The Best Mortgage Lenders in Empire, AL
Compare verified mortgage lenders serving Empire, Alabama. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Empire
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a highly-rated lender with over 28 years of experience, known for its exceptional customer service, competitive rates, and extensive loan options. They have a strong regional presence in Alabama, including service to Empire, and are praised for their reliability, fast closings, and community involvement. Their high ratings reflect consistent customer satisfaction and expertise in handling various mortgage types.
Loan Types:
New American Funding
New American Funding
New American Funding is a reputable mortgage lender with 21 years in business, offering a wide range of loan products and personalized service. They serve the Empire area through their Birmingham office and are recognized for competitive rates, diversity in lending, and strong customer support. Their high ratings stem from a track record of successful closings and commitment to homeowner education.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a well-regarded lender with 16 years of experience, known for its efficient loan processing and community-focused approach. They provide services to Empire and surrounding areas, with high ratings for their responsive customer service and variety of mortgage solutions. Their dedication to local partnerships and streamlined operations makes them a top choice for homebuyers in the region.
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Frequently Asked Questions
Common questions about mortgage lending in Empire, AL
What are the current average mortgage rates for homebuyers in Empire, AL?
Mortgage rates in Empire typically align with national averages but can vary based on local lenders and property types. Currently, 30-year fixed rates range from 6.5% to 7.2%, while FHA loans might be slightly lower. It's best to check with local credit unions like CB&S Bank or regional lenders for the most accurate Empire-specific rates.
Are there any first-time homebuyer programs specifically available in Empire?
Yes, Empire homebuyers can access Alabama's Step Up program, which offers affordable fixed-rate mortgages and down payment assistance. Additionally, the USDA Rural Development loan program is particularly relevant since Empire qualifies as a rural area, offering 100% financing with no down payment required for eligible borrowers.
How does Empire's rural location affect mortgage lending options?
Empire's rural designation opens access to USDA loans, which are excellent for qualified buyers seeking no-down-payment options. However, the limited number of local lenders means you might need to work with regional banks or mortgage brokers familiar with Walker County's property types and valuation considerations.
What special considerations should I know about property taxes when getting a mortgage in Empire?
Walker County property taxes are relatively low compared to national averages, currently around 0.42% of assessed value. Your mortgage lender will typically escrow these taxes, and it's important to factor in that Empire properties may have different assessment considerations than urban areas, which can affect your overall payment calculation.
Are there any local down payment assistance programs for Empire residents?
While Empire itself doesn't offer city-specific programs, Alabama Housing Finance Authority's Affordable Income Subsidy provides down payment assistance statewide. Some Walker County initiatives may also be available, and local lenders often have relationships with community programs that can help with closing costs and down payments for qualified buyers.
Why Choose a Mortgage Lender in Empire?
Local Market Knowledge
Lenders who understand Empire'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 Empire and get competitive rates on your home loan.