Loan Options

Have questions on which loan option is best suited to fit your needs?
The Snider Mortgage Team has your answers!
 
You can call a Loan Officer at 256-734-6012 anytime, Monday - Friday from 8:00 AM - 5:00 PM (CST)
 
You can also Apply Online anytime, 24 hours a day, 7 days a week and someone from Brandon's team will contact you as soon as possible.
Conventional Loans

Conventional loans are backed by either Fannie Mae or Freddie Mac.  More than half of all new mortgage loans are conventional loans. 

 

These are offered in many different variations: fixed rate vs. adjustable rates; 30 year term down to 10 year terms . 20% or more down vs. as little as 3% down.   Read More...

FHA Loans

An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).

 

FHA loan programs are particularly beneficial to those buyers with less available cash. The rates on FHA loans are generally market rates, while down payment requirements are as low as 3.5%. Read More...

VA Loans

VA Loans are made to eligible veterans and can be used to purchase a new home or refinance an existing home. ​

 

VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home.  Read More...

USDA Loans

USDA loans, also known as Rural Development loans, are insured by the U.S. Department of Agriculture and the program's biggest feature is its option for "no money down" financing. Via the USDA, you can finance 100% of a home's purchase price while getting access to today's low interest rates.  Read More...

 

Renovation Loans

The FHA 203k renovation loan program provides funds for both the purchase and renovation of a home packaged into one mortgage loan. Once the purchase of the home is closed, renovation funds are held in escrow to pay for pre-determined renovation work done by approved renovation contractors.  Read More...

Housing Authority Loan

Alabama Housing Finance Authority's (AHFA) Step Up loan is a homeownership program designed specifically for moderate-income home buyers who can afford a mortgage, but need help with the down payment. The down payment funds are secured by a 10-year second mortgage and are combined with a 30-year, fixed-rate first mortgage.  Read More...

Jumbo Loans

A jumbo loan is one way to buy a high-priced or luxury home. If you have a lower debt-to-income ratio, a higher credit score, and a larger down payment, a jumbo loan may be right for you. The limit on conforming loans is $417,000 in most areas of the country, but jumbomortgages can exceed these limits.  Read More...

Reverse Mortgage

A reverse mortgage, or home equity conversion mortgage (HECM) is a special type of home loan for older homeowners (62 or older) that requires no monthly mortgage payments.

 

Reverse mortgages are insured by FHA and allows homebuyers to convert part of their equity in to tax-free cash, OR they can be used to purchase a home and still have no monthly payment.  Read More...

Specialty Loans

Sometimes your situation just doesn't fit into the box that's imposed by most lenders. You may have great credit, but you're self-employed and your income is tough to prove. Maybe you have lower scores, a recent bankruptcy, or foreclosure and still want a new mortgage. If you've heard "no" elsewhere, give us a chance to re-evaluate your situation.

Begin your home loan process today! Our mortgage advisors are standing by. 
Request a free personalized rate quote.

Cullman Office
116 2nd Street SE
Cullman, AL 35055

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NMLS# 1220361

(256) 734-6012

© 2019 by Brandon Snider