The metro areas of Louisville and Lexington have seen home prices remain steady, even as more houses come onto the market. But even with low rates and a relatively bright future for housing appreciation, you still need to protect yourself from fraudulent lenders. These three tips will help you identify the lowest costing mortgage with the best service.’
1. Competitive Rates For Kentucky Properties
Mortgage rates for Kentucky properties don’t always match nationally quoted
rates. cerco socio Lenders opinions on the area’s future job market and property values, along with your own credit score, will affect your quoted rate. For example, in the September 2006, 30 year mortgage rates were about .15% lower than the national average. To get the most accurate and competitive rates, make sure you mention the location of your new home. Also, include specifics on your financial standing, enabling you to qualify for the best available home loan.
2. Easy Application Process
Most mortgage companies have made the application and paperwork process easier by allowing for online applications. So you aren’t restricted by the lack of local bank offices in your area. Your information can be entered online, with final paperwork sent through the mail. Online lenders also give you the option of getting pre-approved for your home loan. That way you know ahead of time what your monthly payment could be and what you can afford. It also allows you to act quickly when you find that perfect house.
3. Customer Service On Your Terms
As important as low rates and fees are with a mortgage, be sure you find a lender that is easy to get contact. You should be able to get in contact with a customer service representative through phone, email, or in person.