Moving Family Forward

Purchase-Money Mortgage in Birmingham, Huntsville & Mobile

Purchase-money mortgages are also referred to as seller financing. They provide buyers with less-than-perfect credit the chance to buy a home. Weber Mortgage is the most reliable mortgage company to provide purchase-money mortgage services in Birmingham, Huntsville, MontgomeryMobile, and other cities within our Alabama service area.

Weber Mortgage has been operating since 1999 and has earned quite a respected place among the clients. Our experts offer superior rates and services for VA, FHA, conventional, non-qualifying, and other types of home loans. From the first contact to the final closing, your biggest investment is our priority. We make your home loan process clear and straightforward.

Purchase-Money Mortgage

How Does a Purchase-Money Mortgage Work in Alabama?

A purchase-money mortgage or seller/owner financing is a loan given to the buyer from the property seller. It’s common when the buyer doesn’t qualify for standard bank financing.

As the “bank,” the seller sets down payment, interest rate, and closing fee requirements. The buyer pays the seller a down payment and a financing instrument outlines the loan details. Like a typical mortgage, the financing instrument is recorded with the county protecting both the buyer’s and seller’s interests.

Types of Purchase-Money Mortgages

Types of Purchase-Money Mortgages

When buyers use a purchase-money mortgage, they work out a deal with the seller. Some typical purchase-money mortgages include:

  • Land Contract
  • Lease Option Agreement
  • Lease-Purchase Agreement
  • Assuming The Seller’s Mortgage
  • Hard Money Loans

Why Choose Weber Mortgage for a Purchase-Money Mortgage in Birmingham?

It’s human nature to build a family and every family dreams to have its very own home. Therefore, it’s only natural that professionals with a family-oriented perspective will realize the true passion for every person seeking a home loan. Weber Mortgage is a family-owned company and we know how important it is for you to find the most suitable loan & home that not only meets your desire but also takes care of your financial status.

Contact us today or call us at 205-751-8583 to take the first step in making your home-ownership dream come true. Our services are available in Adamsville, Birmingham, Demopolis, Calera, Echola, and other places throughout the Alabama state.