Sylacauga, AL Mortgage Rates and Refinance Rates

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

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Sylacauga, Alabama Conforming Mortgage Rates and Refinance Rates

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

Jumbo Mortgage Rates and Refinance Rates in Sylacauga, Alabama

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

Sylacauga, Alabama Fixed Mortgage Rates and Fixed Refinance Rates

Sylacauga, 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.

Sylacauga, Alabama Adjustable Mortgage Rates

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



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Sylacauga FDIC Insured Banks

Bank Name

FDIC Cert Number

Address

Alabama Trust Bank, National Association

35224 101 West Fort Williams Street, Sylacauga, AL 35150

Frontier Bank

16431 135 James Patyon Boulevard, Sylacauga, AL 35150

Frontier Bank

16431 43 North Broadway Avenue, Sylacauga, AL 35150

Regions Bank

12368 70 James B. Payton Avenue, Sylacauga, AL 35150

Wells Fargo Bank, National Association

3511 911 West Fort Williams Street, Sylacauga, AL 35150