Capital Home Mortgage Alabama

Alabama Non Qualified Mortgages

Non Qualified Mortgage Lender Alabama

Non Qualified Mortgage Loans in Alabama

An Alabama non-qualified mortgage, often known as a non-QM loan, allows you to qualify using techniques other than the typical income verification necessary for most loans.  They are so-called because they do not meet the Consumer Financial Protection Bureau’s (CFPB) requirements for a qualifying mortgage.  Non-QM loans can include many mortgages, including those with terms longer than 30 years and those that fail to meet agency-standard documentation requirements. While non-QM loans may have higher fees and be perceived as riskier due to more flexible qualification guidelines, they have evolved through time to give safe alternative financing options.  They are especially beneficial for those who may not qualify for a loan based on traditional income verification or who have a non-traditional income source, opening up real estate investment prospects to a broader set of people.

Types of Alabama Non-QM Loans

Non-QM loans in Alabama offer flexible options to various types of borrowers who may not qualify for typical mortgage loans.  Each non-QM loan type caters to a distinct set of borrower requirements; therefore, evaluating your financial standing and real estate objectives is essential before selecting a loan product.  Due to the greater risk involved, non-QM loans may carry higher interest rates or fees than traditional loans. Here are some of the non-QM loans available in Alabama state:
  • Alabama No-Doc Mortgage Loans

No-Doc loans are non-QM loans popular among homebuyers with unconventional incomes. As the name implies, these loans do not require income documentation.
  • Alabama DSCR Mortgage Loans

Debt Service Coverage Ratio (DSCR) loans are another type of no-income documentation loan in which the subject property’s rent must cover the mortgage payment and additional housing expenses. This form of non-QM loan is quite prevalent in Alabama.
  • Alabama Interest-Only Loans

Some non-QM loans offer interest-only payments, in which lenders do not demand you to pay the principal for a set length of time, which can assist some borrowers in qualifying for the loan.
  • Alabama Bank Statement Loans

These non-QM loans allow you to qualify using bank statements or assets as income, benefiting self-employed individuals or gig workers who may lack standard income verification.
  • Alabama Foreign National Loans

These are intended for non-citizen foreign nationals who have established residency in the United States but have yet to become citizens. Applicants must show proof of residence in the country for at least three years and pass a background check.
  • Alabama Customized Non-QM Loans

These loans are tailored to the needs of individual borrowers. Such loans are frequently used by real estate investors looking for fixer-uppers that do not meet the habitability requirements of traditional mortgage loans.

Apply for a Non-QM Loan with Capital Home Mortgage Alabama

Capital Home Mortgage Alabama offers Alabama homebuyers pursuing non-QM loans a substantial advantage. These loans are designed for those who need to meet the stringent requirements for a conventional mortgage, such as self-employed individuals, real estate investors, and those with exceptional financial circumstances.  Non-QM loans provide flexibility, enabling debtors to purchase or refinance without W2s by utilizing 1099s, bank statements, assets, or debt coverage ratios. Even though they typically carry higher interest rates due to the increased risk, they provide an invaluable opportunity for those who may not qualify for conventional loans. Capital Home Mortgage’s Professional Team can guide purchasers through this non-traditional mortgage path, offering individualized solutions to resolve specific financial circumstances. Their extensive experience and dedication to customer service make them a dependable option for non-QM loans in Alabama.  Call (205) 352-1030 to discuss your non-qualified mortgage questions with our Home Loan Specialists.
Why Alabama 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

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
Alabama Mortgage Programs

Alabama Home Purchase loans

Looking to Purchase an Alabama Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.
  • Primary, 2nd Home, Investment
  • Low Rates & Fees, No fee Options
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo & Renovation
  • Manufactured, Construction, Reverse

Alabama Renovation Home Loans

Looking to Rehab an Alabama Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not a renovation loan? Purchase the Perfect Home and make it your own.
  • Remodel, Renovate or Repairs
  • FHA 203K Streamline 
  • FHA Full Documentation Rehab
  • Fannie Mae Homestyle Reno
  • Freddie Mac Home Choice Reno

Alabama FHA Home loans

Great 1st Time Alabama Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.
  • Smaller Down Payments
  • Flexible Underwriting Guidelines
  • Higher Debt to Income Allowed
  • Lower Credit Scores – Down to 500
  • Down Payment Gifts Allowed

Alabama va Home Loans

100% Financing for Alabama Vets

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.
  • No Mortgage Loan Limits
  • Simple Qualifying
  • Higher Debt to Income Allowed
  • Lower Credit Scores – Down to 500
  • Manual Underwriting Allowed

Alabama Conventional Home loans

Flexibility for Alabama Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a loan officer.
  • Primary, 2nd Home, Investment Properties
  • Single and Multi-Family Properties
  • Variable Mortgage Insurance Options
  • Low Rates & a Variety of Mortgage Terms
  • Renovation Programs Available

Alabama Jumbo Home Loans

Alabama Non-Confirming Home Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today.
  • Primary & 2nd Homes
  • Variety of Mortgage Programs
  • Simple Qualifying for Veterans
  • Investor Specific Guidelines
  • Credit Score Minimums

Alabama USDA Home loans

100% Rural Alabama Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.
  • Primary Residences
  • No Down Payment Required
  • New Manufactured Homes Allowed
  • Closing Costs / Repairs Rolled In
  • Geographic and Income Limits Apply

Alabama Native american Home Loans

Alabama Hud 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.
  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed
  • Purchase, Refinance, and Renovation

Alabama Manufactured Home loans

Great Alternative Alabama Housing

Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.
  • Existing Purchase or Refinance
  • New Construction
  • One Time Close Land/Home Combo
  • Lock at Contract
  • FHA, VA, USDA, Native American

Alabama Reverse Mortgage Loans

Your Alabama Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.
  • Primary Residence Only
  • Simple Qualifying – Equity Based
  • No Credit Score Requirements
  • Minimum Age 62
  • Purchase, Refinance, and Cash-Out

Alabama Non QM Home loans

Making Alabama Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.
  • Purchase, Refinance & Cash-out
  • Primary, Secondary, Investment Properties
  • Full Doc Programs
  • Alt Doc Programs
  • Corporations OK

Alabama One Time Close Home Loans

Build Your Alabama Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.
  • Primary Residences Only
  • One Time Close
  • Lock Rate at Closing
  • Traditional Final Mortgages
  • No Payments During Construction

Alabama Refinance Mortgage loans

Alabama Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.
  • Lower Monthly Payment
  • Shorten Mortgage Term
  • Streamline Options Available
  • Appraisal Waivers Allowed
  • VA IRRRL’s

Alabama Cashout Mortgage Loans

Alabama Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.
  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Dream Vacation
  • Higher Education

Alabama Mortgage Team

Dale Gremillion

Manager / Sr Loan Officer
NMLS 210325

Conor Hayhurst

Manager / Sr Loan Officer
NMLS 743506

Brad Rund

Director Native American Lending
Director Manufactured Housing

Alabama Mortgage Company Reviews

AlabAMA Cities

Birmingham Home Loans

Montgomery Home Loans

Mobile Home Loans

Huntsville Home Loans

Tuscaloosa Home Loans

Hoover Home Loans

State Specific Mortgage Information
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