From what you have shared, it sounds like you will be able to obtain a loan. There are other financial requirements that affect your loan approval. That is why it is wise to consult a mortgage company. They will work with you to get you approved. This is the best and suggested first step in the home purchase process. Sellers expect the buyer to be preapproved. REO properties insist on this approval letter upon acceptance of your offer. There are many good companies in the area. If you need some suggestions, I can provide a list of several to choose from. I will also be happy to assist you with your home search. Please feel free to contact me any time.
ABR, CRS, REO, SRES... more
A document issued by title insurance underwriters that indemnifies a third party, generally a lender, as to one of its policy-issuing agentâ€™s escrow practices. In other words, title companies insure title but this letter also extends certain assurances as to an agentâ€™s behavior in closing real estate transactions.... more
This is going to have to be your personal preference. I would start by making a list of pros and cons on both homes. I live in a home that was built in the 1890's (montevallo). It has been completely redone- factors we have to contend with- it has been harder to heat due to higher ceilings and structure of the home, we had to make sure electricity had changed to code, our home has a crawl space that had not been insulated so we had to insulate all piping due to unprocted pipes. But overall, I needed this home, it outweighed the issues. The character you find in these older homes, you cant get in a newer home. Also, these homes were not built in 2 weeks like SOME of the newer construction. If you are looking in Montevallo/alabaster/calera/helena, I would love to help you find your home. I live in Montevallo. Take care and good luck. I tell my clients... You will know when you feel at home, that is where you need to be.
Keller Williams-metro south