Real Estate Information

9171 Vaughn Road, Pike Road, AL  36064

MLS# 577729

4 Bedrooms | 3 Baths | 2 Half Baths | 4,740 Square Feet | Pike Road

EXQUISITE PIKE ROAD ESTATE SITUATED ON 4.7 +/- ACRE CORNER LOT! As you pull down the circular drive you are greeted by a cast iron fountain and beautiful landscaping. The grand foyer has soaring ceilings, handmade wood brick floors and a chandelier that is sure to catch your eye. The living room has lots of windows and a masonry fireplace flanked by built-in bookcases. The dining room has antique wood pocket doors. The kitchen has granite countertops, a smooth surface cooktop, double ovens and a work island. There is plenty of drawers and cabinet space and a large pantry located in the laundry room. The Butler's Pantry has an additional drawer and cabinet storage for your entertainment pieces and boasts granite countertops and a sink. The den has handpicked 10-12 in. heart pine floors that have recently been redone. There is a masonry fireplace and wood storage area below the original heart pine mantle. There is a half bath off the den for your convenience. The family room has windows everywhere, giving you views of the grounds and pool! This room has a great bar area with granite countertops, mirrored shelving and a half bath that is ideal when swimming or entertaining on the patio. The primary bedroom has a sitting area and walk-in closet. The main bath has a huge walk-in shower with double shower heads. The room off the primary suite is perfect for an office. Three additional bedrooms upstairs with walk-in closets and two full baths. Tons of storage closets including floored attic space. The pool area is remarkable with a huge, covered patio including an outdoor kitchen with sink, refrigerator, built in gas grill and bar. This property is gorgeous! Come see for yourself, you won't be disappointed.

Marketed by Montgomery AL Realtor, Lauren Keen, Sandra Nickel Hat Team!

Real estate terminology can feel like a foreign language—confusing, overwhelming, and filled with jargon. But don’t worry—we’ve got you covered!

Today, we're breaking down one of the most important concepts in buying and selling homes: comparables (often called “comps”). Understanding how comps work can give you a major advantage, whether you're pricing your home to sell or figuring out a fair offer to make.

Comparables, or “comps,” are a key term in real estate—and they play a big role in determining a property's value. Comps refer to recently sold homes that are similar in size, condition, location, and features to the home you're buying or selling.

By analyzing these similar properties in the same neighborhood, you can get a realistic idea of what a home is truly worth. Whether you're a buyer trying to make a smart offer or a seller setting the right price, comps provide valuable insight to help guide your decisions.

Comparables are a vital tool for everyone involved in a real estate transaction.

Buyers rely on comps to help determine a fair and competitive offer on a home. Sellers, on the other hand, use them to set a smart and strategic listing price. And for real estate professionals, comps are essential for staying up to date on local market trends and pricing shifts.

In short, understanding comps means understanding the market—and that leads to better decisions.

Location matters—a lot—when it comes to comparables.

One of the most important factors in choosing accurate comps is proximity. To get a true sense of a home's value, the properties you're comparing it to should be nearby, ideally within the same neighborhood. That’s because real estate markets can vary significantly from one area to another, even within the same city.

If homes in the exact neighborhood aren’t available, you can expand your search slightly—but the closer, the better for an accurate comparison.

The most useful comps are often homes that are currently “pending.”

Why? Because a pending sale means a deal has already been reached, giving you the most up-to-date reflection of current market conditions. Since real estate markets can shift quickly, using the freshest data is key.

When reviewing comps, focus on homes that have sold within the last three months. In some cases, going back up to six months is acceptable—but anything older likely won’t reflect current pricing trends and could give you a skewed picture of a home’s value.

Features matter when choosing the right comps.

For a comparison to be truly accurate, the homes you’re evaluating should share similar characteristics. This includes key details like square footage, number of bedrooms and bathrooms, lot size, and layout.

Upgrades and special features also play a big role. A home with a remodeled kitchen, scenic view, or finished basement isn’t directly comparable to one without those enhancements. The more closely aligned the features are, the more reliable your pricing insights will be.

How to Find Real Estate Comps to Determine House Value

Remember, your Hat Team Realtor has valuable insights you might not see in the data alone.

When reviewing comps, you may notice that a similar home is priced higher or lower than yours—and it’s not always obvious why. That’s where your Hat Team Realtor comes in. We have access to details and context that may not be publicly available, such as the condition of a home, seller motivation, or updates that weren’t listed online.

It’s also important to understand that comps are estimates, not official appraisals. They offer helpful guidelines, not a guaranteed value. Still, understanding comparables is key to making smart decisions in today’s real estate market. Whether you’re buying or selling, knowing how to evaluate similar homes can help you price wisely, negotiate confidently, and avoid costly mistakes.

But remember—you don’t have to navigate it alone. A knowledgeable Realtor can interpret comps, explain the nuances, and guide you every step of the way.

📞 Ready to make your move with confidence?

Contact The Hat Team today at 334-834-1500 or email [email protected]. We're here to help you price it right—and get it sold.

2258 Allendale Road, Montgomery, AL  36111

MLS# 577989

4 Bedrooms | 3 Baths | 1 Half Baths | 2,660 Square Feet | Allendale

This custom-built Allendale home has all the bells and whistles you would expect to find in a high-end home and is ready for a new owner to love it as much as the former! Named "Le Petit Chateau" by its creator, this whitewashed brick home reminds you of something you would see in Europe. Large open spaces are interchangeable, and the main living space runs the entire width of the house and holds space for den/family (with custom limestone fireplace mantle) breakfast/dining, and upscale kitchen. Lots of extras like bar area, wine cooler, wine storage, powder room, and surround sound all make this space special. Primary bedroom on the main floor overlooks a stunning courtyard and pool area, with soothing sounds from the water wall spilling over into the pool. Primary bath features double vanity, deluxe jetted tub, and large walk-in shower. Upstairs there are three more bedrooms and two baths (one bedroom has en-suite bath!) Attached 2 car garage provides security and storage room for your pool supplies. AND there is even a whole-house generator so you will never have to worry about power outages!

Marketed by Montgomery AL Realtor, Billy Young, Sandra Nickel Hat Team!

Rock the Lot – Prattville

When: July 3, 6:30PM

Kick off Independence Weekend at Rock the Lot featuring live music from local bands, family-friendly activities, and food trucks. Festivities start at 6:30 PM and wrap with a fireworks display to light up the night. Bring blankets or chairs and enjoy a community celebration outdoors in Prattville.

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Sip-n-Cycle Independence Day Boat Party

When: Thursday, July 3 - Saturday, July 5, all day, starting at 11:00 a.m.
Where: Riverfront Park, 355 Commerce St., Montgomery

Jump aboard and enjoy an exciting day of cruising on the Sip-n-Cycle Pedal Cruise, where the fun never stops! Embrace the festive spirit by wearing red, white, and blue, and be ready to celebrate on the Alabama River. This unique riverboat party invites you to bring your own food and beverages, allowing for a personalized touch to your river cruise experience. This event is designed exclusively for adults, and you can expect a lively atmosphere filled with laughter and camaraderie. So, gather your friends, pack your favorite snacks and drinks, and prepare for an unforgettable day on the water!

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Montgomery Biscuits Game and Fireworks

When: Thursday, July 3, 6:35 p.m.
Where: The Riverwalk Stadium

Join the Montgomery Biscuits for another spectacular Independence Day Celebration with a T-Shirt Giveaway, proudly presented by Hardee's! This is the perfect way to honor America’s birthday while enjoying America’s favorite pastime. Experience an unforgettable evening with the Montgomery Biscuits, packed with excitement, laughter, and vibrant fireworks lighting up the night sky.

The gates will open at 5:30 PM, so make sure to arrive early to grab a free t-shirt. The first 1,000 fans aged 15 and older will receive a special limited-edition T-shirt to commemorate this festive occasion. Bring your family and friends to enjoy delicious ballpark food and exciting baseball action. 

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Independence Day Celebration at Riverfront Park

When: Friday, July 4, 8:00 p.m.
Where: Riverfront Park

This event promises to be a fantastic, family-friendly experience filled with joy, community spirit, and fun. Make memories with friends and family as you celebrate Independence Day together at Riverfront Park, where the talented 151st Alabama Army National Guard Band will take the stage. This live outdoor concert will feature a mix of beloved patriotic classics and contemporary favorites that will resonate with all ages.  As the sun sets, prepare to be awed by the fireworks display illuminating the night sky over the serene Alabama River, creating a breathtaking backdrop for this special celebration. Be sure to take a comfortable chair to relax and enjoy the festivities. In addition to the live music, a variety of food trucks and vendors will be on-site, offering a range of tasty treats. Like warm boiled peanuts, gourmet specialty popcorn, refreshing snow cones, and cold lemonade to keep you cool. Don't forget to save room for delectable ice cream, perfect for a summer evening!

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Red, White, and Tube at Montgomery Whitewater

When: Friday, July 4
Where: Montgomery Whitewater

This Independence Day, celebrate with a rush of excitement at Montgomery Whitewater! Montgomery Whitewater is turning up the adventure with the launch of whitewater tubing during its Red, White, and Tube celebration. This high-energy ride sends you through rushing rapids and sharp turns in a whitewater-certified tube—no experience needed, just a sense of adventure. It’s not the only thrill of the day. Experience the thrill of navigating whitewater rapids, perfect for both beginners and seasoned adventurers. Take on the challenge of our ropes course, which features a variety of high-flying obstacles set amidst beautiful scenic views. Enjoy live music from talented local artists that will fill the air with festive tunes and explore a variety of activities and entertainment suitable for all ages. Bring your family and friends and make unforgettable memories this Fourth of July in a vibrant atmosphere filled with celebration and fun!

Harriott II Fireworks Cruise

When: July 4^th, 8PM

Board the Harriott II for a special Fourth of July river cruise with live entertainment, a cash bar, and prime views of the city’s fireworks show. The cruise boards at Riverfront Park and departs at 8:00 PM. This is a popular event, so booking in advance is recommended.

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Fun in the Sun Fourth of July Community BBQ

When: July 4, 12:30-2:00 PM
5801 Eastdale Dr, Montgomery, AL 36117

Join the community and get ready to sparkle and celebrate — the Fourth of July festivities are heating up with fun, food, and freedom! Fire up your appetite with juicy BBQ ribs fresh off the grill complete with all the fixings, then kick back and enjoy our DJ spinning all the great tunes that’ll have you tapping your toes or enjoy some festive games. While you are here, tour our community, meet our residents, and see what makes us the best in Senior Living. We are excited to have a star-spangled blast with YOU!
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49^th Cloverdale-Idlewild Association 4^th of July Parade

When: July 4

Join in for the Annual 4th of July Parade! This year’s theme honors the 250th Anniversary of the U.S. Army, so wear your best red, white, and blue and show your patriotic pride. Decorate your bikes, wagons, strollers—and don’t forget to dress up your pups too!

After the parade, stick around in the park for free hot dogs and cold drinks, music, and a whole lot of neighborhood fun. Bring the family, bring your friends—everyone’s invited to be part of this festive tradition!

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Celebrate Independence Day at the Montgomery Zoo

When: Friday, July 4, 9:00 a.m. - 4:00 p.m.
Where: Montgomery Zoo and Mann Wildlife Museum

Experience a family day out at the Montgomery Zoo and Mann Wildlife Museum this 4th of July! This year, both the Zoo and Museum will be open on Friday, July 4, as well as throughout the holiday weekend, offering a wonderful opportunity for families and friends to come together and celebrate. Explore a diverse range of exciting animal exhibits at the zoo, where you can see majestic lions, playful monkeys, and colorful birds in their natural habitats. Don’t miss the chance to witness the fascinating wildlife up close and learn about their conservation efforts. After your zoo adventure, head over to the Mann Wildlife Learning Museum. Here, you can explore a captivating world of educational exhibits that showcase the beauty of wildlife and highlight the importance of protecting our natural environment.

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First Friday: Red, White & Blues!

When: Friday, July 4, 7:00 p.m.
Where: BB King's Blues Club

BB King's Blues Club is hosting "First Friday with a Twist!" This special event will showcase the incredible talents of two amazing artists, Kiana Scott and Jahz, who will perform live. Prepare to be entertained by their captivating music and dynamic performances! Hosting the night is the charismatic JP Da Poet, who will keep the energy high and the crowd engaged. You’ll also enjoy the beats of DJ KillSwitch, who will expertly manage the music throughout the night.  Go hungry, because there will be a selection of food and refreshing drinks available for order while you soak up the atmosphere. Be sure to reserve your spot today to ensure you don’t miss out on this fantastic experience!

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Coolerfest 2025

When: 4^th of July Weekend
Location: Downtown Riverfront Amphitheater, 355 Commerce St, Montgomery, AL 36015
Price: $25, no cooler fee
Time: Gates open at 3PM, show at 7PM

Experience 4th of July weekend at the Downtown Riverfront Amphitheater featuring R&B and Blues music in a festival atmosphere.

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Have a happy and safe Independence Day!

If you are in the market to buy or sell a home (or both), let me, Sandra Nickel, and my Hat Team of Professionals assist you with all your real estate needs! Call us today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information!

1348 Magnolia Curve, Montgomery, AL 36106

MLS# 577589

2 Bedrooms | 2 Baths | 1 Half Baths | 2,592 Square Feet | Cloverdale

Step into the warm embrace of this beautifully remodeled home in Historic Cloverdale. Entertain in style in the dramatic kitchen/great room combo - designed by a licensed architect - a space made for both everyday living and memorable gatherings. The chef's kitchen dazzles with sleek granite countertops, gorgeous, tiled backsplash, double sinks, two pull out cutting boards, and high-end appliances including an Electrolux double wall oven, Wolf six-burner cooktop, Bosch dishwasher, stainless exhaust hood, dual-zone Zeph'R wine cooler and KitchenAid icemaker at the wet bar. New lighting, custom built-ins and shelving complete the look - every detail designed to elevate the experience of cooking, dining and hosting. The primary bathroom is a spa-inspired retreat featuring a zero-entry shower with all new plumbing, tile and glass enclosure with dual lighting and exhaust for both luxury and practicality. Seamless indoor/outdoor living defines the flow of the home thanks to a full height bi-fold wall that transforms the great room to an open-air haven. The generous deck already has gas and water hook ups to create your own outdoor kitchen. Beyond the deck is a cool outdoor bar with built-in lighting to enhance the ambiance of the patio area. Come see for yourself and be wowed!

Marketed by Montgomery AL Realtor, Lauren Keen, Sandra Nickel Hat Team!

The saying “dog days of summer” refers to the hottest time of year, which in our neck of the woods means July and August, when the heat and humidity hit their peaks. The saying originated from ancient Greek and Roman times when people believed that Sirius, also known as the “Dog Star”, contributed to the harsh summer heat when it was seen close to the sun.

We are now approaching this most uncomfortable time of year in Alabama. The sweltering summer months can not only be physically unpleasant, but they can do a number on your household bills as well. Keeping your home cool is a necessity, but watching those energy bills soar is no fun. Here are some practical tips for fighting the “dog days of summer”:

KEEPING YOUR HOME COOL

Your home cooling system can be your best friend or your worst enemy in the heat of summer. It’s important that you schedule annual maintenance on your AC unit to ensure it is running efficiently. Also be sure to replace filters monthly during heavy use periods.

• OPTIMIZE YOUR A/C SYSTEM

Aim for 78°F (26°C) for an ideal temperature setting when you’re home and awake. Each degree lower can increase your energy bill by up to 3%. It would be smart to invest in a programmable thermostat to automatically adjust temperatures throughout the day. For example, set it so that the temperature is higher when you’re away or sleeping, then program it to cool things off before you return or wake up.

• UTILIZE FANS EFFECTIVELY

Be sure your ceiling fans are rotating counterclockwise during the hot months of the year. This will create a wind-chill effect that can make a room feel up to 4° cooler. No ceiling fans? You can also use portable fans to direct airflow where it is most needed. If you don’t already have one, consider installing a whole-house fan in your attic. This is a powerful fan that will pull hot air out of your home at night, replacing it with cooler air, perfect for summer sleeping.

• CREATE A CROSS BREEZE

You can create natural airflow during the cooler times of day by opening windows. Open low-lying windows on the cool side of the house, and elevated windows on the warmer side. This will be most effective if you use a box fan in the windows to pull in the cool air and push out the warm air.

• BLOCK THE SUN

You may enjoy the natural light that comes in your windows, but they also let in a lot of heat. During the warmest periods of the day use light colored curtains or blinds that will reflect the sunlight.

• USE HEAT-GENERATING APPLIANCES AS LITTLE AS POSSIBLE

The kitchen can easily become the hottest spot in your house when using your oven. Now would be the time to avoid baking. Use the microwave, slow cooker or insta-pot for meals. Or, even better, create meals that don’t require cooking at all, like salads and sandwiches.

When doing laundry, let your clothes air dry rather than using the dryer. This will not only help keep your home cooler but will save energy as well.

If you haven’t already, switch out old incandescent lightbulbs for LED lights. They use less energy and put off less heat.

Unplug electronics when not in use. Believe it or not, even when you’re not using them, electronic devices can still generate heat when plugged in.

• COOK OUTDOORS

Instead of heating up the kitchen, cook your meals outdoors on the grill. If you get hot while cooking, just think about being able to sit inside your nice, cool house to enjoy your meal!

• USE COLD WATER FOR LAUNDRY AND DISHES

Current detergents work well in cold water. You will not only decrease the generation of heat, but you will save on water heating costs as well.

• MAKE SURE WINDOWS AND DOORS ARE PROPERLY SEALED

Even tiny gaps can let cool air escape and hot air creep into your home. Use weatherstripping and caulk to seal any leaks you may find.

Follow these tips and enjoy the “dog days of summer” in the comfort of your cool home!

​If you are in the market to buy or sell a home, let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com/ for more info!

2412 College Street, Montgomery, AL 36106

MLS# 577517

3 Bedrooms | 2 Baths | 1,776 Square Feet | Cloverdale

Welcome to this beautifully updated 3-bedroom, 2-bath cottage style home, located in the Cloverdale Historic District – just steps from the shops, restaurants, and charm this neighborhood is known for. With 1,776 square feet, this home offers both timeless charm and modern updates. Start your morning on the classic front porch with marble pavers and a porch swing and wind down in the evening on the new back deck, surrounded by azaleas and crepe myrtles. Inside, you’ll fall in love with the original hardwood floors, soaring ceilings, transom windows, and light-filled rooms that feel warm and welcoming. Beautiful French doors lead into the open dining and kitchen area, featuring custom cabinetry, quartz countertops, stainless steel appliances, and clever touches like a hidden microwave cabinet! Step outside to a meticulously maintained backyard – featuring a deck that is perfect for entertaining or simply relaxing under the stars. Don’t miss your chance to call this house, and one of Montgomery’s most cherished neighborhoods, home!

Marketed by Montgomery AL Realtor, Ali Bertschy, Sandra Nickel Hat Team!

Nobody likes thinking about what happens after they die. But none of us live forever. One of the best things you can do for your loved ones is to prepare for what happens to your estate in the event of your death or incapacitation.

Estate planning is the process of arranging how your assets will be managed and distributed after your death or if you become incapacitated. It ensures that your wishes are followed, reduces potential family conflicts, and can minimize taxes and legal costs. Here are the key elements:

1. Will

A will is a legal document that outlines how your assets should be distributed after death.  A will can also name guardians for minor children.

2. Trusts

A trust is a legal arrangement to hold assets for beneficiaries. You can save your loved ones from a lot of headaches by setting up a trust because it will help avoid probate and reduce estate taxes. There are several types of trusts. Here are some common ones:

• Revocable (Living Trust)
• Irrevocable
• Special Needs
• Charitable

3. Power of Attorney (POA)

A power of attorney appoints someone to handle financial or legal matters when you are no longer able to do so.

4. Healthcare Directive/Living Will

A healthcare directive states your wishes for medical care if you are incapacitated. You can also include the healthcare power of attorney.

5. Beneficiary Designation

You can list who you want as your beneficiary on accounts like life insurance, retirement plans, and bank accounts. If you designate beneficiaries, these will override what is in a will or trust.

6. Letter of Intent

A letter of intent is not legally binding, but it provides guidance to the executor of the will and any guardians that have been appointed.

7. Estate Tax Planning

Your estate planning attorney can help you strategize ways to minimize taxes (e.g., gifting, charitable donations, trusts).This is especially important if your estate exceeds federal or state tax thresholds.

8. Digital Assets Planning

This will help your loved ones with managing access to online accounts, digital currencies, and data.

TIPS FOR GETTING STARTED:

• Take inventory of your assets: property, investments, accounts, personal valuables, etc.
• Define your goals: Who do you want to be executor of your estate? Who will be your beneficiaries.
• Choose your fiduciaries: Appoint and executor, trustee, guardian, POA agent.
• Draft legal documents: It is ideal to hire an estate planning attorney to assist you with this.
• Review and update your estate plan regularly, especially after major life events.

Estate planning will give you peace of mind knowing that your wishes will be followed, your assets will be protected, and your loved ones will be provided for.

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information!

2207 Winona Avenue, Montgomery, AL 36107

MLS# 577420

3 Bedrooms | 2 Full Baths | 2,671 Square Feet | Capitol Heights

You know those houses that you drive by for years and say "I have always loved that house" or "I would love to live there?" Well, this is one of those special homes! One of only two Lockwood designed homes in Capitol Heights, and one of only a small handful in all of Montgomery, this stunning example is the juxtaposition between Classical design-meets high-end Craftsman style. A wonderful deep front porch studded with columns curves to the side of the house and offers extensive outdoor living spaces. Once inside, you will revel in spacious rooms with 12+ ft ceilings, original stained moldings, ornate mantles, and massive pocket doors. Both the living room and dining room are quite large, and flow seamlessly together. The spacious kitchen is sparse in design and has a large walk-in pantry closet for additional storage. The wide central hallway gives access to three bedrooms and two recently updated full baths. This is truly a one-of-a-kind property, located on a large corner lot, just minutes from downtown!

Marketed by Montgomery AL Realtor, Billy Young, Sandra Nickel Hat Team!

There was a time when there were three mortgage loan types available to home buyers. You could get a Fixed-Rate Conventional Mortgage, an FHA Loan or a VA Loan. But times, they are a changin’.  Now there is a vast array of mortgage loan types to be had!  Let’s learn about some of them, and the differences between them.

We will start with the most popular:

• FIXED-RATE MORTGAGES​
  
  These loans come in 5-year, 10-year, 15-year, 20-year, 30-year, 40-year, and even 50-year timeframes. The interest rate remains the same for the duration of the loan, meaning monthly payments are predictable.

• FHA LOANS​

FHA Mortgage Loan types are insured by the government through mortgage insurance that is funded into the loan. This is an ideal loan type for first-time buyers because it has minimal down payment requirements and does not rely on a 700+ plus credit scores for approval.

• VA LOANS​

VA loans are government loans available to veterans who have served in the Armed Forces for the United States. They are also available to spouses of deceased veterans in some cases. The requirements depend upon the years of service and whether or not the veteran was honorably discharged or not. The primary benefit of a VA Loan is that the borrower does not have to come up with a down payment. The loan is guaranteed by the Department of Veterans Affairs but funded by a conventional lender.

• USDA LOANS

USDA Loans are offered through the U.S. Department of Agriculture for eligible home buyers who want to buy a rural property. They often come with no down payment required and can sometimes be more affordable than an FHA loan.

• INTEREST-ONLY MORTGAGE TYPES

This name is a bit misleading, as these loans are not truly interest-only in terms of the borrower only paying interest on the loan. The reality of the interest-only mortgage is that it offers an option to make an interest-only payment. This option is only available for a set period of time. However, there are some junior mortgages that are interest-only and necessitate a balloon payment in the amount of the original loan balance at maturity.

Now, let’s take a look at HYBRID LOANS:

• ADJUSTABLE-RATE MORTGAGE TYPES
  
  There are various types of adjustable-rate mortgages (ARMS). They can fluctuate monthly, semi-annually, annually, or remain fixed for a set amount of time before they adjust.

• OPTION ARM MORTGAGE TYPES
  
  These types of loans are complicated. Like your standard ARM, the interest rate on them will fluctuate periodically, but in these loans, the borrowers can choose from various payment options and index rates.  WARNING: The minimum payment option can be dangerous as it can result in negative amortization.

• COMBO/PIGGYBACK MORTGAGE LOAN TYPES
  
  This is a type of financing that consists of TWO loans: a first mortgage and a second mortgage. They can be adjustable-rate, fixed-rate or a combination of both.  This option is used by borrowers when the down payment is less than 20% to avoid paying private mortgage insurance.

• MORTGAGE BUYDOWNS
  
  A mortgage buy down is a choice for borrowers who want to pay a lower interest rate in the beginning of their loan.  Basically, fees are paid to lower the rate, thus the name buydown. Buyers, sellers, or lenders can buy down the interest rate for the borrower.

Finally, Specialty Mortgage Loan Types:

• BRIDGE LOANS
  
  Bridge loans are used when a seller’s home has not yet sold and the seller wants to borrow equity to buy another home.  The seller’s existing home is used as collateral for the bridge loan.

• STREAMLINED-K MORTGAGE LOANS
  
  FHA has a program that provides money to a borrower to make home Improvements by rolling the funds into one loan. This is similar to the 203(K) Loan Program, but involves less paper work and is easier to get than a 203(K).

• EQUITY MORTGAGE LOAN TYPES
  
  Equity loans are second, or junior to the existing first mortgage. Borrowers take out equity loans to get access to cash. The loans can be adjustable, fixed, or a line of credit that allows the borrower to obtain funds on an as needed basis.

• SHARED APPRECIATION MORTGAGES
  
  These are rare in the United States, but shared appreciation mortgages allow home buyers to share part of their property’s value gains with an investor or lender. The guaranteed return to the lender means that the borrower will get a lower interest rate and lower monthly payment on the loan.

• REVERSE MORTGAGE
  
  This type of mortgage is for people over the age of 62 who have enough equity in their homes.  Instead of making monthly payments to the lender, the lender makes monthly payments to the borrower for the duration of their residence in the home. Reverse mortgages can be done with either fixed or adjustable interest rates. Please get advice from a trusted advisor before considering a reverse mortgage!

​If you are in the market to buy or sell a home, let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com/ for more info!