Birmingham Mortgage Broker
Find a Birmingham, Alabama (AL) mortgage broker. We have access to several Birmingham mortgage lenders who are competing for your business. Let us do the shopping for you.
Birmingham is Alabama’s largest city with a population of 242,820 people and over 110,000 housing units. Knowing this, it is not surprising to hear that the housing market has been steady but strong. Currently, there is an excess of homes on the market, which has in turn created ideal conditions for a buyers market. Many realtors are suggesting that buyers should take advantage of the situation and buy soon.
Alabama Mortgage Facts
- Non-Community Property State - Since Alabama is a non-community property state, you do NOT need to include the liabilities of your spouse, when applying for a Alabama mortgage, if you choose to leave them off of the loan.
- High Closing Cost State - HUD has determined certain states to be high closing cost states and others to be low closing cost states. Alabama is classified as a high closing cost state due to higher priced title fees. If you are moving to Alabama from another state, be aware of these costs.
- Mortgage Tax State - Be aware, there is a state tax that is assessed on all Alabama mortgages. This tax is $1.50 per $1000 of loan amount.