{"id":5316,"date":"2024-01-12T07:40:55","date_gmt":"2024-01-12T12:40:55","guid":{"rendered":"https:\/\/fhalenders.com\/?page_id=5316"},"modified":"2024-01-12T07:40:55","modified_gmt":"2024-01-12T12:40:55","slug":"south-dakota-fha-lenders-2","status":"publish","type":"page","link":"https:\/\/fhalenders.com\/south-dakota-fha-lenders-2\/","title":{"rendered":"south dakota fha lenders"},"content":{"rendered":"

\"alabama

Alabama FHA Loans –\u00a0 Alabama FHA Lenders<\/strong><\/span><\/h2>\n

Alabama is a wonderful state to live in with such diversity in people and landscape. There are miles of beautiful beaches along the Gulf of Mexico and also mountains to visit if you want to escape to a cooler climate. The people are inviting and you will really enjoy the southern hospitality from your welcoming neighbors as a new homeowner.<\/span><\/p>\n

Alabama Housing and Living Statistics<\/strong><\/span><\/h3>\n\n\n\n\n\n\n\n\n
Population<\/span><\/strong><\/span><\/td>\n4.9 Million<\/span><\/strong><\/span><\/td>\n<\/tr>\n
Median Age<\/span><\/strong><\/td>\n39.3<\/span><\/strong><\/td>\n<\/tr>\n
Median Household Income<\/span><\/strong><\/td>\n$49,861<\/span><\/strong><\/td>\n<\/tr>\n
Median Property Value<\/span><\/strong><\/td>\n$147,900<\/span><\/strong><\/td>\n<\/tr>\n
Number of Employees<\/span><\/strong><\/td>\n2 Million<\/span><\/strong><\/td>\n<\/tr>\n
Average Commute Time<\/span><\/strong><\/td>\n24.3 minutes<\/span><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Alabama home buyers who need a small down payment or have poor credit scores may be able to purchase a home with an Alabama FHA loan. There are many FHA lenders in Alabama who offer FHA loans for people with credit scores as low as 500.<\/span><\/p>\n

We will take you through the Alabama FHA loan requirements, detail what is needed to qualify, then help you to get pre-qualified. If you already know that an FHA loan is right for you, then click to connect with an Alabama FHA lender whether you live in Birmingham, Huntsville, Mobile, Montgomery, or anywhere else.<\/span><\/p>\n

Alabama FHA Down Payment Requirements<\/strong><\/span><\/h3>\n

The down payment requirements for an FHA loan is the same in every state. The minimum requirement for an FHA loan is 3.5% of the purchase price. However, if your credit score is below 580, then the down payment requirement will be 10%.<\/span><\/p>\n

If you do not have the down payment needed, you can also use gift funds from a relative<\/strong><\/span><\/a>.<\/span><\/p>\n

Alabama FHA Down Payment Assistance <\/strong><\/span><\/h3>\n

There are various down payment assistance programs in every state. Below is a list of just a few down payment assistance programs that may be available to you in Alabama. Home buyers will need to contact, and arrange for these programs independently. Lenders will accept the funds from these programs for your down payment but they will not arrange for down payment assistance<\/span><\/a><\/strong>.<\/span><\/p>\n

Alabama Step Up Program<\/a><\/p>\n

Mobile County Down Payment Assistance<\/a><\/p>\n

Alabama FHA Loan Requirements for 2024<\/strong><\/span><\/h2>\n

These are the basic FHA loan requirements for this year. All of these must be met to be approved for an FHA loan. If you are not positive on whether you meet these standards or have questions, an FHA lender can help.<\/span><\/p>\n