The Best Mortgage Lenders in Clio, AL
Compare verified mortgage lenders serving Clio, Alabama. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Clio
Featured Mortgage Lenders
Bryant Bank
Bryant Bank
Bryant Bank is a highly-rated regional bank known for its exceptional customer service and local decision-making processes. Founded in 2005, it has built a strong reputation in Alabama for offering competitive mortgage rates and personalized lending solutions. With a focus on community banking, they provide a wide range of loan types and have a branch in Troy, AL, conveniently serving the Clio area. Their high customer satisfaction scores and extensive experience make them a top choice for homebuyers in Barbour County and surrounding regions.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a nationally recognized lender with a strong local presence in Alabama, including a branch in Dothan that serves the Clio area. Founded in 1996, they are praised for their fast closing times, competitive rates, and comprehensive loan options. With thousands of positive reviews highlighting their responsive customer service and expertise in various mortgage products, they are a reliable choice for both first-time and experienced homebuyers. Their commitment to education and community support further enhances their standing as a top mortgage provider.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly-rated national lender with a significant footprint in Alabama, including services extending to Clio. Founded in 2008, they are known for their efficient loan processing, competitive interest rates, and strong emphasis on customer satisfaction. They offer a diverse portfolio of loan types and are particularly noted for their community involvement and support for affordable housing initiatives. With numerous positive reviews citing their professionalism and ease of application, Movement Mortgage is a trusted option for borrowers seeking reliable and modern mortgage solutions.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Clio, AL
What are the current average mortgage rates for homebuyers in Clio, AL?
Mortgage rates in Clio typically align with national averages but can be influenced by local economic factors. Currently, 30-year fixed rates in the area range from approximately 6.5% to 7.25%, depending on credit score and loan type. It's recommended to check with local lenders like First National Bank of Coffee County or Regions Bank for the most current Clio-specific rate quotes.
Are there any first-time homebuyer programs specifically available in Clio?
Yes, Clio residents can access Alabama's Step Up program, which offers competitive interest rates and down payment assistance. Additionally, the USDA Rural Development loan program is particularly relevant for Clio homebuyers since the area qualifies for these zero-down-payment loans. Local lenders can help determine eligibility for these programs based on income and property location.
How does Clio's rural location affect my mortgage options?
Clio's rural designation opens up valuable USDA loan opportunities that aren't available in urban areas. Many properties in and around Clio qualify for USDA loans, which require no down payment and offer competitive rates. However, you'll want to verify specific property eligibility with lenders, as some areas might have different designations.
What special considerations should I know about when getting a mortgage for older homes in Clio?
Many homes in Clio's historic districts or rural areas were built before 1978, which may require additional lead-based paint disclosures and inspections. Older homes might also need specialized appraisals that account for unique architectural features. It's wise to budget for potential repair costs that could affect your loan-to-value ratio.
Are there local property tax considerations that affect mortgage payments in Clio?
Yes, Barbour County property taxes in Clio are relatively low compared to national averages, which can help keep your overall mortgage payment affordable. Current rates are approximately 0.37% of assessed value. Your lender will include these taxes in your monthly escrow payment calculation, and it's important to factor in potential tax reassessments after purchase.
Why Choose a Mortgage Lender in Clio?
Local Market Knowledge
Lenders who understand Clio's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Alabama.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Clio and get competitive rates on your home loan.