Expertise.com

2024

Last updated:

Best Mortgage Brokers in Montgomery

Our Recommended Top 5

We did the research for you!

  • Licensing
  • User Reviews
  • Mystery Shopping Calls

Our goal is to connect people with the best local professionals. We scored Montgomery Mortgage Brokers on more than 25 variables across five categories, and analyzed the results to give you a hand-picked list of the best.

54Reviewed

34Curated

5Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

401 South Main Street, Wetumpka, AL 36092
WebsiteLicense: 3610

Expertise.com Rating

Review Sources

Google
4.0 (58)
Facebook
4.7 (12)

Why choose this provider?

Mortgage Corporation of the South is a full-service mortgage brokerage that serves the Montgomery area. It works with lenders to help customers find loan policies for their mortgage and refinancing needs. It specializes in developing equity loans for lands, mobile homes, and automobiles. The agents at this company consider a range of variables that can make it easier for borrowers to get accepted during the loan approval process. Mortgage Corporation has been in the industry for over 21 years

  • New Construction

3090 Alabama 14, Millbrook, AL 36054
WebsiteLicense: 460892

Expertise.com Rating

Review Sources

Google
4.0 (9)

Why choose this provider?

First Community Mortgage is a mortgage brokerage firm locally owned by First Community Bank of Central Alabama. Serving the community of Montgomery, it offers government loan programs, such as FHA and VA loans, as well as USDA and conventional loans. In addition, the firm provides home refinancing options for clients looking to lower their monthly payments, consolidate their debt, or get a shorter term loan. Ramona Carter, the company's mortgage loan officer, has more than 23 years of experience in financing homes.

  • Refinance

8421 Crossland Loop, Montgomery, AL 36117
WebsiteLicense: 187699

Expertise.com Rating

Review Sources

Google
5.0 (47)
Facebook
5.0 (18)
Yelp
5.0 (1)

Why choose this provider?

Real Estate Funding is a home loan and refinancing company that is located in Montgomery. It caters to both first-time homeowners and home buyers, comparing and contrasting different loan programs such as conventional, FHA, and jumbo loans. It also assists those with existing loan contracts and compares them to refinancing alternatives, cash-out programs, and streamline loans. Real Estate Funding works closely with multiple local Realtors and can help potential buyers find available houses to rent or to own.

  • New Construction
  • Refinance

1943 Berry Chase Place, Montgomery, AL 36117
WebsiteLicense: 415554

Expertise.com Rating

Review Sources

Google
5.0 (73)
Facebook
5.0 (21)

Why choose this provider?

Jimmy Parsons is a mortgage broker at Guild Mortgage who serves clients in Montgomery. Parsons and his team assist first-time homebuyers, rural residents, and military families in acquiring financial assistance to purchase their new homes through a mortgage loan. The group partners with multiple lenders that can provide a variety of home loan options, such as conventional, FHA, VA, USDA, jumbo, and bridge loans. The team also helps existing homeowners refinance their current mortgage. Past clients commended Parsons and his team for delivering beyond expectations.

  • Reverse Mortgages

702C Commerce Ct, Prattville, AL 36066

Expertise.com Rating

Review Sources

Google
5.0 (16)

Why choose this provider?

Hamilton Mortgage helps its Montgomery-based clients in choosing a mortgage solution for their real estate needs. The gives its clients a two-step process in securing a loan through its website and an assigned real estate agent. Clients can choose between a fixed-rate mortgage and an adjustable-rate mortgage based on their income and credit rating. Fixed-rate mortgages can be fulfilled within a 15-year period or a 30-year period, while adjustable-rate mortgages can accommodate the client's monthly, annually, or hybrid payment options.

  • New Construction
  • Refinance

FAQs

  • Introduction

    It’s the American dream to buy property, and almost everyone who purchases a home does so with the help of a mortgage broker. It can be intimidating when you don’t know where to begin, what information is necessary, and how to receive a loan. A mortgage broker acts as an intermediary between the applicant and the financial institution.


    The mortgage broker’s role includes comparing loan terms across lenders to find applicants the best options, collecting paperwork the financial institution needs to analyze the application, and guiding the buyer through the underwriting and closing processes. Mortgage brokers can significantly simplify the home buying process.

  • Can mortgage brokers work across state lines?

    Yes, mortgage brokers can work across state lines. However, each state has different licensing requirements for mortgage brokers. Customers should ensure their broker can legally work in another state before going across state lines. Lastly, don’t forget the mortgage process is often time-sensitive, so being in different time zones can be problematic.

  • How do mortgage brokers find lenders?

    Mortgage brokers work independently and act as a bridge between the client and the lender. They reach out to several lenders to form a network and build professional relationships with those they work with often. They use lenders who best meet a client's rates and terms, and some lenders only do business through mortgage brokers.  

  • What credit score do mortgage brokers use?

    There are two credit scoring models in the United States: FICO and VantageScore. Mortgage lenders typically prefer to use FICO. However, each credit bureau uses a different version of the FICO score:

    • Experian uses FICO Score 2
    • Equifax uses FICO Score 5
    • TransUnion uses FICO Score 4

  • Do mortgage brokers help with refinancing?

    Yes, mortgage brokers can help with refinancing. Individuals who have a solid credit score will typically go to their bank to refinance their mortgage. However, if you don't have excellent credit, a mortgage broker may be able to secure you a better interest rate than you could get on your own.

    You pay a fee to the mortgage broker, so you'll want to consider this fee versus your savings in your cost-benefit analysis.
  • Can you work with two mortgage brokers?

    You can definitely work with two mortgage brokers. The advantage of using multiple brokers is that you'll have two people reaching out to several lenders to secure the best rate possible. However, you must ensure you provide matching information to all your brokers. If two brokers provide mismatched information about your application to the same lender, it can send off red flags and delay your approval process.

  • Do mortgage brokers get better deals?

    Yes, a mortgage broker should be able to get you a better deal. Mortgage brokers go to several lenders on your behalf and find the one with the best terms and interest rates. However, note that some mortgage brokers have preferred lenders. A broker may bring you their preferred lender's offer, even if it's not the best one; however, this isn't a regular practice.