Mortgage Team 1, Inc is a family-owned and operated mortgage broker and lender specializing in providing home financing solutions to the residents of Alabama. With over 75 years of experience as a local Mobile lender and having served over 5000 happy customers, we have the knowledge and experience to provide each of our clients with the home loan that meets their exact needs.
Whether you are a first-time homebuyer, or a current homeowner interested in refinancing your existing mortgage, we will find the loan that is perfect for you. We offer an extensive line of mortgage products including FHA Loans, VA Loans, Conventional Loans, USDA Loans, and much more. As both a broker and a lender, we have access to other lender's loan programs so even if ours is not the best fit for you, we can find the loan that is.
Whether you are a first-time homebuyer, or a current homeowner interested in refinancing your existing mortgage, we will find the loan that is perfect for you. We offer an extensive line of mortgage products including FHA Loans, VA Loans, Conventional Loans, USDA Loans, and much more. As both a broker and a lender, we have access to other lender's loan programs so even if ours is not the best fit for you, we can find the loan that is.
Services
Our family at Mortgage Team 1 is committed to providing our clients with the highest quality financial services. Our professional Mortgage Planners will work with you one on one to ensure that you get a financial plan that is tailored specifically to meet your mortgage needs. Whether you are purchasing your dream home, refinancing an outstanding loan, or consolidating debt, Mortgage Team 1 can help you plan and understand the right loan program.
Amortization-A repayment method in which the amount you borrow is repaid gradually though regular monthly payments of principal and interest. During the first few years, most of each payment is applied toward the interest owed. During the final years of the loan, payment amounts are applied almost exclusively to the remaining principal.
An ARM is a mortgage with an interest rate that may vary over the term of the loan - usually in response to changes in the prime rate or Treasury Bill rate. The purpose of the interest rate adjustment is primarily to bring the interest rate on the mortgage in line with market rates. Mortgage holders are protected by a ceiling, or maximum interest rate, which can be reset annually.
Borrows often lock into 3 to 10 years of fixed rate payments before the initial interest rate change. At the end of the fixed period, the interest rate adjusts annually. Fixed-period ARMs are typically tied to the one-year Treasury securities index: 3/1, 5/1, 7/1 and 10/1. ARMs with an initial fixed period beside of lifetime and adjustment caps usually have also first adjustment cap.
Many of today's popular home loans such as FHA loans and VA loans are backed by government agencies. Government-backed loans are often tailored to buyers who do not have perfect credit or who have limited down payment availability. They are also restricted to certain loan amounts depending on the program.
Reviews (11)
San Richards
Oct 25, 2021
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I used Mortgage Team 1 for my initial purchase and my refinance. They were able to get me an awesome deal both times. I highly recommend this team. They will work hard in your favor. You will be surprised to find out what you will qualify for with their help. Jamie, Anastasia, and Andrea will be happy to guide you on your home purchase journey.
Nikki P.
Oct 02, 2021
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Octavia Jones
May 18, 2021
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Donald Barnette
Mar 29, 2021
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Brittany Girardeau
Mar 10, 2021
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Jamie and her team are all amazing to work with. I am not the easiest client, but they always took care of my husband and I. We had a tight deadline of when we had to move and they made sure they did everything possible to make that happen for us! I would 100% recommend Mortgage Team 1 to anyone and everyone that is looking to buy a home!
Valarie Richardson
Feb 07, 2021
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Sarah Taylor
Jan 20, 2021
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Nedra George
Oct 22, 2020
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Annastasia Etheredge
Aug 19, 2020
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Mallory Wolf
Jul 24, 2020
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Jennifer Fox
May 09, 2020
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Jamie and her team at Mortgage Team 1are extremely efficient and informative. My husband and I were in the market for a new home and Jamie was recommended to us by our daughter and son-in-law as a mortgage broker. They were very well-satisfied with their own experience. Jamie and her team had us pre-approved quickly and painlessly. She quoted a closing date within a month and had it ready two days prior to that date. The members of Mortgage Team 1 are always ready to answer questions no matter what day of the week it is. We have recommended Jamie and the Mortgage Team 1 group to our son and recommend
