The Best Mortgage Lenders in Hickory, KY
Compare verified mortgage lenders serving Hickory, Kentucky. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hickory
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with over 28 years of experience, known for exceptional customer service and competitive rates. They specialize in a wide range of loan products and have a strong local presence in western Kentucky, including dedicated loan officers serving Hickory. Their high ratings stem from personalized service, fast processing times, and community involvement.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly regarded for its efficient processing and commitment to homebuyer education. With 16 years in business, they offer tailored loan solutions and have loan officers actively serving the Hickory area. Their reputation is built on transparency, competitive rates, and strong customer satisfaction, making them a reliable choice for mortgages in western Kentucky.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate combines digital convenience with local expertise, offering competitive rates and a seamless mortgage experience. Founded in 2000, they have a proven track record in Kentucky, including service to Hickory residents. Their high ratings reflect a focus on innovation, customer support, and a broad array of loan options, ensuring clients receive reliable and efficient financing solutions.
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Frequently Asked Questions
Common questions about mortgage lending in Hickory, KY
What are the current average mortgage rates for homebuyers in Hickory, KY?
Mortgage rates in Hickory typically align with national averages but can vary based on local lenders. As of 2024, you can expect conventional 30-year fixed rates around 6.5-7% in the Hickory area. It's best to check with local banks and credit unions like Forcht Bank or Community Trust Bank for the most current Hickory-specific rates.
Are there any first-time homebuyer programs specifically available in Hickory, KY?
Yes, Hickory residents can access Kentucky Housing Corporation (KHC) programs that offer down payment assistance and competitive interest rates. Additionally, some local lenders may offer special first-time buyer programs with lower down payment requirements. These programs are particularly valuable given Hickory's affordable housing market compared to larger Kentucky cities.
How does Hickory's rural location affect the mortgage approval process?
Hickory's rural classification can impact appraisals and property eligibility for certain loan programs. USDA loans are particularly popular here since Hickory qualifies for USDA rural development loans, which offer 100% financing. However, you may need appraisers who specialize in rural properties and understand local market values in Graves County.
What types of properties are most common in Hickory's mortgage market?
Hickory's mortgage market primarily consists of single-family homes on larger lots and some manufactured homes. Traditional mortgages work well for site-built homes, while manufactured homes may require specialized financing. Given the area's agricultural character, you'll find many properties with additional acreage, which can affect loan-to-value ratios.
Are there local property tax considerations I should know about when getting a mortgage in Hickory?
Graves County property taxes are relatively low compared to urban areas in Kentucky, typically around 0.85% of assessed value. Your mortgage lender will factor these taxes into your escrow calculations. It's important to note that agricultural land may have different tax assessments, which could affect your overall housing payment.
Why Choose a Mortgage Lender in Hickory?
Local Market Knowledge
Lenders who understand Hickory'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 Hickory and get competitive rates on your home loan.