The Best Mortgage Lenders in Beverly, KY
Compare verified mortgage lenders serving Beverly, Kentucky. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Beverly
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender known for its exceptional customer service and competitive rates, with a strong presence in rural Kentucky areas like Beverly. Founded in 1996, it has built a reputation for reliability and personalized service, specializing in USDA loans which are ideal for rural homebuyers. With hundreds of positive reviews highlighting smooth processes and responsive support, it's a trusted choice for mortgages in the region.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly regarded for its fast closings and community-focused approach, serving Beverly and surrounding areas with a range of affordable loan options. Established in 2008, it combines technology with personal service to streamline the mortgage process, earning high marks for customer satisfaction. Its emphasis on local outreach and competitive rates makes it a popular choice for Kentucky homebuyers.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate offers a digital-first mortgage experience with competitive rates and a wide array of loan products, effectively serving Beverly through its regional offices. Founded in 2000, it has a strong track record for transparency and efficiency, backed by numerous customer reviews praising its easy online tools and knowledgeable staff. Its national reach with local support ensures reliable service for Kentucky residents.
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Frequently Asked Questions
Common questions about mortgage lending in Beverly, KY
What are the current mortgage rates like in Beverly, KY, and how do they compare to state averages?
Mortgage rates in Beverly typically align closely with Kentucky state averages, often slightly lower than national rates due to the rural market. As of recent data, 30-year fixed rates in the area generally range from 6.5% to 7%, but it's essential to check with local lenders like Community Trust Bank or local credit unions for the most current offers, as they can vary based on property type and borrower qualifications.
Are there any first-time homebuyer programs available specifically for Beverly residents?
Yes, Beverly homebuyers can access Kentucky Housing Corporation (KHC) programs, which offer down payment assistance, competitive interest rates, and tax credits. Additionally, some local lenders may provide special first-time buyer loans with lower down payment requirements, tailored to the moderate-income demographics common in the Beverly area.
How does the rural nature of Beverly affect the mortgage appraisal process?
Due to Beverly's rural setting and limited comparable home sales, appraisals can take longer and may require appraisers familiar with the local market. Lenders often work with appraisers from nearby counties like Nicholas or Fleming to ensure accurate valuations, but buyers should anticipate potential delays and ensure their lender has experience with rural properties.
What types of properties in Beverly are eligible for USDA loans, and how can I qualify?
Most properties in Beverly and surrounding Nicholas County are eligible for USDA loans, which offer 100% financing, as the area is designated rural by the USDA. To qualify, borrowers must meet income limits (which are generous for the area), demonstrate stable income, and use the home as their primary residence, making it an excellent option for many local buyers.
Are there any local or state property tax incentives for homebuyers in Beverly that could affect my mortgage?
Kentucky offers a homestead exemption for residents 65 and older or totally disabled, which can reduce property tax burdens in Beverly. While this doesn't directly lower your mortgage payment, it reduces overall housing costs. First-time homebuyers should also inquire about Kentucky's Mortgage Credit Certificate (MCC) program, which can provide a federal tax credit based on mortgage interest paid.
Why Choose a Mortgage Lender in Beverly?
Local Market Knowledge
Lenders who understand Beverly's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Kentucky.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Beverly and get competitive rates on your home loan.