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Alabama Fixed Mortgage Rates

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Loan Type Base Rate APY Points Base Rate APY Points Base Rate APY Points
4.875 5.000 0.750 6.500 6.500 0.000 3.875 4.125 2.125
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4.500 4.500 0.000 6.625 6.500 0.125 3.750 4.000 1.625
3.625 3.750 0.875 6.125 6.125 0.125 3.375 3.625 1.500
4.000 4.000 4.000 6.125 6.125 0.000 3.250 3.750 1.625

Alabama Adjustable Mortgage Rates

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Loan Type Base Rate APY Points Base Rate APY Points Base Rate APY Points
4.625 4.143 N/A 4.750 4.188 0.125 3.750 3.813 3.250
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3.938 3.559 N/A 6.875 5.000 0.125 2.750 3.125 2.500
3.625 3.423 1.125 6.375 4.500 0.125 2.375 3.125 2.375
3.375 3.875 4.125 6.125 4.250 0.000 2.500 3.250 1.000
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Mortgage Rates at 4.25%*

  • $150,000 loan for under $867/month
  • $225,000 loan for under $1,301/month
  • $350,000 loan for under $2,023/month
 

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National vs Alabama 10/1 ARM Mortgage Monthly Payments

Loan Amount img Alabama Average img National High img National Low img  
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$771.21                      $782.47                      $694.67                     
$874.04                      $886.80                      $787.30                     
$2,107.97                      $2,138.75                      $1,898.77                     

National vs Alabama 30-yr. fixed Mortgage Monthly Payments

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$760.03                      $960.47                      $694.67                     
$861.37                      $1,088.53                      $787.30                     
$2,077.41                      $2,625.27                      $1,898.77                     

National vs Alabama 15-yr. fixed Mortgage Monthly Payments

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$1,109.53                      $1,275.94                      $1,054.00                     
$1,257.47                      $1,446.06                      $1,194.54                     
$3,032.72                      $3,487.56                      $2,880.94                     

National vs Alabama 5/1 ARM Mortgage Monthly Payments

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$684.08                      $935.80                      $582.98                     
$775.29                      $1,060.58                      $660.71                     
$1,869.81                      $2,557.87                      $1,593.48                     

National vs Alabama 3/1 ARM Mortgage Monthly Payments

Loan Amount img Alabama Average img National High img National Low img  
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$663.14                      $911.42                      $592.68                     
$751.56                      $1,032.94                      $671.71                     
$1,812.59                      $2,491.20                      $1,620.00                     
Source: U.S. Department of Housing and Urban Development - Apr 23, 2009

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Average Rates

15-yr fixed*

4.0%

30-yr fixed*

4.5%

One hundred newly constructed homes become a dream for many of Bayou LaBatre's residents, displaced in the aftermath of Hurricane Katrina. "Safe Harbor Estates" is this aptly named subdivision which sits just across the road from Bayou LaBatre Mayor Stan Wright's home. It is evident that people of this community and its leaders came together to work with HUD, FEMA, and other agencies to create a model place for evacuees to return. "There is no NIMBY (not in my back yard) syndrome here" says Janie Galbraith, the consultant who worked with city officials to apply for the $15,000,000 FEMA Alternate Housing Pilot Program (AHPP) grant that made this construction possible. And, HUD's Community Development Block Grant program funded the infrastructure to support the development.

Steps To Take When You May Be Unable To Pay Your Mortgage
  • Contact Your Lender
  • Talk To A Housing Counseling Agency
  • Prioritize Your Debts
  • Explore Loan Workout Solutions
  • Are You Eligible for Disaster Relief/Military Options?
  • Beware of Predatory Lending Schemes
Source: U.S. Department of Housing and Urban Development - Apr 23, 2009

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Delivering Capital Solutions in Today's Market was the hot topic at the 9th Annual Alabama Commercial Real Estate Conference, held in Birmingham, Alabama, on January 30, 2009. More than 175 real estate professionals came to learn about HUD programs during the most widely attended of three competing professional development tracks, with standing room only.

Commercial property sales have fallen and are expected to continue that trend this year. Developers and other real estate professionals are experiencing difficulty getting financing and many desire to expand on how they have traditionally done business. Although many of them are engaged in multifamily development, few have considered FHA Multifamily Mortgage Insurance as a tool to enable the affordable financing of their developments. Ms. Cindy Yarbrough, Birmingham Field Office Director, explained a number of HUD's Multifamily products and how the FHA Multifamily Mortgage Insurance programs work to support Multifamily residential rentals including mobile home parks, assisted living facilities, nursing homes and hospitals. She also spoke of how the Community Development Block Grant program, administered through HUD-designated entitlement communities, help to support many activities that may be undertaken by the commercial real estate industry.

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*Mortgage Rate of 4.25% is for qualified borrowers for a 10-year fixed rate mortgage to refinance an owner-occupied, one-unit, single family dwelling for a loan of $165,000 to $417,000 ($165,000 to $625,500 in Alaska and Hawaii). If you are contacted by a lender or broker advertising within our network, your quoted rate may be higher, depending on your property location, credit score, loan-to-value ratio, debt-to-income ratio, and other factors. Not available in all states. Not available for all credit types. Not all service providers in our network offer this or other products with fixed rate options.

**This advertised rate is for qualified borrowers for to refinance an owner-occupied, one-unit, single family dwelling for a loan of $150,000, $225,000 or $350,000 with a interest only monthly payment of $867, $1301 or $2023. This is an interest only adjustable rate that is fixed for the first 12 months then is subject to increase no more than 1% every 6 months thereafter (until rate has caught up to fully indexed rate). To be eligible for this program borrower must meet applicable credit requirements, including a FICO score of at least 620. MortgageDebt.com is not acting as a lender or broker. The information provided by you to MortgageDebt.com is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender. If you are contacted by a lender or broker advertising within our network, your quoted rate may be higher, depending on your property location, credit score, loan-to-value ratio, debt-to-income ratio, and other factors. Not available in all states. Not available for all credit types.

Last Updated: September 03, 2010