Alabama Mortgage Rates
Alabama ranks among states with the lowest property taxes in the United States. In comparison to other states' largest cities, Birmingham residents of all income levels bear one of the lowest tax burdens. Alabama boasts low housing costs and offers an attractive home value in every part of the state. With respect to home and mortgage loans, it is presently a buyer's market. Therefore, the real estate climate is ripe for homeowners seeking to refinance their mortgages and home purchasers who are in need of a mortgage. Under Alabama's Code, all real estate sales, pursuant to powers of sale set forth in deeds of trust and mortgages, must take place in the county where all or part of the property in question is located. This law is applicable to mortgages executed after December 31, 1988.