The Best Mortgage Lenders in Saul, KY
Compare verified mortgage lenders serving Saul, Kentucky. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Saul
Featured Mortgage Lenders
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender with a strong local presence in Eastern Kentucky, including Saul. Known for exceptional customer service and competitive rates, they offer personalized mortgage solutions with deep community knowledge. Their team provides expert guidance on various loan types, and they have consistently high ratings for reliability and customer satisfaction.
Loan Types:
Caliber Home Loans
Caliber Home Loans, Inc.
Caliber Home Loans is a reputable national lender with a dedicated team serving the Saul area through their Lexington branch. They are praised for flexible loan options, efficient processing, and strong customer support. With a focus on competitive rates and a smooth application process, they have built a solid reputation in Kentucky for helping homeowners achieve their financing goals.
Loan Types:
New American Funding
New American Funding
New American Funding is a highly rated lender that actively serves Saul and surrounding areas with a commitment to diversity and customer care. They offer a wide range of loan products and are known for their innovative technology and personalized service. Their team works closely with clients to find tailored mortgage solutions, backed by strong reviews for responsiveness and competitive rates.
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Frequently Asked Questions
Common questions about mortgage lending in Saul, KY
What are the current mortgage rates like for homes in Saul, KY?
Mortgage rates in Saul typically align with national averages but can be slightly lower due to the rural nature of the area and lower cost of living. As of late 2023, rates for 30-year fixed mortgages in Saul generally range between 6.5% and 7.25%, though individual rates depend heavily on credit score and down payment. Local lenders like Community Trust Bank and Forcht Bank often offer competitive rates specifically for Pulaski County residents.
Are there any first-time homebuyer programs specific to Saul, KY?
Yes, Kentucky Housing Corporation (KHC) offers several first-time homebuyer programs available to Saul residents, including down payment assistance and competitive interest rates. Additionally, some local lenders may offer special programs for teachers, healthcare workers, or other essential service employees in the Saul area. These programs can provide significant savings on closing costs and lower mortgage insurance requirements.
How does the rural location of Saul affect the mortgage approval process?
Saul's rural classification can impact mortgage approval through USDA loans, which are particularly advantageous here since 100% financing is available with no down payment required for eligible properties and borrowers. However, appraisals in rural areas like Saul may take longer as appraisers often need to travel from larger cities. Some lenders may also have stricter requirements for older farmhouses or properties on well and septic systems common in the area.
What types of properties in Saul typically qualify for USDA rural housing loans?
Most properties in Saul qualify for USDA loans since the entire area is designated as rural by USDA standards. This includes single-family homes, manufactured homes (if permanently affixed and meeting HUD standards), and condos in eligible areas. The property must be located within USDA-defined rural areas, which encompasses all of Saul, and serve as the borrower's primary residence.
How do property taxes in Saul, KY affect monthly mortgage payments?
Property taxes in Saul are relatively low compared to national averages, with Pulaski County rates around 0.82% of assessed value. For a $150,000 home in Saul, this translates to approximately $1,230 annually, or about $102 per month included in your mortgage payment. These lower taxes help make homeownership more affordable in Saul compared to many other regions, though taxes can vary slightly based on specific property characteristics and school district boundaries.
Why Choose a Mortgage Lender in Saul?
Local Market Knowledge
Lenders who understand Saul'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 Saul and get competitive rates on your home loan.