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Troy

Compare Current Troy, New York Mortgage Rates

Compare Troy, NY mortgage rates and fees from top lenders. 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 lowest 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.

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Troy, NY Mortgage Rates as of May 23, 2022
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Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Troy, NY Mortgage Rates

May 23, 2022

Current mortgage rates in Troy, NY are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Troy, NY Rates
National
Average
Comparison
30 Year Fixed Rate
%
5.250%
15 Year Fixed Rate
%
4.430%
5/1 Adjustable Rate Mortgage
%
4.080%

How Affordable is Housing in Troy, New York?

Below we provide helpful information on the real estate market, home prices and housing affordability in Troy. Understand how much you need to earn to afford a home in Troy, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Troy fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Troy is right for you.

The median home value for Troy, NY (Rensselaer County) is $242,967

Based on current mortgage rates and a 10% down payment, you need to make $39,809 per year to buy the median priced home in Troy

With this income, you could qualify for a $218,670 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Troy is $922

The median household income for Troy, NY (Rensselaer County) is $77,362

Based on this income, you can afford a home valued at approximately $472,165

The home price you can afford to buy based on household income in Troy is 194% of the median home value which means housing prices are average. Troy (Rensselaer County) ranks 40 out of 62 counties in New York and 1,845 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

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Loan Limits for Troy, New York

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

1 unit: $647,200
2 units: $828,700
3 units: $1,001,650
4 units: $1,244,850

FHA loan limits for Troy, NY

1 unit: $420,680
2 units: $538,650
3 units: $651,050
4 units: $809,150

VA loan limits for Troy, NY

1 unit: $647,200

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