The Best Mortgage Lenders in Combs, KY
Compare verified mortgage lenders serving Combs, Kentucky. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Combs
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 Kentucky. They specialize in a wide range of loan products and have consistently high ratings due to their personalized approach, efficient processing, and dedication to community involvement. Serving Combs and surrounding areas through local loan officers and online services, they are praised for their reliability and transparency in the mortgage process.
Loan Types:
New American Funding
New American Funding
New American Funding is a highly reputable lender with a focus on diversity and customer satisfaction, offering tailored mortgage solutions for homebuyers in Combs and Eastern Kentucky. They are recognized for their competitive rates, fast closings, and extensive educational resources. With a strong track record of serving underserved communities and high customer review scores, they provide excellent support through local branches and digital platforms.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized lender with a strong regional presence in Kentucky, known for its streamlined processes and commitment to community giving. They offer a variety of loan options with competitive rates and have earned high marks for their responsive customer service and efficient underwriting. Serving Combs through local loan officers and online tools, they are praised for making the mortgage experience straightforward and stress-free.
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Frequently Asked Questions
Common questions about mortgage lending in Combs, KY
What are the current average mortgage rates for homebuyers in Combs, KY?
Mortgage rates in Combs typically align with national averages but can be slightly higher due to the rural nature of the area and smaller local lending market. As of 2024, you can expect conventional 30-year fixed rates around 6.5-7% in Combs, though rates vary by lender and borrower qualifications. It's best to compare offers from both local Kentucky banks and national lenders for the most competitive rates.
Are there any first-time homebuyer programs specifically available in Combs, KY?
Yes, Combs residents can access Kentucky Housing Corporation (KHC) programs, which offer down payment assistance, competitive interest rates, and tax credits for qualifying first-time buyers. The KHC's "Regular Loan Program" is particularly popular in rural areas like Combs, providing up to 4% in down payment assistance that becomes a grant after 10 years of homeownership.
How does Combs' rural location affect the mortgage approval process?
Combs' rural designation can actually work to your advantage through USDA Rural Development loans, which offer 100% financing with no down payment required. However, appraisals may take longer due to fewer comparable properties, and some lenders might have stricter requirements for older homes common in this area. Working with lenders experienced in rural Kentucky properties is recommended.
What special considerations should I know about when getting a mortgage for a property in Combs' flood-prone areas?
Given Combs' location near the Kentucky River and surrounding creeks, flood insurance is often required for properties in designated flood zones. This additional cost must be factored into your debt-to-income ratio calculations. Your lender will order a flood certification, and if the property is in a high-risk zone, you'll need to secure flood insurance before closing.
Are there any local mortgage incentives for buying manufactured homes in Combs?
Yes, given the prevalence of manufactured housing in Combs, several local lenders offer specialized programs for these properties. However, the home must be permanently affixed to a foundation and meet HUD standards to qualify for conventional financing. Kentucky Housing Corporation also provides financing options for manufactured homes that meet their property requirements.
Why Choose a Mortgage Lender in Combs?
Local Market Knowledge
Lenders who understand Combs'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 Combs and get competitive rates on your home loan.