FHA Mortgage Loans

Do you have questions about an FHA Loan, FHA Mortage Insurance or FHA Loan Requirements.


Call Today 205-486-6206 >

FHA Mortgage Loans


Typically an FHA loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and you can have less-than-perfect credit. For FHA loans, down payment of 3.5 percent is required for maximum financing. Borrowers with credit scores as low as 620 can qualify for an FHA loan.

Another advantage of an FHA loan is that it can be assumable, which means if you want to sell your home, the buyer can “assume” the loan you have. People who have low or bad credit, have undergone a bankruptcy or have been foreclosed upon may be able to still qualify for an FHA loan.


 

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Mortgage Calculators

Mortgage Loan Calculator Use this calculator to determine your monthly payment and amortization schedule.
Mortgage Qualifier Can you buy your dream home? Find out just how much you can afford!
Refinance Breakeven Should you refinance your mortgage? Use this calculator to determine when you will breakeven!
Rent vs. Buy Are you better off buying your home, or should you continue to rent?


Have you found the home of your dreams? Send your questions in the email form below or stop by in person to start the process today.

Types of Mortgages:



FHA Mortgage Loans

Typically an FHA loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and you can have less-than-perfect credit.


VA Mortgage Loans

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military.



Re-Finance Your Home

Whether you're looking to lower your interest rate, reduce your monthly payments or interest expense, switch from an adjustable to a fixed rate, consolidate bills, or obtain extra money to pay for expenses, a mortgage refinance could be the solution for you.

Download an Application Here


Traders & Farmers Bank Mortgage Department

Everything You Need Under One Roof

1728 11th Avenue
Haleyville, AL 35565

Phone: 205-486-6206
fax: 205-486-6209

Standard Mortgage Documents Needed to Begin Mortgage Process:
  • Completed Application
  • Copy of Drivers License
  • 2 Years Most Recent Tax Returns with W2's or 1099's
  • 2 Most Recent Pay Stubs
  • 2 Most Recent Bank Statements
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