Alabama Mortgage Refinance

Whether you are looking for mortgage refinance in Huntsville (35801) or Mobile (36617), Alabama (population 856,547) homeowners have a wide range of mortgage rate options. Currently, homeowners have access to rates from 4.73% APR to 5.34% APR on a 30 year fixed product and 4.18%APR to 4.77%APR on a 15 year fixed rate mortgage. In terms of adjustable rate mortgages (ARMs), lenders offer a rate on a 5/1 for 3.92% APR. The average home value in Alabama is $122,200 with the median sale price of $140,600. Comparatively, home values in some Alabama cities such as Birmingham (35226) range from $$249,361 to $292,728, whereas home values in Chickasaw (36611) range from $97,528 to $114,489. When it comes to refinancing, Alabamans should compare and contrast refinance rates from a variety of lenders. One way to expedite this process is to compare rates for similar loan types and amounts. Also, Alabama residents receive tax benefits and can deduct mortgage interest, points and property taxes.