counties in New York and 2,150 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Troy, NY is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Troy (Rensselaer County) below.
Conforming loan limits for Troy, NY
FHA loan limits for Troy, NY
VA loan limits for Troy, NY
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index