Home Loans In Louisville, Kentucky

Louisville is among the top ten places to buy a home! The city’s properties are a high-performing investment due to the rapid growth of jobs, population, and affordability.

Louisville, also known as the “Gateway to the South” and “Bourbon City,” is located in north-central Kentucky, bordering Jefferson County in Indiana and the Ohio River. As the state’s largest city, Louisville has a low cost of living and a vibrant economy of public and private industries such as manufacturing, high-tech, transportation, and shipping.

With all of these advantages to living in Louisville, it’s no surprise that the city’s real estate market is thriving!

Is buying a house in Louisville on your list of goals for this year? Capital Home Mortgage can assist you in obtaining the financing you require to close the deal as quickly as possible. To get you started, let’s go over the basic steps for obtaining a home mortgage in Louisville, Kentucky.

How To Obtain A Louisville, Kentucky Home Loan

Securing a home loan can take a while, even more so if you are unfamiliar with the process. While each lender has its own set of procedures, getting a mortgage typically entails the following steps:

1. Find a lender and get pre-approved

Pre-approval is how a lender provides you with a quote for a mortgage loan. The lender will assess your earnings, assets, and creditworthiness during pre-approval and give you a quote based on the information.

Once pre-approved, the lender will generate a pre-approval containing information about your mortgage and the amount estimate, including the principal amount, interest rate, loan term, and other essential details.

Being pre-approved improves your shot at closing a deal with sellers because they know you can acquire the necessary financing to purchase the home. 

2. Look for a property that fits your budget.

Once you receive the approval letter, you can begin looking for homes based on the maximum amount that the lender is ready to loan to you.

There are several ways to go about finding your new home. You could conduct a quick internet search for homes for sale in Louisville or drive around the neighborhoods you had in mind. However, if you want your search to be as stress-free and convenient as possible, we recommend hiring an experienced real estate agent.

When you’ve found a home that fits your budget and requirements, you can make an offer to the seller and start negotiating.

3. Mortgage underwriting.

After you’ve reached an agreement with the seller and decided to purchase the property, your lender’s underwriter will look over your finances and the specifics of the home you want to buy.

During this stage, you will be required to provide documentation proving your income and asset ownership.  In addition, the lender will appraise the house, verify the title, and inspect the property following state laws.

4. Closing the loan.

The closing on your home loan marks the end of the mortgage application process.  You should bring to the closing proofs of identification, the down payment, and extra money for closing costs. 

After paying the down payment and signing the contract, you will be handed the keys to your new home in Louisville, Kentucky!

Louisville, Kentucky Mortgage Lender

When you work with Capital Home Mortgage, getting a home loan in Louisville is much easier and faster than you think. We provide a wide range of mortgage products, including VA, USDA, FHA, conventional, and jumbo loans.

As a direct mortgage lender, we handle and finance all mortgage applications from beginning to end. We also provide attractive interest rates and lower processing fees.

Apply For A Home Loan In Louisville Today!

Starting your homeownership journey is a breeze with Capital Home Mortgage. You can apply online or speak with one of our Louisville loan officers to discuss your home loan requirements. 

Call us at (270) 255-4771 to get started with a no-obligation loan quote.