Compare Today’s Mortgage Rates for Shannon, Alabama

Pureloan searches major banks and mortgage lenders all over the nation for the best home loan rates in Shannon, Alabama 35142. Pureloan also provides a report on popular mortgage brokers in your area and a detailed analysis of your home loan payments. For a 30-year fixed loan, expected lifetime cash savings are $7,982 or $22 / month in Shannon and surrounding areas of Shelby county.

Our search engine explores all possible home mortgage options including fixed rate, adjustable rate (ARM), FHA, VA, USDA, conventional, jumbo and conforming home mortgages for Shannon, Alabama 35142.

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Summary of Average Mortgage Terms in Shannon, Alabama 35142

Rate

APR

Expected Savings

Monthly Payment

Total Closing Costs

Interactive and Personalized Mortage Rates Analysis

Source: Fannie Mae and Freddie Mac


To forecast and predict mortgage rates in Shannon, AL 35142, Pureloan has created an interactive chart to track the 5 largest nationwide lenders. Historical rates are based on closed mortgage financings, and projections are based on proprietary modeling.

Historical Mortgage Rates for Shannon, Alabama 35142 from 2012 - 2019

We have compiled mortgage rate charts for home loans in Shannon, Alabama and around Shelby county to help you understand trends for your home purchase process. This data is produced from actual closed loans.

2013 2014 2015 2016 2017 2018 2019 2020
% 30 year fixed mortgage 85.43% 79.88% 81.18% 87.12% 85.10% 88.33% 84.52% 85.62%
avg mortgage rate 4.79% 4.55% 3.83% 3.88% 4.38% 4.05% 3.93% 4.12%
% 15 year fixed mortgage 12.15% 17.16% 16.13% 11.86% 12.12% 10.76% 13.31% 11.64%
avg mortgage rate 4.20% 3.68% 3.17% 3.14% 3.42% 3.23% 3.00% 3.21%
Avg credit score 763.45 760.86 760.60 758.87 758.55 757.00 756.20 757.18
Avg LTV (loan to value) 76.83% 78.95% 82.17% 82.45% 83.17% 84.08% 84.13% 83.59%
Avg DTI (debt to income) 30.24 30.25 27.92 27.95 29.60 29.11 29.56 31.08
% First time homebuyer 26.72% 31.36% 28.49% 31.86% 23.74% 27.46% 26.01% 23.97%
Avg mortgage insurance % 4.95% 6.63% 10.92% 11.53% 12.39% 13.58% 13.96% 14.27%

Data produced from the Financial Report of the US Government

Best Mortgage Brokers Around Shannon, Alabama 35142

If you’re looking to buy a new home in Shannon, we have compiled a list of the leading mortgage brokers around Shannon, Alabama 35142 to help you with your search.

Name
Address
Contact

Stevews Fast Money Loans

765 Highway 78

Sumiton AL 35142

(205) 255-6282

stevesfastmoneyloans@gmail.com

World Finance

140 Hull Rd

Sumiton AL 35142

(205) 648-8600

Archway Mortgage

6290 US Highway 11

Springville AL 35142

(205) 467-9662

ghutson@archwaymortgage.com

Rbc Bank

6384 US Highway 11

Springville AL 35142

(205) 467-6194

http://www.rbcbankusa.com/

Accent Mortgage

2969 Pelham Pkwy

Pelham AL 35142

(205) 216-0300

http://www.accentmtg.com

Address

765 Highway 78

Sumiton AL

Contact

(205) 255-6282

stevesfastmoneyloans@gmail.com

Address

140 Hull Rd

Sumiton AL

Contact

(205) 648-8600

Address

6290 US Highway 11

Springville AL

Contact

(205) 467-9662

ghutson@archwaymortgage.com

News on Mortgages and Reverse Mortgages for Shannon, Alabama 35142