Capital Home Mortgage Birmingham
Birmingham Alabama Mortgage Lender
Home Loans In Birmingham Alabama
Welcome to Capital Home Mortgage Birmingham at Premier Mortgage Resources. Founded during the post-Civil War Reconstruction period in 1871, the city of Birmingham has since developed into a significant economic and social hub in the state of Alabama. Among the many things that the city is known for, Birmingham is also the founding city of National Veterans Day.
The real estate market in Birmingham has had its fair share of highs and lows in the wake of the pandemic. However, with its area poised for growth in home sales and prices in 2022, now may be a good time to look at some housing options.
If you’re looking to own a home in Birmingham, Alabama, we can help you get the right home loan to finance the purchase. At Capital Home Mortgage, we offer an extensive lineup of home loan programs to fit different home buyer needs.
Types Of Home Loan Programs In Birmingham
There are three main categories of home loans available to Birmingham residents:
1. Government-Insured & Guaranteed Home Loans
These are home loan programs that enjoy backing from the federal government. They are offered as part of the government’s commitment to helping Americans access mortgage products to enable them to become homeowners.
Because the government insures them, these loans are generally easier to access and ideal for home buyers with lower credit scores and limited down payments.
The most common types include:
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FHA Home Loans
The Federal Housing Administration oversees this program. If you’re a first-time home buyer, an FHA loan might be a great option since it requires a 3.5% down payment and a credit score of 580.
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USDA Home Loans
The US Department of Agriculture oversees this program. These loans are available to borrowers looking to own homes in qualified rural areas. They offer 100% financing, no money down required.
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VA Home Loans
The U.S. Department of Veterans Affairs manages this program. VA home loans are available to active or retired veterans and their families only. There’s no down payment required.
These loans are available to Native American Indians. The program is managed by the U.S. Department of Housing and Urban Development.
2. Conventional Home Loans
These loans are not insured or backed by the government. Conventional home loans can be used to finance primary and secondary homes and investment properties.
The required down payment is as low as 3%, though anything lower than 20% will usually incur private mortgage insurance payments to the lender. Borrowers need a minimum FICO credit score of 620 to access conventional loans.
3. Jumbo Home Loans
Jumbo loans are aptly named since they offer much higher loan amounts than conventional and government-backed loans. They are typically used to finance the purchase of high-end properties or homes in expensive areas, such as New York, Los Angeles, and Hawaii.
Because of the high amounts involved, the eligibility requirements for jumbo home loans are stringent and often require more in-depth documentation. For instance, borrowers must have a minimum FICO credit score of 700 and a max debt to income ratio of 45%.
Birmingham, Alabama Mortgage Lender
Capital Home Mortgage is a full-service, direct mortgage lender serving Birmingham residents. We understand that buying a home is a huge decision, so our mortgage professionals work tirelessly to provide a stress-free experience from start to finish.
Because we have direct endorsement authority to underwrite and approve your loan, Capital Home Mortgage can offer on-time true approvals, lower rates, and exceptional customer service.
Get Started With A Quick No-Obligation Quote
At Capital Home Mortgage Birmingham, we provide dedicated touchpoints throughout the home loan process so you can quickly and easily find the right program that meets your home buying requirements.
Get in touch with our loan officers today by calling (205) 352-1030.
Thank you for visiting our web page and the opportunity to earn your mortgage business in Birmingham, Alabama.
Why Birmingham HomeBuyers are Choosing Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Low Rates & Low Fees
Direct Lender with Competitive Rates & Low Fees
Exceptional Service
7 Day a Week Support Application to Final Mortgage Payment
Birmingham Alabama Mortgage Rates
Have you ever wondered why interests rates are what they are and what determines the final rate? Why borrowers receive different interest rates? Or why rates go up and down? Interest Rates are calculated using several factors.
- Demand for the mortgage Securities
- Property securing the mortgage
- occupancy of the property
- Loan to value of the property
- Borrower’s credit worthiness
Birmingham Mortgage Programs
Birmingham Home Purchase loans
Looking to Purchase a Birmingham Home?
- Primary, 2nd Home, Investment
- Low Rates & Fees, No fee Options
- FHA, VA, USDA, Native American
- Conventional, Jumbo & Renovation
- Manufactured, Construction, Reverse
Birmingham Renovation Home Loans
Looking to Rehab a Birmingham Home?
- Remodel, Renovate or Repairs
- FHA 203K Streamline
- FHA Full Documentation Rehab
- Fannie Mae Homestyle Reno
- Freddie Mac Home Choice Reno
Birmingham FHA Home loans
Great 1st Time Birmingham Homebuyers
- Smaller Down Payments
- Flexible Underwriting Guidelines
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Down Payment Gifts Allowed
Birmingham va Home Loans
100% Financing for Birmingham Vets
- No Mortgage Loan Limits
- Simple Qualifying
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Manual Underwriting Allowed
Birmingham Conventional Home loans
Flexibility for Birmingham Homebuyers
- Primary, 2nd Home, Investment Properties
- Single and Multi-Family Properties
- Variable Mortgage Insurance Options
- Low Rates & a Variety of Mortgage Terms
- Renovation Programs Available
Birmingham Jumbo Home Loans
Birmingham Non-Confirming Home Loans
- Primary & 2nd Homes
- Variety of Mortgage Programs
- Simple Qualifying for Veterans
- Investor Specific Guidelines
- Credit Score Minimums
Birmingham USDA Home loans
100% Rural Birmingham Home Loans
- Primary Residences
- No Down Payment Required
- New Manufactured Homes Allowed
- Closing Costs / Repairs Rolled In
- Geographic and Income Limits Apply
Birmingham Native american Home Loans
Birmingham Hud 184 Home Loans
- Primary Residence Only
- Manual Underwriting for All Loans
- No Credit Score Requirements
- Tribal Grants Allowed
- Purchase, Refinance, and Renovation
Birmingham Manufactured Home loans
Great Alternative Birmingham Housing
- Existing Purchase or Refinance
- New Construction
- One Time Close Land/Home Combo
- Lock at Contract
- FHA, VA, USDA, Native American
Birmingham Reverse Mortgage Loans
Your Birmingham Home at Work
- Primary Residence Only
- Simple Qualifying – Equity Based
- No Credit Score Requirements
- Minimum Age 62
- Purchase, Refinance, and Cash-Out
Birmingham Non QM Home loans
Making Birmingham Mortgages Possible
- Purchase, Refinance & Cash-out
- Primary, Secondary, Investment Properties
- Full Doc Programs
- Alt Doc Programs
- Corporations OK
Birmingham One Time Close Home Loans
Build Your Birmingham Dream Home
- Primary Residences Only
- One Time Close
- Lock Rate at Closing
- Traditional Final Mortgages
- No Payments During Construction
Birmingham Refinance Mortgage loans
Birmingham Rate & Term Refinance
- Lower Monthly Payment
- Shorten Mortgage Term
- Streamline Options Available
- Appraisal Waivers Allowed
- VA IRRRL’s
Birmingham Cashout Mortgage Loans
Birmingham Equity Mortgage Loans
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Dream Vacation
- Higher Education