Selma, AL Mortgage Rates and Refinance Rates

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

Search and Compare Selma, AL Mortgage Rates & Refinance Rates



Selma, Alabama Conforming Mortgage Rates and Refinance Rates

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

Jumbo Mortgage Rates and Refinance Rates in Selma, Alabama

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

Selma, Alabama Fixed Mortgage Rates and Fixed Refinance Rates

Selma, 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.

Selma, Alabama Adjustable Mortgage Rates

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



Google Map for Selma, AL Rates & Resources


Selma FDIC Insured Banks

Bank Name

FDIC Cert Number

Address

BankTrust

26607 1305 East Highland Avenue, Selma, AL 36701

BankTrust

26607 1805 West Dallas Avenue, Selma, AL 36701

BankTrust

26607 310 Broad Street, Selma, AL 36701

First Cahawba Bank

58636 2610 Citizens Parkway, Selma, AL 36701

First Cahawba Bank

58636 801 Alabama Ave, Selma, AL 36701

Marion Bank and Trust Company

14184 2400 Hwy 80 West, Selma, AL 36701

RBC Bank (USA)

33184 9 Broad Street, Selma, AL 36701

Regions Bank

12368 101 Church Street, Selma, AL 36701

Regions Bank

12368 1105 Highland Avenue, Selma, AL 36703

Regions Bank

12368 2412 Broad Street, Selma, AL 36701

Wells Fargo Bank, National Association

3511 2605 Citizens Parkway, Selma, AL 36701

Wells Fargo Bank, National Association

3511 423 Broad Street, Selma, AL 36701