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

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,KY42240-4809

Phone:(270) 886-5511

David Moore 270-887-1004 Mobile

Heritage Bank

4155 Lafayette Road

Hopkinsville,KY42240-3410

Phone:(270) 887-4483

Cindy Fleming

http://www.bankwithheritage.com/

Homeplace Mortgage Inc

4237 Fort Campbell Blvd

Hopkinsville,KY42240-9339

Phone:(270)885-2525

Connie Lancaster (270) 348-5077

www.homeplacemortgage.biz

McKissick Mortgage Inc

1226 Skyline Dr

Hopkinsville,KY42240-4961

Phone:(270)885-0207

Sue Ann McKissick (270) 889-5552

Angie Hake (270) 719-0013

www.mckissickmortgage.com

Planters Bank

4195 Fort Campbell Blvd

Hopkinsville,KY42240-2016

Phone:(270)887-6982

Linda Steel – (270) 881-0137 mobile

www.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.