Find Mortgage Lenders in Madison, AL
Directory of mortgage lenders in Madison, Alabama. Verify credentials with the state state mortgage licensing authority before hiring.
Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the
State Mortgage Licensing Authority of Alabama before hiring.
Showing 11 mortgage lenders in Madison, AL
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Madison Alabama home buyers and homeowners can work with local mortgage lenders to secure financing for a new home or refinance. Alabama law requires lenders to follow specific licensing rules under the Alabama Secure and Fair Enforcement for Mortgage Licensing Act. Many lenders in Madison offer conventional, FHA, VA, and USDA loans to meet different needs.
What Does a Mortgage Lender in Madison Cost?
Typical mortgage lender costs in Alabama include an origination fee of 0.5 to 1 percent of the loan amount, plus appraisal fees around 400 to 700 dollars, and title insurance averaging 1,000 to 2,000 dollars. Closing costs in Madison often total 2 to 5 percent of the purchase price. This information is general and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What documents do I need to apply for a mortgage in Madison Alabama?
You typically need pay stubs, tax returns, bank statements, and a valid ID. Alabama lenders also require proof of homeowners insurance before closing.
How long does it take to close on a mortgage in Alabama?
A standard mortgage closing in Alabama usually takes 30 to 45 days. Delays can occur if appraisal or title work takes longer than expected.
Are there Alabama specific mortgage programs for first time buyers?
Yes. The Alabama Housing Finance Authority offers the Step Up and Advantage programs with down payment assistance for qualified first time buyers in Madison.