Mortgage rates in Alabama go down to 3.83%
Mortgage rates for Alabama on Lender411 for 30-year fixed-rate mortgages are at 3.83%. That remained constant at 3.83%. The 15-year fixed rates are now at 2.98% . The 5/1 ARM mortgage for Alabama is now at 3.04%.
If you are looking for up to the minute Alabama mortgage rates, you’ve come to the right place. Finding the lowest rates is easy when you have access to our vast network of trusted mortgage professionals in Alabama. Talk to multiple mortgage lenders in AL to compare rate quotes and understand your options.
For a more precise rate quote in your county, you can also browse Alabama Mortgage Rates by county.
Alabama Mortgage Refinance
Why is it critical to find the lowest rate when refinancing? Simply put, this is the entire goal of a refinance. The lower your new rate, the more money you’ll save. While there are many ways to secure a refinance loan, the best option is the no cost refi, which allows you to switch to a new mortgage with a lower rate without paying the fees associated with closing a new loan. This can literally save you thousands of dollars.
Home Loans in Alabama
The loan types available in Alabama are much like those available elsewhere. One of the most widely available mortgage loan types is the 30 year fixed rate mortgage. As the name implies, this loan comes with a fixed interest rate. This is considered the most financially sound mortgage by many borrowers. Some opt for the 15-year fixed option.
The adjustable rate mortgage (ARM) is another common loan type. You can also pursue a jumbo loan, interest only loan, balloon mortgage, or other specialized loan type. Whether or not one of these loans fits you will depend entirely on your needs and the requirements of your lender. Government backed loans, such as the FHA loan and the VA loan, are available to those who qualify.
Alabama is a great place in the southern United States to own a home. The capital city of Alabama is Montgomery, and the state is home to many other cities including Mobile, Huntsville and Birmingham.
The cities in Alabama are lively and full of Southern hospitality. For those looking for a beach getaway, Alabama's gulf coast is second to none. The two main beach towns in Alabama are Gulf Shores and Orange Beach. Alabama is a great place to live for those who enjoy a relaxing atmosphere and a warm climate.
To learn more about homeownership in Alabama or research ALhome buying programs, visit the Alabama HUD portal.
Follow these links to learn more about other Alabama mortgage types:
- Alabama Reverse Mortgage
- Alabama FHA Loans
- Alabama VA Loans
- Alabama First Time Home Buyer Loans
- Alabama Commercial Loans
|Brenda H Porter - RealtySouth|
|Marion Scott - WR Starkey|
|Jack Shields - Hiott Financial Corporation|