44 search results for renovation loans
What is an Assumable Mortgage? Article
What Is an Assumable Mortgage?An assumable mortgage is a type of home loan that allows a buyer to take over the existing mortgage from the seller. This means that the buyer essentially steps into the shoes of the seller and assumes responsibility for...
Seller Concessions: What can a seller contribute to their home sale? Article
What is a seller concession? Buyers can request that the seller contribute to some of their out-of-pocket costs when submitting an offer on a home. If agreed upon, this is referred to as a seller concession. Why would a seller make concessions?...
DID YOU KNOW - A 20% Down Payment is Not Required to Buy a Home Article
Coming up with enough cash for a down payment is one of the most common struggles among first-time buyers. However, in most cases, you don’t need to put 20% down on a home – especially your first home! So how much do you need to put down?...
Build Your Dream Home with a Construction Loan Article
Whether you’re struggling to find a home that fits your needs, or you’re finally ready to build your forever home, our construction specialists will help you build your dream home on a strong foundation. With a variety of construction pro...
VA and FHA Cut Costs for Home Buyers Article
Huge news for home buyers! The FHA and VA recently reduced their Mortgage Insurance Premium and Funding Fee, respectively. This will help FHA and VA home buyers save money on their home purchase or refinance.FHA: The Federal Housing Administration ...
Award-Winning Excellence Article
TowneBank Mortgage is thrilled to announce a wave of recent awards, solidifying our position as a leader in exceptional service and industry achievement! Scotsman Guide Recognizes Top PerformanceWe're honored to be recognized by the esteem...
Mortgage 101: Key Questions to Ask Your Loan Officer Article
Embarking on the journey to homeownership can be overwhelming, especially when it comes to understanding mortgages. To help you make confident, well-informed decisions, we've compiled mortgage 101: key questions to ask your loan officer. Grasping...
Eco-Friendly Home Improvements that Add Value to Your Home Article
If you're looking to update and add value to your home while also reducing your carbon footprint, implementing environmentally friendly practices is the way to go. By making eco-friendly home improvements, you not only contribute to a sustainable...
New Change to Mortgage Fee Structure Article
The Loan Level Price Adjustment (LLPA) fee structure has been updated recently and is now in effect for all loans purchases on or after May 1, 2023. You may have heard about it in the news. What is a Loan Level Price Adjustment? According...
CFPB Finalizes Rule to Remove Medical Bills from Credit Reports Article
The Consumer Financial Protection Bureau (CFPB) just delivered a major win for consumers struggling with medical debt. A new rule finalized by the CFPB will completely remove unpaid medical bills from credit reports. This means lenders will no longer...
VA Loan Myths: Fact vs Fiction Article
The VA Home Loan helps military families achieve the dream of homeownership and is considered one of the strongest VA benefits available. Unfortunately, there are a lot of rumors or misconceptions that may be stopping military members and their famil...
How Accurate are Mortgage Calculators? Article
Buying a home is a significant financial decision, and accurately estimating mortgage payments is crucial to ensuring affordability and financial stability. Mortgage calculators have become an essential tool in this process, offering a quick and conv...
Why More Homebuyers Are Using Co-Signers Article
For many aspiring homeowners, buying a home today looks different than it did a decade ago. Rising home prices, higher mortgage rates, student loan debt, and increased living expenses have made it more challenging for some borrowers to qualify for a ...
Key Signs You're Ready to Buy a Home Article
Buying a home isn't just a financial decision; it's a life-changing milestone. But how do you know when you're truly ready to take the plunge? This guide will walk you through the key indicators that signal it's time to make homeowner...
The 5 C's of Credit Article
Have you ever heard of the 5 C’s of credit? They are Character, Capacity, Capital, Collateral and Conditions. Your lender uses these to help determine your creditworthiness when applying for a loan, and assess the level of risk associate...
Unlock Big Savings in Your First Year of Homeownership with KickSTART Article
What if you could significantly reduce your mortgage payments during your first year of homeownership? Discover how our KickSTART program makes it possible.Here's the simple, powerful idea: With the KickSTART 1-0 lender paid buydown program, your...
The Importance of a Mortgage Underwriter Article
Embarking on the journey of buying a home is an exciting prospect that involves connecting with various professionals. Among them, the underwriter plays a pivotal, albeit often behind-the-scenes, role. So, who are these individuals, and why...
Veterans Day: Top Discounts and Offers to Honor Those Who Serve Article
a { text-decoration: none; color: #464feb; } tr th, tr td { border: 1px solid #e6e6e6; } tr th { background-color: #f5f5f5; } Veterans Day is a time to honor and thank those who have served our country, and many businesses...
9 Ways to Save for a Down Payment Article
For many, saving enough for a down payment is the hardest obstacle to overcome while trying to achieve the dream of homeownership. But with a few clever tricks and some dedication, you’ll be on the path towards homeownership.If you’re aim...
Alabama Housing Finance Authority: Guide to AHFA First Step & Step Up Programs Article
Whether you’re looking for a quiet spot near the Gulf, a front porch in the Magic City, or a home near the tech hub of the Rocket City, there is one thing every Alabamian values: community.At TowneBank Mortgage, we believe that homeownersh...