Mortgage Lender in Troy, MI

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Local Home Loans Tailored for Troy

Numbers tell Troy’s story with unusual clarity: 6,000+ businesses, 129,000 employees, and Michigan’s largest Oakland County population at 87,294 residents. This concentration of commerce—anchored by Altair Engineering, Inteva Products, Flagstar Bank, and multiple Fortune 500 operations—earned Troy its designation as the heart of “Automation Alley,” the Midwest’s technology corridor. The Somerset Collection draws shoppers to 180+ upscale retailers, creating a retail destination that rivals any in the region. Troy School District consistently produces academic excellence, complementing neighborhoods where median incomes reach $96,000 and [housing values average $414,936](https://www.zillow.com/home-values/54095/troy-mi/). Last year’s modest 0.2% price softening created rare opportunities in a market known for competitive bidding. Fifteen miles north of downtown Detroit, Troy occupies the strategic center of Metro Detroit’s northern suburbs—close enough for urban access, prosperous enough to stand entirely on its own.

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Business hub economics translate directly into Troy’s housing market, where [median values reached $456,191 per Zillow](https://www.zillow.com/home-values/54095/troy-mi/) in January 2025. The 1.8% annual gain demonstrates steady appreciation in a city where 6,000+ employers generate sustained workforce housing demand. Properties clear the market in 7-10 days, reflecting competition among buyers relocating for Somerset Collection retail, Automation Alley technology firms, and corporate headquarters opportunities. Troy School District rankings justify pricing above state medians, while inventory diversity—from entry-level condos to gated estates—accommodates buyers across income brackets. Strategic location and economic fundamentals make Troy real estate a relatively low-risk Metro Detroit investment.

Why Choose Align Lending?

Family Values Friendly Owned

Community-Focused – Built on strong family values, we treat every client like one of our own.

Honest and Transparent: No hidden fees, no surprises—just straightforward mortgage solutions you can trust.
Reliable & Trusted: With over 30 years of experience, we’ve built lasting relationships by delivering exceptional service.
Local Experts and National Reach: Proudly serving Southeast Michigan, we’re deeply connected to the community and dedicated to helping homeowners succeed.

Troy Real Estate & Mortgage Overview

Troy’s median home price of $453,674 translates to income requirements between $127,000 and $163,000 annually. Property tax complexity here deserves attention: Oakland County rates range 2.1-2.4%, but Troy spans four different school districts, each with distinct millage rates affecting your total obligation. MSHDA’s down payment assistance and MI Home Loan products can meaningfully reduce closing costs—particularly valuable for first-time buyers entering this competitive market. Pricing spans dramatically—condos under $200,000 through estates exceeding $1 million—making early pre-qualification essential. Well-priced Troy listings attract multiple offers quickly; understanding your precise buying power before house-hunting prevents disappointment and strengthens negotiating position.

What it's Like to Live in Troy

Northfield Hills – Upscale neighborhood in northern Troy with expansive homes, excellent schools, and quiet streets. Attracts established families and executives. Homes: $500,000-$900,000. Somerset Collection Area – Central Troy location near premier shopping, restaurants, and I-75 access. Perfect for professionals wanting convenience and luxury condo living. Condos/Homes: $250,000-$600,000. Big Beaver Corridor – Mix of townhomes and single-families near Troy’s business district, offering walkability to offices and dining. Ideal for young professionals and dual-income households. Homes: $300,000-$500,000. Troy is served by four highly-rated districts: Troy School District, Avondale, Birmingham, and Lamphere, providing excellent educational options. Commute to Southfield takes 20 minutes, while Downtown Detroit is 30 minutes via I-75.

The Process

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Explore Your Loan Options – We take the time to explain the different mortgage programs you qualify for, including fees, taxes, and insurance.
Customize Your Rate – We work with top lenders to ensure you get a mortgage rate that fits your financial goals.
Fast & Easy Pre-Approval – Get pre-approved in minutes and gain the confidence to shop for your dream home!

Find the Right Agent & Start Shopping for Your Dream Home!

Expert Representation –A real estate agent’s commission is paid by the seller, so having a professional on your side comes at no extra cost to you!
Seamless Home Research – We’ll connect you with a trusted agent to make your homebuying journey as smooth as possible.
The Fun Begins – Shopping for your new home is an exciting experience—picture your future, explore possibilities, and find the perfect fit for your family.

Make an Offer & Close on Your Mortgage – Fast!

Strategic Offer Support –We collaborate with your agent to ensure your offer is as strong as possible.
Fast & Efficient Closing – Once your offer is accepted, we work to close your mortgage in less than two weeks.
Move Into Your Dream Home – Before you know it, the keys are in your hand and you’re settling in!

Troy Mortgage FAQ's

Is Troy a good place to buy a home in 2025?

Yes, Troy is one of Michigan’s most economically vibrant cities with a median home price of $453,674 and exceptional schools, corporate headquarters, and cultural diversity. The strong local job market—including Fortune 500 companies and thriving business districts—creates consistent housing demand and stable property values. Troy appeals to professionals, families, and international buyers seeking safety, schools, and economic opportunity.

What are property taxes in Troy, Michigan?

Troy property taxes typically range from 2.1-2.4% of assessed value, varying by which of Troy’s four school districts serves your property. For a $454,000 home, expect annual taxes of $9,534-$10,896 (approximately $794-$908 monthly). Troy School District, Birmingham Schools, Avondale, and Lamphere each have different millage rates affecting your total tax bill.

What is the average home price in Troy?

The median home price in Troy is $453,674, with significant range from $180,000 condos to $1.5 million+ luxury estates. Most single-family homes fall between $350,000-$600,000, offering diverse options for buyers at various price points while maintaining access to Troy’s amenities and strong schools.

What are the best neighborhoods in Troy for first-time buyers?

The Big Beaver corridor offers affordable condos and townhomes ($180,000-$280,000) with convenient access to shopping and employment centers. Neighborhoods along John R and Rochester Road provide starter homes ($300,000-$400,000) with good schools and solid appreciation potential. These areas allow first-time buyers to enter Troy’s market affordably while benefiting from the city’s strong school districts.

How long do homes stay on the market in Troy?

Troy homes typically go pending within approximately 9 days, indicating a very competitive seller’s market. Well-priced homes under $500,000 frequently receive multiple offers within days of listing. Luxury properties over $800,000 may take 45-90 days, but overall inventory remains tight, favoring sellers across most price points.

Serving Troy, MI and Surrounding Areas

Our Service Areas

Michigan Counties We Serve: Genesee, Lapeer, Lenawee, Livingston, Macomb, Monroe, Oakland, Saint Clair, Washtenaw, Wayne

If you’re in or around any of the locations listed above, Align Lending has you covered! Contact us to make a service appointment now!