Fort Payne, AL Mortgage Rates and Refinance Rates

Mortgages in Fort Payne, AL: Find the best Fort Payne, AL mortgage rates today from banks and credit unions. When results are displayed for mortgage rates in Fort Payne, 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 Fort Payne, AL. Another option is searching for Fort Payne, 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 Fort Payne, AL mortgage rates or refinance rates.

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Fort Payne, Alabama Conforming Mortgage Rates and Refinance Rates

Conforming home mortgage rates in Fort Payne, AL are the most popular type of mortgages rates you can find advertised for home buyers in Fort Payne, 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. Fort Payne, 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 Fort Payne, AL banks, mortgage companies and credit unions are able to resell home mortgage loans that they make. This process also makes Fort Payne, AL conforming mortgage rates and refi rates lower than Fort Payne, AL jumbo mortgage rates and jumbo refinance rates because the GSE's can’t purchase jumbo mortgages that are made by Fort Payne, AL home finance companies, credit unions and banks.

Jumbo Mortgage Rates and Refinance Rates in Fort Payne, Alabama

Jumbo mortgage rates in Fort Payne, 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 Fort Payne, AL and adjustable mortgage rates in Fort Payne, AL. Interest rates are higher because third party investors buy the home loans credit unions, banks and mortgage companies in Fort Payne, AL make.

Fort Payne, Alabama Fixed Mortgage Rates and Fixed Refinance Rates

Fort Payne, 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.

Fort Payne, Alabama Adjustable Mortgage Rates

Adjustable Fort Payne, 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 Fort Payne, 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 Fort Payne, AL. Most adjustable mortgages in Fort Payne, AL have yearly caps and life time maximum caps on how high the interest rate can fluctuate.



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Fort Payne FDIC Insured Banks

Bank Name

FDIC Cert Number

Address

Compass Bank

19048 200 Gault Avenue North, Fort Payne, AL 35967

Compass Bank

19048 2311 Gault Avenue North, Fort Payne, AL 35967

First Southern State Bank

2829 1820 Glen Boulevard, Fort Payne, AL 35967

First Southern State Bank

2829 2128 Gault Ave N, Fort Payne, AL 35967

First State Bank of DeKalb County

23815 2407 Gault Avenue North, Fort Payne, AL 35967

Regions Bank

12368 100 Grand Avenue, South, Fort Payne, AL 35967

Regions Bank

12368 1718 Gault Avenue, North, Fort Payne, AL 35967