The Best Mortgage Lenders in Troy, VT
Compare verified mortgage lenders serving Troy, Vermont. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Troy
Featured Mortgage Lenders
Vermont Mortgage Company
Vermont Mortgage Company
Vermont Mortgage Company is a highly-rated local lender renowned for its personalized service and deep expertise in Vermont's housing market. Serving Troy and all of Vermont, they offer competitive rates, flexible loan options, and a commitment to customer satisfaction, with many reviews highlighting their responsive communication and smooth closing processes. Their long-standing presence since 1998 ensures reliability and local knowledge.
Loan Types:
North Country Federal Credit Union
North Country Federal Credit Union
North Country Federal Credit Union is a trusted community-based lender serving northern Vermont, including Troy, with a strong focus on member-centric mortgage solutions. They provide competitive rates, local decision-making, and a variety of loan programs tailored to first-time buyers and existing homeowners. Their high customer ratings reflect exceptional service and a commitment to supporting the local community.
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Mortgage Experts of Vermont
Mortgage Experts of Vermont
Mortgage Experts of Vermont is a boutique brokerage known for its exceptional customer satisfaction and tailored mortgage advice. Serving Troy and the wider region, they excel in providing flexible loan options, competitive rates, and a stress-free application process. Their high ratings and numerous positive reviews emphasize their expertise, responsiveness, and dedication to helping clients achieve their homeownership goals.
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Frequently Asked Questions
Common questions about mortgage lending in Troy, VT
Are there any special mortgage programs for first-time homebuyers in Troy, VT?
Yes, the Vermont Housing Finance Agency (VHFA) offers several programs, including MOVE and ASSIST, which provide competitive interest rates and down payment assistance. These programs are particularly valuable in Troy, where median incomes are often lower than the state average, helping to make homeownership more accessible in the Northeast Kingdom.
How does the rural nature of Troy, VT, affect the mortgage and appraisal process?
Due to Troy's rural setting and lower population density, appraisals can be more complex due to fewer comparable home sales ("comps"). Lenders may require appraisers with specific experience in the Northeast Kingdom. Additionally, if a property is on a private well and septic system, additional inspections may be required by the lender before approval.
What are typical property taxes for a home in Troy, and how do they impact my mortgage payment?
Troy has a municipal property tax rate, which is combined with the local school tax rate. For 2024, the combined rate is approximately $1.80 per $100 of assessed value. This is a critical factor in calculating your total monthly payment (PITI), and your lender will use the specific tax rate for the parcel you are purchasing to provide an accurate estimate.
Are USDA Rural Development loans a common option for mortgages in Troy, VT?
Absolutely. Given Troy's designation as a rural area, many buyers qualify for USDA loans, which offer 100% financing (no down payment). This is a highly popular and practical option in the area, as it helps overcome one of the biggest barriers to entry in a market where saving for a down payment can be challenging.
How do seasonal weather and older home stock in Troy influence mortgage requirements like insurance?
Lenders will require adequate homeowners insurance, which in Troy must account for heavy snowfall (roof load) and potential heating system issues in older homes. For properties with wood stoves as a primary heat source, some insurers or lenders may require a WETT inspection. These local factors can influence both your insurance premium and the lender's conditions for closing.
Nearby Cities
Explore mortgage lenders in cities near Troy, VT
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 Vermont.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Troy and get competitive rates on your home loan.