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 Be Patient. Processing all of the paperwork that's required for a new loan takes time. Be patient while your loan moves through the system. Protect your credit score by paying your bills and making your mortgage payments on time and not taking on any more new debt than you absolutely have to.
 See also:
 Lifestyle Mortgage LLC »
Offers home loans and refinancing. Includes ownership benefits and online application.
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 Fidelity Mortgage, Inc. »
Serving the Alabama and Florida Gulf Coast, specializing in condo and residential property loans.
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 CIS Financial Services »
Provides financing options for manufactured, modular and stick built housing needs.
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 Lawhorn & Associates Mortgage Co. »
Mortgage lender offers residential conventional mortgages for single family residences in Alabama.
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 Diversified Mortgage »
Provides residential, investment and commercial property financing. Includes programs, rates, FAQs, and job opportunities. Based in Birmingham.
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 Mortgage Professionals, Inc. »
Specializing in new construction loans. Features programs, company overview, current rates, downloadable forms. Based in Birmingham.
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 Magellan Mortgage Services, Inc. »
Alabama-based mortgage firm serving consumers of Alabama, Tennessee, and Georgia.
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 The Mortgage Group Inc. »
Provides residential mortgage financing for Albertville and Gadsden, Alabama.
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 First Lenders Mortgage Corporation »
Offers a variety of residential options. Features guide to the buying process and list of loan officers. Locations in Albertville, Homewood, and Sylacauga.
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 Americapital Funding »
Provides residential mortgage financing for Hoover and all of Alabama.
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 Magnolia Mortgage Company »
Provides residential mortgages and financing services; offices in Mobile and Foley.
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 Resist "no cost" refinancing. No cost doesn't mean free. On the contrary: The closing costs are usually bundled into the new mortgage, which means you pay interest on them. The fees associated with a 30-year mortgage could cost you more than double what they would have had you simply written a check for them at closing. Or, if the costs aren't bundled in, you'll be charged a slightly higher interest rate. Either way, the lender wins.
Refinancing can be the right move to improve your financial situation, but be careful. Making the wrong move can put you much worse off. Smart and simple choices will go a long way toward keeping you financially secure.
If you are refinancing from one ARM to another, check the initial rate and the fully-indexed rate. Also ask about the rate adjustments you might face over the term of the loan.
Be specific about the loan you want. The more precise you are, the easier it will be for a loan officer or mortgage broker to find the best rate. For example, do you want a 15-year or 30-year mortgage? Do you need a "jumbo" mortgage (more than $333,700)? Are you willing to pay points to reduce the interest rate? The answers to these questions will depend on several factors, including when you plan to sell the house and how soon you want to retire your debt. Only you know the answers, but the sooner you know them, the better.
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