Kentucky & Louisville Mortgages and Banks
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Indiana, Tennesse  and Kentucky Home Equity Loans, 30 Year Fixed Loan, Rural Housing and FHA Loans

First Rate Mortgage offers a variety of loan programs to meet your needs including home equity loans in Kentucky and Indiana. We work with the leading lenders in the industry to provide:

30 Year Fixed Rate Loan
This loan's interest rate does not change for the life of the loan which is 30 years or 360 months.

Term: 30 years   Maximum Amount: $333,370

We offer a variety of 30 year products with very competitive rates. Call our office today to find out what the current interest rates are.

 

Rural Housing Loan
This is a government loan that is territory specific and income based but offers you 100% financing on the appraised value. (Purchases only)  We offer very competitive rates and our processors specialize in dealing with this kind of loan.  Call our office today to find out if the home you are wanting to purchase is in a qualified area and what current interest rates are.

Term: 30 years   Maximum Amount: $250,000

This ia a great purchase loan program for the "first time homebuyer".  Because it offers the availability to borrow up to 100% of the appraised value and not the purchase price , you can typical include your closing costs into the loan if there is any equity in the property.  This loan does not apply for properties in large metropolitian areas such as Louisville or Lexington.  But it usually does cover the areas just outside of these larger cities.  You must have acceptable credit  but our processors can work with you to make sure your credit is accurate and up to date to help you qualify. This programs is also based on income.  Call our office today to see what current interest are and if you qualify. 

 

FHA Loan
Federal Housing Athority loans are backed by the government and offer a variety of terms.  Typically a 30 year mortgage is very low and you can borrow up to 97% of the purchase price.  This is also a refiance product.  It is limited to loan amounts and these limits are teritory specific. A FHA loan is not specifically designed for lower income families or limited to a specific size house.  It is a great program for first time homebuyers and those who do not have downpayments.  Call our office today to see what current rates are and if you qualify.

 

2/28 ARM
This is and Adjustable Rate Mortgage where for the first 2 years the rate is fixed and then goes adjustable for the final 28 years.  It is amortized for a total of 30 years.  We offer a wide variety of adjustable rate mortgages - call our office today to find out current interest rates.

Term: 30 years   Maximum Amount: $333,370

Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $359,650 for the contiguous states, District of Columbia, and Puerto Rico or below $539,475 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $333,700 with closing costs of $8,162. Jumbo Loans (whose maximum loan amount exceed $359,650 for the contiguous states, District of Columbia, and Puerto Rico or exceed $539,475 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $22,418. Your actual APR may be different depending upon these factors.

 


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