We are a coastal Lender Specializing in Condo Financing for both Second Homes and Investment properties. We have a firm understanding of the individual condo buildings and the details that go along with financing these properties with Agency products.
For those unique properties and borrowers; we have a wide array of portfolio products. Low down Payment Jumbo Options, Investment, Short Term Rental Buildings, Self Employed Borrowers, and many other niche products.
Many of the features of Section 234(c) mortgage insurance are similar to those of FHA Section 203(b) for one to four-family homes. Down payment requirements are low because these FHA loans allow borrowers to finance up to 96.5 percent of their home loan and some of the closing costs can also be financed, further reducing up front costs.
If you are coming from another part of the country, don’t make the mistake of using a lender thousands of miles from the Gulf Coast. localbanksouthalabama.com has offices in Orange Beach, Mobile, Gulf Shores, Daphne, and Fairhope.
Contact us today at (251) 301-8518 to get started or start an application today.
