The Best Mortgage Lenders in Union, KY
Compare verified mortgage lenders serving Union, Kentucky. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Union
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 its exceptional customer service and competitive rates. They have a strong local presence in Northern Kentucky, including Union, and are highly regarded for their wide range of loan options and personalized approach. Their high ratings and substantial customer reviews reflect reliability and satisfaction in the home financing process.
Loan Types:
New American Funding
New American Funding
New American Funding is a highly reputable mortgage lender praised for its diverse loan products and commitment to serving borrowers with various financial backgrounds. With over 21 years in business, they offer competitive rates and excellent customer service, making them a preferred choice in the Union area. Their strong local presence and high customer satisfaction ratings underscore their reliability and expertise.
Loan Types:
Guaranteed Rate
Guaranteed Rate
Guaranteed Rate is a leading mortgage lender with a robust online platform and local offices serving Union and Northern Kentucky. Founded in 2000, they are known for their fast processing times, transparent pricing, and high customer service standards. Their extensive experience and positive reviews highlight their ability to provide competitive rates and tailored solutions for homebuyers in the region.
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Frequently Asked Questions
Common questions about mortgage lending in Union, KY
What are the current mortgage rates like for homebuyers in Union, KY?
Mortgage rates in Union, KY typically align with national averages but can be influenced by local market competition. Currently, rates for a 30-year fixed mortgage in Boone County generally range from the mid-6% to low-7% APR, but shopping around with local lenders is crucial as they may offer special promotions. Your specific rate will depend on your credit score, loan amount, and down payment.
Are there any first-time homebuyer programs specific to Union, KY that can help with down payments?
While Union itself doesn't offer city-specific programs, Kentucky Housing Corporation (KHC) provides excellent statewide programs accessible to Union buyers. These include down payment assistance grants and affordable loan options with competitive interest rates. Many local lenders in Boone County are well-versed in KHC programs and can help you determine eligibility based on income and purchase price limits.
How does Union's competitive housing market affect the mortgage pre-approval process?
Union's desirable location in Boone County creates a competitive market where sellers often require strong pre-approvals. It's essential to get a fully underwritten pre-approval (not just pre-qualification) from a local lender who understands the area's appraisal trends. This demonstrates to sellers that you're a serious buyer who can close quickly, giving you an edge in multiple offer situations.
What should I know about property taxes and insurance when calculating my mortgage payment in Union?
Boone County property taxes are relatively moderate compared to neighboring areas, typically around 0.85-1.0% of assessed value. However, you should also budget for Kentucky's required mortgage insurance if your down payment is less than 20%, plus homeowner's insurance which averages $1,200-$1,800 annually in Union. Your lender can provide precise estimates for your specific situation.
Are USDA loans available in Union, KY given its semi-rural location?
Yes, most of Union qualifies for USDA rural development loans, which offer 100% financing with no down payment required. However, specific property locations within Union may have different eligibility, so it's important to check the USDA eligibility map for your desired neighborhood. These loans can be particularly advantageous for buyers looking at properties in Union's more rural sections.
Why Choose a Mortgage Lender in Union?
Local Market Knowledge
Lenders who understand Union'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 Union and get competitive rates on your home loan.