Saturday, December 16, 2017

31216 Buckingham Blvd. Spanish Fort, Al 36527

For more info click on  link  31216 Buckingham Blvd. Spanish Fort, AL. 36527 

Home for Sale in popular Churchill subdivision of Spanish Fort. This custom built craftsman has added upgrades and features that venture beyond the choices of the surrounding new construction alternatives. From the curb, this 1.5 story home offers a courtyard entrance into an over sized two car garage and lights up beautifully at night with recessed lighting and custom color LED lights. Through the front door, is an open living / dining / kitchen combo that features a dream kitchen for the family chef. (Check out the instant hot water tap!) The open living area has custom shelving, hardwood floors, and surround speakers. The four bedrooms are all on the main level and are designed in a split floor plan. All the bedrooms feature hard wood flooring and are equipped with built in speakers for music listening and the Sentrilite light system (check out the Dim feature, lighting the path at night to the bathroom and kitchen). The home offers two bonus rooms, one adjacent to the master bedroom (which would make a great workout room or large office and a larger bonus room above the garage. The master bedroom offers an attractive escape from the day with custom pendant lights on either side of the bed and a gorgeous master bath with incredible tile details in the shower. The master closet has a custom designed organizer that has both shelving and hang up options. Also, throughout the entire house, every room has controllable recessed lighting. In the backyard, the screened back porch offers plenty of space for watching the ball game, sharing a meal, and listening to music. Extra bonus amenities include: a tankless water heater, extra foam insulation, and hurricane panels for windows. As you can see, no detail has been missed in this home! Neighborhood dues include maintenance for the community swimming pool and playground.

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Friday, December 8, 2017

HOW TO BEGIN YOUR HOME LOAN PROCESS

WHAT DO I DO FIRST WHEN APPLYING FOR A HOME LOAN?

It is hard to know where to begin!  You must first ask yourself many questions.Some of these are:
    Mortgage Loan
  • How much can I afford to pay each month?
  • Do I plan on keeping this house for only a few years or for a long period of time?
  • Is a small payment a higher priority than paying the loan down quickly?
  • Am I able to make a down payment?
  • Over how many years do I want to pay a mortgage?
  • Am I trying to purchase or refinance an existing mortgage?
The answer to these questions will help you know which loan will be best for you. There are a wide variety of loan options, so it will be useful to know some of the basic tendencies. In general:
  • The larger the down payment, the better your options are for payment size, interest rate, and length of time to pay back the loan.
  • A fixed-interest rate will tend to be higher than an adjustable rate.
  • The longer the term of payback, the smaller the payment.
  • The smaller your payment, the larger the amount that is going to interest.
  • The more that you pay to interest, the slower that you are building equity.
It is also useful to understand the essential differences in types of loans. There are really only three basic types of loans:
  • Fixed Interest Mortgages (FRM)
  • Adjustable Rate Mortgages (ARM)
  • a Hybrid ( some combination of the other two)
Loans are also classified as either government loans or conventional loans.
Conventional loans are further broken down into either conforming or non-conforming loans. To qualify as a conforming loan (or an A paper loan), it must fall under the guidelines established by Fannie Mae and Freddie Mac, corporations that have established industry standards and guidelines that govern credit requirements, down payment amounts and maximum loan amounts.
Once you have these general types down, you will still have to look at the individual features of specific loan types to determine which one will best meet your needs.
Your loan options can be limited by poor credit. A credit score is a system of points earned based on your credit history. This three-digit number (raging from 300 to 900) is influenced by such factors, among others, as:
  • late payments
  • debt to credit ratio
  • total debt amount
  • age of accounts (the older the better)
There are three major credit bureaus (Experian, Equifax and TansUnion) that produce comparable credit scores using some version of FICO, the industry standard developed originally by Fair Isaac and Company. Because this credit score is used by most lenders to determine your qualifications for a loan, you may want to see what you can do to increase your credit score before you apply for a mortgage.
So, the bottom line: Start with your credit score; end with the specific loan type that is most appropriate to your needs.

WHAT ARE THE CLOSING COST ON A HOME LOAN?


house closing                

                ARE YOU ABOUT TO CLOSE ON YOUR HOME?
                             
What costs should I expect at the loan closing?

 At the loan closing, you will be required to pay your down payment and other various closing costs and fees. Most of the closing fees are paid by the buyer, but some of the fees are prorated, by date, to the seller and the buyer. In order to be prepared to pay the closing costs, you may request a Good Faith Estimate from the lender. However, the estimate often differs from the actual closing costs, so it is important to understand what to expect. Before you make long term decisions about the terms of your mortgage, such as locking in an interest rate, you should review the Good Faith Estimate to determine if there are hidden costs that may change your decision. Typically, total closing costs will be from 2-6% of your mortgage amount. Although the Good Faith Estimate is subject to change, under (RESPA) the Real Estate Settlement Procedures Act, you have a right to request a CD-Settlement Statement (one day before the actual settlement or closing). The CD-details the actual fees that will be required. It is important to review this statement to ensure that you agree with and understand all the costs and fees listed. At times, fees such as the application fee, credit report fee, or the appraisal fee may be required with the loan application before the closing. Certain fees vary from lender to lender, but generally, taxes, appraisals, credit reports and title insurance should be comparable for all borrowers. Sometimes, your fees may be included in the mortgage amount, depending on the terms negotiated. But generally, the buyer comes prepared to pay the related fees at the time of the loan closing.

COMMON CLOSING COST FEES ARE AS FOLLOWS:
Loan Origination Fee: a percentage of the mortgage (generally 1%), charged to set up and evaluate the loan application.
Application Fee: required by the lender to process your loan application, often required with the application, generally non-refundable.
Credit Report Fee: requested by the lender in order to evaluate your loan application (generally obtained from one of three major credit reporting agencies: Equifax, Experian, TransUnion).
Appraisal Fee: used to obtain an independent appraisal of the home to be mortgaged; the appraisal is a factor in determining the amount the lender will loan.
Survey Fee: may be required - verifies the legal position of the home on the property and ensures that there has been no encroachment on the property.
Title Search Fee: charged for a detailed search of the historical records related to a property to ensure that the seller is legal owner, that there are no liens, restrictive covenants, outstanding judgments or other claims against the property (A certificate of title issued as a result of a title search does not necessarily protect against hidden defects which did not show up in the search – often the lender will require title insurance for protection against such claims).
Title Insurance: often required by the lender for protection against hidden title defects; a lender’s policy only protects the lender – a buyer may also opt to purchase an owner’s title insurance policy.
Discount Points: optional payment to lower the interest rate (each point is 1% of the mortgage amount - $120,000 mortgage discount point would cost $1,200 and typically lower the interest rate by 0.125 percent).
Recording or Transfer Fees: a small fee charged to cover the paperwork to record the home purchase and transfer ownership.
Interim Interest: interest from the closing date to the end of the month generally charged to the buyer
Property Taxes: buyer’s prorated portion of state and local government property taxes already paid by the seller (such as annually paid taxes).
Escrow Account Payments: (often required by the lender) charges to cover costs or payments which will be due after the closing; escrow accounts are often set up to continue for the life of the loan, where a specified portion of the mortgage payment goes into escrow to cover certain on-going property related expenses and payments such as taxes and insurance.




Wednesday, November 22, 2017

563 Begeman Rd Mobile, AL 36608


  BRAND NEW SUBDIVISION ....  MAXWELL PLACE...
             BUILDERS ARE MITCHELL HOMES AND JOHN HOWARD HOMES
                   Homes for sale for more info click link :  563 Begeman Rd Mobile, AL. 36608
           
This Silver Fortified new construction craftsman style home flourishes with quality, from low maintenance brick exterior, cement board siding, decorative accent, dimensional shingles, double pane windows, insulated steel doors, energy efficient Radiant Barrier TechShield that reduces attic temperature by up to 30% and galvanized steel storm protection. The front porch welcomes you with craftsman style double door entrance. Step into the foyer that has pre-engineered hand-scraped wood floors that flow into the formal dining and living room. The open kitchen and living room are adjoined with a massive hop-up eat at bar. The kitchen is sure to be enjoyed with a large prep-island, an abundance of granite counter tops, stainless appliances, built-in microwave, walk-in pantry and low maintenance ceramic tile floors, and easy access to rear covered porch that allows more room for entertaining. The large master suite has raised ceiling with fan, a sitting area and accesses the master bath with double sinks, over-sized tub, 2 large windows that allow natural light, separate marble shower and large walk-in closet. This is a brand new community in a great area. 

WANT TO VIEW MORE HOMES IN THIS BRAND NEW SUBDIVISION CLICK HERE

CLICK HERE TO SEARCH HERE FOR YOUR BALDWIN OR MOBILE COUNTY DREAM HOME

8201 Rock Rd. Coden AL. in South Mobile, County AL.

 
 For more info click link  Home for Sale 8201 Rock Rd. in Mobile AL. (County)

3 bedroom 2 bath home on nice large tree shaded lot. A short walk to the canal. Split brick and hardwood Floors. Potbelly wood-burning stove heats the house well. Large Storage and large workshop with carport between them. This home is in the 500 year Floodplain, this home has not flooded.

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