BEST MORTGAGE LENDERS IN ALABAMA September 2023

 Are you looking for a mortgage lender in Alabama? As stated by the U.S. Census Bureau of 2019 American Community Survey, Alabama has about 2 million housing units and a rate of 68.8% for homeownership.

As a borrower, there are things to consider before selecting a lender;

• Check your finances
• Determine your budget
• Know your mortgage options
• Compare rates and terms from many lenders
• Have an approval for mortgage
• Read the print well

Best Alabama Mortgage Lenders September 2023

1.Homefinity;- Homefinity has a minimum down payment of 3% and minimum credit score which is not disclosed to the public.

2.Caliber Home Loans;- Caliber home loans has a minimum down payment of 3% and minimum credit score of 620.

3.Carrington Mortgage;– Carrington Mortgage has a minimum down payment of 3% and minimum credit score of 620.

4.PenFed Credit Union;– PenFed Credit Union has a minimum down payment of 0% for VA loan and minimum credit score of 620.

5.Truist Bank;– Truist Bank has a minimum down payment of 3% and minimum credit score which is not disclosed to the public.

6.Chase;– Chase has a minimum down payment of 3% and minimum credit score which is not disclosed to the public.

7.Lower.com ;- Lower.com has a minimum down payment of 3% and minimum credit score of 620.

8.AmeriSave;- AmeriSave has a minimum down payment of 3% and minimum credit score of 620.

9.Veterans United Home Loan;– Veterans United Home Loan has a minimum down payment of 3% and minimum credit score of 620.

10.PNC;– PNC has a minimum down payment of 3% and minimum credit score of 620.

Review of the Best Mortgage Lenders in Alabama September 2023

1.Homefinity – Best for online application and Approval

2.Caliber Home Loans – Best for online service

3.Carrington Mortgage – Best for borrowers with bad credit

4.PenFe d Credit Union – Best for lender credit and no lender fee

5.Truist Bank – Best for client relations

6.Chase – Best for low costs

7.Lower.com – Best for borrowers who prefer digital home lending

8.AmeriSave – Best for mortgage variety

9.Veterans United Home Loan – Best for Veterans Affairs loans

10.PNC – Best for low down-payment

• The mortgage rate in Alabama is 2.96% on average for 30 years fixed rate. Home interest rates range from 2.25% to 4.13%.

However, there are more mortgage lenders in Alabama such as;

• PrimeLending – best for digital customer care

• Real Genius – best for online application

• New American Funding – best for low APR

• Guild Mortgage – best for product selection

• Sofi – best for online service

• CMG Financial – best for first-time borrowers who want to crowd-fund their down payment.

• Freedom Mortgage – best for product availability

• LoanDepot – best for a digital-first mortgage

• Alliant Credit Union – best for no down payment

• Rocket Mortgage – best for customer service

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