The Best Mortgage Lenders in Troy, TX
Compare verified mortgage lenders serving Troy, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Troy
Featured Mortgage Lenders
First National Bank of Central Texas - Troy Branch
First National Bank of Central Texas
First National Bank of Central Texas maintains a strong physical presence in Troy with their local branch, offering personalized mortgage services with deep community roots. As a community bank founded in 1999, they provide the advantage of local decision-making and relationship-based lending. Customers consistently praise their responsive service, competitive rates, and the ability to work directly with experienced loan officers who understand the Central Texas housing market. Their long-standing presence in Troy makes them a top choice for residents seeking traditional banking services combined with modern mortgage solutions.
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Benchmark Mortgage - Temple Office
Benchmark Mortgage
Benchmark Mortgage operates a regional office in nearby Temple that actively serves the Troy area with comprehensive mortgage solutions. Founded in 2002, this established lender has built a strong reputation for competitive rates and exceptional customer service throughout Central Texas. Their team includes local mortgage experts who understand the specific needs of rural and suburban communities like Troy. Customers highlight their efficient processing, clear communication throughout the loan process, and expertise with various loan programs including VA and FHA loans popular in the region.
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PrimeLending - Waco Office
PrimeLending
PrimeLending's Waco office serves the greater Central Texas region including Troy, offering a wide range of mortgage products with a focus on personalized service. As a national lender with strong local presence since 2006, they combine the resources of a large institution with the personal attention of local loan officers. They are particularly noted for their first-time homebuyer programs and competitive conventional loan options. Reviews consistently mention their educational approach, helping borrowers understand all available options, and their efficient closing process that minimizes stress for homebuyers in the Troy area.
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Frequently Asked Questions
Common questions about mortgage lending in Troy, TX
What are the current mortgage rates like for homes in Troy, TX, and how do they compare to state averages?
Mortgage rates in Troy typically align closely with national and Texas state averages, as it's a smaller market influenced by broader economic trends. However, local lenders may offer competitive rates due to lower overhead costs. It's wise to compare offers from both local credit unions, like First National Bank Texas, and larger national lenders to secure the best rate for your Troy home purchase.
Are there any down payment assistance programs specifically for buyers in Troy or Bell County?
Yes, Troy homebuyers can access the Texas State Affordable Housing Corporation (TSAHC) programs, which offer down payment assistance and competitive mortgage rates for qualifying buyers statewide, including in Bell County. Additionally, checking with local lenders about any city-specific or credit union-sponsored grants for first-time buyers in the area is recommended, as these can sometimes have more flexible local criteria.
How does the appraisal process work for rural properties or acreage lots common around Troy?
Appraising rural properties in the Troy area requires appraisers with specific expertise in valuing land, wells, septic systems, and agricultural potential. Lenders will order an appraisal that considers comparable sales of similar acreage properties in Bell or surrounding counties. This process can take longer and may result in a more conservative valuation than for a standard suburban lot, so buyers should be prepared for this nuance.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Troy?
Bell County property taxes are a significant component of your monthly escrow payment, with rates varying by specific school district (Troy ISD) and municipal boundaries. Furthermore, due to Troy's location in Central Texas, homeowners insurance often includes coverage for wind/hail and may be higher than in less storm-prone areas. Your lender will help estimate these costs, but getting local quotes early is crucial for an accurate budget.
Are USDA Rural Development loans a viable option for buying a home in Troy, TX?
Absolutely. Given Troy's community size and location, most of the area qualifies for USDA Rural Development loans, which offer 100% financing (no down payment) for eligible borrowers and properties. This is a highly attractive program for Troy, making homeownership more accessible. You should confirm the specific property's eligibility through the USDA website and work with a lender experienced in processing these loans.
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 Texas.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Troy and get competitive rates on your home loan.