Mortgage Calculator

Common FAQs

• Why choose Listerhill for my mortgage?

  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.

   

• You might prefer an adjustable-rate mortgage over a fixed-rate mortgage if...
  • You plan to move before the introductory rate expires.
  • You want a lower payment during your initial payment period.
  • You think rates will drop in the future.
  • You are planning on relocating before the rate adjusts
  • You know you will be paying off the loan in a few years
  • You need to move fast and have limited time to secure a down payment
  • You do not qualify for a 30-year fixed-rate mortgage, but want a 30-year payment schedule
  • Your payment could decrease if the index against which your ARM is benchmarked drops
• Is a credit union better for mortgages?

  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.

• Does it matter who your mortgage is with?

  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.