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Listerhill Credit Union is a nonprofit financial cooperative improving lives in our community.
If you live in Alabama, Georgia, Mississippi, Florida, or Tennessee, you are eligible to become a member. Depending on your individual eligibility, we may require membership into an approved association at no cost to you.
You can also qualify for membership by being a family member of a current or potential Listerhill member.
With only $5, you can join Listerhill today and start taking advantage of a lifetime membership.
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Home Loans
Adjustable-Rate Mortgages
Our ARMs give you more time at one rate before adjusting, unlike other lenders. While many adjustable-rate mortgages fluctuate annually, you can go 3-5 years without a rate change when you choose Listerhill. You can secure an adjustable-rate mortgage with terms that vary, including a 3/3 and a 5/5 mortgage.
It comes down to your long-term goals and short-term affordability.
A 30-year ARM with a fixed interest rate for the first three years, then fluctuating every three years
A 3/3 ARM is best if you want to lock in the lowest rate, but over a shorter period and are okay with the rate fluctuating more often.
A 30-year ARM with a fixed interest rate for the first five years, then fluctuating every five years.
A 5/5 ARM is best if you want to lock in a low rate over a longer period and maintain the same rate over an extended time.
With a 5/5 adjustable-rate mortgage, you can go 10 years with only one rate adjustment, whereas with other lenders, you could experience up to six rate changes in the same time period.
To qualify for an adjustable-rate mortgage, we will look at your financial background to determine whether you have a manageable level of debt, steady income, and good credit history. While we look at these four factors to help you qualify for a mortgage, we also realize you’re a person and will review your full profile and speak with you directly to get you the loan you want and can afford.
We will review your debt to income ratio (DTI) to ensure you don’t have more debt than your income can manage. A recommended DTI, including your mortgage payment, is no more than 43%.
Whether you’re self-employed or have a W2 job, we want to ensure that you have a stable work history showcasing your likelihood of being able to afford your home now and in the future. Two years of consistent employment are typically required to qualify for a home loan.
Your credit score is a significant indicator of your financial responsibility. We will review your credit history and credit score to determine whether you have the background that showcases your ability to manage mortgage payments.
For in-house 30-year loans, a down payment is required no matter the credit score. The more down payment you put down, the lower your interest rate. The sweet spot is 20%. This also gives you more equity in your home to use down the road for getting cash out for updates, improvements, or emergencies that may arise. On the ARMS we require 5% down for any 3/3 ARM no matter the credit score. The 5/5 ARM can be done as a 100% loan with no down payment depending on other qualifying attributes.
Effective 8/1/2026
Mortgage and Home Loans are subject to credit approval. Actual rates will be determined by the individual creditworthiness of each borrower. Rates are subject to change without notice. The APR on adjustable-rate home loans may vary and are subject to change after consummation. Property, occupancy, underwriting, and other restrictions may apply. Equal Housing Lender. Contact a loan officer for current rates, APRs, down payment requirements, and complete program details. APR = Annual Percentage Rate.
Yes because choosing the right lender for your home loan or refinance can lead to a better transaction overall. This is especially important if you are a first time homebuyer or attempting to qualify under special circumstances.
At Listerhill, our focus is on “people helping people.” When you purchase a home, we want to offer you the support you need from application to closing. As a nonprofit cooperative owned and operated by its members, you own an equal “share” in Listerhill and vote in elections for the Board of Directors and Supervisory Committee. That means your voice is always heard, and in turn, our actions reflect your needs and desires. Our mortgage rates, terms, and policies will always reflect your needs in securing the best credit union mortgage loan in Alabama.
Securing a mortgage through a credit union is preferable for many seeking to purchase a new home or refinance. Credit unions often offer more competitive mortgage rates in Alabama and are more flexible with their terms and conditions.
NMLS# 449408
4790 East Second Street, Muscle Shoals, AL 35661
256.383.9204, ext. 1222
Join us and experience banking that’s designed for you.
Join us and experience banking that’s designed for you.
Answer a few questions and we will find a solution that works for you. It only takes a few seconds.
You can apply as a current member or become a member during the application process if you meet eligibility and credit requirements.†
It means you won't be charged interest on qualifying purchases for the first 12 months after opening your new Listerhill Visa Signature® Rewards, Keystone Signature® Rewards, Visa Platinum®, or Keystone Platinum® credit card.†
This introductory 0% APR offer applies for 12 months from account opening.†
No; current Listerhill Visa Signature® Rewards, Keystone Signature® Rewards, Visa Platinum®, and Keystone Platinum® credit cardholders are not eligible for this offer, but other promotions may be available.
This offer is available to new Listerhill Visa Signature® Rewards, Keystone Signature® Rewards, Visa Platinum®, and Keystone Platinum® credit cardholders and is subject to credit approval.‡
