Home Loans In Hoover, Alabama

Located in north-central Alabama, Hoover is the largest suburban city and the sixth-largest city in the state of Alabama. Hoover has recently been named the “Best Place to Live in Alabama” according to 24/7 Wall Street. This is due to the city’s high ratings in economy, affordability, community, and quality of life, making it ideal for families and seniors to live.

Indeed, living in Hoover is a dream for many, and it can be for you too. 

Are you looking to purchase a home in Hoover, Alabama? Capital Home Mortgage can help you obtain the right financing program. What type of home loan can you qualify for? 

Types of Mortgage Products In Hoover

Choosing the best mortgage product is important because they involve large financial transactions that take years to pay. Here are the common mortgage products offered today.

• Fixed-Rate Mortgage

These mortgages have a fixed interest rate over the loan term of anywhere between 10 – 30 years. The main advantage of this mortgage is that you can compute payments from day zero until the last payment date.

• Adjustable-Rate Mortgage

ARM’s main characteristic is the change of rates after the fixed period. A 5/1 ARM has a fixed rate for the first five years and changes interest rates annually. ARMs usually come at a “teaser rate” lower than most loans.

• FHA Mortgage

The Federal Housing Administration backs home loans of moderate to low-income borrowers. Since the government insures these loans, banks tend to ease up and accept down payments as low as 3.5% and credit scores as low as 580. 

• VA Mortgage

Whether retired or in service, the men and women of the US Military can get a VA home loan with zero down payment, no loan limits, no mortgage insurance, and 4% seller concessions. 

• USDA Mortgage

The U.S. Department of Agriculture guarantees USDA loans to borrowers looking to own homes in a designated rural area. There is no down payment required, no restrictions on seller concessions, but credit, income, and asset restrictions may apply.

• Jumbo Mortgage

If the house you want is above the limits set by Fannie Mae and Freddie Mac, jumbo loans are the best for you. However, only borrowers with credit scores of 740 and above may qualify for this one.

Hoover, Alabama Mortgage Lender

Are you looking to get a home loan in Hoover, Alabama? Our experienced loan officers at Capital Home Mortgage can help. We offer a wide range of home loan programs, including government-backed loans, Jumbo loans, conventional loans, and even refinancing and renovations. 

Capital Home Mortgage handles all mortgage applications until funding as a direct mortgage lender. Since we finance all approved loans, our underwriting and processing policies are more flexible to suit your specific needs. We also provide competitive interest rates and lower fees, and excellent customer service from start to finish. 

Get A Home Loan In Hoover

Getting the right home loan in Hoover, Alabama, starts with a simple phone call. Talk to our loan officers today about your home financing needs. Reach us at (205) 352-1030 to get started.