The Best Mortgage Lenders in Moulton, AL
Compare verified mortgage lenders serving Moulton, Alabama. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Moulton
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender known for its exceptional customer service and competitive rates. With a strong local presence in Decatur, they serve Moulton residents efficiently, offering personalized mortgage solutions and a wide range of loan products. Their high ratings reflect reliability, quick processing times, and a commitment to community support in North Alabama.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is renowned for its innovative technology and community-focused approach, providing fast and responsive mortgage services. Their Huntsville office serves the Moulton area with a dedicated team, offering flexible loan options and high customer satisfaction. They are praised for their digital tools and involvement in local initiatives.
Loan Types:
New American Funding
New American Funding
New American Funding excels in catering to diverse borrowers, including first-time homebuyers, with competitive rates and educational support. Their Florence office extends services to Moulton, emphasizing personalized care and a variety of loan programs. High ratings stem from their reliability, customer-centric policies, and strong regional presence.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Moulton, AL
What are the current average mortgage rates for homebuyers in Moulton, AL?
Mortgage rates in Moulton typically align with national averages but can vary based on local lenders and individual credit profiles. Currently, 30-year fixed rates in the area range from 6.5% to 7.25%, though local credit unions like Listerhill Credit Union often offer competitive rates. It's wise to compare offers from multiple Moulton-area lenders since even small rate differences can significantly impact your monthly payment.
Are there any first-time homebuyer programs specifically available in Moulton?
Yes, Moulton homebuyers 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 since Lawrence County qualifies for 100% financing, making it ideal for Moulton's rural character. Local lenders like First Metro Bank are experienced with these programs and can guide you through the application process.
How does Moulton's rural location affect my mortgage options?
Moulton's designation as a rural area opens up valuable USDA loan opportunities, which require no down payment for qualified buyers. Many properties in and around Moulton also qualify for USDA direct and guaranteed loans, making homeownership more accessible. However, you'll want to verify specific property eligibility with lenders familiar with Lawrence County's USDA boundaries.
What should I know about property taxes when getting a mortgage in Moulton?
Lawrence County property taxes are among the lowest in Alabama, typically ranging from 0.25% to 0.40% of assessed value. This lower tax burden means your monthly mortgage payment (including escrow) will be more affordable compared to many other locations. When getting pre-approved, your lender will calculate these taxes into your debt-to-income ratio, which works to your advantage in Moulton.
Are there local down payment assistance programs for Moulton homebuyers?
Yes, through the Alabama Housing Finance Authority, Moulton buyers can access the Affordable Income Subsidy grant providing up to $5,000 in down payment assistance. Some local employers like Wayne Farms and local government agencies also offer housing assistance programs for employees. Working with a mortgage lender experienced in these local programs can help you maximize available assistance.
Why Choose a Mortgage Lender in Moulton?
Local Market Knowledge
Lenders who understand Moulton'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 Moulton and get competitive rates on your home loan.