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Types of Home Loans

Your West Alabama Bank Mortgage Banker can help you select the mortgage loan that fits your needs. West Alabama Bank has the people and products to make your dream come true, whether this is your first, your fifth, or your “home away from home”. We offer home loans with competitive rates, prompt processing and quick closings. Talk with us about the type of home loan to best serve you and your family. We are happy to provide a free consultation.

Conventional Fixed Rate Loans

A West Alabama Bank Conventional Fixed Rate Mortgage allows you to plan your home loan budget over the life of the loan. That’s because fixed rate mortgages give you the security of fixed principal/interest payments over the life of the loan, offering you protection against inflation or rising interest rates.

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Adjustable Rate Loans

With a West Alabama Bank Adjustable Rate Mortgages, your interest rate will stay the same generally for three, five or seven years, and then can change periodically after that. That makes ARMs an excellent choice of financing and you generally get a lower initial rate and monthly payment.

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VA Loans

If you are a veteran and want to finance a home, West Alabama Bank can help you with many advantages of a VA Home Loan.

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FHA Loans

Federal Housing Administration loans have been helping people become homeowners since 1934. If you qualify, your West Alabama Mortgage banker can help you take advantage of the many benefits of an FHA loan—low down payment and easy credit qualifications.

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USDA Loans

The USDA Housing Program is geared toward homebuyers who live in eligible areas and requires no down payment. This loan program offers flexible, common sense underwriting guidelines, relaxed credit requirements and lenient seller assistance.

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Jumbo Mortgages

A West Alabama Bank Jumbo Mortgage Loan allows you to purchase or refinance more expensive homes with a loan amount above the conforming loan limit.

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Home Improvement Loans

Upgrading your house makes your home more enjoyable while also adding value to your investment. We offer financing for most any type of home improvement, including remodeling, installing a deck, adding on a room, replacing a roof, finishing a basement or most any expense.

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Home Equity Loans

Use the equity you’ve built up in your home to finance the things you want and need today. You’ll enjoy a competitive rate, easy access to your equity and possible tax savings, making a home equity loan one of the smartest types of credit available.

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When the best in checking and savings come together, you get E-Plus Checking.

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