I specialize in Kentucky First Time Homebuyers FHA, VA, USDA & Rural Housing, KHC and Fannie Mae mortgage loans. I have helped over 900 Kentucky families buy their first home and refinance their current mortgage for a lower rate; Kentucky First time buyers $0 down still available with down payment assistance with KHC. Free Mortgage applications same day approvals. Web site is not endorsed by the FHA, VA, USDA govt agency. Text/call 502-905-3708 kentuckyloan@gmail.com NMLS 57916 NMLS ID 1364
Kentucky Mortgage Rates Today for 30 year fixed rate FHA, VA, USDA Mortgage Home Loans
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
Key ways to get your best rate possible on your Kentucky Home loan
Kentucky Mortgage Rates
Key ways to get your best rate possible on your Kentucky Home loan.png "Kentucky Mortgage Rates FHA, VA, USDA and KHC")
Historically speaking, current mortgage rates are pretty average.
But considering all the other factors involved in our post-pandemic housing market, many people are struggling to afford a home.
- Improve your credit score by paying down your debt and making all payments on time
- Consider all your loan options, including your term length and fixed rate vs. adjustable-rate mortgages
- Shop around for a lender and compare rates and terms
These key factors can mean the difference in paying thousands of dollars extra over the life of your loan.
It all depends on your unique situation.
Best loan options for borrowers in today’s market
- Conventional purchase — best for borrowers with a high credit score
- FHA loan — best for first-time borrowers with more flexible credit requirements
- VA loan — potential for zero down for active-duty military personnel, veterans, and eligible surviving spouses
- USDA loan — potential for zero down for for borrowers in rural areas who have moderate to low incomes
- Bank statement loan — for self-employed individuals
- KHC Loan --Down payment Assistance Grant for Zero Down Home Loans
How much home can you afford?
Let’s demystify the mortgage process.
Here are three common models lenders use to calculate how much of your income should go toward your monthly mortgage payment:
- 28/36 rule: Your max monthly mortgage payment can’t exceed 28% of your gross monthly income, and your mortgage plus other monthly debts cannot exceed 36%
Beyond your debts, lenders will evaluate your income, employment history, and credit score.
That's how to get the lowest mortgage rate possible for your borrower scenario.
What about getting the lowest monthly mortgage payment possible?
- Boost your credit score
- Make a larger down payment
- Choose a more affordable home
- Shop around for the best mortgage rate
Discounted Mortgage Rate 6% 30 year fixed rate loan. ***
Exciting News! KHC is thrilled to reintroduce its MRB program, now featuring an interest rate of 6%!
BONUS!!! Add $10,000 in down payment assistance to this amazing program for a power move!Eligibility requirements for the programs do apply, so reach out to us today for more information. Call or Message us now and seize the moment!
***Subject to Credit Qualifying Criteria and subject to change.
(1) The above rate quote has the following assumptions: $200,000 purchase; $194,000 loan amount; 0% down payment; 620 FICO credit score; property is SFR; borrower has sufficient income and assets to qualify; Tax and insurance impounds required; Estimated closing costs affecting the 6.375% APR include all standard fees. Monthly payment without taxes and insurance is $1,481.00. Rate and Annual Percentage Rate shown as of 02/01/2024, subject to change.
Joel Lobb
Mortgage Loan Officer
Individual NMLS ID #57916
American Mortgage Solutions, Inc.
10602 Timberwood Circle
Louisville, KY 40223
Company NMLS ID #1364
Text/call: 502-905-3708
email: kentuckyloan@gmail.com
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
What effects your Kentucky Mortgage Rate for FHA, VA, USDA and Conventional Mortgage Loans?
What Affects Your Interest Rate for a home loan in Kentucky?
There are really four key factors that will influence rates on your mortgage loan in Kentucky:
The market, your financial situation, the type of Kentucky Mortgage loan (FHA, VA, USDA Conventional), and the loan structure.
The Market for Kentucky Mortgage Rates
Mortgage Backed Security prices directly impact interest rates. Mortgage backed securities or mortgage
bonds are a market just like the stock market. So, when economic news affects these mortgage bond
prices, home loan rates are directly influenced. One of the biggest influencers of this market is
inflation. Inflation or even expectations of inflation will negatively impact mortgage bond prices and
ultimately increase rates on your home loan in Kentucky
Financial Situation For Your Kentucky Mortgage Rate
Income –
Your income gives you the ability to make
your monthly mortgage payments. Generally,
lenders require applicants to have a two-year stable
employment history. Applicants who have been at
their job for a shorter period of time should be in the
same field.
Savings –
Your savings enable you to pay for the
upfront costs associated with purchasing a home.
These include the down payment, closing costs and
cash reserves.
Debts –
The amount of debt you have will impact your
debt to income ratio. Debt payments consist of car
payments, student loans, alimony, required payments
on installment loans and required payments on credit
cards. They do not include rent, utility bills, mortgage
payments for loans being paid off, or payments on
credit card balances that you pay in full at the end of
the month. Lenders look at debt to income ratios to
determine how much home you can buy.
Credit and Credit Score
– If you want to be eligible for
the best mortgage rates, you will need to maintain a
credit score of 760 and above middle score of the
Mortgage Fico Scores lenders pull through Equifax, Experian and Transunion
Not only will this excellent
score motivate the lender to lower your rates to get
you as a customer, you will have more choices about
which mortgages are available to you. Your overall
payment history on the debts you have can also impact
your ability to qualify for certain types of loans, which
can affect your interest rate.
Type of Kentucky Mortgage Loan & Loan Structure
Loan Type
– The type of loan will impact the rate
you can expect. There are many types of loans Kentucky Mortgage Loans.
Conventional, FHA, VA, USDA, and Jumbo loans
can all have different rates.
Occupancy
– The best mortgage rates are
typically offered if you are purchasing a property
that is intended to be occupied as your primary
residence. Rates for second homes and investment
properties are typically higher.
Duration
– The duration of the loan can affect
mortgage rates. A shorter loan period will usually
equate to a lower mortgage rate and a longer loan
will typically have higher rates.
Down Payment –
A larger down payment can
impact interest rates. Putting more down will
decrease the risk for a lender and can improve
your interest rate. If you put less than twenty
percent down, certain types of loans require
mortgage insurance and this can also impact the
interest rates available.
Discount Points –
In order to get a lower rate
some clients choose to pay discount points.
Basically, discount points are percentages of the
loan amount paid in cash at closing in order to
lower a rate.
Lock Term –
The length of time you need to lock
in your rate can impact your rate. Typically, longer
term rates are more expensive.
Mortgage Loan Officer
email: kentuckyloan@gmail.com
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
Kentucky Mortgage Rates
Due to Volatility in the current mortgage market, mortgage rates are currently not being posted.
Please call for a mortgage rate quote.
Mortgage Loan Officer
email: kentuckyloan@gmail.com
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
Louisville Ky Mortgage Rates
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.
Louisville KentuckyHome Mortgage Loans: Mortgage Refinance Tips
Joel Lobb (NMLS#57916)Senior Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com
Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process.
I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues.
You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.