FIRST TIME HOME BUYER PROGRAMS ALABAMA

FHA First Time Home Buyer Programs have been helping Alabama residents since 1934! 

 

FIRST TIME HOME BUYER PROGRAMS ALABAMA

A knowledgeable & licensed Alabama 'First Time Home Buyer Program' Specialist can offer you a better loan including:

  • Low down payments (if any)

  • 24 Hour Pre-Approval

  • Low closing costs

  • Easier credit qualifying

  • Access to many of the Unique &

    State Specific Federal Government Backed Programs that may be available to Alabama First Time Buyers.

Alabama First Time Home Buyer Loan

If you’re buying your first home, then this is the perfect place to start. And don't fear: We have the first time home buyer specialist that answer all the questions you want to ask, — and, those you haven't thought of yet.  home easier and less expensive than any other types of real estate mortgage home loan programs.

Buy a home in Alabama with help from a Family Member

When buying a home, almost every lender will want to know where your down payment came from. If someone in your family is helping you with that down payment, it is called a Gift of Equity, a special FHA loan program.

Alabama USDA Home Loan

If you live in a small town, rural area or farmlands situated in a location approved by USDA Rural Development, you may be able to purchase a home with up to 100% financing. The United States Department of Agriculture (USDA) were designed to encourage rural development, meaning city homes are excluded. United States Department of Agriculture (USDA) sets lending guidelines for the program, which is why it can feel confident in your home financing decisions with step-by-step guidance from an experienced USDA Mortgage Banker.

 

Buying a 'Fixer Upper' in Alabama & Adding Additional Funds for Home Improvements

An FHA 203K Purchase and Rehab Loan can work in this situation. The 203K has many advantages. Put simply it is a mortgage insured by FHA that allows a home buyer to add rehab funds into a mortgage.

VA Veterans Home Loans in Alabama

The VA Home Loan is a Federal Program designed for United States Armed Forces, Military Retiree, Veterans, National Guard and Reservists, as well as Spouses.

Alabama Construction Home Loan

At last, a single loan that lets borrowers finance the construction of their home. You can even 'bundle the purchase of the land' land with your construction loan under what is called the 'One Time Close' loan. Guidelines for this program, can be found by clicking here: 'FHA Construction Loan Programs'  or here: 'VA Construction Loan Programs'

Buying a 2 Family or 3 Family Investment Property in Alabama

You can buy from a duplex residence all the way up to a 4 unit home with a Government Backed FHA Loan , as long as the property is owner occupied. .

 

Alabama First Time Home Loan

How it works:

 

√   Determine the type of Government Backed Loan that best fits your needs.

 

√   Complete an easy 2 minute application form.

 

√   We will forward your application to one and only one  FHA or VA Approved First Time Home Buyer Lender who can best help you based upon:

 

  • The type of loan you requested

  • Your down-payment (if purchase loan)

  • The location (State) your property is located

  • Your credit history

  • The best rate available for your loan

 

√   A First Time Home Buyer Specialist will respond within 1 business day. They will explain what type of loan you are approved for, and the options available to you. 

 

√   That same day, your First Time Home Lender will overnight your pre-approval letter to you.

 

√   Review with no obligation your First Time Home Buyer Pre-Approval Letter and locked rate. 

 

Note- It is very important that you keep this letter. It is your official pre-approval on bank letterhead with your approval information, and if purchasing a house, it is equally important that you present this letter to the real estate agent to confirm your pre-qualification status.              

Alabama FHA Lending Limits 2017

Alabama Median Home Sale Price Price $143,000

 

County Name Single Duplex 3 Unit 4 Unit
AUTAUGA $275,665 $352,950 $426,625 $530,150
BALDWIN $275,665 $352,950 $426,625 $530,150
BARBOUR $275,665 $352,950 $426,625 $530,150
BIBB $275,665 $352,950 $426,625 $530,150
BLOUNT $275,665 $352,950 $426,625 $530,150
BULLOCK $275,665 $352,950 $426,625 $530,150
BUTLER $275,665 $352,950 $426,625 $530,150
CALHOUN $275,665 $352,950 $426,625 $530,150
CHAMBERS $275,665 $352,950 $426,625 $530,150
CHEROKEE $275,665 $352,950 $426,625 $530,150
CHILTON $275,665 $352,950 $426,625 $530,150
CHOCTAW $275,665 $352,950 $426,625 $530,150
CLARKE $275,665 $352,950 $426,625 $530,150
CLAY $275,665 $352,950 $426,625 $530,150
CLEBURNE $275,665 $352,950 $426,625 $530,150
COFFEE $275,665 $352,950 $426,625 $530,150
COLBERT $275,665 $352,950 $426,625 $530,150
 
CONECUH $275,665 $352,950 $426,625 $530,150
COOSA $275,665 $352,950 $426,625 $530,150
   TALLADEGA-SYLACAUGA, AL
COVINGTON $275,665 $352,950 $426,625 $530,150
   NON-METRO
CRENSHAW $275,665 $352,950 $426,625 $530,150
CULLMAN $275,665 $352,950 $426,625 $530,150
   CULLMAN, AL
DALE $275,665 $352,950 $426,625 $530,150
   OZARK, AL
DALLAS $275,665 $352,950 $426,625 $530,150
   SELMA, AL
DEKALB $275,665 $352,950 $426,625 $530,150
ELMORE $275,665 $352,950 $426,625 $530,150
   MONTGOMERY, AL
ESCAMBIA $275,665 $352,950 $426,625 $530,150
ETOWAH $275,665 $352,950 $426,625 $530,150
   GADSDEN, AL
FAYETTE $275,665 $352,950 $426,625 $530,150
FRANKLIN $275,665 $352,950 $426,625 $530,150
GENEVA $275,665 $352,950 $426,625 $530,150
   DOTHAN, AL
GREENE $275,665 $352,950 $426,625 $530,150
HALE $331,200 $424,000 $512,500 $636,900
   TUSCALOOSA, AL
HENRY $275,665 $352,950 $426,625 $530,150
   DOTHAN, AL
HOUSTON $275,665 $352,950 $426,625 $530,150
   DOTHAN, AL
JACKSON $275,665 $352,950 $426,625 $530,150
   SCOTTSBORO, AL
JEFFERSON $275,665 $352,950 $426,625 $530,150
   BIRMINGHAM-HOOVER, AL
LAMAR $275,665 $352,950 $426,625 $530,150
LAUDERDALE $275,665 $352,950 $426,625 $530,150
   FLORENCE-MUSCLE SHOALS, AL
LAWRENCE $275,665 $352,950 $426,625 $530,150
   DECATUR, AL
LEE $275,665 $352,950 $426,625 $530,150
   AUBURN-OPELIKA, AL
LIMESTONE $275,665 $352,950 $426,625 $530,150
   HUNTSVILLE, AL
LOWNDES $275,665 $352,950 $426,625 $530,150
   MONTGOMERY, AL
MACON $275,665 $352,950 $426,625 $530,150
MADISON $275,665 $352,950 $426,625 $530,150
   HUNTSVILLE, AL
MARENGO $275,665 $352,950 $426,625 $530,150
MARION $275,665 $352,950 $426,625 $530,150
MARSHALL $275,665 $352,950 $426,625 $530,150
   ALBERTVILLE, AL
MOBILE $275,665 $352,950 $426,625 $530,150
   MOBILE, AL
MONROE $275,665 $352,950 $426,625 $530,150
MONTGOMERY $275,665 $352,950 $426,625 $530,150
   MONTGOMERY, AL
MORGAN $275,665 $352,950 $426,625 $530,150
   DECATUR, AL
PERRY $275,665 $352,950 $426,625 $530,150
PICKENS $331,200 $424,000 $512,500 $636,900
   TUSCALOOSA, AL
PIKE $275,665 $352,950 $426,625 $530,150
   TROY, AL
RANDOLPH $275,665 $352,950 $426,625 $530,150
RUSSELL $289,800 $371,000 $448,450 $557,300
   COLUMBUS, GA-AL
SHELBY $275,665 $352,950 $426,625 $530,150
   BIRMINGHAM-HOOVER, AL
ST. CLAIR $275,665 $352,950 $426,625 $530,150
   BIRMINGHAM-HOOVER, AL
SUMTER $275,665 $352,950 $426,625 $530,150
TALLADEGA $275,665 $352,950 $426,625 $530,150
   TALLADEGA-SYLACAUGA, AL
TALLAPOOSA $275,665 $352,950 $426,625 $530,150
TUSCALOOSA $331,200 $424,000 $512,500 $636,900
   TUSCALOOSA, AL
WALKER $275,665 $352,950 $426,625 $530,150
   BIRMINGHAM-HOOVER, AL
WASHINGTON $275,665 $352,950 $426,625 $530,150
WILCOX $275,665 $352,950 $426,625 $530,150
WINSTON $275,665 $352,950 $426,625 $530,150