Buy a House Renting a Home is Too Expensive

Buy a House Renting a Home is Too Expensive

Buy a House Renting a Home is Too Expensive

While home values are rising quickly, the demand for homes is also raising rent prices through the roof and really putting a squeeze on renters.  Rents are rising across the board, and the real takeaway is that renting a home is too expensive for what you are getting – for a similar price you can buy a house.

 

Rent, of course, gives you nothing but a roof over your head.  You build no value or wealth, and own nothing at the end of the day.  As renters pay more and more for their homes, the value that they get for their dollar decreases quickly from there, and eventually stops being worth it.

 

However, saving for a down payment can be difficult as well. 

 

Luckily, the 20% down payment for a conventional loan is no longer the only entry point for home purchases.  There are multiple loan programs for people who need to put a smaller amount down.

 

FHA Loans are available to everyone and only require a 3.5% down payment.  This loan is ideal for low-income borrowers and first-time homebuyers, who may not have the ability to put together a large down payment.

 

VA Loans, like the Hero.Loan program, are a way for veterans to buy a home without any down payment.  It’s open to veterans, active servicemembers, and their families, and it’s the best loan that they can have.

 

The USDA Loan is another program that can give borrowers in rural areas a low down payment loan.

 

With rental home supply low, many investors are jumping into the market and buying up the available homes, pushing rental prices higher and higher, and making homes more expensive.

 

This isn’t a problem that’s going away any time soon, with home inventory still slow to develop in many communities.  It’s a great time to buy because rates are at historic levels, but you have to work to get the home that you want. 

 

Get pre-approved for your mortgage today by the best mortgage lender in Alabama, Mike Carey’s Alabama Loan Experts Team in Gulf Shores (901) 619-3665 or visit AlabamaLoanExperts.com to apply now. Alabama Loan Experts has the lowest rates on Conventional, FHA, Mortgage Refinances, Jumbo Loans, Debt Consolidation Loans, Rate and Term Refinances, Cash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages and The Bank Statement Mortgage. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Alabama Loan Experts.

Mike Carey

Mike Carey

As a mortgage professional with over twenty years experience, I understand the lending guidelines and keep up with the constant change in the industry. In my 20+ years of mortgage lending, I have helped thousands of buyers throughout the country. My specialties include all areas of lending from first time home buyers to seasoned buyers.

  • Close your loan in as little as 14-days
  • Day 1 Certainty simplifies the process
  • Customer service no one can match

How Can We Help You?

Alabama Mortgage Lender

Best Mortgage Rate Alabama









Alabama Home Loans & Mortgages

Best Home Mortgage Options For Ideal Borrower Situations

Pay Off High Interest Debt and Cash-out Equity In Your Home

Flexible Home Mortgage Guidelines With Attractive Rates

Refinance Your Current Home Mortgage Without An Appraisal

Higher-Dollar Home Loans From A Trusted Mortgage Lender

No Down Payment VA Home Loan For Military Veterans & Active Duty

Home Mortgage For Business Owners & Self-Employed

Get a 5-min Home Loan Approval & Close Your Mortgage in 14-days!

The Mike Carey Team – Offices Located in Foley and Orange Beach

316 McKenzie St., Suite 118
Foley, Alabama 36535

27250 Perdido Beach Blvd. #F3
Orange Beach, Alabama 36561

How Do You Get the Lowest Mortgage Rate

How Do You Get the Lowest Mortgage Rate

How Do You Get the Lowest Mortgage Rate

When buying a home, one of the most vital problems to solve is “how do you get the lowest mortgage rate?”  Since this is the largest debt you are ever likely to accrue, paying the smallest amount of interest on the loan is vital to your long-term financial health.  Building wealth today starts with home ownership. 

 

Mortgage rates don’t just get picked out of the air.  They are determined by a number of factors, with your credit score as the bedrock of the number.  Everything else in your mortgage rate flows from your credit score.  If it’s too low, you will pay higher rates, or be unable to get a mortgage on your home.

 

Here are some tips on how to improve your credit score before you apply to increase your chances of getting the best mortgage rate.

 

  1. Check Your Score

 

Your FICO score, the most commonly used credit score, is how you qualify for loans.  The number is calculated through a number of factors that you can work on improving.  The basic breakdown is:

  • payment history (35%)
  • money owed (30%)
  • length of credit history (15%)
  • types of credit in use (10%)
  • new credit (10%)

 

Your credit score will generally range anywhere from 400 to 800, and if you want to get the lowest possible rate, you need a score in the 700’s.  You need to keep credit card balances low, and not have high debts in other areas. 

 

Don’t miss payments either.  Every payment that you miss is a slash to your credit score.  Make your history of payments look great, and your score will improve.  You also need to check to make sure that your credit reports are correct.  These companies do make errors, and they can hurt you badly if they are not fixed.  Experian, TransUnion and Equifax are the major credit reporting agencies.  Check them for errors before you ever apply for a mortgage and fix those errors.

 

  1. Get Rid Of Your Debt

 

As much as you can, get rid of outstanding debt.  Your Debt-To-Income Ratio or DTI should be below 43%.  DTI is defined as the ratio of money that you make, against the money that you owe.  Available credit is calculated into this number.  You basically want to be able to show that you make more money than you owe in bills each month.  If your obligations exceed 43% of your income, that’s when you turn into a bad risk for lenders and may be seen as risky to pay off your loan.

 

When you’re ready to buy (hopefully soon, with these rates!) call the best mortgage lender in Alabama, Mike Carey’s Alabama Loan Experts Team in Gulf Shores (901) 619-3665 or visit AlabamaLoanExperts.com to apply now. Alabama Loan Experts has the lowest rates on Conventional, FHA, Mortgage Refinances, Jumbo Loans, Debt Consolidation Loans, Rate and Term Refinances, Cash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages and The Bank Statement Mortgage. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Alabama Loan Experts.

Mike Carey

Mike Carey

As a mortgage professional with over twenty years experience, I understand the lending guidelines and keep up with the constant change in the industry. In my 20+ years of mortgage lending, I have helped thousands of buyers throughout the country. My specialties include all areas of lending from first time home buyers to seasoned buyers.

  • Close your loan in as little as 14-days
  • Day 1 Certainty simplifies the process
  • Customer service no one can match

How Can We Help You?

Alabama Mortgage Lender

Best Mortgage Rate Alabama









Alabama Home Loans & Mortgages

Best Home Mortgage Options For Ideal Borrower Situations

Pay Off High Interest Debt and Cash-out Equity In Your Home

Flexible Home Mortgage Guidelines With Attractive Rates

Refinance Your Current Home Mortgage Without An Appraisal

Higher-Dollar Home Loans From A Trusted Mortgage Lender

No Down Payment VA Home Loan For Military Veterans & Active Duty

Home Mortgage For Business Owners & Self-Employed

Get a 5-min Home Loan Approval & Close Your Mortgage in 14-days!

The Mike Carey Team – Offices Located in Foley and Orange Beach

316 McKenzie St., Suite 118
Foley, Alabama 36535

27250 Perdido Beach Blvd. #F3
Orange Beach, Alabama 36561

Why Now Is a Great Time to Buy a Home

Why Now Is a Great Time to Buy a Home

Why Now Is a Great Time to Buy a Home

Even though owning your own home has long been considered a major part of the American dream, only 64% of American are currently homeowners.  That means a lot of you are still renting, saving, and hoping to buy a home soon. 

 

Well, now is a great time to buy a home because interest rates are at or near all-time lows. 

 

While everyone knows that you can get a conventional mortgage with 20 percent down, not everyone knows that there are a variety of other programs that can help people buy that home if they aren’t able to save 20 percent of the cost of the home.  With rent increasing and wages not growing with inflation, that can be an unreachable number for some families to get to.

 

An FHA loan will get you into a home with only a 3.5% down payment.  You will have to pay PMI, or private mortgage insurance.  However, it removes a substantial barrier to entry for people who aren’t able to put away that kind of money.

 

If you’re eligible, a VA loan is the best loan you can get, and right now it’s even better.  Lower rates are still lower rates, and you can get 100% financing on a VA Loan on your home.  Our Hero.Loan program enhances this with 14 day closings and we pay for your appraisals.

 

With interest rates so low, you really can buy more home than you think.  It gives you lots of options on how to buy.  If you want a lower payment, you can get a lower payment.  If you want to limit the term to 15 years, you can.  Buying a house that you thought was out of your price range is feasible now because you can get that lower interest rate and have a lower payment.

 

For a lot of reasons, this is one of the best times in recent history to buy a home.  Rates are low, meaning that you can get more house for less money, or you may be able to buy a house when you didn’t think that you could.

 

Call the best mortgage lender in Alabama, Mike Carey’s Alabama Loan Experts Team in Gulf Shores (901) 619-3665 or visit AlabamaLoanExperts.com to apply now. Alabama Loan Experts has the lowest rates on Conventional, FHA, Mortgage Refinances, Jumbo Loans, Debt Consolidation Loans, Rate and Term Refinances, Cash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages and The Bank Statement Mortgage. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Alabama Loan Experts.

Mike Carey

Mike Carey

As a mortgage professional with over twenty years experience, I understand the lending guidelines and keep up with the constant change in the industry. In my 20+ years of mortgage lending, I have helped thousands of buyers throughout the country. My specialties include all areas of lending from first time home buyers to seasoned buyers.

  • Close your loan in as little as 14-days
  • Day 1 Certainty simplifies the process
  • Customer service no one can match

How Can We Help You?

Alabama Mortgage Lender

Best Mortgage Rate Alabama









Alabama Home Loans & Mortgages

Best Home Mortgage Options For Ideal Borrower Situations

Pay Off High Interest Debt and Cash-out Equity In Your Home

Flexible Home Mortgage Guidelines With Attractive Rates

Refinance Your Current Home Mortgage Without An Appraisal

Higher-Dollar Home Loans From A Trusted Mortgage Lender

No Down Payment VA Home Loan For Military Veterans & Active Duty

Home Mortgage For Business Owners & Self-Employed

Get a 5-min Home Loan Approval & Close Your Mortgage in 14-days!

The Mike Carey Team – Offices Located in Foley and Orange Beach

316 McKenzie St., Suite 118
Foley, Alabama 36535

27250 Perdido Beach Blvd. #F3
Orange Beach, Alabama 36561

Will Mortgage Rates Be Affected By the Fed’s Rate Drop

Will Mortgage Rates Be Affected By the Fed’s Rate Drop

Will Mortgage Rates Be Affected By the Fed’s Rate Drop

The big news Wednesday was the Federal Reserve decreasing the cost of borrowing money, by cutting the benchmark interest rate by one quarter of a percentage point, to 1.75%.  This can have a large impact on interest rates going forward, but the benchmark rate and mortgage interest rates don’t necessarily go hand in hand. 

Your main borrowers affected by this news are going to be borrowers with an ARM, or adjustable-rate mortgage, and even so, it will not be a large change.  The best explanation of this is that the fed rate and mortgage rates are not directly linked.

 

The Fed rate is used for short-term borrowing, and the mortgage rate is a long-term proposition, typically 15 or 30 years.  Long term mortgage rates generally rise at the same levels as 10-year treasury bonds, although these two are not actually linked, either.

 

10-year treasury bonds and mortgage rates usually rise in tandem because they are the same type of loan – a stable, long-term investment that is attractive for stable, long-term investors.  They aren’t tied in any way other than the fact that they compete for the same dollars, but they are reliable indicators of each other’s growth and decline.

 

Your mortgage rate won’t likely drop because of this change to the fed’s benchmark rate, unfortunately.  It’s not a large enough drop and doesn’t move the markets.  In fact, most markets had anticipated this drop and prepared for it, writing at least a quarter point drop into their projections. 

 

This is illustrated by the interest rate not changing a point Thursday, despite the news.  When the markets can prepare for news, the news doesn’t move the market.

 

While some homeowners that have ARMs may see a slight decrease depending on when they are scheduled to reset, it doesn’t change the fact that mortgage rates for fixed rate mortgages have held steady at historic low levels.  The rates for 15-and-30-year mortgages are hovering in the mid-3% level, as opposed to 4.6% a year ago. 

 

This percentage point difference is a massive incentive for both new homebuyers and current homeowners who want to refinance.  That savings on a $200,000 mortgage can give you an extra $125 to $150 back in your pocket every month in a refinance and save you as much on a new home purchase.

 

This is a historically great time to purchase a home or refinance one.  You will save money if you can refinance your home right now.  You can afford to buy a bigger home right now.  A cash-out refinance right now can rid you of your credit card bills, put money in your pocket, and fund home repairs and improvements.  The sky is the limit and you have many choices about how to handle a lower interest rate like you have today.  We just want to help you make the right one.

 

Call the best mortgage lender in Alabama, Mike Carey’s Alabama Loan Experts Team in Gulf Shores (901) 619-3665 or visit AlabamaLoanExperts.com to apply now. Alabama Loan Experts has the lowest rates on Conventional, FHA, Mortgage Refinances, Jumbo Loans, Debt Consolidation Loans, Rate and Term Refinances, Cash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages and The Bank Statement Mortgage. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Alabama Loan Experts.

Mike Carey

Mike Carey

As a mortgage professional with over twenty years experience, I understand the lending guidelines and keep up with the constant change in the industry. In my 20+ years of mortgage lending, I have helped thousands of buyers throughout the country. My specialties include all areas of lending from first time home buyers to seasoned buyers.

  • Close your loan in as little as 14-days
  • Day 1 Certainty simplifies the process
  • Customer service no one can match

How Can We Help You?

Alabama Mortgage Lender

Best Mortgage Rate Alabama









Alabama Home Loans & Mortgages

Best Home Mortgage Options For Ideal Borrower Situations

Pay Off High Interest Debt and Cash-out Equity In Your Home

Flexible Home Mortgage Guidelines With Attractive Rates

Refinance Your Current Home Mortgage Without An Appraisal

Higher-Dollar Home Loans From A Trusted Mortgage Lender

No Down Payment VA Home Loan For Military Veterans & Active Duty

Home Mortgage For Business Owners & Self-Employed

Get a 5-min Home Loan Approval & Close Your Mortgage in 14-days!

The Mike Carey Team – Offices Located in Foley and Orange Beach

316 McKenzie St., Suite 118
Foley, Alabama 36535

27250 Perdido Beach Blvd. #F3
Orange Beach, Alabama 36561

VA Loan Facts From Hero.Loan

The VA Loan program is the best mortgage available for veterans, active servicemembers and their families.  They have great features and offer more advantages than almost any type of loan.  It’s a great thank you for military service.  No matter what any lender tells you, the VA Loan is always going to be the best loan you can get if you are eligible, and here are some reasons why.

 

No down payment

The show-stopper.  Buying a home up to $417,000 with no down payment is an enormous advantage over conventional and FHA loans that require anywhere from 3.5% to 20% down payments.  This is a huge benefit to buying a home and has led many people who never thought they would be able to buy a home to move into their dream home. 

Do the math.  If you wanted to buy a $200,000 home with a conventional mortgage, you’re looking at a $40,000 down payment to get to 20%.  Anything less than that and you’re paying PMI, or Private Mortgage Insurance.  An FHA Loan requiring 3.5% down is still $7,000 on that house.  Saving up that much cash is hard for anyone, and making the process easier for people who are in and out of the country makes so much sense.

This benefit really helps veterans get into their home without having to scratch and claw to save up that giant down payment.

 

Government guaranty

The federal government isn’t ACTUALLY in the habit of giving out mortgages – that’s our job.  What the VA Loan program does is guarantee the mortgage to private VA-approved mortgage companies and banks like us.  This is a promise on the part of the VA to repay the loan if the borrower defaults.  It helps the lender have more confidence in lending the money and allows them to give credit without the down payment that normally mitigates the risk.

This opens the program up to more and more borrowers that may never have had the opportunity to own a home. 

 

No private mortgage insurance

Remember when we mentioned PMI?  That doesn’t come with a VA Loan the same way it would with any other loan where you have less than 20% equity.  If you have an FHA or Conventional Loan plan that required less than a 20% down payment, you are going to be on the hook for that PMI payment every month to guarantee the loan. 

VA Loans don’t require this for anything, even 100% financing.  According to the VA, this has saved vets billions of dollars over the course of their loans.

 

It’s not a one-time benefit

Many veterans have been misled that this is a one-time benefit.  It’s not.  Once you are VA-eligible, you are for life.  You don’t have to completely repay your loan to use the VA Loan again, but it does depend on how much of your VA entitlement is still available to you.

 

No appraisal fee

Hero.Loan also has its own benefits.  You will never pay for an appraisal fee with Hero.Loan, and it’s not rolled into the price of your loan either.  We actually pay that out of our own pocket as a thank you for your service.

 

14 Day Closings

Since we are VA delegated, we are able to close VA Loans in as little as 14 days.  Most lenders will tell you that VA Loans are hard to close or can take up to 90 days.  That’s because they have to go through other approvals, while we make our own credit decisions and can speed through the process to make sure that you get your home.

 

Call the best mortgage lender in Alabama, Mike Carey’s Alabama Loan Experts Team in Gulf Shores (901) 619-3665 or visit AlabamaLoanExperts.com to apply now. Alabama Loan Experts has the lowest rates on Conventional, FHA, Mortgage Refinances, Jumbo Loans, Debt Consolidation Loans, Rate and Term Refinances, Cash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages and The Bank Statement Mortgage. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Alabama Loan Experts.

Mike Carey

Mike Carey

As a mortgage professional with over twenty years experience, I understand the lending guidelines and keep up with the constant change in the industry. In my 20+ years of mortgage lending, I have helped thousands of buyers throughout the country. My specialties include all areas of lending from first time home buyers to seasoned buyers.

  • Close your loan in as little as 14-days
  • Day 1 Certainty simplifies the process
  • Customer service no one can match

How Can We Help You?

Alabama Mortgage Lender

Best Mortgage Rate Alabama









Alabama Home Loans & Mortgages

Best Home Mortgage Options For Ideal Borrower Situations

Pay Off High Interest Debt and Cash-out Equity In Your Home

Flexible Home Mortgage Guidelines With Attractive Rates

Refinance Your Current Home Mortgage Without An Appraisal

Higher-Dollar Home Loans From A Trusted Mortgage Lender

No Down Payment VA Home Loan For Military Veterans & Active Duty

Home Mortgage For Business Owners & Self-Employed

Get a 5-min Home Loan Approval & Close Your Mortgage in 14-days!

The Mike Carey Team – Offices Located in Foley and Orange Beach

316 McKenzie St., Suite 118
Foley, Alabama 36535

27250 Perdido Beach Blvd. #F3
Orange Beach, Alabama 36561

Refinances Slow to Close? Not With Us

Refinances Slow to Close? Not With Us

Refinances Slow to Close? Not With Us

With the massive run on mortgage refinances happening right now, many banks and mortgage companies are feeling the crunch.  Since many pundits predicted slow seasons for purchases and refinances, lots of smaller firms cut back on their staffs this year.

 

“Small and midsize U.S. mortgage firms,” said The Wall Street Journal in November, “are trimming staff, putting themselves up for sale and closing up shop at a clip not seen in years, a sign of the mounting pressure on the housing market as interest rates rise and a long economic expansion matures.”

 

The issue is that mortgage rates never really rose this year, and have continued to hover near record lows, surprising many industry analysts, with predictions off as much as 2% on mortgage interest rates.  That’s a huge number and saves you a ton of money.

 

With fewer loan officers available to help you, wait times will explode at many banks and mortgage companies if this doesn’t change. 

 

However, we didn’t panic when rates threatened to rise.  Instead of furloughs and layoffs, we doubled down and hired more staff.  We promoted from within to create new loan officers that understand the business from the top down. 

 

This has allowed us to not only keep up with the demand for refinances, but grow our team to grow and handle more volume as the year goes on.  The same volume that has sent banks scrambling lets us close a loan in as little as 14 days.

 

Our 5-Minute loan application has been a huge help there as well.  Since you can now load all of your documents online, there are fewer roadblocks to your application being approved and your mortgage being closed.

 

Call the best mortgage lender in Alabama, Mike Carey’s Alabama Loan Experts Team in Gulf Shores (901) 619-3665 or visit AlabamaLoanExperts.com to apply now. Alabama Loan Experts has the lowest rates on Conventional, FHA, Mortgage Refinances, Jumbo Loans, Debt Consolidation Loans, Rate and Term Refinances, Cash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages and The Bank Statement Mortgage. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Alabama Loan Experts.

Mike Carey

Mike Carey

As a mortgage professional with over twenty years experience, I understand the lending guidelines and keep up with the constant change in the industry. In my 20+ years of mortgage lending, I have helped thousands of buyers throughout the country. My specialties include all areas of lending from first time home buyers to seasoned buyers.

  • Close your loan in as little as 14-days
  • Day 1 Certainty simplifies the process
  • Customer service no one can match

How Can We Help You?

Alabama Mortgage Lender

Best Mortgage Rate Alabama









Alabama Home Loans & Mortgages

Best Home Mortgage Options For Ideal Borrower Situations

Pay Off High Interest Debt and Cash-out Equity In Your Home

Flexible Home Mortgage Guidelines With Attractive Rates

Refinance Your Current Home Mortgage Without An Appraisal

Higher-Dollar Home Loans From A Trusted Mortgage Lender

No Down Payment VA Home Loan For Military Veterans & Active Duty

Home Mortgage For Business Owners & Self-Employed

Get a 5-min Home Loan Approval & Close Your Mortgage in 14-days!

The Mike Carey Team – Offices Located in Foley and Orange Beach

316 McKenzie St., Suite 118
Foley, Alabama 36535

27250 Perdido Beach Blvd. #F3
Orange Beach, Alabama 36561

Tappable Equity at All-Time High Today

Tappable Equity at All-Time High Today

Tappable Equity at All-Time High Today

Home values have risen sharply and tappable equity in your home is right now at an all-time high, according to Black Knight.  There are $6.3 TRILLION dollars available in mortgage equity for homeowners to refinance their mortgage with right now.

 

The total rose by $335 billion in the last quarter.  Tappable equity is the amount of equity in the home that a homeowner can borrow against before they run into the 80% loan-to-value limit that lenders use.  This record high is more than 26% over the old peak during the housing bubble of 2006.

 

According to Black Knight’s research, the average homeowner that has tappable equity is holding onto $140,000 that they can borrow against.  Over half have interest rates nearly a point higher than what’s available today, and have great credit, with scores at or over 760.

 

Tappable equity is a great thing to have in your home.  You can use that equity for all kinds of purposes.  Cash-Out Refinances are a great way to make your high-interest credit cards go away.  You can use that equity to make improvements to your home or much needed repairs. 

 

When mortgage rates drop like they have been, it gives homeowners options that they may not have had before.  It allows home buyers to make bigger offers on houses, driving up the price.  The best part for homeowners there is that it raises the price for “comparables”.  These are houses near you that compare to your house.  This has the awesome effect of raising the value of your home by comparison, since that value is seen against the comparable homes around you.

 

All this does is give you MORE equity to work with, putting you further away from that 80% LTV mark that you want to avoid and giving you more money in a cash out refinance.

 

Whether you want to buy or refinance, low interest rates make it easier to do, and these rates look like they will stay low through the end of the year and into the first quarter of next year.  That doesn’t mean it’s time to wait though.  Lines will start forming as people see that this may be a historic opportunity to put real money in their pockets and get their loans locked.

 

You need to apply online with a strong mortgage lender that will get you locked quickly, before rates change or the market flips.  Using our 5-Minute Loan Application, you can get in the front of the line and move your loan through the queue quickly while uploading all of your documents securely and quickly.

Call the best mortgage lender in Alabama, Mike Carey’s Alabama Loan Experts Team in Gulf Shores (901) 619-3665 or visit AlabamaLoanExperts.com to apply now. Alabama Loan Experts has the lowest rates on Conventional, FHA, Mortgage Refinances, Jumbo Loans, Debt Consolidation Loans, Rate and Term Refinances, Cash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages and The Bank Statement Mortgage. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Alabama Loan Experts.

Mike Carey

Mike Carey

As a mortgage professional with over twenty years experience, I understand the lending guidelines and keep up with the constant change in the industry. In my 20+ years of mortgage lending, I have helped thousands of buyers throughout the country. My specialties include all areas of lending from first time home buyers to seasoned buyers.

  • Close your loan in as little as 14-days
  • Day 1 Certainty simplifies the process
  • Customer service no one can match

How Can We Help You?

Alabama Mortgage Lender

Best Mortgage Rate Alabama









Alabama Home Loans & Mortgages

Best Home Mortgage Options For Ideal Borrower Situations

Pay Off High Interest Debt and Cash-out Equity In Your Home

Flexible Home Mortgage Guidelines With Attractive Rates

Refinance Your Current Home Mortgage Without An Appraisal

Higher-Dollar Home Loans From A Trusted Mortgage Lender

No Down Payment VA Home Loan For Military Veterans & Active Duty

Home Mortgage For Business Owners & Self-Employed

Get a 5-min Home Loan Approval & Close Your Mortgage in 14-days!

The Mike Carey Team – Offices Located in Foley and Orange Beach

316 McKenzie St., Suite 118
Foley, Alabama 36535

27250 Perdido Beach Blvd. #F3
Orange Beach, Alabama 36561

Why Buying a Home in 2019 Is a Great Idea

Why Buying a Home in 2019 Is a Great Idea

Why Buying a Home in 2019 Is a Great Idea

You may have seen, but mortgage rates are about as low as they can get right now.  You can buy a house and save money right now over what you may have been looking at a year ago, or even a month ago.  There really haven’t been too many better opportunities for buying a home in recent memory, and you should jump on it.

 

According to Freddie Mac, the nationwide fixed rate on a 30-year loan just dropped to 3.6%, which is a full 2 percent lower than was forecast for this time.  To show you the math, that works out to saving $300 every month on a $350,000 loan with 10% down after the lower rates are calculated in.

 

“It’s a great time to buy right now, and buyers are making smart decisions getting into great loans right now,” said Ryan Kelley, CEO of The Home Loan Expert, LLC.  “You can get a lot more house for your money and use those savings to make home improvements, buy a car, pay off credit cards, there are a lot of ways to use these low rates to your advantage and start to build wealth.”

 

One important factor to consider is the start of the school year.  Traditionally, once school starts, parents are loath to move their children immediately and uproot their lives.  Home demand tends to slow at that time, making homes more affordable for buyers.

 

The bottom line is, if you are comfortable with the rate and terms of the loan, and are in a good position financially, you may not get a better market to buy a home and stop throwing money away on rent.  Most industry leaders don’t expect rates to be this low again for years.

 

It’s a great time to buy because you can start to build wealth by owning property.  With a shortage of homes, the value will continue to rise, making your investment worth more than you just paid for it.

 

You can build equity and value just by owning instead of renting, and it may not cost you much more, if any, on your monthly payments.

 

If you see this as your time to buy, make sure that you have solid income and your credit is right.  You can find out how much of a loan is available for you with our 5-Minute Pre-Approval App and start house hunting. 

 

If you’re ready to buy a home, call the best mortgage lender in Alabama, Mike Carey’s Alabama Loan Experts Team in Gulf Shores (901) 619-3665 or visit AlabamaLoanExperts.com to apply now. Alabama Loan Experts has the lowest rates on Conventional, FHA, Mortgage Refinances, Jumbo Loans, Debt Consolidation Loans, Rate and Term Refinances, Cash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages and The Bank Statement Mortgage. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Alabama Loan Experts.

Mike Carey

Mike Carey

As a mortgage professional with over twenty years experience, I understand the lending guidelines and keep up with the constant change in the industry. In my 20+ years of mortgage lending, I have helped thousands of buyers throughout the country. My specialties include all areas of lending from first time home buyers to seasoned buyers.

  • Close your loan in as little as 14-days
  • Day 1 Certainty simplifies the process
  • Customer service no one can match

How Can We Help You?

Alabama Mortgage Lender

Best Mortgage Rate Alabama









Alabama Home Loans & Mortgages

Best Home Mortgage Options For Ideal Borrower Situations

Pay Off High Interest Debt and Cash-out Equity In Your Home

Flexible Home Mortgage Guidelines With Attractive Rates

Refinance Your Current Home Mortgage Without An Appraisal

Higher-Dollar Home Loans From A Trusted Mortgage Lender

No Down Payment VA Home Loan For Military Veterans & Active Duty

Home Mortgage For Business Owners & Self-Employed

Get a 5-min Home Loan Approval & Close Your Mortgage in 14-days!

The Mike Carey Team – Offices Located in Foley and Orange Beach

316 McKenzie St., Suite 118
Foley, Alabama 36535

27250 Perdido Beach Blvd. #F3
Orange Beach, Alabama 36561

Our Loan Checkup Service Gets Your Loan In Shape

Everything needs a checkup from time to time.  You have to go into the doctor for a health checkup.  Your car needs an inspection every couple of years.  Why should your loan be any different?  While these other checkups might end up with you having to cut salt out of your diet or buy a new carburetor, our new Loan Checkup program can SAVE you money!

 

Why would you need a loan checkup?  Because the market is HOT right now.  Mortgage interest rates are the lowest they have been in the last 3 years.  You can make a killing refinancing to today’s lower rates and save money every month.  You could also look at a Cash Out Refinance and take money out of your house to pay off high interest credit card bills, or shorten the term of your loan with a Rate and Term Refinance.

 

It’s time for a loan checkup, even if you refinanced or purchased as little as 6 months ago.  The market is changing quickly, and the smart buyers are getting on board now.

 

The best part of our loan checkup?  It’s free, and it will only take you 5 minutes to fill out the paperwork on our online forms.  We are excited to take a look at your current loan and want to help you take advantage of today’s lower rates and higher home values to save money, add value to your home, or shorten your loan commitment.

 

In fact, sometimes you can do all 3!

 

For your free loan checkup, call the best mortgage lender in Alabama, Mike Carey’s Alabama Loan Experts Team in Gulf Shores (901) 619-3665 or visit AlabamaLoanExperts.com to apply now. Alabama Loan Experts has the lowest rates on Conventional, FHA, Mortgage Refinances, Jumbo Loans, Debt Consolidation Loans, Rate and Term Refinances, Cash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages and The Bank Statement Mortgage. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Alabama Loan Experts.

Mike Carey

Mike Carey

As a mortgage professional with over twenty years experience, I understand the lending guidelines and keep up with the constant change in the industry. In my 20+ years of mortgage lending, I have helped thousands of buyers throughout the country. My specialties include all areas of lending from first time home buyers to seasoned buyers.

  • Close your loan in as little as 14-days
  • Day 1 Certainty simplifies the process
  • Customer service no one can match

How Can We Help You?

Alabama Mortgage Lender

Best Mortgage Rate Alabama









Alabama Home Loans & Mortgages

Best Home Mortgage Options For Ideal Borrower Situations

Pay Off High Interest Debt and Cash-out Equity In Your Home

Flexible Home Mortgage Guidelines With Attractive Rates

Refinance Your Current Home Mortgage Without An Appraisal

Higher-Dollar Home Loans From A Trusted Mortgage Lender

No Down Payment VA Home Loan For Military Veterans & Active Duty

Home Mortgage For Business Owners & Self-Employed

Get a 5-min Home Loan Approval & Close Your Mortgage in 14-days!

The Mike Carey Team – Offices Located in Foley and Orange Beach

316 McKenzie St., Suite 118
Foley, Alabama 36535

27250 Perdido Beach Blvd. #F3
Orange Beach, Alabama 36561

The Teacher Appreciation Program

Teachers are an underappreciated group, so we created the Teacher Appreciation Program, or TAP.  They are responsible for making sure that our children learn proper grammar, how to spell, and the history of our great nation.  How do we compensate them?  They end up having to buy supplies out of their own pockets to be able to properly teach the kids. 

 

We think that’s a real issue, so we decided to do something about it.  The new Teacher Appreciation Program is built from the ground up to offer something special to our educators.  For every loan that we close with a teacher, we will give that teacher a $500 Target gift card to buy the school supplies that they need to teach the youth of America.

 

We all have a great teacher story, because a teacher has affected our lives in some way.  We wanted to give back where we could to help them teach the next generation of students the right way.

 

So, if you are a teacher and you want to take advantage of the extremely low rates available right now, you should apply online with our easy 5-Minute Loan Approval.  That way, you can get back to grading papers and creating lesson plans and let us find the best possible loan for you.

 

If you know a teacher, please pass this on to them so that we can help them get a great loan and a bonus!  It’s like giving them 1000 apples!

 

Every loan program is eligible for this promotion, from FHA and Conventional to Cash Out and Hero Loans.  If you are a teacher, you are eligible for this program and we would love to work up options.

 

Take advantage of low rates today by refinancing or finally buying the dream home you’ve always wanted.  Or you could take a cash out refinance and put in a pool for summer break!

 

Call the best mortgage lender in Alabama, Mike Carey’s Alabama Loan Experts Team in Gulf Shores (901) 619-3665 or visit AlabamaLoanExperts.com to apply now. Alabama Loan Experts has the lowest rates on Conventional, FHA, Mortgage Refinances, Jumbo Loans, Debt Consolidation Loans, Rate and Term Refinances, Cash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages and The Bank Statement Mortgage. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Alabama Loan Experts.

Mike Carey

Mike Carey

As a mortgage professional with over twenty years experience, I understand the lending guidelines and keep up with the constant change in the industry. In my 20+ years of mortgage lending, I have helped thousands of buyers throughout the country. My specialties include all areas of lending from first time home buyers to seasoned buyers.

  • Close your loan in as little as 14-days
  • Day 1 Certainty simplifies the process
  • Customer service no one can match

How Can We Help You?

Alabama Mortgage Lender

Best Mortgage Rate Alabama









Alabama Home Loans & Mortgages

Best Home Mortgage Options For Ideal Borrower Situations

Pay Off High Interest Debt and Cash-out Equity In Your Home

Flexible Home Mortgage Guidelines With Attractive Rates

Refinance Your Current Home Mortgage Without An Appraisal

Higher-Dollar Home Loans From A Trusted Mortgage Lender

No Down Payment VA Home Loan For Military Veterans & Active Duty

Home Mortgage For Business Owners & Self-Employed

Get a 5-min Home Loan Approval & Close Your Mortgage in 14-days!

The Mike Carey Team – Offices Located in Foley and Orange Beach

316 McKenzie St., Suite 118
Foley, Alabama 36535

27250 Perdido Beach Blvd. #F3
Orange Beach, Alabama 36561