Are you looking to buy your first home? We have information and resources available to help you every step of the way.
What’s the first step on the road to homeownership? Saving your money. And now, thanks to a new law in Alabama, building up your savings account just got easier. First-time homebuyers can now create a tax-free savings account to be used towards the purchase of their first home. That’s right, tax free! This new resource in Alabama is exclusively for first-time buyers or those reentering the housing market if you haven’t owned a home in the last 10 years.
Learn more about the First-Time Homebuyer Savings Account here with in-depth question and answers and downloadable materials.
Find Your Expert.
REALTORS® are the experts of all things real estate in Alabama. They can help guide you through your home buying journey even before your start looking at houses.
Buying a home is likely the biggest financial decision you will make, so be sure to get the support you need by working with a REALTOR®.
Getting a Mortgage
First, it's important to know how much mortgage you can afford. Consider your income and monthly expenses when weighing your monthly mortgage options. To help, you can use this home affordability calculator to estimate how much home you can afford quickly and easily.
Choose the right lender for you.
There are numerous mortgage lenders available in Alabama. Research the options available to you, and be sure to get several quotes and compare rates. You can use this mortgage calculator to experiment with different mortgage scenarios based on your location and down payment, for example.
What are you looking for in a house?
Two-story colonial? Ranch style? Walking distance to a coffee shop or school? Keep a list of what it is you are looking for in a home based on your needs and desires.
It helps to research houses online to narrow down your list and see the kinds of houses that are typical in your desired location. Your REALTOR® can help with this, as well.
There are loads of great resources available for first-time buyers. Check out some options below: