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Making Kentucky Your Home - The Best Kentucky Mortgage Rates, Resources & Information

As reflected in its state song, Kentucky values the concept of "home," and offers its residents a variety of resources for buying a first home or getting a mortgage loan.

Our information will help you learn about all types of Kentucky home loans and our helpful list of specific KY Mortgage Resources & services is specifically tailored for our state. Having some knowledge of how mortgage loans work wherever you live in Kentucky can help you select a home and keep it for years to come. Whether you're looking for a Lexington new home loan or a Bowling Green mortgage refinance, it pays to do your homework.

Also compare competing quotes from our lender database of reputable Kentucky mortgage lenders by filling the form to the right. For most of us, buying a home is the largest investment we'll make in our lives, so take the time to speak to different lenders and see what offers are available to you.  Getting several competing quotes and getting the best offer can save you thousands over the course of your loan.

Kentucky Housing Corporation (KHC): Your State Agency for Housing Assistance

Information for homebuyers and homeowners can be found on the Website for the Kentucky Housing Corporation, which administers lending, education, and community programs for homebuyers and homeowners.

Homebuyer assistance programs offer incentives including down payment assistance, tax incentives, and favorable interest rates for eligible buyers. The KHC also offers assistance and information for homeowners who want to refinance or who want to prevent foreclosure.

Doing Your Home-work Before Looking for a Home Loan

Whether you're a first time homebuyer or have lived in your home for many years, getting a new home loan or refinancing your old one can be complicated. The good news is that you can estimate payment amounts, estimate how much you can afford to borrow, and compare mortgage loan terms and features without leaving home. Using online mortgage calculator tools, you can "do the numbers" and get some ideas before looking for a mortgage loan or a new home. A mortgage calculator for comparing loans can also help you decide if you can save by refinancing your home loan.

Fending Off Foreclosure: Take Action Now

Kentucky foreclosure proceedings are conducted through the courts, through a process called judicial foreclosure. If you fail to meet the terms of your mortgage agreement, your lender can sue you in court to foreclosure your mortgage and take possession of your home. The length of time it takes to complete foreclosure can depend on many factors, including how many foreclosures are in process, the court. Kentucky law does allow lenders to seek a deficiency judgment. This means that you could be held liable for any losses incurred by your lender as the result of foreclosing your mortgage. If your mortgage is foreclosed and sold at auction for less than two thirds of its appraised value, you have one year in which to reclaim your home. In order to do this, you would need to pay the lender the successful bid amount plus an additional 10% to cover legal fees and expenses.

Foreclosure can ruin your credit for up to ten years, and is costly to stop. If you're having financial problems, please use the resources listed here to get help before your lender starts foreclosure.

Mortgage Calculator Tools

As you go from researcher to homebuyer to homeowner, please continue to make use of our loan calculators which include a refinance calculator, a mortgage loan rate comparison calculator, and an amortization calculator & amortization chart. There's also a mortgage calculator to tell you your monthly payments, and an affordability calculator that looks as how much you can spend, and your expenses to show you how much home you can afford.