251-597-8691 | NMLS ID# 1511721 | email@example.com
* With over 24 years experience, Carmen is well-versed with everything that has to do with getting a mortgage loan for your new home. My clients are my most important asset so I only endorse professionals who I feel will give my clients the best experience.
Being a Realtor for 13 years I know that having a mortgage partner who understands the details of your loan from inception to closing is crucial to a successful transaction. Carmen will take care of you! She’s a great communicator and will keep you informed throughout the process (which is so important). While Carmen lives and works in Baldwin County AL, she and her team has vast experience of being licensed in 3 states and has an understanding of real estate. She knows how to work with people like me – your Realtor. If you need her – she’ll be there!
We live in an area that is a mix of full time residents, second home owners, and investors. About 98% of the buyers at the beach are investors who are capitalizing on the tourism market. I say this because a mortgage company from a different state wouldn’t understand our “condo market”. Carmen and Thompson Kane Mortgage Loans can handle it all. They not only understand the condo market but they can work with you on anything from a single family home in Spanish Fort to a empty lot in Gulf Shores to a Turquoise purchase in Orange Beach.
* Last week I posted about a mortgage lender (Carmen Hill) who I’m very excited about endorsing through livegulfshoreslocal.com, which is one of the largest real estate sites in the county. She did not prove me wrong and has worked with several of my clients to get them approved for their next home or condo.
We live in a very exciting market and I’m looking forward to doing more with Carmen Hill who I know will put my clients first. After all, my clients come first and I want to team with professionals who carry the same values. Thank you, Carmen. Continue to do the great job that you’re doing.
If you are thinking about purchasing a home or condo anywhere in the Baldwin County area, please contact her. She will treat you well and will give you a professional experience to get the job done. Baldwin County includes the cities of Spanish Fort, Daphne, Fairhope, Foley, Gulf Shores, and Orange Beach. She covers both single family homes and condos.
Worried about your home purchasing options? Having trouble determining your affordability range? Need to know more on how to qualify for a loan? Thompson Kane has answers for some of the most common questions we hear in this FAQs section.
When it comes to determining your “affordability range”, we will take your income and use a calculation to include your proposed housing expense and your current debt. This will become your DTI (Debt to Income) Ratio. To stay within the allowable percentages, we will be able to provide you with a maximum loan amount.
The best thing you can do is contact one of our experienced Loan Officers and let them do the math that can provide you the correct information. We will provide you with a pre-qualification with no obligation to us. We would love to speak to you about your financing needs and if we can help, we would be honored to earn your business.
Conventional Loans generally require a minimum down payment of 20% of the sales price although, there are specialty programs that allow for a 3% down payment.
Along with the down payment, there are other fees associated with buying a new home. Examples include Lender fees, Title Company fees, Appraisals, Inspections, Taxes and Insurance on purchases. Contact me for a complete explanation and list of potential fees.
Pre-qualification involves an informal and brief overview of your assets, income and credit. We will give you an estimate of a maximum loan amount you are qualified for based on the information you provide.
The purpose of pre-qualification is to give potential and first-time buyers an idea of their affordability range. The process is neither as accurate nor as comprehensive as a pre-approval. The latter is an intense process and formal evaluation of all your income, credit and assets that are documented and can be easily verified.
The pre-approval process involves a credit pull and some income/asset verification as requested by your Loan Officer. Your information is ran through our Desktop Underwriting engine and a decision will be made for Eligibility.
Provided the decision is an Approval, your Loan Officer will be able to now provide you with the Pre-Approval Letter. This letter lets the seller and their agent know you are qualified to purchase the home.
Although home inspections are not required,always a good idea to hire a professional and qualified inspector to inspect the home. This could be priceless down the road!
Professional inspectors look for and report on any mechanical issues and in the home and that can lead to a number of problems for you and your family in the near future. In addition, the inspector will check toilets, faucets, appliances and all other items in the home to make sure that everything is in proper working order. If the inspector makes note of potential or real problems, now is the time to address this with the seller and their agent.
Some of the standard documents requested include:
You can find a list of documents needed by clicking this link:
Your purchase agreement will have a contracted date that the loan must close by which will generally be 30-45 days from the date of signing the contract.
On Closing Day, you will sign your final closing documents in the presence of a Notary. This usually takes place at a title company very close to you. Your agent and Loan Officer will always try to be there with you on closing day. Our goal is to be with you at every closing so that if there are questions, we will have answers!
Your loan officer and agent will organize the closing for you. They will also provide you information for your Escrow checks, which generally will be in the form of Cashier Checks. After all disclosures are signed and all fees/down payment balance have been paid and the seller signs, you will be give the keys to YOUR home!
To learn more about the purchase process, please feel free to contact us!
Thompson Kane Mortgage Loans
1203 HWY 98 Market Place Unit 2B-8
Daphne, AL 36526 | NMLS ID# 1511721
Carmen Hill Loan Officer TK Alabama Home Loans | 251-504-3232 | Make your Mobile Bay DREAM home YOUR New Home! Thompson Kane & Co. LLC Daphne, AL offers Great Rates and Service for all VA, FHA, USDA, JUMBO, HELOC, ARM, FIXED Home Mortgages. Get your Pre-Approval letter. FYI, Local Mobile Bay and Gulf Coast Realtor Websites have the most accurate property listings!
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