The FHA in Alabama
Alabama First Time Home Buyer Loan
We understand the magnitude of this decision and it is our goal to make your transition into home ownership unforgettable. Our FHA First-Time Homebuyer Specialists help you with FREE same day pre-approvals, low down payment programs, and savings on everything from appliances to moving expenses. FHA First Time Home Buyer (FTHB) offer a variety of programs to help potential homeowners navigate the home buying process.
Program Features:
- Low Down Payment Programs: Having a low down payment option is one of the main reasons FHA loans appeal to first-time homebuyers. In some cases, borrowers can qualify for a down payment as low as 3.5%.
- Credit History Leniency Rhode Island FHA home loans are more accessible than Conventional Mortgages. This makes them popular with a wide range of borrowers.
- Lower Interest Rates FHA loans may have some of the lowest interest rates available.
- FHA Loan Limits FHA loan limits can be extended in areas with higher home prices
- Co-Borrower Acceptance Parents can co-borrow with their child, even if the child has minimal or no income.
The important step in purchasing a new home is to get an FHA Pre-Approval Letter for a home loan. The peace of mind that comes with knowing that your mortgage loan has been approved will allow you to shop for your new home with confidence. And when you are ready to make an offer, the fact that you have already been pre-approved for your loan amount will give the seller confidence in you as a buyer.
Alabama Mobile / Manufactured Loan Programs (Title I)
The purchase, or refinancing of a Mobile/Manufactured Home (on private land, leased land or a mobile home park) can be a significant decision. An FHA Loan Specialist can simplify this process by offering Alabama residents state specific solutions and a pre-approval within hours.
FHA Refinance Loans
FHA Streamline Refinance
An FHA Streamline refers only to the amount of documentation and underwriting that an FHA Lender must perform. Borrowers may even elect to not provide income and credit documentation.
FHA Cash Out Refinance
Most Alabama homeowners have some money tied up in the equity of their home. To get access to this money, for any personal reason, you can refinance your home to 85 percent of it’s value and take ‘Cash-Out’.
FHA Rehab or Home Improvement Loan
The FHA offers a few types of Home Improvement Loans to help homeowners afford home repairs, including individuals (‘do-it-yourselfers’) or contractors.
Alabama Down Payment Assistance Programs
Alabama’s First Step program provides down payment assistance to eligible first-time homebuyers in Alabama.
Alabama’s Step Up Home Ownership Program is designed specifically for moderate-income home buyers who can afford a mortgage, but need help with the down payment.
Alabama Reverse Mortgage for Seniors
Many older Alabama residents need greater financial security to supplement social security, meet unexpected medical expenses, make home improvements, and more. The nations fastest growing solutions is an FHA Government Insured Reverse Mortgage or HECM (Home Equity Conversion Mortgage).
| County name | One unit | Two units | Three units | Four units | Median sales price |
|---|---|---|---|---|---|
| AUTAUGA | $498,257 | $637,950 | $771,125 | $958,350 | $191,000 |
| BALDWIN | $498,257 | $637,950 | $771,125 | $958,350 | $295,000 |
| BARBOUR | $498,257 | $637,950 | $771,125 | $958,350 | $128,000 |
| BIBB | $498,257 | $637,950 | $771,125 | $958,350 | $299,000 |
| BLOUNT | $498,257 | $637,950 | $771,125 | $958,350 | $299,000 |
| BULLOCK | $498,257 | $637,950 | $771,125 | $958,350 | $104,000 |
| BUTLER | $498,257 | $637,950 | $771,125 | $958,350 | $134,000 |
| CALHOUN | $498,257 | $637,950 | $771,125 | $958,350 | $120,000 |
| CHAMBERS | $498,257 | $637,950 | $771,125 | $958,350 | $182,000 |
| CHEROKEE | $498,257 | $637,950 | $771,125 | $958,350 | $130,000 |
| CHILTON | $498,257 | $637,950 | $771,125 | $958,350 | $299,000 |
| CHOCTAW | $498,257 | $637,950 | $771,125 | $958,350 | $114,000 |
| CLARKE | $498,257 | $637,950 | $771,125 | $958,350 | $163,000 |
| CLAY | $498,257 | $637,950 | $771,125 | $958,350 | $99,000 |
| CLEBURNE | $498,257 | $637,950 | $771,125 | $958,350 | $167,000 |
| COFFEE | $498,257 | $637,950 | $771,125 | $958,350 | $170,000 |
| COLBERT | $498,257 | $637,950 | $771,125 | $958,350 | $160,000 |
| CONECUH | $498,257 | $637,950 | $771,125 | $958,350 | $119,000 |
| COOSA | $498,257 | $637,950 | $771,125 | $958,350 | $160,000 |
| COVINGTON | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| CRENSHAW | $498,257 | $637,950 | $771,125 | $958,350 | $123,000 |
| CULLMAN | $498,257 | $637,950 | $771,125 | $958,350 | $160,000 |
| DALE | $498,257 | $637,950 | $771,125 | $958,350 | $118,000 |
| DALLAS | $498,257 | $637,950 | $771,125 | $958,350 | $55,000 |
| DEKALB | $498,257 | $637,950 | $771,125 | $958,350 | $86,000 |
| ELMORE | $498,257 | $637,950 | $771,125 | $958,350 | $191,000 |
| ESCAMBIA | $498,257 | $637,950 | $771,125 | $958,350 | $138,000 |
| ETOWAH | $498,257 | $637,950 | $771,125 | $958,350 | $196,000 |
| FAYETTE | $498,257 | $637,950 | $771,125 | $958,350 | $68,000 |
| FRANKLIN | $498,257 | $637,950 | $771,125 | $958,350 | $97,000 |
| GENEVA | $498,257 | $637,950 | $771,125 | $958,350 | $177,000 |
| GREENE | $498,257 | $637,950 | $771,125 | $958,350 | $205,000 |
| HALE | $498,257 | $637,950 | $771,125 | $958,350 | $205,000 |
| HENRY | $498,257 | $637,950 | $771,125 | $958,350 | $177,000 |
| HOUSTON | $498,257 | $637,950 | $771,125 | $958,350 | $177,000 |
| JACKSON | $498,257 | $637,950 | $771,125 | $958,350 | $163,000 |
| JEFFERSON | $498,257 | $637,950 | $771,125 | $958,350 | $299,000 |
| LAMAR | $498,257 | $637,950 | $771,125 | $958,350 | $146,000 |
| LAUDERDALE | $498,257 | $637,950 | $771,125 | $958,350 | $160,000 |
| LAWRENCE | $498,257 | $637,950 | $771,125 | $958,350 | $202,000 |
| LEE | $498,257 | $637,950 | $771,125 | $958,350 | $303,000 |
| LIMESTONE | $498,257 | $637,950 | $771,125 | $958,350 | $285,000 |
| LOWNDES | $498,257 | $637,950 | $771,125 | $958,350 | $191,000 |
| MACON | $498,257 | $637,950 | $771,125 | $958,350 | $121,000 |
| MADISON | $498,257 | $637,950 | $771,125 | $958,350 | $285,000 |
| MARENGO | $498,257 | $637,950 | $771,125 | $958,350 | $128,000 |
| MARION | $498,257 | $637,950 | $771,125 | $958,350 | $103,000 |
| MARSHALL | $498,257 | $637,950 | $771,125 | $958,350 | $155,000 |
| MOBILE | $498,257 | $637,950 | $771,125 | $958,350 | $157,000 |
| MONROE | $498,257 | $637,950 | $771,125 | $958,350 | $84,000 |
| MONTGOMERY | $498,257 | $637,950 | $771,125 | $958,350 | $191,000 |
| MORGAN | $498,257 | $637,950 | $771,125 | $958,350 | $202,000 |
| PERRY | $498,257 | $637,950 | $771,125 | $958,350 | $123,000 |
| PICKENS | $498,257 | $637,950 | $771,125 | $958,350 | $205,000 |
| PIKE | $498,257 | $637,950 | $771,125 | $958,350 | $131,000 |
| RANDOLPH | $498,257 | $637,950 | $771,125 | $958,350 | $275,000 |
| RUSSELL | $498,257 | $637,950 | $771,125 | $958,350 | $277,000 |
| SHELBY | $498,257 | $637,950 | $771,125 | $958,350 | $299,000 |
| ST. CLAIR | $498,257 | $637,950 | $771,125 | $958,350 | $299,000 |
| SUMTER | $498,257 | $637,950 | $771,125 | $958,350 | $115,000 |
| TALLADEGA | $498,257 | $637,950 | $771,125 | $958,350 | $108,000 |
| TALLAPOOSA | $498,257 | $637,950 | $771,125 | $958,350 | $160,000 |
| TUSCALOOSA | $498,257 | $637,950 | $771,125 | $958,350 | $205,000 |
| WALKER | $498,257 | $637,950 | $771,125 | $958,350 | $69,000 |
| WASHINGTON | $498,257 | $637,950 | $771,125 | $958,350 | $157,000 |
| WILCOX | $498,257 | $637,950 | $771,125 | $958,350 | $120,000 |
| WINSTON | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |