Our mortgage services provide tailored loan options to fit your financial goals. Benefit from competitive rates and flexible terms. Contact us for personalized advice and guidance. Book a consultation today to get started.
Our mortgage services are designed to offer a wide range of financing options that align with your individual needs. Whether you are a first-time homebuyer, looking to upgrade, or seeking an investment property, our experienced brokers will help you navigate the complexities of mortgage products, interest rates, and terms. We take the time to understand your financial situation and future goals, ensuring that you receive personalized advice and the best possible mortgage solution. With Cahaba Hills Mortgage, you gain a partner committed to making your home financing journey smooth, transparent, and successful.
FAQs
What is a mortgage?
A mortgage is a loan used to purchase a home, where the property serves as collateral until the loan is paid off.
What is the difference between a fixed-rate and an adjustable-rate mortgage?
A fixed-rate mortgage has the same interest rate throughout the loan term, while an adjustable-rate mortgage (ARM) starts with a fixed rate and adjusts periodically based on the market.
How much do I need for a down payment?
The typical down payment ranges from 3% to 20% of the home’s purchase price, depending on the loan type and lender requirements.
How long does the mortgage approval process take?
The mortgage approval process typically takes 30-45 days but can vary based on factors like the complexity of the loan and the responsiveness of all parties involved.
What are closing costs?
Closing costs are fees paid at the end of the home-buying process and include expenses such as appraisal fees, title insurance, and attorney fees. They typically range from 2% to 5% of the loan amount.
What documents are required for a mortgage application?
You’ll need to provide documents such as pay stubs, tax returns, bank statements, identification, and credit history for the mortgage application.
What is an escrow account?
An escrow account is set up by the lender to hold funds for property taxes and homeowner’s insurance, which are paid on your behalf when due.
What credit score do I need to qualify for a mortgage?
Most lenders require a credit score of at least 620, but certain loan programs, like FHA loans, may allow for lower scores.
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