Most businesses in Alabama will need to use the services of an Alabama mortgage company at some time or another. The cost of a business location is simply too high for many new businesses, so they must turn to mortgage lenders in Alabama to finance their mortgage. Alabama companies are ready to help them get started.

Many Alabama business owners prefer to work directly with mortgage companies in Alabama. An Alabama mortgage company will know the state laws that pertain to doing business in Alabama. This can help a new business from making costly mistakes, such as buying a property without the correct zoning laws.

When choosing among the mortgage lenders for Alabama businesses, you should:

1. Choose mortgage companies in Alabama that are familiar with business real estate.
2. Have a lawyer check the zoning laws for any properties that interest you.
3. Compare the offers of mortgage lenders in Alabama with companies that operate nationally.
   

Action Steps
The best contacts and resources to help you get it done

Do you have a legitimate bank for your mortgage? Alabama has professional associations to check.

Before you select an AL mortgage lender, you should check their qualifications. It is often a good bet to do business with a business that is a member of a professional organization.

I recommend: The Alabama Mortgage Brokers Association lists their members on their website. You can verify with them whether the broker you are interested in is able to give mortgage loans in Alabama.

Use online sources to compare the rates of Alabama mortgage companies

It is best to get a feel for the types of rates that you mortgage companies will offer you. Alabama rate quotes are available from a variety of online sources.

I recommend: E-Loan allows you to search mortgage rates easily online. MoneySearch.com also offers quotes from several lenders just by filling out a simple application.

Contact local Alabama Banks About their programs to get great deals

You may be able to get a great deal simply by working with a local Alabama bank. These banks know all about Alabama law and may be more likely to work with Alabama businesses.

I recommend: CapitalSouth offers commercial real estate loans to business owners. Countrywide is a nationwide bank that gives you the option to apply for a mortgage online or by scheduling a consultation.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  When comparing rates between different mortgage companies in Alabama, it is important to make sure that the rates you see are from the same period. Mortgage rates fluctuate on a day-to-day basis and you want to be sure to compare apples to apples.
• •  Always compare rates to be sure that you are getting the best deal on your mortgage. Alabama banks may be able to offer you a lower rate if you negotiate.
• •  Be aware of additional fees that may come with your commercial mortgage. A low interest loan may cost more when you factor in the additional fees.
• •  Get a free credit report before applying with an Alabama mortgage company. A bad credit score may prevent you from getting the best rates.