The Best Mortgage Lenders in Hagerhill, KY
Compare verified mortgage lenders serving Hagerhill, Kentucky. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hagerhill
Featured Mortgage Lenders
Mortgage Department
Peoples Bank & Trust Co.
Peoples Bank & Trust Co. is a highly-rated community bank with deep roots in Eastern Kentucky, serving Hagerhill and surrounding areas for over 50 years. They maintain exceptional 4.8-star ratings across multiple review platforms with customers praising their personalized service, local decision-making, and competitive rates. As a community-focused institution, they specialize in understanding the unique needs of rural Kentucky homeowners and offer comprehensive mortgage solutions including USDA loans perfect for Hagerhill's rural character.
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Mortgage Lending Division
Community Trust Bank
Community Trust Bank has been serving Eastern Kentucky communities including Hagerhill for over 120 years, with their mortgage division earning consistent 4.7-star ratings for exceptional service. They're particularly noted for their expertise in rural property financing and first-time homebuyer programs. Customers frequently highlight their responsive loan officers, streamlined application process, and competitive closing costs. Their extensive branch network throughout the region ensures personalized, local service for Hagerhill residents.
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Mortgage Services
Guild Mortgage Company - Ashland Branch
Guild Mortgage's Ashland branch serves the Hagerhill area with national resources and local expertise, maintaining strong 4.6-star ratings for their mortgage services. They're particularly recognized for their diverse loan portfolio and flexible underwriting, making them an excellent choice for various borrower profiles. Reviewers consistently praise their knowledgeable loan officers, efficient closing processes, and excellent communication throughout the loan journey. Their specialization in both government-backed and conventional loans provides comprehensive options for Hagerhill homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Hagerhill, KY
What are the current mortgage rates like for homes in Hagerhill, KY?
Mortgage rates in Hagerhill typically align with national averages but can be slightly higher due to the rural nature of Johnson County. As of late 2023, rates for 30-year fixed mortgages generally range between 6.5-7.5%, though this varies by lender and borrower qualifications. Local credit unions like Citizens National Bank often offer competitive rates for area residents.
Are there any first-time homebuyer programs specifically available in Hagerhill?
Yes, Hagerhill residents can access Kentucky Housing Corporation (KHC) programs, which offer down payment assistance and competitive interest rates. The KHC's "Regular Loan Program" provides 30-year fixed-rate financing with down payment assistance up to $6,000 for eligible buyers. These programs are particularly valuable in Hagerhill's affordable housing market.
How does Hagerhill's rural location affect the mortgage approval process?
Hagerhill's rural classification can impact appraisals, as comparable properties may be limited and farther apart. Lenders might require additional documentation to verify property values in this market. USDA loans are particularly advantageous here since most of Hagerhill qualifies for USDA rural development loans requiring no down payment.
What types of properties typically qualify for mortgages in Hagerhill?
Most Hagerhill mortgages finance single-family homes, manufactured homes on permanent foundations, and some multi-family properties. Given the area's rural character, lenders are generally familiar with financing properties on larger lots and with septic systems rather than city utilities. However, unique rural properties might require specialized lenders.
Are there local property tax considerations I should know about when getting a mortgage in Hagerhill?
Johnson County property taxes are relatively low compared to national averages, currently around 0.82% of assessed value. Your mortgage lender will typically escrow for these taxes, but it's important to note that property assessments in this rural area may not increase as rapidly as in urban markets, keeping escrow payments stable.
Nearby Cities
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Why Choose a Mortgage Lender in Hagerhill?
Local Market Knowledge
Lenders who understand Hagerhill'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 Hagerhill and get competitive rates on your home loan.