Considering buying a house in the Yellowhammer State? A new study on local mortgage markets ranked the best cities across the state to buy a home.
SmartAsset, a financial technology company, recently released its third annual study on the “Best Places to Get a Mortgage.”
The study determined the top markets to secure a home loan in the state by analyzing data on mortgage approval rates, in addition to mortgage interest rates, average five-year borrowing costs and property taxes.
The company based the overall borrowing costs by examining the expected costs over the first five years of a $200,000 mortgage with a 20% down payment, including closing costs.
Here are Alabama’s top cities to get a mortgage:
![[Photo Credit: Office of Gov. Kay Ivey]](data:image/svg+xml;nitro-empty-id=NTY1Ojc1NDY=-1;base64,PHN2ZyB2aWV3Qm94PSIwIDAgMjA0OCAxNjI3IiB3aWR0aD0iMjA0OCIgaGVpZ2h0PSIxNjI3IiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==)
![[Photo Credit: Shutterstock.com]](data:image/svg+xml;nitro-empty-id=NTY1OjExNDQx-1;base64,PHN2ZyB2aWV3Qm94PSIwIDAgNTAwMCAzMjEyIiB3aWR0aD0iNTAwMCIgaGVpZ2h0PSIzMjEyIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==)
