Home Loans In Mobile, Alabama 

Welcome to Capital Home Mortgage Mobile. Set along the Gulf of Mexico and north of Mobile Bay, Mobile is a historic city with new experiences to offer. In addition to housing the only saltwater port in the state of Alabama, Mobile is the origin city of the oldest organized Mardi Gras celebrations in the U.S. 

The real estate market here is quite active too. Mobile was ranked the 4th best city to live in Alabama. 

Are you planning to buy a home in Mobile, Alabama? Let’s walk you through the house buying timeline to know what to expect. 

4 Stages Of Buying A House In Mobile

1. Get A Mortgage Pre-Approval 

Getting pre-approved for a home loan is the first step for serious home buyers. 

Your mortgage lender will conduct a detailed check on your financial information, including a hard credit pull. This is when the lender formally requests to look at your credit file to determine your creditworthiness as a borrower. 

If they like what they see and you meet the other loan eligibility requirements, they’ll issue a letter detailing your pre-approval status and the loan amount they’re willing to offer. 

Your pre-approval letter is essential because it tells home sellers and agents that you won’t have trouble raising the needed funds for the purchase should they decide to sell the house to you. 

2. Go House Hunting

Armed with your pre-approval letter, you’re now ready to check out what the market has to offer. Consider many factors, especially since you might spend the next 10 to 30 years paying for the house. You can’t afford to get a property that will lead to buyer’s remorse down the line. 

An excellent way to save time in this step is to work with a real estate agent. You just let them know what you’re looking for in a property and how much you can afford. They’ll do the legwork and match you with a house that meets those parameters. 

3. Make Your Offer 

If you’ve found the right home, the next step is to submit your offer. Expect lots of negotiations at this stage. If you’re working with an agent, they can help with the necessary paperwork and can even handle negotiations on your behalf. 

You’ll want to start with a firm offer, so it immediately stands out to the seller. This is particularly useful if the house has attracted a lot of buyers and the seller has multiple offers on hand. 

4. Closing 

After successful negotiations with the seller, your lender will finalize your loan details and determine if your application is approved or rejected. 

If approved, you’ll proceed to the closing process with the lender. They will inform you of the final terms of the loan, as well as the closing costs to be paid. Once concluded, you’ll sign the necessary papers and take control of your new property. 

Mobile, Alabama Mortgage Lender

As you can see from the above timeline, the lender plays a vital role in the home buying process. That’s why it’s crucial to choose a tried and proven Mobile mortgage lender. 

At Capital Home Mortgage Mobile, we are committed to providing a seamless home buying experience. We offer many home loan programs in Mobile, including FHA, VA, Conventional, USDA, HUD 184, and Jumbo home loans. 

Capital Home Mortgage is a direct mortgage lender meaning we control the entire home loan process. This way, we’re able to make decisions faster regarding loan applications and offer competitive interest rates for borrowers. 

Get In Touch With Our Home Loan Experts

Let us help you get the right home financing for your needs today. Give us a call at (205) 352-1030 to speak with our home loan experts in Mobile, Alabama. We look forward to working with you and providing your next Mobile home loan.