No Down Payment Home Loan!
Being a homeowner allows you to build equity and gives you control over rising housing expenses. Our Buyer's Advantage product is designed to make homeownership more accessible to qualified low-to-moderate income borrowers in Alabama and Tennessee. If you live in Huntsville, AL, North Alabama or Fayetteville, TN, please give me a call about this loan.
Your Path to Homeownership - No Down Payment Required.
Dreaming of owning a home in Huntsville, AL or anywhere in Alabama? With our Buyers Advantage Loan, you can have a home mortgage with No Down Payment!
What is our Buyer's Advantage Home Loan?
This 100% financing loan covers the entire purchase price of your home, eliminating the need for down payment. This loan option is ideal for first time home buyers or anyone who qualifies based on credit, income, and property location.
With our Buyers Advantage Loan Program, you can enjoy the benefits of homeownership sooner rather than later. Say goodbye to renting and start building equity in your own home. I am here to guide you through the process and help you find the best financing solution for your needs.
Have Questions about Home Loans?
How much can I afford to purchase?
The home you can afford is based on the amount of mortgage loan you can comfortably support. Generally, the amount of mortgage you qualify for is based on some basic information such as: your income, debts, assets, credit history, current employment situation, and any other obligations you may owe. Another factor that will impact the amount of home you can afford is how much cash is required for down payment and closing costs.
Should I get Preapproved for a mortgage before I shop for a home?
Establish your budget and determine how much you can afford to spend on your new home by getting pre-approved. Taking this action before shopping ensure that you are shopping for a home with a list price that you are comfortable with when it is time to make an offer.
How much cash will I need for closing costs?
Closing costs generally range from 2% to 3% of your loan amount. Closing costs can be divided into three main categories:
Lender fees. Fees can include origination and points.
Third-party fees. These fees vary by state and the attorney you select to close your loan. They can include attorney’s fees for closing, title exam, credit report, appraisal, title insurance and recording.
Prepaid items. These are items collected at the time of closing but are not really considered costs including interim interest, taxes, and hazard insurance.
You will be provided with an estimate of your closing costs soon after your application has been received. These estimates could change if you change the product type or loan amount.
Can My Closing Costs Be Paid By the Seller?
Yes. You will need to ask your realtor to negotiate that the seller pays up to 3% of the purchase price towards your closing cost and prepaids.
There are income and credit limits. Contact me for more information.
To see if you qualify for 100% financing, please call at 256-542-1517
* Even though I am located in Huntsville, AL, service Alabama, Tennessee, Florida, Georgia, South Carolina, North Carolina, Virginia, Colorado and Texas.
Contact us today at 256-542-1517 or email us at tjbyrne@southstatebank.com to learn more about our 100% mortgage financing options and start your journey towards homeownership.