Clanton, AL Mortgage Rates and Refinance Rates

Mortgages in Clanton, AL: Find the best Clanton, AL mortgage rates today from banks and credit unions. When results are displayed for mortgage rates in Clanton, AL, you can easily sort your search results by lender, rate, APR and points so you can easily compare results. Whether you’re looking for conforming, jumbo, adjustable or interest-only mortgage rates in Clanton, AL. Another option is searching for Clanton, AL refinance rates if you're looking to refinance a loan. Best of all you don't have to provide any personal information to see a list of Clanton, AL mortgage rates or refinance rates.

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Clanton, Alabama Conforming Mortgage Rates and Refinance Rates

Conforming home mortgage rates in Clanton, AL are the most popular type of mortgages rates you can find advertised for home buyers in Clanton, AL. Conforming mortgages, also known as conventional mortgages, are mortgages that meet certain criteria set out by Federal Housing Finance Agency (FHFA). There is a loan limit set for each county in the United States. Higher mortgage loan limits are set for high housing cost areas. Clanton, AL mortgages that 'conform' to the standards set out by the Federal Housing Finance Agency can be purchased by government sponsored entities (GSE) like Freddie Mac and Fannie Mae. This process guarantees Clanton, AL banks, mortgage companies and credit unions are able to resell home mortgage loans that they make. This process also makes Clanton, AL conforming mortgage rates and refi rates lower than Clanton, AL jumbo mortgage rates and jumbo refinance rates because the GSE's can’t purchase jumbo mortgages that are made by Clanton, AL home finance companies, credit unions and banks.

Jumbo Mortgage Rates and Refinance Rates in Clanton, Alabama

Jumbo mortgage rates in Clanton, AL are advertised for home loans that have a dollar amount that is higher than conventional loan amounts. Jumbo mortgage rates and jumbo refinance rates are always higher than conventional mortgage rates for both fixed mortgage rates in Clanton, AL and adjustable mortgage rates in Clanton, AL. Interest rates are higher because third party investors buy the home loans credit unions, banks and mortgage companies in Clanton, AL make.

Clanton, Alabama Fixed Mortgage Rates and Fixed Refinance Rates

Clanton, AL fixed rate mortgages are the most common mortgage available to borrowers. With a fixed mortgage the interest rate stays the same for the entire loan period. Fixed mortgages are available in 40 years, 30 years, 20 years, 15 years and 10 years. The longer the mortgage term the lower the monthly mortgage payment will be.

Clanton, Alabama Adjustable Mortgage Rates

Adjustable Clanton, AL mortgage rates are fixed for a period of time and then the mortgage rate adjusts every year after. The most common adjustable mortgages terms available in Clanton, AL are 1 year, 3 year, 5year and 7 year. Adjustable rate mortgages are advertised as 1 year, 3/1, 5/1 and 7/1. Adjustable mortgages are available for conforming dollar amounts and jumbo dollar amounts in Clanton, AL. Most adjustable mortgages in Clanton, AL have yearly caps and life time maximum caps on how high the interest rate can fluctuate.



Google Map for Clanton, AL Rates & Resources


Clanton FDIC Insured Banks

Bank Name

FDIC Cert Number

Address

Branch Banking and Trust Company

9846 501 Second Avenue North, Clanton, AL 35045

Peachtree Bank

68 1501 7th Street North, Clanton, AL 35045

Peoples Southern Bank

850 620 Second Avenue North, Clanton, AL 35045

Peoples Southern Bank

850 Highway 31 South, Clanton, AL 35045

Regions Bank

12368 100 Seventh Street South, Clanton, AL 35045