Today's Alabama (AL) Mortgage Rates

Alabama (AL) Mortgage Rates & Mortgage Loan Data – Prior Year

Mortgage Actions Taken

Loan originated: 1,028,974
Application denied by financial institution: 467,228
Loan purchased by the institution: 438,979
Application withdrawn by applicant: 214,266
Application approved but not accepted: 111,824
File closed for incompleteness: 71,678
Preapproval request denied by financial institution: 223
Preapproval request approved but not accepted: 65

Purpose of Loans

Refinancing: 1,291,602
Home purchase: 866,586
Home improvement: 175,049

Mortgage Types

Conventional: 1,630,762
FHA-insured: 479,545
VA-guaranteed: 162,115
FSA/RHS-guaranteed: 60,815

Mortage Actions by Applicant Race

White: 1,547,557
Black or African American: 340,073
Not applicable: 215,261
Information not provided by applicant in mail, Internet, or telephone application: 193,200
Asian: 22,172
American Indian or Alaska Native: 11,501
Native Hawaiian or Other Pacific Islander: 3,473

Mortage Actions by Applicant Ethnicity

Not Hispanic or Latino: 1,879,828
Not applicable: 215,693
Information not provided by applicant in mail, Internet, or telephone application: 205,393
Hispanic or Latino: 32,323

Mortage Actions by Applicant Sex

Male: 1,384,409
Female: 615,035
Not applicable: 215,369
Information not provided by applicant in mail, Internet, or telephone application: 118,424

Mortage Actions by Agency Name

Department of Housing and Urban Development: 691,376
Consumer Financial Protection Bureau: 474,890
Office of the Comptroller of the Currency: 373,436
Federal Reserve System: 252,989
Federal Deposit Insurance Corporation: 247,473
Office of Thrift Supervision: 182,780
National Credit Union Administration: 110,293

Mortage Actions by County

Mortage Actions by City

Birmingham, Hoover – AL: 618,283
Unknown: 523,053
Huntsville – AL: 288,804
Montgomery – AL: 187,788
Mobile – AL: 183,154
Tuscaloosa – AL: 103,670
Decatur – AL: 77,210
Auburn, Opelika – AL: 73,895
Florence, Muscle Shoals – AL: 67,942
Dothan – AL: 67,386
Gadsden – AL: 42,754
Anniston, Oxford – AL: 40,705
Columbus – GA, AL: 26,299
Daphne, Fairhope, Foley – AL: 24,006
Anniston, Oxford, Jacksonville – AL: 8,288

Mortage Denial Reasons

Unknown: 2,070,028
Credit history: 97,733
Collateral: 50,309
Debt-to-income ratio: 46,091
Credit application incomplete: 25,793
Other: 25,694
Unverifiable information: 7,773
Insufficient cash (downpayment, closing costs): 5,926
Employment history: 3,368
Mortgage insurance denied: 522

HOEPA Status of Mortage Loans

Not a HOEPA loan: 2,330,900
HOEPA loan: 2,337

Lien Status of Mortage Loans

Secured by a first lien: 1,731,718
Not applicable: 438,979
Not secured by a lien: 86,000
Secured by a subordinate lien: 76,540

Owner Occupancy Status of Mortage Loans

Owner-occupied as a principal dwelling: 2,108,245
Not owner-occupied as a principal dwelling: 206,542
Not applicable: 18,450

Mortgages by Property Type

One-to-four family dwelling (other than manufactured housing): 2,188,971
Manufactured housing: 141,309
Multifamily dwelling: 2,957

Mortgages by Purchaser Type

Loan was not originated or was not sold in calendar year covered by register: 1,295,018
Fannie Mae (FNMA): 271,238
Ginnie Mae (GNMA): 224,222
Freddie Mac (FHLMC): 131,642
Other type of purchaser: 111,195
Commercial bank, savings bank or savings association: 101,841
Life insurance company, credit union, mortgage bank, or finance company: 101,729
Affiliate institution: 81,933
Private securitization: 14,383
Farmer Mac (FAMC): 36