The Best Mortgage Lenders in Frankfort, KY
Compare verified mortgage lenders serving Frankfort, Kentucky. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Frankfort
Featured Mortgage Lenders
Brad Forbes
Forbes & Company Mortgage
Forbes & Company Mortgage is a highly respected local Frankfort mortgage broker with exceptional customer satisfaction ratings. As a long-standing family-owned business operating since 1999, they have built a strong reputation for personalized service and competitive rates. Specializing in all major loan types including government-backed programs, they're known for their deep knowledge of the central Kentucky housing market and commitment to guiding clients through the entire mortgage process with transparency and expertise.
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Republic Bank Mortgage Team
Republic Bank & Trust Company
Republic Bank & Trust Company is a well-established Kentucky-based financial institution with a strong mortgage division that serves the Frankfort area. With over four decades of banking experience, they offer comprehensive mortgage solutions including construction loans and specialized programs for Kentucky homebuyers. Their local underwriting and decision-making process, combined with competitive rates and extensive branch network throughout central Kentucky, makes them a top choice for borrowers seeking reliable regional banking services.
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Churchill Mortgage Frankfort
Churchill Mortgage Corporation
Churchill Mortgage has built a strong reputation throughout Kentucky with dedicated local loan officers serving the Frankfort area. Founded in 1992, this national lender maintains a personalized approach with local expertise, particularly strong in VA and FHA lending. They're known for their educational approach to home financing, transparent process, and commitment to ensuring borrowers understand all aspects of their mortgage options. Their long track record and extensive experience with Kentucky's unique housing markets make them a trusted choice for Frankfort homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Frankfort, KY
What are the current average mortgage rates for homebuyers in Frankfort, KY?
Mortgage rates in Frankfort typically align with national averages but can vary based on local lenders and property types. As of recent data, 30-year fixed rates in Frankfort generally range between 6.5-7.25%, though rates for historic properties in districts like Downtown Frankfort may be slightly higher due to specialized insurance requirements. It's best to compare offers from local credit unions like Forcht Bank and Community Trust Bank alongside national lenders.
Are there any special mortgage programs for first-time homebuyers in Frankfort?
Yes, Frankfort homebuyers can access the Kentucky Housing Corporation (KHC) programs, which offer down payment assistance and competitive rates. The "Regular Loan Program" provides up to 4% in down payment assistance, particularly beneficial for buyers targeting Frankfort's more affordable neighborhoods like Bellepoint or Indian Hills. Many local lenders are KHC-approved and can guide you through these options.
How does Frankfort's historic district status affect mortgage lending?
Purchasing in Frankfort's historic districts (like South Frankfort or Corner in Celebrities) may require specialized appraisals and potentially higher insurance costs. Lenders often require additional inspections for historic properties, and some may have stricter lending criteria. However, Kentucky offers historic preservation tax credits that can offset these costs, making historic homes financially attractive despite the extra steps.
What are the typical down payment requirements for Frankfort homes?
While conventional loans typically require 5-20% down, many Frankfort buyers utilize FHA loans with 3.5% down or VA loans with 0% down, popular given Frankfort's significant government employee population. For Frankfort's median home price around $200,000, this translates to $7,000-10,000 minimum down payment for most first-time buyers, though KHC programs can reduce this further.
How do Frankfort's property taxes impact mortgage payments?
Franklin County property taxes are relatively moderate at approximately 0.85% of assessed value annually. For a $200,000 Frankfort home, this adds roughly $1,700 yearly ($142 monthly) to your mortgage escrow payment. These taxes help fund Frankfort's excellent public services while remaining lower than many metropolitan areas, making homeownership more affordable long-term.
Why Choose a Mortgage Lender in Frankfort?
Local Market Knowledge
Lenders who understand Frankfort'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 Frankfort and get competitive rates on your home loan.