Explore mortgage options that open the door to a new life.
Hi, neighbor! Are you a first-time buyer? A longtime owner? Either way, you'll find the home loan you need at First Metro Bank. And whether you're researching or ready to apply, our Mortgage Center is filled with helpful advice and tools. Plus, you can easily connect with a First Metro Bank Loan Officer located here in North Alabama who knows the local real estate market. Whichever mortgage you choose, you'll enjoy quick, local decision-making and processing from your neighborhood team of attentive, friendly experts.
- Competitive interest rates for home purchases, refinances or construction
- Available for primary residence, second homes, vacation homes or investment properties
- Choose from repayment terms customized to your needs
- Various financing programs available
- Get pre-qualified to show sellers you're ready to buy
Let's see which Mortgage is best for you.
Conventional Mortgages
This is one of the most popular mortgages because of its certainty. You get a fixed rate and fixed term, which means your principal and interest payments won't change during the life of the mortgage.
- Choose from various terms
- Private Mortgage Insurance (PMI) may be required if your down payment is less than 20%
- No prepayment penalty
Veterans Administration (VA) Mortgages
At First Metro Bank, we believe every hero deserves a great home. When you're ready to put down roots, VA Loans offer excellent rates and terms for eligible veterans and their families, with no down payment required.
- Veteran eligibility requirements apply
- Up to 100% financing
- VA Funding Fee required, but can be financed through the loan
- Flexible terms
- Limited closing costs
- No prepayment penalty
Federal Housing Administration (FHA) Mortgages
With lower down payments and flexible credit requirements, an FHA Loan is an insured, government-backed loan ideal for first-time homebuyers who qualify.
- Fixed interest rate for the life of the loan
- Mortgage Insurance Premium (MIP) required
- FHA Funding Fee required, but can be financed through the loan
- No prepayment penalty
USDA Mortgages
Looking for a home out in the country? Or do you need just a little breathing room? A USDA Loan provides a fixed rate for borrowers who meet specific income requirements and buy a home in USDA-designated rural or suburban areas.
- Up to 100% financing available
- Mortgage Insurance Premium (MIP) required
- USDA Funding Fee required, but can be financed through the loan
- Flexible terms
- No prepayment penalty
Construction Loans
Bring your blueprint, we'll provide the financing. When you're ready to build your dream home, our Mortgage Services Team guides you through the entire process from laying the foundation to nailing down the last shingle.
- Interest-only payments during home construction phase
- No prepayment penalty
- Option for permanent financing to eligible borrowers
- Single loan closing for construction and permanent financing available
Jumbo Loans
When you're going beyond conventional, a Jumbo Loan could be your answer. With a high credit score and low debt-to-income ratio, you might qualify for a loan that exceeds conforming limits, allowing you to finance a primary residence, second home or vacation getaway.
- Home financing options above $806,500
- 20% down payment normally required
- Terms up to 30 years
- No prepayment penalty
Auto Loans
Hit the road in the car of your dreams.
An affordable auto loan is waiting for you to drive it off the lot.