Grand Bay, AL Mortgage Rates and Refinance Rates

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

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Grand Bay, Alabama Conforming Mortgage Rates and Refinance Rates

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

Jumbo Mortgage Rates and Refinance Rates in Grand Bay, Alabama

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

Grand Bay, Alabama Fixed Mortgage Rates and Fixed Refinance Rates

Grand Bay, 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.

Grand Bay, Alabama Adjustable Mortgage Rates

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



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Grand Bay FDIC Insured Banks

Bank Name

FDIC Cert Number

Address

Century Bank

11448 Union Church Road And Highway 90, Grand Bay, AL 36541