Chuck Binzel

Mortgage Products that Get Buyers Moving (pun intended)...Birmingham, Alabama

There are many different mortgage products out there to choose from but, only a few that get buyers excited and moving. Those buyers that are not quite ready to pull the trigger for one reason or another or, are anxious about the financing process or, are trying to save up for the down payment, might take action sooner if they were made aware of the different mortgage products that require very little out-of-pocket to move in.

There is, for the time being, still a Zero Down Mortgage product available through the USDA Rural Development Program. This program is designed to help low to moderate income buyers purchase homes without having to come up with large down payments. The income limitations can be as high as $71,000. The property must meet eligibility requirements but there are many desirable areas that qualify. There is Zero Down payment required and the rates are very favorable.

Buyers living in the state of Alabama have access to the AHFA's (Alabama Housing Finance Authority) Step UP program. The Step Up program is designed for moderate income buyers that need down payment assistance. The out-of-pocket expense is only 1/2% ($1,000. for a $200,000. house) and the is no limit on sales price and it does not limit you to geographical areas as the USDA program does.

The bottom line is that there are products out there that make it easy to get into a home and not all buyers are aware of these products. If you or your client are thinking about buying a home and want to know more about these or other Mortgage Products in Birmingham, Alabama, give me a call and I will help sift through the options and help get you in that house.

Zero Down Home Loans in Birmingham, AL still available...for now

As the title suggests, Zero Down Home Loans in Birmingham, AL are still available...for now. It is rumored that the ever popular USDA Mortgage program is in jeopardy of running out of funds in the latter part of April. This program has been very successful and because of its popularity, the funds set aside by the USDA are running low. The USDA (United States Department of Agriculture) program for Rural Development has been a key factor for helping home owners obtain a Zero Down Home Loan in Birmingham AL.

Zero Down Home Loans in Birmingham, AL are slowly becoming a thing of the past due to the sub-prime market melt down. However, the USDA Rural Development program offers 100% financing (no money down) and also requires no mortgage insurance. Seller concessions are not limited and borrowers can be gifted the money for closing costs. The credit requirements are modest as a 620 score can qualify.

There are two programs within the USDA Rural Development agenda. The Direct program and the Guaranteed program both offer the same benefits but the income requirements are different. The Direct program is for low income borrowers and the Guaranteed program is for moderate income borrowers. It is the Guaranteed program that is running low on funds. Currently, the national office is petitioning Congress about re-appropriating funds from the Direct program to the Guaranteed program. There is no word yet if their efforts have been successful. Some lenders have already stopped accepting USDA loan applications.

HomeTown Mortgage is one of the Southeast's largest non-institutional lenders and the USDA loan program is very popular. If you or your client is looking for a Zero Down Home Loans in Birmingham, AL, we are currently still accepting applications for the USDA loan but it is unclear how much longer the funds will last. We are informing our clients that these funds may not be available in the very near future and to best serve them we are qualifying them on backup programs such as the AHFA (Alabama Housing Finance Authority) Step-up program.

Give me a call today and let's see what your options are!

HomeTown Mortgage, A Mortgage Company in Birmingham, Alabama

Happy New Year everyone! Yea, I know, it is the second week in January already. I am still excited about the new year and a fresh start to what I know will be a great year. I know it will be a great year because I work for HomeTown Mortgage, A Mortgage Company in Birmingham, Alabama.

I am a mortgage banker in the Birmingham area. My success in business is a direct result of the relationships that I have developed and the referrals that come from those relationships. Although I work for HomeTown Mortgage, A Mortgage Company in Birmingham, Alabama, it is my face, my personality, my voice, and my knowledge that people see and hear and know. It is me that ultimately determines whether or not someone wants to do business with me. The fact that I am not necessarily selling my company or my company's services, but rather, I am selling myself, is true

People want to do business with people they trust and feel comfortable with on a personal level. All of this is fine and well. However, it is the company I represent that ultimately determines the success of the business transaction. I can be honest, diligent, thorough, and knowledgeable all at the same time, but if the company that stands behind me cannot deliver, what good is it.

My previous position as Financial Specialist for a large national bank allowed me to develop very meaningful relationships with many clients and associates. However, the bank was solid. They had a long history of performing well in their markets and the products they offered were quite sound. I was a success because the company I represented was successful.

When I made the decision to focus my attention on the mortgage side of banking, I made sure that the company I chose had the same qualities that allowed me to be a successful banker. HomeTown Mortgage, A Mortgage Company in Birmingham, Alabama, had all the tools necessary to do just that. HomeTown Mortgage has been in business for eleven years and has grown to be one of the largest non-institutional lenders in the southeast.

We have all the major products; FHA, VA, Conforming, Jumbo, and Rural Housing just to name a few. The most popular is the USDA Rural Housing program where buyers can still get a Zero-Down home mortgage loan with no PMI. At HomeTown, we underwrite, process, and even close loans right here in our HWY 280 office. We are an industry leader. Ask anyone who has had the opportunity to work with us. Ask your Realtor.

If you need a Realtor, I highly recommend Toni Bird. She is an expert in the Birmingham market. Toni has been a Realtor for close to twelve years and has closed over two hundred transactions. Follow Toni's blog for helpful information about the Real Estate market in Birmingham. If you are looking for a smooth and positive home buying experience, let Toni help you find the perfect home, then give me a call at HomeTown Mortgage.

At HomeTown, we deliver results and we deliver on time. We are definitely one of the calls you need to make when it is time to find A Mortgage Company in Birmingham, Alabama.

The Rule of Five for 2010

Happy New Year everyone!

Today is the first Monday of 2010 and I thought I would share a valuable rule my Pastor shared with us this past Sunday. The Rule of Five is what I plan to use to insure my success this year and is applicable to any profession.

The beginning of each year is a time to look ahead and determine what it is that you will do to make this year better than the last. Will you do more of the same? Will you do things differently? The Rule of Five will help you move forward towards your goal no matter what your goal is. Here it is in a nutshell.

1. Find your Five - (Proverbs 17:24 GN) "An intelligent person aims at wise action, but a fool starts off in many directions."

- Pick 5 "actions" that will move you in the right direction and do them every day.

2. Prioritize your Five - (Psalms 90:1-2) "Teach us to number our days aright, that we may gain a heart of wisdom."

- Mark your calender with your Five actions. Set aside a specific time for each Mon.- Fri.

- Make sure that each action will move you a step in the right direction.

3. Enjoy your Five - (Hebrews 12:1-2) "Therefore, since we are surrounded by such a great cloud of witnesses, let us throw off everything that hinders and the sin that so easily entangles, and let us run with perseverance the race marked out for us. Let us fix our eyes on Jesus, the author and perfecter of our faith, who for the joy set before him endured the cross, scorning its shame, and sat down at the right hand of the throne of God."

- Keep your eyes on your prize. It is "joy set before" you that will help you to endure the path and keep you on track.

4. Fight for your Five - (Hebrews 12:11) "No discipline seems pleasant at the time, but painful. Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it."

- Do not let anything interfere with your Five.

- Make up your mind that your success depends on preforming your Five actions and don't let "life" get in the way.

5. Evaluate your Five - (Philippians 3: 13-14) "Brothers, I do not consider myself yet to have taken hold of it. But one thing I do: Forgetting what is behind and straining toward what is ahead, I press on toward the goal to win the prize for which God has called me heavenward in Christ Jesus."

- Take Five minutes a day to evaluate your Five.

- Tweak you Five

Summary

Find five things that will help you accomplish your goals, set aside the time necessary to do these five actions, keep focused on the goal so it is a joy to do your five, don't let anything stop you from doing your five, and take time each day or each week to determine if you need to replace one of your five actions with one that will be more productive. Remember the key is: Do something (even if it is a little bit) every day.

I pray that 2010 will be the year you reach your goal!