Latest Real Estate News

                               

                                   Breaking News!

          FHA to ban lenders from charging extra interest payments on mortgages! Home owners have had to pay interest on their mortgages after they have been paid off for the last decade! Well no more! 

           

           A pilot program is helping low income borrowers get a 15 year home loan! Ed Pinto at American Enterprise Institute has teamed up with Bruce Marks who leads Neighborhood Assistance Corp. of America has come up with a viable mortgage for low to moderate income borrowers to build wealth by buying a home. Since the loan is a 15 year then it  is more likely to hold value. The payoff and equity build faster, with a crazy low interest rate of 1- 2%! This program calls for a max debt to income ratio of 41%. This pilot program is initially offered nationwide through 37 NACA offices.

https://www.naca.com/          

529 Beacon Pkwy W, Birmingham, AL 35209 (205) 942-8111

‎Purchase Program - ‎Home Save Program

           
               I have spent the last few weeks viewing older and historic homes for sale in Birmingham,
what an experience! The thing I took away from it is that older homes don't mean that their will be lots of renovation needed, sometimes it will, but the charm of older homes is something that you will not find in new homes, if you did add all the wood to do built in's and all the molding, not to mention the original lighting then it would be very expensive. These homes have a story from every family it has sheltered within it's walls. The neighborhoods have a great ambiance to them as well, usually with in walking distance to parks and restaurants!

               The new construction is and will be on the rise over the next 2-3 years. Everyone loves new homes but be one the cautious side, new doesn't mean the new crews hired and just getting back into the swing won't make mistakes. I support all builders building in this area and I wish them lots of success, as an agent that must work for the buyers best interest it is my duty to get the best house I can for their budget so they may to be sheltered with in those walls without worry.

                 If you find the location you want to live in just know that lots of others will want to do the same and a move in ready house will be fought over. If you find a house that needs updateing, please dont pass it over! You can get a renovation loan and have it fixed up BEFORE you move in and not pay that first house payment untill you do. It can be done!

                  For more information about renovation loans please email or call me!

majones@realtysouth.com or 205-616-0119