Lincoln, AL Mortgage Rates and Refinance Rates

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

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Lincoln, Alabama Conforming Mortgage Rates and Refinance Rates

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

Jumbo Mortgage Rates and Refinance Rates in Lincoln, Alabama

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

Lincoln, Alabama Fixed Mortgage Rates and Fixed Refinance Rates

Lincoln, 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.

Lincoln, Alabama Adjustable Mortgage Rates

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



Google Map for Lincoln, AL Rates & Resources


Lincoln FDIC Insured Banks

Bank Name

FDIC Cert Number

Address

Metro Bank

27510 47537 Highway 78, Lincoln, AL 35096

Regions Bank

12368 47685 Us Highway 78, Lincoln, AL 35096

The First National Bank of Talladega

2832 Magnolia Avenue And Highway U.S. 78, Lincoln, AL 35096