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Gulf Shores Alabama Mortgage Companies

These mortgage companies are located in Gulf Shores and many specialize in vacation property, condo mortgages, beach houses, but all would be happy to talk to you about your new home construction, refinance mortgage, or second mortgage home loan.

First National Bank Mortgage Department

First National Bank offers first and second mortgages for conventional, VA loan, conforming and jumbo loans. They also offer interest only, fixed rate and adjustable mortgages. Being a National Bank, they can also offer first mortgages for loans outside the Alabama area. If it is your primary residence, second home or investment property check with First National Bank of Baldwin County.
205 East 20th Avenue
Gulf Shores, AL 36542
(251) 968-6565
www.FirstBaldwin.com  

First Gulf Bank Mortgage Division  

Has on site underwriting. processing and closing to serve you. They offer mortgages for primary residences, second homes, investment properties, land loans, and condos. First Gulf Bank Mortgage Division was voted best mortgage company by readers of the local Gulf Coast newspapers. 
250 West Fort Morgan Road
Gulf Shores, AL 36542
Phone: (251) 968-2500
www.FirstGulfBank.com  Chuck Templeton www.chucktempleton.com 

BancorpSouth

Now open in Gulf Shores from a family of banks serving Mississippi, Alabama, and Tennessee, based in Tupelo, Mississippi. Because BancorpSouth believes that buying your home should be exciting, fun, and easy, they offer Easy Home Mortgages, to make the application, closing, and payment processes easy for you. If you're looking for a home equity credit line or home equity loan, BancorpSouth has a product to fit your need. Plus, you can even borrow up to 110% of the value of your home; it's your choice with BancorpSouth's Equity Credit Line or Equity Credit Loan.
229 Easy 20th Ave. Suite 7
Gulf Shores, AL 36542
Phone: (251) 967-1975
 www.bancorpsouthonline.com  

Gulfside Mortgage, Inc,  

is on Cove Ave in Gulf Shores. They offer competitive rates, quality service and a variety of loan programs. 
132 Cove Avenue
Gulf Shores, AL 36542
Phone: (251) 968-1808 or 1.877.968.1808 gulfside@gulftel.com 

Worthington Mortgage Group, Inc.  

claims to have the fastest mortgage approval in the South ! Their ads say 30 min. or less approval with minimum documentation. They handle new home purchases, refinancing, new construction. No down payment on loans up to $650K. No PMI programs. Programs available for bad credit, slow credit, bankruptcies. 
136 Cove Avenue
Gulf Shores, AL 36542
Phone: (251) 981-5626 or 1.800.917.9416
www.worthingtonmortgage.com 

Southern Home Mortgage 

has been serving the state of Alabama since 1995. They are Alabama condo loan specialists. They also handle construction loans, vacation property loans, home equity loans, first time homebuyers, offer free pre-qualifying. They are 1.5 miles north of the Intercoastal Bridge in Gulf Shores Alabama.
3817 Gulf Shores Parkway, Suite 2
Gulf Shores, AL 36542
Phone: (251) 943-5885 www.southernhomemtg.com 

CTX Mortgage Company

has been in the homebuilding industry over 40 years and has over 20 years in residential lending. They have a variety of programs such as FHA/VA Lender, No Money Down, First Time Homebuyers, Self Employed, Investors, and No Income/Stated Income.
P.O. Box 1358
Gulf Shores, AL 36542
Phone: (251) 955-5626 or 1.877.508.5626 www.ctxmortgage.com 

Fidelity Mortgage, Inc.

is available nights and weekends and if you can't make it to their office, they will come to your house or condo. Fidelity Mortgage says they are "Self-Employed" specialists and offer free pre-approvals. The complete loan package is available for download at their website.
1544 West 2nd Street Suite 102
Commerce Park
Gulf Shores, AL 36542 www.fidelitymortgageinc.com 

Seaside Mortgage

specialize in self employed borrowers and offer several types of loans including jumbo and super jumbo loans, home equity loans, construction-permanent loans and conforming and non-conforming loans.
3145 Gulf Shores Parkway
North Side of Intercoastal Bridge
Inside the Century 21 Professional Partners Building
(251) 968-3583 www.seasidemortgage.net

Wells Fargo Home Mortgage

One of the nation's leading retail mortgage lenders. They offer a wide selection of conventional loans for condos or second home loans. FHA and VA loans, Jumbo loans, no documentation loans, new construction loans. Call them for info on vacation property mortgages or condo mortgages. Wells Fargo Home Mortgage serves the entire Gulf Coast.
109 West 14th Avenue
Gulf Shores, AL 36542 251-970-1036    1800-624-27-58

Always First Mortgage

Always First is owned by Amanda Landry and Karen Llewllyn and is a full service mortgage brokerage firm with  an experienced staff offering expertise in every area of mortgage lending from purchase to refinancing. They also do construction loans. Amanda and Karen can arrange for letters of credit for pre-construction condos as well as match their clients with many mortgage products. Borrowers can fill out an application by appointment , online or by phone , email fax or thru the mail. 

3500 Gulf Shores Pkwy
Near Jack Edwards Airport
(251) 450-3001

The Mortgage Group

Use The Mortgage Group web site to apply online, use the mortgage tools, view The Mortgage Group loan programs, contact  or learn more about them.
Whatever your residential financing needs, The Mortgage Group will tailor a loan that's right for you: Purchase, Refinance, Construction, Home Improvement, Home, Equity Loans, Investment Properties, Debt Consolidation Loans, Stated Income Loans, and Damaged Credit Loans

128 Cove Ave Suite 1
Gulf Shores, AL 36542
(251) 968-5055

Helpful Mortgage Terms:

Adjustable Rate Mortgages (ARM)

A mortgage with an interest rate that may change, usually in response to changes in the Treasury Bill rate or the prime rate. The purpose of the interest rate adjustment is primarily to bring the interest rate on the mortgage in line with market rates. The mortgage holder is protected by a maximum interest rate (called a ceiling), which might be reset annually. ARMs or adjustable rate mortgages, usually start with better rates than fixed rate mortgages, in order to compensate the borrower for the additional risk that future interest rate fluctuations will create.

Annual Percentage Rate (APR)

Is an interest rate reflecting the cost of a mortgage as a yearly rate. This rate is likely to be higher than the stated note rate or advertised rate on the mortgage, because it takes into account point and other credit costs. The APR allows home buyers to compare different types of mortgages based on the annual cost for each loan.

Effective Interest Rate

The annual rate at which an investment grows in value when interest is credited more often than once a year.

Interest rate

The amount of interest charged on a monthly loan payment; usually expressed as a percentage.

Fixed Rate Mortgage

The interest rate for a fixed-rate mortgage remains the same for the life of a mortgage, and the monthly payment also stays the same for the life of the mortgage

Loan-to-value Ratio (LTV)

The ratio of money borrowed on a property to the property's fair market value. For example, on a $100,000 house, if the buyer makes a $20,000 down payment and borrows $80,000, the mortgage is 80 percent of the price of the house. In this case, the loan-to-value ratio is 80.