Alabama Mortgage Rates & Closing Costs
30yr Fixed Rate
15yr Fixed Rate
FHA
USDA
VA
5/1 ARM
30 Year Fixed Rate mortgages in Alabama averaged
6.07%
for the week of 2023-05-25, compared to the national average of
6.57% for the same period.
The average rate for the prior week (2023-05-18) was
6.09% and
one month ago for the week of 2023-04-20, the
average rate was 6.09%.
Alabama's average rate one year ago was 4.85%.
For refis of the same type during the week of 2023-05-25, the average rate
was 5.59%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-05-25 | 6.57% |
| Alabama 30 Year Fixed Rate | 2023-05-25 | 6.07% |
| Alabama 30 Year Fixed Rate Refi | 2023-05-25 | 5.59% |
| Alabama 15 Year Fixed Rate | 2023-05-25 | 5.6% |
| Alabama 15 Year Fixed Rate Refi | 2023-05-25 | 4.81% |
| Alabama 30 Year FHA | 2023-05-25 | 6.39% |
| Alabama 30 Year FHA Refi | 2023-05-25 | 5% |
| Alabama 30 Year USDA | 2023-05-25 | 5.81% |
| Alabama 30 Year USDA Refi | 2023-05-25 | 6.63% |
| Alabama 30 Year VA | 2023-05-25 | 5.79% |
| Alabama 30 Year VA Refi | 2023-05-25 | 4.04% |
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Alabama.
Alabama Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Alabama market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Alabama Average Closing Costs & Other Stats
Alabama's 548 lenders originated 128,438
loans during 2022. The total origination value was $30,919,210,000, with an average loan value of
$240,733.
Alabama's average closing costs are $4,568.
The top Alabama lender as defined by loan originations is QUICKEN LOANS, LLC, with
3,086 loans originated. Their average total fees are
$6,287, which is $2,642
higher than the next largest lender,
Trustmark National Bank.
The lowest fee Alabama lenders (with over 10 loans originated) are
Discover Bank ($0), CHERRY CREEK MORTGAGE, LLC ($807), SIRVA MORTGAGE, INC. ($1,379), PREMIA MORTGAGE, LLC ($1,589) and DSLD MORTGAGE, LLC ($1,791).
The lowest rate Alabama lenders (with over 10 loans originated) are
AVADIAN (3.35%), Stifel Bank and Trust (3.59%), Eco Credit Union (3.73%), AMERICA'S FIRST (3.75%) and Baxter Credit Union (3.75%).
Alabama Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
|---|---|---|---|---|
| QUICKEN LOANS, LLC | $2,959,515,000 | $1,482,210,000 | -49.9% | 4.8% |
| Regions Bank | $1,995,480,000 | $1,253,230,000 | -37.2% | 4.1% |
| Trustmark National Bank | $1,277,220,000 | $1,025,565,000 | -19.7% | 3.3% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,506,725,000 | $1,011,065,000 | -32.9% | 3.3% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,202,845,000 | $1,001,230,000 | -16.8% | 3.2% |
| FirstBank | $1,093,700,000 | $688,180,000 | -37.1% | 2.2% |
| Renasant Bank | $1,187,775,000 | $673,520,000 | -43.3% | 2.2% |
| BancorpSouth Bank | $644,890,000 | $611,755,000 | -5.1% | 2.0% |
| LOANDEPOT.COM, LLC | $1,067,995,000 | $605,755,000 | -43.3% | 2.0% |
| Mortgage Research Center, LLC | $693,780,000 | $585,865,000 | -15.6% | 1.9% |
| DHI MORTGAGE COMPANY, LTD. | $468,045,000 | $573,615,000 | 22.6% | 1.9% |
| MOVEMENT MORTGAGE, LLC | $524,355,000 | $532,965,000 | 1.6% | 1.7% |
| South State Bank | $448,745,000 | $481,785,000 | 7.4% | 1.6% |
| Wells Fargo Bank | $862,150,000 | $455,420,000 | -47.2% | 1.5% |
| REDSTONE Federal Credit Union | $534,660,000 | $434,320,000 | -18.8% | 1.4% |
| River Bank & Trust | $143,130,000 | $413,410,000 | 188.8% | 1.3% |
| GMFS LLC | $626,575,000 | $375,715,000 | -40.0% | 1.2% |
| GUILD MORTGAGE COMPANY | $552,160,000 | $374,835,000 | -32.1% | 1.2% |
| Synovus Bank | $547,430,000 | $367,975,000 | -32.8% | 1.2% |
| Hometown Lenders, Inc. | $536,890,000 | $367,550,000 | -31.5% | 1.2% |
| First Federal Bank, A FSB | $653,035,000 | $365,105,000 | -44.1% | 1.2% |
| PENNYMAC LOAN SERVICES, LLC | $714,070,000 | $364,755,000 | -48.9% | 1.2% |
| ServisFirst Bank | $358,755,000 | $361,575,000 | 0.8% | 1.2% |
| PNC Bank | $221,610,000 | $360,815,000 | 62.8% | 1.2% |
| Truist | $263,220,000 | $355,310,000 | 35.0% | 1.1% |
| BERKADIA COMMERCIAL MORTGAGE LLC | $180,655,000 | $351,480,000 | 94.6% | 1.1% |
| HOME POINT FINANCIAL CORPORATION | $859,550,000 | $342,065,000 | -60.2% | 1.1% |
| WALKER & DUNLOP, LLC | $308,720,000 | $309,460,000 | 0.2% | 1.0% |
| NAVY FEDERAL CREDIT UNION | $338,035,000 | $284,065,000 | -16.0% | 0.9% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $323,630,000 | $277,440,000 | -14.3% | 0.9% |
| FREEDOM MORTGAGE CORPORATION | $1,238,835,000 | $273,680,000 | -77.9% | 0.9% |
| SouthPoint Bank | $354,460,000 | $245,450,000 | -30.8% | 0.8% |
| First Horizon Bank | $369,225,000 | $238,640,000 | -35.4% | 0.8% |
| Mr. Cooper ( Nationstar Mortgage ) | $426,565,000 | $237,765,000 | -44.3% | 0.8% |
| Progress Bank and Trust | $296,460,000 | $235,180,000 | -20.7% | 0.8% |
| AMERICA'S FIRST | $105,395,000 | $226,675,000 | 115.1% | 0.7% |
| CROSSCOUNTRY MORTGAGE, LLC | $309,970,000 | $220,180,000 | -29.0% | 0.7% |
| INTERLINC MORTGAGE SERVICES, LLC | $468,735,000 | $217,650,000 | -53.6% | 0.7% |
| Flagstar Bank, FSB | $163,720,000 | $206,950,000 | 26.4% | 0.7% |
| Bank Independent | $254,270,000 | $206,400,000 | -18.8% | 0.7% |
| CALIBER HOME LOANS, INC. | $440,410,000 | $202,555,000 | -54.0% | 0.7% |
| CMG MORTGAGE, INC. | $306,080,000 | $198,295,000 | -35.2% | 0.6% |
| Merchants Bank of Indiana | $16,170,000 | $196,355,000 | 1,114.3% | 0.6% |
| Capital One | $290,750,000 | $163,195,000 | -43.9% | 0.5% |
| Citizens Bank | $895,000 | $162,970,000 | 18,108.9% | 0.5% |
| Bryant Bank | $182,375,000 | $162,495,000 | -10.9% | 0.5% |
| Assurance Financial Group, L.L.C. | $240,585,000 | $160,185,000 | -33.4% | 0.5% |
| TJC Mortgage, Inc. | $329,365,000 | $159,485,000 | -51.6% | 0.5% |
| USAA Federal Savings Bank | $195,875,000 | $159,215,000 | -18.7% | 0.5% |
| KeyBank | $91,035,000 | $156,970,000 | 72.4% | 0.5% |
| Prosperity Home Mortgage, LLC | $239,100,000 | $155,785,000 | -34.8% | 0.5% |
| FIRST COMMUNITY MORTGAGE, INC. | $283,490,000 | $155,655,000 | -45.1% | 0.5% |
| Listerhill Credit Union | $96,765,000 | $154,040,000 | 59.2% | 0.5% |
| JPMorgan Chase Bank | $158,720,000 | $145,505,000 | -8.3% | 0.5% |
| AMERISAVE MORTGAGE CORPORATION | $372,020,000 | $142,430,000 | -61.7% | 0.5% |
| Ameris Bank | $217,645,000 | $142,005,000 | -34.8% | 0.5% |
| CERTAINTY HOME LOANS, LLC | $193,935,000 | $141,115,000 | -27.2% | 0.5% |
| BROKER SOLUTIONS, INC. | $185,650,000 | $136,130,000 | -26.7% | 0.4% |
| BERKELEY POINT CAPITAL LLC | $77,340,000 | $130,735,000 | 69.0% | 0.4% |
| CB&S Bank, Inc. | $121,080,000 | $119,280,000 | -1.5% | 0.4% |
| 21ST MORTGAGE CORPORATION | $125,365,000 | $116,105,000 | -7.4% | 0.4% |
| Community Bank of Mississippi | $115,145,000 | $111,385,000 | -3.3% | 0.4% |
| GREYSTONE SERVICING COMPANY LLC | $34,380,000 | $109,480,000 | 218.4% | 0.4% |
| NEWREZ LLC | $232,625,000 | $107,520,000 | -53.8% | 0.3% |
| Bank of England | $169,350,000 | $103,750,000 | -38.7% | 0.3% |
| U.S. Bank | $133,450,000 | $103,240,000 | -22.6% | 0.3% |
| MORTGAGE INVESTORS GROUP, INC. | $190,585,000 | $102,005,000 | -46.5% | 0.3% |
| NEW DAY FINANCIAL, LLC | $162,955,000 | $101,520,000 | -37.7% | 0.3% |
| Bank of America | $142,495,000 | $99,575,000 | -30.1% | 0.3% |
| HOMESTAR FINANCIAL CORPORATION | $97,140,000 | $97,770,000 | 0.6% | 0.3% |
| Arbor Realty Trust, Inc. | $71,575,000 | $95,150,000 | 32.9% | 0.3% |
| APCO EMPLOYEES | $108,020,000 | $93,890,000 | -13.1% | 0.3% |
| PGIM Real Estate Finance, LLC | $89,520,000 | n/a | 0.3% | |
| EVERETT FINANCIAL, INC. | $26,605,000 | $88,910,000 | 234.2% | 0.3% |
| The First, A National Banking Association | $69,330,000 | $86,005,000 | 24.1% | 0.3% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $164,120,000 | $83,000,000 | -49.4% | 0.3% |
| Northpointe Bank | $85,120,000 | $82,875,000 | -2.6% | 0.3% |
| Troy Bank and Trust Company | $37,830,000 | $82,620,000 | 118.4% | 0.3% |
| BankFirst Financial Services | $102,295,000 | $81,030,000 | -20.8% | 0.3% |
| GUARANTY HOME MORTGAGE CORPORATION | $138,120,000 | $80,025,000 | -42.1% | 0.3% |
| LAKEVIEW LOAN SERVICING, LLC | $261,630,000 | $79,660,000 | -69.6% | 0.3% |
| FBC MORTGAGE, LLC | $114,935,000 | $78,495,000 | -31.7% | 0.3% |
| EMBRACE HOME LOANS, INC. | $101,265,000 | $74,970,000 | -26.0% | 0.2% |
| MAX Credit Union | $130,895,000 | $74,285,000 | -43.2% | 0.2% |
| UNION HOME MORTGAGE CORP. | $29,220,000 | $73,675,000 | 152.1% | 0.2% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $93,950,000 | $70,970,000 | -24.5% | 0.2% |
| ALL IN | $13,245,000 | $70,895,000 | 435.3% | 0.2% |
| Guardian Credit Union | $60,120,000 | $70,750,000 | 17.7% | 0.2% |
| Morgan Stanley Private Bank | $67,720,000 | $67,230,000 | -0.7% | 0.2% |
| Hancock Whitney Bank | $100,690,000 | $66,605,000 | -33.9% | 0.2% |
| SOUTHWEST FUNDING, LP | $106,915,000 | $65,585,000 | -38.7% | 0.2% |
| Hamilton Mortgage Corporation | $131,345,000 | $64,835,000 | -50.6% | 0.2% |
| Carrington Mortgage Services, LLC | $106,350,000 | $62,715,000 | -41.0% | 0.2% |
| Pinnacle Bank | $40,400,000 | $60,095,000 | 48.8% | 0.2% |
| DSLD MORTGAGE, LLC | $84,915,000 | $59,665,000 | -29.7% | 0.2% |
| THE MORTGAGE FIRM, INC. | $27,625,000 | $58,870,000 | 113.1% | 0.2% |
| BETTER MORTGAGE CORPORATION | $301,510,000 | $58,800,000 | -80.5% | 0.2% |
| Traditions Bank | $59,970,000 | $58,485,000 | -2.5% | 0.2% |
| GUARANTEED RATE, INC. | $57,470,000 | $57,710,000 | 0.4% | 0.2% |
| BankPlus | $35,360,000 | $57,320,000 | 62.1% | 0.2% |
| First National Bank of Pulaski | $50,005,000 | $56,625,000 | 13.2% | 0.2% |
| PENTAGON FEDERAL CREDIT UNION | $87,270,000 | $56,410,000 | -35.4% | 0.2% |
| TRIAD FINANCIAL SERVICES, INC. | $45,520,000 | $55,230,000 | 21.3% | 0.2% |
| ALABAMA TEACHERS | $46,335,000 | $54,720,000 | 18.1% | 0.2% |
| LEADERONE FINANCIAL CORPORATION | $77,925,000 | $54,630,000 | -29.9% | 0.2% |
| ALABAMA CREDIT UNION | $55,710,000 | $54,200,000 | -2.7% | 0.2% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $92,295,000 | $53,220,000 | -42.3% | 0.2% |
| AVADIAN | $243,440,000 | $52,485,000 | -78.4% | 0.2% |
| SmartBank | $35,895,000 | $51,975,000 | 44.8% | 0.2% |
| Stifel Bank and Trust | $68,895,000 | $51,315,000 | -25.5% | 0.2% |
| Alabama One Credit Union | $79,620,000 | $49,840,000 | -37.4% | 0.2% |
| The Hometown Bank of Alabama | $36,240,000 | $48,145,000 | 32.9% | 0.2% |
| ENVOY MORTGAGE, LTD | $49,230,000 | $46,665,000 | -5.2% | 0.2% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $62,000,000 | $46,420,000 | -25.1% | 0.2% |
| First Southern Bank | $19,075,000 | $44,700,000 | 134.3% | 0.1% |
| AuburnBank | $78,045,000 | $43,135,000 | -44.7% | 0.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $67,180,000 | $41,550,000 | -38.2% | 0.1% |
| First Metro Bank | $62,660,000 | $41,375,000 | -34.0% | 0.1% |
| The Federal Savings Bank | $60,785,000 | $41,370,000 | -31.9% | 0.1% |
| Gateway First Bank | $61,520,000 | $39,805,000 | -35.3% | 0.1% |
| Peoples Bank of Alabama | $45,560,000 | $39,570,000 | -13.1% | 0.1% |
| Central State Bank | $34,355,000 | $38,550,000 | 12.2% | 0.1% |
| SECURITYNATIONAL MORTGAGE COMPANY | $23,255,000 | $38,375,000 | 65.0% | 0.1% |
| Nations Lending Corporation | $62,785,000 | $38,120,000 | -39.3% | 0.1% |
| First Commercial Bank | $12,745,000 | $37,920,000 | 197.5% | 0.1% |
| EAGLE HOME MORTGAGE, LLC | $135,000 | $37,685,000 | 27,814.8% | 0.1% |
| HUNT MORTGAGE CORPORATION | $44,500,000 | $37,375,000 | -16.0% | 0.1% |
| Grandbridge Real Estate Capital LLC | $24,600,000 | $37,010,000 | 50.4% | 0.1% |
| Tyndall Federal Credit Union | $58,890,000 | $36,915,000 | -37.3% | 0.1% |
| READYCAP COMMERCIAL, LLC | $28,315,000 | $34,760,000 | 22.8% | 0.1% |
| West Alabama Bank & Trust | $35,825,000 | $34,220,000 | -4.5% | 0.1% |
| RCN Capital, LLC | $12,930,000 | $34,095,000 | 163.7% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $52,515,000 | $34,090,000 | -35.1% | 0.1% |
| Citizens Bank & Trust | $34,215,000 | $33,885,000 | -1.0% | 0.1% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $7,010,000 | $33,810,000 | 382.3% | 0.1% |
| KELLER MORTGAGE, LLC | $81,135,000 | $33,420,000 | -58.8% | 0.1% |
| FINANCE OF AMERICA MORTGAGE LLC | $52,640,000 | $33,365,000 | -36.6% | 0.1% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $17,985,000 | $33,165,000 | 84.4% | 0.1% |
| AMERICAN FINANCING CORPORATION | $46,865,000 | $33,135,000 | -29.3% | 0.1% |
| FAMILY SAVINGS | $18,795,000 | $33,030,000 | 75.7% | 0.1% |
| Consumer First Mortgage, Inc. | $58,020,000 | $32,135,000 | -44.6% | 0.1% |
| Simmons Bank | $51,370,000 | $31,935,000 | -37.8% | 0.1% |
| NBKC BANK | $41,705,000 | $31,665,000 | -24.1% | 0.1% |
| Liberty Mortgage Corporation | $78,210,000 | $31,380,000 | -59.9% | 0.1% |
| HOMESIDE FINANCIAL, LLC | $52,450,000 | $31,375,000 | -40.2% | 0.1% |
| MID AMERICA MORTGAGE, INC. | $23,885,000 | $30,560,000 | 27.9% | 0.1% |
| LIMA ONE CAPITAL, LLC | $32,170,000 | $30,255,000 | -6.0% | 0.1% |
| Metro Bank | $24,610,000 | $30,065,000 | 22.2% | 0.1% |
| BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC | $73,040,000 | $29,630,000 | -59.4% | 0.1% |
| EvaBank | $26,810,000 | $28,600,000 | 6.7% | 0.1% |
| First Bank of Alabama | $41,095,000 | $28,580,000 | -30.5% | 0.1% |
| COREVEST AMERICAN FINANCE LENDER LLC | $165,110,000 | $28,565,000 | -82.7% | 0.1% |
| RELIANCE FIRST CAPITAL, LLC | $30,785,000 | $28,560,000 | -7.2% | 0.1% |
| First Federal Bank | $49,935,000 | $28,380,000 | -43.2% | 0.1% |
| CCB Community Bank | $23,790,000 | $28,145,000 | 18.3% | 0.1% |
| Southern States Bank | $28,155,000 | $28,140,000 | -0.1% | 0.1% |
| SWBC MORTGAGE CORPORATION | $59,330,000 | $28,070,000 | -52.7% | 0.1% |
| CIS Financial Services, Inc. | $42,445,000 | $27,405,000 | -35.4% | 0.1% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $12,110,000 | $27,350,000 | 125.8% | 0.1% |
| First Community Bank of Central Alabama | $14,875,000 | $27,345,000 | 83.8% | 0.1% |
| PLANET HOME LENDING, LLC | $60,210,000 | $27,280,000 | -54.7% | 0.1% |
| BAY EQUITY LLC | $53,985,000 | $26,995,000 | -50.0% | 0.1% |
| First Jackson Bank, Inc. | $17,220,000 | $26,925,000 | 56.4% | 0.1% |
| North American Savings Bank, F.S.B. | $41,040,000 | $26,820,000 | -34.6% | 0.1% |
| SUCCESS MORTGAGE PARTNERS, INC. | $31,880,000 | $26,700,000 | -16.2% | 0.1% |
| ACIPCO Federal Credit Union | $16,245,000 | $25,895,000 | 59.4% | 0.1% |
| DRAPER AND KRAMER MORTGAGE CORP. |