What company can you expect to be doing business with for the long haul?
Your mortgage lender.
Most mortgages are issued for 30 years (though there are longer and shorter options) so expect to be with your lender for a while.
Thus, you should carefully shop for a mortgage lender. Talk to a few lenders and compare rates, but don’t get too hung up on the numbers. The most important quality you want to be looking for is customer service. At the end of the day, most lenders will offer you pretty much the same thing as far as loans go, but their levels of customer satisfaction may be quite different.
What if you find a lender you love, but their loan comes with an interest rate that is slightly higher than you’d like? Team up with a Clever Partner Agent. They’ll give you a $1,000 Home Buyer Rebate at closing on homes that sell for over $150,000 or up to 1% on homes over $500,000. You can use that rebate to buy mortgage points and get that rate down where you want it.
Still looking for a lender? Check out the five best mortgage companies in Louisville, Kentucky.
1. BB&T Home Mortgage
BB&T Home Mortgage is not a national lender but has a strong presence in the southeast. Their suite of online tools is complete so you can handle everything online. Of course, you can always go into one of their 2,249 financial centers for face-to-face treatment.
They offer a wide variety of loan products, including construction loans. They also offer low down payment options for low to middle-income buyers. To qualify you may have to take a home buyer education course. You can also enjoy the plethora of resources and educational information they provide on their site.
2. Caliber Home Loans
Caliber Home Loans provides a full array of loan products. They offer government loans as well as a selection of conventional loans, including low down payment options. They place a special emphasis on working with VA loans and military members.
The company is technologically up to date and you can do most things online. However, you will need to work with a loan officer to finish pre-qualifications and pre-approvals. Additionally, if you prefer dealing with a person it’s easy to get someone on the phone. With hundreds of locations, it’s quite possible there is one near you.
3. Fairway Independent Mortgage
Looking to close quickly? Fairway Independent Mortgage has an amazing app that allows buyers to close on a loan in as little as 10 days. You can also use the app to find a loan officer, calculate monthly payments, apply for the loan and even scan and upload documents.
They offer plenty of conventional and government loan options as well as construction loans and reverse mortgages.
4. Churchill Mortgage
If you like Dave Ramsey and his debt-free philosophy, then Churchill Mortgage is a good option for you. This company has been heavily influenced by the popular financial speaker. Their goal is to help you move toward debt-free homeownership.
They offer a full suite of conventional and government-backed loans. They’d like a minimum credit score of 620 but are flexible. If your score is low, or if you don’t have a score, you still may be able to qualify using alternative data.
A loan with PrimeLending comes with an extra helping of Southern hospitality. The company started up in Texas, but there are plenty of locations in other states (ahem, Kentucky) as well.
They offer the usual fare when it comes to conventional and government loans, with one notable exception — their NeighborhoodEdge program. This program offers up to $2,000 in closing cost credits to qualifying low and moderate-income buyers.
Finding the Right Lender
All of these lenders are approved by the Kentucky Housing Corporation and will work with the KHC’s mortgage tax credits and down payment assistance programs. This is helpful, particularly for first-time home buyers.
Plus, some have their own forms of assistance as well. That is why shopping around is useful to find the best deal for your situation.
However, don’t forget that the number one thing you should be watching out for is customer service. If possible, talk to current customers and find out their satisfaction level with the company. Your real estate agent deals professionally with a lot of lenders, making them an excellent resource as well.
To get the best real estate agent on your side, we recommend a Clever Partner Agent. We only partner with the top agents in an area who will 100% have your best interests in mind. One of our Partner Agents will be able to help you find the perfect home within the requirements of the loan you qualify for. They will never push you to buy something that is out of your budget.
Ready to get in touch? Contact us today!