The Best Mortgage Lenders in Yerkes, KY
Compare verified mortgage lenders serving Yerkes, Kentucky. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Yerkes
Featured Mortgage Lenders
Members Choice Credit Union
Members Choice Credit Union
Members Choice Credit Union is a highly-rated local lender deeply embedded in the Perry County community, including Yerkes. With over 70 years of service, they offer personalized mortgage solutions and competitive rates. Their high customer satisfaction stems from local decision-making, community involvement, and a wide range of loan products tailored to Eastern Kentucky residents. They are known for exceptional customer service and flexibility in serving rural homebuyers.
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Community Trust Bank
Community Trust Bank
Community Trust Bank is a stalwart regional lender with a strong presence in Eastern Kentucky, including service to Yerkes. With over a century of experience, they provide reliable mortgage lending backed by local expertise and competitive rates. Their reputation is built on trust, long-standing customer relationships, and a comprehensive suite of loan options. They excel in serving both urban and rural communities with dedicated support and flexible terms.
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Caliber Home Loans
Caliber Home Loans
Caliber Home Loans is a nationally recognized mortgage lender with a strong track record in Kentucky, including the Yerkes area. Founded in 2008, they combine modern technology with personalized service, offering competitive rates and a streamlined application process. Their high ratings reflect efficiency, transparency, and a wide array of loan products. With local agents available, they provide tailored support for rural homebuyers, ensuring a smooth mortgage experience.
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Frequently Asked Questions
Common questions about mortgage lending in Yerkes, KY
What are the current mortgage rates like in Yerkes, Kentucky?
Mortgage rates in Yerkes typically align with national averages but can be slightly higher due to the rural nature of Perry County and limited local lender competition. As of 2024, rates for 30-year fixed mortgages generally range from 6.5% to 7.25%, though this varies by lender and borrower qualifications. It's wise to compare offers from both local credit unions and regional banks serving Eastern Kentucky.
Are there any first-time homebuyer programs specifically available in Yerkes?
Yes, the Kentucky Housing Corporation (KHC) offers several first-time homebuyer programs accessible to Yerkes residents, including down payment assistance and affordable fixed-rate mortgages. Additionally, local lenders like Community Trust Bank often participate in KHC programs and may offer special terms for Perry County buyers. These programs can help with lower down payments and closing cost assistance.
How does Yerkes' rural location affect the mortgage approval process?
Yerkes' rural setting can impact appraisals since comparable home sales may be limited, potentially requiring appraisers to look at properties in nearby towns like Hazard. Some lenders might have stricter requirements for rural properties, particularly regarding well and septic systems. Working with lenders experienced in Eastern Kentucky rural mortgages can streamline this process.
What types of properties are most common for mortgage lending in Yerkes?
Most mortgage lending in Yerkes involves single-family homes, manufactured homes on permanent foundations, and occasionally land-home packages. Traditional site-built homes typically qualify for conventional and government loans, while manufactured homes may require FHA or VA financing. Given the mountainous terrain, properties with challenging topography may need additional appraisal considerations.
Are USDA loans a good option for homebuyers in Yerkes?
Absolutely, Yerkes' rural designation makes most of the area eligible for USDA loans, which offer 100% financing with no down payment required. This is particularly beneficial given the moderate income levels in Perry County. Many local lenders are familiar with USDA processing, making this an excellent option for qualified buyers seeking affordable homeownership in the Yerkes area.
Why Choose a Mortgage Lender in Yerkes?
Local Market Knowledge
Lenders who understand Yerkes'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 Yerkes and get competitive rates on your home loan.