Financial Links      

  

   Financial Assistance and Pre-Qualification Information

 

WHAT IS THE DIFFERENCE BETWEEN

PRE-QUALIFICATION AND PRE-APPROVAL?

Pre-qualification

A pre-qualification is the process in which the mortgage loan originator reviews the income, debt, assets, credit history and confirmed monies available for down payment and closing costs.  From this information, the mortgage representative is able to confirm the amount and type of loan available to the borrower.  The borrower receives a pre-qualification which basically provides you with an understanding of your lending capabilities.

Pre-approval

When purchasing a home, it can be advantageous to get pre-approved for a mortgage.

A pre-approval takes the pre-qualification process one step further.  A loan application must be completed, which is required in order to be pre-qualified.  The mortgage lender will review the following information: income, debt, assets, confirmed monies available for down payment and closing costs.  A credit report will be run and the lender will then issue a loan approval letter to the borrower based on their review of the information.

The 'pre-approval letter' can then be provided to a Realtor and/or Seller as verification that you are able to obtain sufficient loan funds to purchase a specific property of interest, and thereby expedite the transaction (or real estate closing) process.

FINANCIAL INFORMATION AND MORTGAGE LENDERS

IN THE LAKE MARTIN AREA

If you are interested in further evaluating your lending capabilities, please contact one of these fine lenders for more information:

ALIANT BANK (multiple locations and services available)

Randy P Dawkins, Vice President and Manager
1154 Lee Street, PO Box 1237
Alexander City, AL 35011-1237
256-329-7445; Fax 256-234-4403
Email:
rdawkins@aliantbnk.com

Sandra J. Carlisle, Vice President and Manager
391 North Broadnax Street
Dadeville, AL 36853
256-825-2224; Fax 256-825-2229

ALIANT MORTGAGE CORPORATION

Gary Pittman, Loan Officer
2740 Zelda Road, PO Box 789
Montgomery, AL 36101-0789
334-270-3090; Fax 334-270-3095
1-800-844-3099
gpittman@aliantbnk.com

Myron West, Loan Originator
2740 Zelda Road, PO Box 789
Montgomery, AL 36101-0789
334-270-3090; Fax 334-270-3095
1-800-844-3099
mwest@aliantbnk.com

Leslie McAlister, Loan Officer
2740 Zelda Road, PO Box 789
Montgomery, AL 36101-0789
334-270-3090; Fax 334-270-3095
1-800-844-3099

BANK OF DADEVILLE

Wayne Glasscock, President
242 Broadnax Street
Dadeville, AL 36853
256-825-4284; Fax 256-825-5020
www.bank-of-dadeville.com

Randall McClendon, Vice President and Loan Officer
242 Broadnax Street
Dadeville, AL 36853
256-825-4284; Fax 256-825-5020
www.bank-of-dadeville.com

Jimmy Evers, Vice President and Loan Officer
242 Broadnax Street
Dadeville, AL 36853
256-825-4284; Fax 256-825-5020
www.bank-of-dadeville.com

SOUTHTRUST BANK

SouthTrust Bank
P.O. Box 759
Alexander City, AL 35011
256-329-6800

Attn: Scott Blake, Loan Officer, 256-329-6805

 

COMPASS BANK

Compass Bank
Attn: Gale Beers, Mortgage Banking Officer
3480 Eastern Blvd
Montgomery, AL 36116
334-409-7233; Fax 334-409-7324
1-800-239-2285
 www.compassbnk.com

BUD WEBER MORTGAGE

Attn:  Jim Kiker, Loan Officer
205-531-8194 or 256-825-7661

AUBURN BANK

Attn: Julia McCreight, Mortgage Loan Department
334-887-2736
Auburn, Alabama
jmccreight@auburnbank.com


 

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