1800 International Park Drive, Suite 100
Birmingham, AL 35243
205-970-3000


To see how you can qualify for a Doss Ferry home, contact Mortgage America today!

Debbie Echols :
• 205-706-4316

Finance Your Home

Our preferred lender is MortgageAmerica, Inc.. They offer competitive interest rates as well as numerous loan programs. Financing your home requires a unique relationship between you, the builder, and the lender. By using Doss Ferry’s preferred lender, this relationship is already established.

MortgageAmerica will work closely with you to help determine which financing options fit your needs. Below are loan types that most home buyers will use in the purchase of a home. These loans range from 100% financing to loans with down payments or buy down options.

MortgageAmerica, Inc., has been in business for over 31 years. In 2009, we were recognized by the Birmingham Business Journal as Birmingham's Top Mortgage Company in February of 2009. We have local underwriting, processing, and closing. This is a huge positive since our underwriters actually live in the area that they underwrite for.

100% Financing Loan Programs

100% financing allows a purchaser to buy a home without a down payment. There are several loans that make this possible. Below is a list of some of the most popular 100% financing options. By using these types of loan options, purchasers can keep more of their money for other expenses needed before or after their home purchase.

Bond Loan Program

Subject to availability of funds from the Alabama Housing Authority, this program allows you to finance up to 99.5% of your purchase price. This loan does have income restrictions and other specific loan requirements. MortgageAmerica's loan officers can speak with you and let you know if you would qualify for this financing option.

Veterans Administration Loans

MortageAmerica does participate in VA loans to eligible veterans. VA loans allow for up to 100% financing. Loan amounts are based upon the veteran's eligibility. These loans can go up to $417,000 (subject to the Veterans VA entitlement).

Loans with Down Payments

MortgageAmerica has a variety of mortgage loans with down payments. Down payments can range from as little as 3% down. Having a down payment can benefit you in many ways. Down payments can help you receive a better interest rate and lower or no mortgage insurance premium. These things can help you have a lower overall payment on your new home.

One-Year Rate Buydown

This program allows you to have a lower rate during your first year as a new homeowner. The first year can be the year with the most expenses, with decorating, window treatments, and furniture purchases for your new home. You will be able to rest easy, knowing your mortgage payment will be based upon an interest rate 1% lower than your actual rate. After the first year, your interest rate will return to 1% higher for the remaining life of the loan. An example would be, if you locked in on this program at a 6.50% rate, the first year your principal and interest would be based upon a 5.50% rate. That can be a savings of up to approximately $195 per month based upon a $300,000 loan amount during the first year.

To find out more about mortgage financing or to pre-qualify for a home loan, please contact Debbie Echols at 205-706-4316.