Mortgage Broker in Troy, Michigan

The Troy Mortgage Market

Troy is one of Michigan's most economically active cities, home to a dense concentration of corporate headquarters, auto industry suppliers, and professional services firms along the I-75 and Big Beaver Road corridors. The residential market reflects that economic strength — Troy consistently ranks among the highest-demand communities in Oakland County, with a mix of established subdivisions, newer construction, and executive-level homes that attract buyers across a wide range of price points.

Median home prices in Troy typically range from the upper $300,000s to well over $600,000 depending on the neighborhood, with luxury properties along the Somerset corridor and in established subdivisions exceeding $1 million. This price range means many Troy buyers are working with conventional conforming loans (up to $806,500 in 2026) or jumbo financing for higher-end purchases. Down payment assistance programs are less commonly used in Troy due to income limits, but conventional loans with 5-20% down are the dominant product.

Troy's real estate investor community is active, particularly in the multi-family and small commercial space. For investors purchasing rental properties in Troy, DSCR loans are a popular choice because they qualify based on the property's rental income rather than the investor's personal income — useful for investors who own multiple properties or have complex tax returns. First-time buyers in Troy who are within MSHDA income limits may qualify for up to $10,000 in down payment assistance through the MI Home Loan program.