The Best Mortgage Lenders in Bevinsville, KY
Compare verified mortgage lenders serving Bevinsville, Kentucky. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Bevinsville
Featured Mortgage Lenders
Community Trust Bank Mortgage Department
Community Trust Bank
Community Trust Bank is one of Eastern Kentucky's most established and highly-rated mortgage lenders with deep roots in the region. While headquartered in Pikeville, they have multiple branches throughout Floyd County and specifically serve the Bevinsville area. They offer personalized service with local decision-making and understand the unique needs of Eastern Kentucky homeowners. Their mortgage team has extensive experience with rural properties, USDA loans, and first-time homebuyer programs. Customers consistently praise their competitive rates, transparent process, and commitment to the local community.
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Members Heritage Credit Union Mortgage Services
Members Heritage Credit Union
Members Heritage Credit Union has been serving Eastern Kentucky residents for decades and is particularly strong in mortgage lending for the Bevinsville area. As a credit union, they offer competitive rates and personalized service with a member-focused approach. Their mortgage specialists are experienced with rural properties and government-backed loans that are common in Floyd County. They provide comprehensive pre-approval services and work closely with local real estate agents. Members appreciate their low closing costs, flexible terms, and commitment to helping Eastern Kentucky families achieve homeownership.
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Mortgage Masters of Kentucky
Mortgage Masters of Kentucky, LLC
Mortgage Masters of Kentucky is a highly-specialized mortgage brokerage serving Eastern Kentucky with exceptional customer satisfaction ratings. While based in Pikeville, they actively work with clients throughout Floyd County including Bevinsville. Their team has deep knowledge of the local real estate market and specializes in navigating the unique challenges of rural property financing. They offer access to multiple lending partners to find the best rates and terms for each borrower's situation. Customers consistently highlight their responsive communication, expertise with USDA and VA loans, and ability to close loans efficiently in the Eastern Kentucky market.
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Frequently Asked Questions
Common questions about mortgage lending in Bevinsville, KY
What are the current average mortgage rates for homebuyers in Bevinsville, KY?
Mortgage rates in Bevinsville typically align with national averages but can be slightly lower due to the rural nature of Floyd County. As of recent data, 30-year fixed rates hover around 6.5-7%, though local lenders like Community Trust Bank or Peoples Bank may offer competitive regional rates. It's best to get quotes from multiple local institutions as they often have special programs for area residents.
Are there any first-time homebuyer programs specifically available in Bevinsville?
Yes, Bevinsville residents can access Kentucky Housing Corporation (KHC) programs, which offer down payment assistance and competitive interest rates. Additionally, some local lenders provide special financing options for first-time buyers in Floyd County. These programs are particularly valuable given Bevinsville's moderate income levels and can help with the typically required 3-5% down payment.
How does Bevinsville's rural location affect the mortgage approval process?
Bevinsville's rural classification can work to your advantage through USDA Rural Development loans, which offer 100% financing with no down payment required. However, appraisals may take slightly longer as comparable properties might be farther apart. Local lenders familiar with Floyd County's property values can help navigate these unique aspects more efficiently than national banks.
What special considerations should I know about property taxes and insurance for Bevinsville homes?
Floyd County property taxes are relatively low compared to urban Kentucky areas, typically around 0.8-1.0% of assessed value. However, due to Bevinsville's mountainous terrain and floodplain areas, you may need additional flood insurance, which can affect your total monthly payment. Your lender should help identify if the property requires this additional coverage.
Are there local mortgage lenders in Bevinsville who understand the area's unique housing market?
Yes, several community banks and credit unions with branches in nearby Prestonsburg or Pikeville have extensive experience with Bevinsville's housing market. Institutions like Community Trust Bank and Members Heritage Credit Union understand the local economy, property values, and can often provide more personalized service than national lenders, which is valuable in this tight-knit community.
Why Choose a Mortgage Lender in Bevinsville?
Local Market Knowledge
Lenders who understand Bevinsville'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 Bevinsville and get competitive rates on your home loan.