The Best Mortgage Lenders in Paris, KY
Compare verified mortgage lenders serving Paris, Kentucky. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Paris
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a highly-rated national mortgage lender with a strong local presence in the Lexington area, serving Paris, KY clients with competitive rates and exceptional customer service. They are known for their digital mortgage process, wide range of loan options, and consistently high customer satisfaction scores, making them a top choice for homebuyers in the region.
Loan Types:
New American Funding
New American Funding
New American Funding is renowned for its diverse loan products and commitment to inclusive lending, with a strong track record in Kentucky. They receive high marks for personalized service, efficient loan processing, and competitive rates, particularly benefiting first-time homebuyers and those in the Paris area seeking flexible mortgage solutions.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage has built an excellent reputation for its local expertise and customer-centric approach, serving Paris, KY through their Lexington office. They are praised for their wide array of mortgage options, fast closings, and high customer satisfaction, with numerous reviews highlighting their ability to handle unique lending situations in rural and suburban markets.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Paris, KY
What are the current average mortgage rates for homebuyers in Paris, KY?
Mortgage rates in Paris typically align with national averages but can vary based on local lenders and property types. Currently, 30-year fixed rates hover around 6.5-7% for qualified buyers, while FHA and VA loans may offer slightly lower rates. It's best to check with local Paris lenders like First National Bank of Paris or Community Trust Bank for the most accurate, personalized rates.
Are there any first-time homebuyer programs specifically available in Paris, KY?
Yes, Paris homebuyers can access Kentucky Housing Corporation (KHC) programs offering down payment assistance and competitive interest rates. Additionally, some local lenders provide special first-time buyer incentives, and Bourbon County may offer occasional grants for historic district properties. These programs are particularly valuable given Paris's affordable median home prices compared to larger Kentucky cities.
How does Paris's historic district affect mortgage lending requirements?
Purchasing in Paris's designated historic district may require additional inspections and potentially higher insurance costs, which lenders will factor into loan approval. Some properties might need specialized renovation loans like FHA 203(k) if updates are required. However, historic preservation tax credits available through Kentucky programs can offset some of these additional costs for qualified buyers.
What unique closing costs should I expect when buying a home in Paris, KY?
Beyond standard closing costs, Paris homebuyers should budget for Bourbon County transfer taxes, typically around $0.50 per $500 of sale price. You'll also encounter local recording fees and potentially higher title insurance costs due to Kentucky's unique title examination requirements. Some rural properties may require additional well and septic inspections not covered in standard appraisals.
How does Paris's rural location impact mortgage options and lender availability?
While Paris is rural, multiple local and regional lenders serve the area, though you'll find fewer national bank branches. USDA loans are particularly relevant here, offering 100% financing for eligible properties in designated rural areas. Agricultural and larger land parcels may require specialized farm loans rather than conventional residential mortgages, so working with lenders familiar with Bourbon County's property types is crucial.
Nearby Cities
Explore mortgage lenders in cities near Paris, KY
Why Choose a Mortgage Lender in Paris?
Local Market Knowledge
Lenders who understand Paris'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 Paris and get competitive rates on your home loan.