The Best Mortgage Lenders in Isonville, KY
Compare verified mortgage lenders serving Isonville, Kentucky. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Isonville
Featured Mortgage Lenders
Community Trust Bank Mortgage Department
Community Trust Bank, Inc.
Community Trust Bank stands as one of Eastern Kentucky's most trusted mortgage lenders with over a century of community banking experience. While headquartered in Pikeville, they maintain a strong presence throughout the region with multiple branches serving Elliott County and Isonville residents. Their mortgage team specializes in rural property financing and offers personalized service with local decision-making. Customers consistently praise their competitive rates, knowledgeable loan officers who understand mountain property challenges, and seamless closing processes. As a community-focused institution, they excel at helping borrowers navigate USDA rural development loans and other programs ideal for Isonville homebuyers.
Loan Types:
Peoples Bank & Trust Company Mortgage Division
Peoples Bank & Trust Company of Hazard
With deep roots in Eastern Kentucky, Peoples Bank & Trust has been serving mountain communities for over a century. Their mortgage department has particular expertise with rural properties, land financing, and government-backed loans that work well for Isonville's market. The bank receives outstanding reviews for their personalized approach, with loan officers who take time to understand each borrower's unique situation and property needs. They're known for competitive rates on construction loans and their ability to finance properties that larger national lenders might decline. Their local underwriting and decision-making process ensures faster closings and more flexible terms for Elliott County homebuyers.
Loan Types:
Mortgage Masters of Kentucky
Mortgage Masters of Kentucky, LLC
Mortgage Masters has built an exceptional reputation throughout Eastern Kentucky as a dedicated mortgage brokerage serving rural communities. While based in Pikeville, they actively work with borrowers across Elliott County and specifically understand the unique property considerations in areas like Isonville. They consistently earn near-perfect ratings for their educational approach, transparent communication, and ability to secure favorable terms for buyers of manufactured homes, rural properties, and mountain land. Their brokers have extensive experience with USDA rural development loans and work with multiple lenders to find the best possible solutions for each client's financial situation and property type.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Isonville, KY
What are the current average mortgage rates for homebuyers in Isonville, KY?
Mortgage rates in Isonville typically run slightly below national averages due to the rural nature of Elliott County and lower cost of living. As of 2024, you can expect conventional 30-year fixed rates around 6.25-6.75%, though rates vary by lender and borrower qualifications. Local credit unions like Members Heritage often offer competitive rates for Isonville residents.
Are there any special loan programs for first-time homebuyers in Isonville?
Yes, Isonville homebuyers can access Kentucky Housing Corporation (KHC) programs offering down payment assistance and competitive rates. The "Regular Loan Program" provides 30-year fixed-rate financing with down payment assistance up to $6,000 for eligible buyers. Given Isonville's rural location, USDA loans are also popular as they require no down payment for qualified borrowers in this designated rural area.
How does Isonville's rural location affect the mortgage process?
Isonville's rural setting in Elliott County means some national lenders may have limited local presence, but community banks and credit unions provide excellent service. Property appraisals might take slightly longer as appraisers often travel from larger areas like Morehead or Ashland. USDA loans are particularly advantageous here since the entire county qualifies for rural development programs.
What should I know about property taxes and insurance when getting a mortgage in Isonville?
Elliott County has some of Kentucky's lowest property tax rates, typically around 0.75% of assessed value. Homeowners insurance costs are generally affordable due to Isonville's low risk profile, though you'll want to account for potential flood insurance if purchasing near Tygarts Creek or other waterways. These lower costs can help improve your debt-to-income ratio for mortgage qualification.
Are there any local grants or assistance programs specific to Isonville homebuyers?
While Isonville itself doesn't have city-specific programs, Elliott County residents can access the Kentucky Down Payment Assistance Program which provides up to $10,000 in down payment and closing cost help. Additionally, the USDA Section 502 Direct Loan Program offers below-market interest rates and payment assistance to very low and low-income households in this rural community.
Why Choose a Mortgage Lender in Isonville?
Local Market Knowledge
Lenders who understand Isonville'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 Isonville and get competitive rates on your home loan.