Alabama FHA Loans Offer ADVANTAGES, Purchase or Refinance Alabama FHA Loans Advantages to FHA Loans

By
Mortgage and Lending with 1st Continental Mortgage

Alabama FHA Loans, ADVANTAGES  Purchase or Refinance Alabama FHA Loans Advantages to FHA Loans 


Minimal Down Payment and Closing Costs for the Alabama Homebuyer.

· Down payment less than 3% of Sales Price and 100% financing options available

· Gift for down payment and closing costs are allowed up to 6% of Sales price.

· No reserves or savings required.

· Easy Credit Qualifying Guidelines

· No minimum FICO score or credit score requirements.

· FHA will allow a home purchase 2 years after a Bankruptcy.

· FHA will allow a home purchase 3 years after a Foreclosure.

Apply for  Alabama  FHA HOME LOAN TODAY!!

 How can FHA Benefit the Alabama Homebuyer?

  • Low Down Payments  
  • Low Closing Costs
  • Easy Credit Qualifying

What kind of programs does FHA have to offer me?

•·        Alabama  First Time Homebuyers: can have a down payment for as little as 3% of the purchase price, with closing costs included as part of the loan.

•·        Alabama Home Renovation: buy a home, re-model or renovate, and include the costs in the loan. Or renovate or repair a home you own, by refinancing your current mortgage to include of repairs in the loan.

•·        Alabama   FHA Energy-Efficient Loan: energy improvements into the mortgage.

•·        Alabama FHA Secure: a refinancing option for those with Adjustable Rates
http://www.fhahomeloanmortgage.com/



Alabama Mobile home loans

MUST BE ON PERMANENT FOUNDATION AND OWN LAND


Minimal Down Payment and Closing Costs.

· Down payment less than 3% of Sales Price and 100% Financing options available

· Gift for down payment and closing costs are allowed up to 6% of Sales price.

· No reserves or savings required.

· Easy Credit Qualifying Guidelines

· No minimum FICO score or credit score requirements.

· FHA will allow a home purchase 2 years after a Bankruptcy.

· FHA will allow a home purchase 3 years after a Foreclosure.


http://www.fhahomeloanmortgage.com/also known as 1st Continental Mortgage New Mexico Mortgage company is dedicated to spreading the word about the benefits of the FHA mortgage programs available to first time homebuyers. With the sub prime market in turmoil and many lenders tightening up guidelines many mortgage companies are going back to the basics. Not only is the FHA mortgage easy to qualify for but there are many advantages to the program that the average American in unaware of.
FHA mortgages are less expensive and easier for the first time homebuyer to qualify for. The program was created to help to increase homeownership in the United States. FHA program makes buying a home easier and less expensive than other types of real estate mortgage Programs. Some examples include,
Federal Housing Administration is a government program overseen by Housing and Urban Development (HUD) to help low to moderate income to help Americans to obtain FHA mortgage loan on a 1-4 unit home.

Income Requirements for an FHA Mortgage Loan:
There is no minimum income requirement to obtain an FHA mortgage Insurance, however, FHA would like to see steady income for at least 2 years, and demonstrate a consistently payment history.

Debt-to-Income Ratio
:
The FHA allows you to use 31% of your gross monthly income towards housing costs and 43% towards housing expenses reflected on your credit report. With a conventional loan the debt to income rations allows only 28% toward housing and 36% towards housing expenses and other debt. These requirements are not etched in stone and buyers can exceed these ratios if, you have a large down payment, have substantial cash reserves and other means to satisfy the mortgage payments.

Down Payment:

In order to qualify for an FHA mortgage you must have a down payment of at least 3% of the purchase price of the home. These funds can come from a friend, family member or a non profit.

 

 

Consider 1st Continental Mortgage for your next Alabama FHA mortgage. We offer all of the above and more and you can know with confidence, we specialize in FHA.

Proudly Serving These Communities:
Albertville | Anniston | Auburn | Birmingham | Cullman | Daphne | Decatur | Dothan
Enterprise | Fairhope | Florence | Gadsden | Huntsville | Mobile | Montgomery | Muscle Shoals
Opelika | Oxford | Ozark | Scottsboro | Selma
Sylacauga | Talladega | Troy | Tuscaloosa | Tuskegee Proudly Serving These Counties:
Autauga | Cleburne | Fayette | Limestone | Pike Baldwin | Coffee | Franklin | Lowndes
Randolph | Barbour | Colbert | Geneva | Macon | Russell | Bibb | Conecuh | Greene | Madison
Shelby | Blount | Coosa | Hale | Marengo | St. Clair | Bullock | Covington | Henry | Marion
Sumter | Butler | Crenshaw | Houston | Marshall | Talladega | Calhoun | Cullman | Jackson
Mobile | Tallapoosa | Chambers | Dale | Jefferson | Monroe | Tuscaloosa | Cherokee | Dallas
Lamar | Montgomery | Walker | Chilton | DeKalb | Lauderdale | Morgan | Washington | Choctaw
Elmore | Lawrence | Perry | Wilcox | Clarke | Escambia | Lee | Pickens | Winston | Clay | Etowah

Alabama FHA Limits


MSA Name County Name One - Family Two - Family Three - Family
MONTGOMERY, AL (MSA) AUTAUGA $200,160 $256,248 $309,744
DAPHNE - FAIRHOPE, AL (MICRO) BALDWIN $200,160 $256,248 $309,744
EUFAULA, AL - GA (MICRO) BARBOUR $200,160 $256,248 $309,744
BIRMINGHAM - HOOVER, AL (MSA) BIBB $200,160 $256,248 $309,744
BIRMINGHAM - HOOVER, AL (MSA) BLOUNT $200,160 $256,248 $309,744
NON-METRO BULLOCK $200,160 $256,248 $309,744
NON-METRO BUTLER $200,160 $256,248 $309,744
ANNISTON - OXFORD, AL (MSA) CALHOUN $200,160 $256,248 $309,744
VALLEY, AL (MICRO) CHAMBERS $200,160 $256,248 $309,744
NON-METRO CHEROKEE $200,160 $256,248 $309,744
BIRMINGHAM - HOOVER, AL (MSA) CHILTON $200,160 $256,248 $309,744
NON-METRO CHOCTAW $200,160 $256,248 $309,744
NON-METRO CLARKE $200,160 $256,248 $309,744
NON-METRO CLAY $200,160 $256,248 $309,744
NON-METRO CLEBURNE $200,160 $256,248 $309,744
ENTERPRISE - OZARK, AL (MICRO) COFFEE $200,160 $256,248 $309,744
FLORENCE - MUSCLE SHOALS, AL (MSA) COLBERT $200,160 $256,248 $309,744
NON-METRO CONECUH $200,160 $256,248 $309,744
ALEXANDER CITY, AL (MICRO) COOSA $200,160 $256,248 $309,744
NON-METRO COVINGTON $200,160 $256,248 $309,744
NON-METRO CRENSHAW $200,160 $256,248 $309,744
CULLMAN, AL (MICRO) CULLMAN $200,160 $256,248 $309,744
ENTERPRISE - OZARK, AL (MICRO) DALE $200,160 $256,248 $309,744
SELMA, AL (MICRO) DALLAS $200,160 $256,248 $309,744
FORT PAYNE, AL (MICRO) DE KALB $200,160 $256,248 $309,744
MONTGOMERY, AL (MSA) ELMORE $200,160 $256,248 $309,744
NON-METRO ESCAMBIA $200,160 $256,248 $309,744
GADSDEN, AL (MSA) ETOWAH $200,160 $256,248 $309,744
NON-METRO FAYETTE $200,160 $256,248 $309,744
NON-METRO FRANKLIN $200,160 $256,248 $309,744
DOTHAN, AL (MSA) GENEVA $200,160 $256,248 $309,744
TUSCALOOSA, AL (MSA) GREENE $200,160 $256,248 $309,744
TUSCALOOSA, AL (MSA) HALE $200,160 $256,248 $309,744
DOTHAN, AL (MSA) HENRY $200,160 $256,248 $309,744
DOTHAN, AL (MSA) HOUSTON $200,160 $256,248 $309,744
SCOTTSBORO, AL (MICRO) JACKSON $200,160 $256,248 $309,744
BIRMINGHAM - HOOVER, AL (MSA) JEFFERSON $200,160 $256,248 $309,744
NON-METRO LAMAR $200,160 $256,248 $309,744
FLORENCE - MUSCLE SHOALS, AL (MSA) LAUDERDALE $200,160 $256,248 $309,744
DECATUR, AL (MSA) LAWRENCE $200,160 $256,248 $309,744
AUBURN - OPELIKA, AL (MSA) LEE $200,160 $256,248 $309,744
HUNTSVILLE, AL (MSA) LIMESTONE $200,160 $256,248 $309,744
MONTGOMERY, AL (MSA) LOWNDES $200,160 $256,248 $309,744
TUSKEGEE, AL (MICRO) MACON $200,160 $256,248 $309,744
HUNTSVILLE, AL (MSA) MADISON $200,160 $256,248 $309,744
NON-METRO MARENGO $200,160 $256,248 $309,744
NON-METRO MARION $200,160 $256,248 $309,744
ALBERTVILLE, AL (MICRO) MARSHALL $200,160 $256,248 $309,744
MOBILE, AL (MSA) MOBILE $200,160 $256,248 $309,744
NON-METRO MONROE $200,160 $256,248 $309,744
MONTGOMERY, AL (MSA) MONTGOMERY $200,160 $256,248 $309,744
DECATUR, AL (MSA) MORGAN $200,160 $256,248 $309,744
NON-METRO PERRY $200,160 $256,248 $309,744
NON-METRO PICKENS $200,160 $256,248 $309,744
TROY, AL (MICRO) PIKE $200,160 $256,248 $309,744
NON-METRO RANDOLPH $200,160 $256,248 $309,744
COLUMBUS, GA - AL (MSA) RUSSELL $200,160 $256,248 $309,744
BIRMINGHAM - HOOVER, AL (MSA) SHELBY $200,160 $256,248 $309,744
BIRMINGHAM - HOOVER, AL (MSA) ST. CLAIR $200,160 $256,248 $309,744
NON-METRO SUMTER $200,160 $256,248 $309,744
TALLADEGA - SYLACAUGA, AL (MICRO) TALLADEGA $200,160 $256,248 $309,744
ALEXANDER CITY, AL (MICRO) TALLAPOOSA $200,160 $256,248 $309,744
TUSCALOOSA, AL (MSA) TUSCALOOSA $200,160 $256,248 $309,744
BIRMINGHAM - HOOVER, AL (MSA) WALKER $200,160 $256,248 $309,744
NON-METRO WASHINGTON $200,160 $256,248 $309,744
NON-METRO WILCOX $200,160 $256,248 $309,744
NON-METRO WINSTON $200,160 $256,248 $309,744

 

 

Other FHA Links listed below

 

 

FHA CONNECTION
Https://entp.hud.gov/clas/
FHA CONNECTION may be accessed by password only by registered lenders

 

FHA Frequently Asked Question

http://www.fhamortgageprograms.com/faq/fha.shtml

FHA Frequently Asked Questions for Homebuyers

 

GOLDEN FEATHER REALTY
Http://www.goldenfeather.com/
The contact to bid on HUD-acquired properties.

 

HUD SANTA ANA
http://www.hud.gov/local/sna/index.html
HUD's SANTA ANA HOMEOWNERSHIP CENTER

 

HUD REFERENCE GUIDE (4155)
http://www.hud.gov/hoc/sna/snapintr.htmll
SANTA ANA HOC REFERENCE GUIDE
FHA underwriting guidelines

 

HUD HOME PAGE
Http://www.hud.gov/
United States Department of Housing and Urban Development (HUD) Home Page.

 

 

HUD LENDERS & SERVICERS Http://www.hud.gov/lenders1.html
HUD news, forms, handbooks, and mortgagee letters.

 

HUD INFORMATION
Http://www.hud.gov/mortprog.html
FEDERAL MORTGAGE PROGRAM INFO: approved condos, loan limits, counseling centers, etc.

 

HOME BUYERS INFORMATION
Http://www.hud.gov/mortconv.html
Mortgage calculators, wish list, FHA programs, shopping for a home, building, rehab, ARM Handbook

FHA Official Site http://www.hud.gov/offices/hsg/fhahistory.cfm

 

FHA ON MOBILE HOMES

http://www.hud.gov/offices/hsg/sfh/title/repair.cfm

FHA on Mobile Home Information

 

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