Below is a list of local mortgage brokers. If you
would like to chat with one of them, they will be
glad to help and answer any of your mortgage
questions or if you have a mortgage broker of
your preference, you may call them. Just let
them know that I sent them your way.
I strongly believe that you need to have a local mortgage broker, a mortgage broker
that you can meet face to face, a mortgage broker that will be there at closing to
make the transaction go smoothly. I have had several clients that have insisted that
they use a online mortgage company or mortgage broker that is located who knows
where and by the time the closing is all done with all of the headaches they went
thru they wish they had picked a local mortgage broker. I don't care which
mortgage broker in our area that you use, you may pick one of the ones below or
one on your own.
Mortgage Brokers
RMC – Realty Mortgage Corporated
Tony Zuniga
tzuniga@realtymortgage.com
931-216-0943
(931) 274-0070
Phone: 931-274-0079
Cell Phone: 931-216-0943
Click on this link: Tony Zuniga, Loan Originator to browse a wide variety of
mortgage resources and then you may apply online. Please be advice to use ALL
CAPITAL LETTERS.
Hallmark Mortgage LLC
201 Country Club Ln
Hopkinsville, KY 42240-4809
Phone: (270) 886-5511
David Moore 270-887-1004 Mobile
Heritage Bank
4155 Lafayette Road
Hopkinsville, KY 42240-3410
Phone: (270) 887-4483
Cindy Fleming
cflemming@hopfed.com
http://www.bankwithheritage.com/
Homeplace Mortgage Inc
4237 Fort Campbell Blvd
Hopkinsville, KY 42240-9339
Phone: (270)885-2525
Connie Lancaster (270) 348-5077
www.homeplacemortgage.biz
McKissick Mortgage Inc
1226 Skyline Dr
Hopkinsville, KY 42240-4961
Phone: (270)885-0207
Sue Ann McKissick (270) 889-5552
Angie Hake (270) 719-0013
www.mckissickmortgage.com
mckmtg@bellsouth.net
Planters Bank
4195 Fort Campbell Blvd
Hopkinsville, KY 42240-2016
Phone: (270)887-6982
Linda Steel – (270) 881-0137 mobile
www.plantersbankonline.com
lsteel@plantersbankonline.com
Certificate entitles bearer to $300.000 to be used towards closing costs of your next home
mortgage or refinance of your current home by Linda Steel, *offer is void if seller is
asking for fees to be cut or buyer is asking us to try to match another competitor for a
lower rate. For loan amounts above $100,000.00 only.
Coupon is good to Buyer of Karen Chiles Buyer who has an excepted contract and to
show pre-approval letter from Ms. Steel on a home that is closing on or before 10/30/06.
Ask Ms. Linda Steel about Kentucky Housing Loans.
United Southern Bank
1813 E 9th St
Hopkinsville, KY 42240
Phone: (270) 885-0056
Kyle Hensley
PRE-QUALIFICATION AND PRE-APPROVAL
Many buyers apply for a loan and obtain approval before they find the home they
want to buy. Why?
Pre-qualifying will help you in the following ways:
1.
Generally, interest rates are locked in for a set period of time. You will know
in advance exactly what your payments will be on offers you choose to make.
2.
You won't waste time considering homes you cannot afford.
Pre-approval will help you in the following ways:
1.
A seller may choose to make concessions if they know that your financing is
secured. You are like a cash buyer, and this may make your offer more competitive.
2.
You can select the best loan package without being under pressure.
How Much Home Can You Afford?
There are three key factors to consider:
1.
The down payment
2.
Your ability to qualify for a mortgage
3.
The closing costs associated with your transaction.
Down Payment Requirements:
Most loans today require a down payment of between 3.5% and 5.0% depending on
the type and terms of the loan. If you are able to come up with a 20-25% down
payment, you may be eligible to take advantage of special fast-track programs and
possibly eliminate mortgage insurance.
Closing Costs:
You will be required to pay fees for loan processing and other closing costs. These
fees must be paid in full at the final settlement, unless you are able to include them
in your financing. Typically, total-closing costs will range between 2-5% of your
mortgage loan.
Qualifying For The Mortgage:
Most lenders require that your monthly payment range between 25-28% of your
gross monthly income. Your mortgage payment to the lender includes the following
items:
§
The principal on the loan (P)
§
The interest on the loan (I)
§
Property taxes (T),
§
The homeowner's insurance (I).
Your total monthly PITI and all debts (from installments to revolving charge
accounts) should range between 33-38% of your gross monthly income. These key
factors determine your ability to secure a home loan: Credit Report, Assets, Income,
and Property Value.
I hope that you find the above information helpful.