See below the latest Alabama mortgage rates for fixed loans (30 year, 20, 15, 10 FHA, VA and Jumbo) plus variable rates (10, 7, 5, 3 year). Also see how Alabama compares nationally, and main lending options available across the state. Buying a home in Alabama could be easier with today’s mortgage rates.
Current Mortgage Rates in Alabama –
The table below shows today’s home purchase mortgage rates for Alabama, organized by credit score and lender type:
| Credit Score | Satisfaction | |||
|---|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | ||
| Nationally | 6.41% | 6.46% | 6.51% | |
| Alabama | 6.32% | 6.37% | 6.42% | |
| Credit Unions | 5.92% | 5.97% | 6.12% | 8.3/10 |
| Online lenders | 6.02% | 6.07% | 6.22% | 8.3/10 |
| Banks | 6.32% | 6.37% | 6.42% | 8.3/10 |
| 30 year fixed | 6.32% | 6.37% | 6.42% | |
| 30 year fixed FHA | 6.59% | 6.64% | 6.69% | |
| 30 year fixed VA | 6.03% | 6.08% | 6.13% | |
| 30 year fixed Jumbo | 6.43% | 6.67% | 6.86% | |
| 20 year fixed | 6.33% | 6.38% | 6.43% | |
| 15 year fixed | 5.90% | 5.95% | 6.00% | |
| 10 year fixed | 5.44% | 5.49% | 5.54% | |
| 3 year ARM | 4.27% | 4.32% | 4.37% | |
| 5 year ARM | 6.38% | 6.43% | 6.48% | |
| 7 year ARM | 6.48% | 6.53% | 6.58% | |
| 10 year ARM | 6.32% | 6.37% | 6.42% | |
| Satisfaction | 8.3/10 | 8.1/10 | 7.4/10 |
Source: MFP’s Community Home Purchase Rates Survey from the last 30 days.
How Alabama Compares to National Averages
- Alabama mortgage rates (6.32% for best credit scores) are slightly below national averages (national average: 6.41%).
- Credit unions are more competitive: In Alabama, credit unions offer 5.92%, banks 6.32%, online lenders 6.02%.
Mortgage Options in Alabama
- 30 year fixed: 6.32% - most popular long-term option for predictable payments
- 20 year fixed: 6.33% - balance between payment size and interest savings
- 15 year fixed: 5.90% - lower total interest cost for borrowers building equity faster
- 10 year fixed: 5.44% - shortest fixed-term option with competitive rates
- 10 year variable: 4.27% - Offers a longer initial period with a variable rate...
- 7 year variable: 6.38% - A mid-term variable option...
- 5 year variable: 6.48% - Shorter-term variable mortgage...
- 3 year variable: 6.32% - Quick-adjusting mortgage...
- FHA mortgage: government-backed with flexible credit requirements
- VA mortgage: exclusive to veterans and military members with competitive rates
Alabama Metro Mortgage Rates*
| Metro / City | 30-Year Fixed APR | 15-Year Fixed APR |
|---|---|---|
| Birmingham | 6.44% | 5.64% |
| Huntsville | 6.42% | 5.62% |
| Mobile | 6.47% | 5.67% |
| Montgomery | 6.45% | 5.65% |
| Tuscaloosa | 6.46% | 5.66% |
* APR rates shown are for borrowers with excellent credit. Click city names to view recommended lenders and ratings.
Compare Lenders Rated by Alabama Homeowners
Alabama homeowners rated their mortgage lenders on:
- Ease of application
- Rates and terms offered
- Customer support and advice
- Overall recommendation %
See the Best Mortgage Lenders in Alabama
FAQs Alabama Mortgage Rates
Are home purchase rates higher in Alabama than the U.S. average?
Alabama rates are typically slightly above the national average, though the difference is often marginal for most borrowers.
What credit score is best for buying a home in Alabama?
A credit score of 720 or higher typically secures the most competitive mortgage rates available in Alabama.
Is it better to choose a fixed-rate or ARM in Alabama?
Fixed-rate mortgages provide payment stability for long-term homeowners, while ARMs may benefit those planning to move or refinance within a few years.
More Alabama Home Information:
FHA Loans, FHA Rates and Veteran Rates
Fixed Rates: 30 Year, 20 Year, 15 Year, 10 Year
Variable Rates: 10 Year, 7 Year, 5 Year, 3 Year
Alabama Best Mortgage Lenders from Community Recommendations
Alabama Best Home Insurance from Community Recommendations & Insurance Costs
More Resources for Alabama Homeowners.