Quick Summary (Alabama)
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This is a No Bank Needed homebuying program (not a traditional bank mortgage).
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It’s built for buyers who may have bad credit, limited credit history, or past denials—but screening is still required.
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RawFunds buys homes so approved buyers can move in and live in the home (not STR/investing).
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Screening fee is non-refundable and paid to a third-party provider.
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Monthly payment typically includes property taxes + homeowners insurance (paid by RawFunds/servicer).
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You’re responsible for utilities, and repair/maintenance responsibilities are in your agreement.
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You may be required to maintain separate contents + liability coverage.
The Technical Name (Alabama) — simple explanation
In Alabama, this program is often structured as a Bond for Title (that’s the technical name). We explain exactly how it works—payment rules, responsibilities, and how ownership is handled—before you sign anything.
Where we’re focused in Alabama (Target Markets)
Birmingham: 35215, 35214, 35206, 35208, 35211 (Core Market; includes ID# 892515)
Mobile: 36605, 36617, 36610
Montgomery: 36108, 36105, 36107
Huntsville: 35810, 35816, 35805
Gadsden: 35901, 35903, 35904
Anniston: 36201, 36207
Bessemer: 35020, 35022, 35023
Center Point: 35215
Midfield: 35228
Fairfield: 35064
The Alabama 10-Step Process
1) Browse homes
Browse homes on our website by city, price, bedrooms, and estimated monthly payment.
2) Tell us you’re interested
Click Schedule a Showing or Get Pre-Approved and share basic contact info so we can follow up.
3) Program basics (what this is—and what it’s not)
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Not a traditional mortgage.
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Down payment required.
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Written agreement with clear rules on payments, fees, and what happens if payments stop.
Price transparency: The purchase price may be higher than what RawFunds pays the seller. The difference covers acquisition/holding/servicing and providing a No Bank Needed path. Your full price and terms are shown in writing before you sign. Home selection philosophy: We generally avoid homes that require major repairs.
4) Screening (paid by you to a third party)
Non-refundable third-party screening fee. Screening does not guarantee approval.
5) Pre-approval decision
If pre-approved, we provide your payment/price range. If not approved, we tell you directly.
6) Address unlock + tour
We unlock full addresses after pre-approval for a specific home, then you schedule a private tour.
7) Inspection process (RawFunds-led)
RawFunds performs the inspection/condition assessment as part of our purchase process. Because RawFunds is the buyer purchasing from the seller, we evaluate the home for our own purchase decision and may request repairs or credits from the seller when appropriate. We may terminate our purchase if the home does not meet our standards.
You still tour the home and ask questions before signing.
8) Review terms in writing
Down payment, monthly payment, length, and estimated fees provided in writing. Repair/maintenance responsibilities explained.
9) Sign + move in
Monthly payment typically includes taxes + homeowners insurance (paid by RawFunds/servicer). Utilities are your responsibility. Repair/maintenance responsibilities are in your agreement. Contents + liability coverage may be required.
10) Offer process + funding + timeline
Reservation deposit (non-refundable). Down payment funds provided before offer submission so we can move quickly. Wire safety may include a small test wire first.
Timeline: Most buyers get keys in about 35–45 business days after funds are confirmed (excluding weekends and federal holidays). Some homes take longer; if that happens, we will keep you updated with the new expected date.
Funds Receipt & Purpose Acknowledgment
After funds are received, RawFunds sends a written acknowledgment confirming what the funds are for, which home they’re tied to, the next milestone, and refund triggers/method.
Hard timeline commitment
If RawFunds does not submit an offer within 7 business days after down payment funds are confirmed received (excluding weekends and federal holidays), your down payment funds are refundable upon request.
Ready to take the next step in Alabama?