Yes: in Alabama, mortgage loan officers need a state license issued by the Alabama State Banking Department, Bureau of Loans; NMLS. You can check a name yourself on NMLS Consumer Access.
Mortgage loan officers in Alabama: what buyers ask
What first-time buyer programs does Alabama offer?
Alabama offers first-time buyer help through the Alabama Housing Finance Authority (AHFA): First Step and Step Up give below-market rates and down payment help of 4% of the sales price, up to $10,000. The City of Birmingham's Ready to Own program adds up to $10,000 for homes inside city limits.
What does an FHA loan require?
FHA loans need 3.5% down with a 580 credit score. Upfront mortgage insurance is 1.75% and the annual premium is 0.55% at 96.5% LTV.
Check a mortgage loan officer yourself
- License required · Alabama State Banking Department, Bureau of Loans; NMLS
- Titles you will see: Mortgage loan originator
- Check a name yourself: NMLS Consumer Access (we could not open this search page ourselves)
The 10 sectors of Birmingham
ZIP 35211 · ZIP 35205 · ZIP 35206 · ZIP 35208 · ZIP 35212 · ZIP 35204 · ZIP 35222 · ZIP 35207 · ZIP 35218 · ZIP 35234