The Best Mortgage Lenders in Troy, NC
Compare verified mortgage lenders serving Troy, North Carolina. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Troy
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage
Movement Mortgage is a top-rated national lender with a strong presence in North Carolina, known for its competitive rates, efficient online application process, and exceptional customer service. They specialize in a wide range of loan products and have a reputation for closing loans quickly, often in as little as 15 days. Their local Charlotte office ensures personalized support for clients in Troy and surrounding areas, backed by hundreds of positive reviews highlighting their responsiveness and transparency.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a highly reputable lender with deep roots in the Carolinas, offering tailored mortgage solutions and competitive rates. They are praised for their dedicated loan officers who provide hands-on guidance throughout the homebuying process, from application to closing. With a focus on community involvement and customer satisfaction, Fairway has built a strong track record of helping borrowers in Troy and nearby regions achieve their homeownership goals, supported by numerous five-star reviews.
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New American Funding
New American Funding
New American Funding is a nationally recognized lender with a robust local presence in Charlotte, serving Troy residents with a variety of flexible loan options and innovative technology tools. They are known for their commitment to diversity and inclusion, offering specialized programs for first-time homebuyers and underserved communities. Customers frequently highlight their responsive service, competitive rates, and smooth closing experiences, making them a reliable choice for mortgages in the Troy area.
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Frequently Asked Questions
Common questions about mortgage lending in Troy, NC
What are the current mortgage rates like in Troy, NC, and how do they compare to state or national averages?
Mortgage rates in Troy typically align closely with national averages, but local lenders may offer competitive rates due to the area's lower cost of living and property values. It's common to see rates slightly more favorable than in larger North Carolina metro areas like Charlotte or Raleigh. Shopping with local credit unions, such as Members Credit Union or State Employees' Credit Union (SECU), which have strong presences in Montgomery County, can often yield the best terms.
Are there any down payment assistance or first-time homebuyer programs specifically for Troy, NC, residents?
Yes, Troy homebuyers can access statewide programs like the NC Home Advantage Mortgage™, which offers down payment assistance up to 5% of the loan amount, and the NC 1st Home Advantage Down Payment, which provides $8,000 in assistance. Additionally, the USDA Rural Development loan is a popular option in Troy and Montgomery County, as the area qualifies for 100% financing with no down payment, making homeownership more accessible.
How does the appraisal process work in Troy given its rural setting and mix of older and newer homes?
Appraisals in Troy require appraisers familiar with Montgomery County's unique market, where comparisons can be challenging due to fewer recent sales and diverse property types (from historic homes to newer constructions). Lenders will often use appraisers from the Albemarle or Asheboro areas who understand valuing properties with larger land parcels. This can sometimes lead to longer turnaround times but ensures a fair market valuation reflective of local conditions.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Troy?
Montgomery County property taxes are relatively low, with a rate of approximately 0.74% of assessed value, which positively impacts affordability. However, due to Troy's rural location and older housing stock, lenders may require thorough inspections and potentially higher hazard insurance premiums, especially for homes with well/septic systems or wood-burning stoves. Factoring in these costs early in your budget is crucial for an accurate payment estimate.
Are there local lenders in Troy who specialize in mortgages for agricultural or large land parcel properties?
Absolutely. Given Troy's location in a more rural county, local lenders like First Bank and Montgomery Bank have expertise in financing properties with acreage, barns, or agricultural potential. They understand how to evaluate land value and are familiar with USDA loans, which are highly relevant here. Working with these local institutions can streamline the process for non-standard properties compared to large national banks.
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 North Carolina.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Troy and get competitive rates on your home loan.