The Best Mortgage Lenders in Troy, MO
Compare verified mortgage lenders serving Troy, Missouri. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Troy
Featured Mortgage Lenders
USA Mortgage
USA Mortgage
USA Mortgage is a top-rated regional lender based in St. Louis with over two decades of experience serving Troy and surrounding areas. They are highly regarded for their competitive rates, personalized service, and extensive loan options, including specialized programs for first-time homebuyers. With a strong local presence and numerous positive reviews highlighting their responsiveness and expertise, they consistently rank among Missouri's best mortgage providers.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a nationally recognized lender with a strong local office in St. Louis that actively serves Troy homebuyers. Known for exceptional customer service and fast loan processing, they offer a wide range of mortgage products and have built a reputation for transparency and reliability. Their high ratings and extensive review count reflect consistent satisfaction among Missouri clients, making them a trusted choice for purchase and refinance loans.
Loan Types:
Caliber Home Loans
Caliber Home Loans
Caliber Home Loans is a reputable national lender with a significant presence in Missouri, including service to Troy residents. They excel in providing flexible loan solutions and competitive rates, supported by a user-friendly digital experience. With a focus on customer education and support, Caliber has garnered strong reviews for their efficient processes and knowledgeable loan officers, making them a solid option for both new and experienced homebuyers in the region.
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Frequently Asked Questions
Common questions about mortgage lending in Troy, MO
What are the current average mortgage rates for homebuyers in Troy, MO?
Mortgage rates in Troy typically align with national averages but can be slightly lower due to the area's competitive lending market and lower cost of living. As of recent data, 30-year fixed rates in Troy generally range from 6.5% to 7.25%, though this varies by lender, credit score, and loan type. It's best to compare rates from local credit unions like Peoples Savings Bank and regional lenders who understand the Troy market.
Are there any first-time homebuyer programs specifically available in Troy, MO?
Yes, Troy homebuyers can access Missouri's statewide FIRST Place program, which offers competitive interest rates and down payment assistance. Additionally, Lincoln County offers local programs through community development organizations that provide closing cost assistance for qualified buyers. These programs are particularly valuable in Troy's affordable housing market where median home prices remain below state averages.
How does Troy's rural location affect mortgage lending options?
Troy's designation as a rural area makes many buyers eligible for USDA loans, which offer 100% financing with no down payment required. This is particularly advantageous given Troy's location in Lincoln County, which qualifies for USDA rural housing programs. Several local lenders specialize in these loans and understand the specific property requirements for rural areas around Troy.
What unique closing costs should I expect when buying a home in Troy, MO?
Troy homebuyers should budget for standard Missouri closing costs plus Lincoln County-specific fees including transfer taxes, recording fees, and potential rural property inspections. Title insurance rates in Troy are regulated by Missouri law, providing consistency across lenders. Some Troy neighborhoods may also have specific homeowners association fees that lenders will factor into your debt-to-income ratio.
How competitive is Troy's housing market for mortgage pre-approvals?
Troy's housing market remains moderately competitive, making strong pre-approval essential when making offers. Local lenders familiar with Troy's market can often provide quicker underwriting and more flexible terms than national banks. Given Troy's steady growth and affordable prices, having a pre-approval from a lender experienced with Lincoln County properties can give you a significant advantage over cash-offer competitors.
Why Choose a Mortgage Lender in Troy?
Local Market Knowledge
Lenders who understand Troy's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Missouri.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Troy and get competitive rates on your home loan.