Study reveals best Alabama cities to get a mortgage

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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:

Alabama-SmartAsset-Best Mortgage cities_1

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