Compare today's rates for Mortgage Refinance in KY
Mortgage rates for Kentucky on Lender411 for 30-year fixed-rate mortgages are at 3.79%. That dropped from 3.79% to 3.79%. The 15-year fixed rates are now at 2.96%. The 5/1 ARM mortgage for Kentucky is now at 0.00%.
If you are looking for up to the minute Kentucky mortgage rates, you’ve come to the right place. Finding the lowest rates is easy when you have access to our vast network of trusted mortgage professionals in Kentucky. Talk to multiple mortgage lenders in KY to compare rate quotes and understand your options.
Why is it critical to find the lowest rate when refinancing? Simply put, this is the entire goal of a refinance. The lower your new rate, the more money you’ll save. While there are many ways to secure a refinance loan, the best option is the no cost refi, which allows you to switch to a new mortgage with a lower rate without paying the fees associated with closing a new loan. This can literally save you thousands of dollars.
The loan types available in Kentucky are much like those available elsewhere. One of the most widely available mortgage loan types is the 30 year fixed rate mortgage. As the name implies, this loan comes with a fixed interest rate. This is considered the most financially sound mortgage by many borrowers. Some opt for the 15-year fixed option.
The adjustable rate mortgage (ARM) is another common loan type. You can also pursue a jumbo loan, interest-only loan, balloon mortgage, or other specialized loan type. Whether or not one of these loans fits you will depend entirely on your needs and the requirements of your lender. Government backed loans, such as the FHA loan and the VA loan, are available to those who qualify.
Kentucky is sometimes considered part of the Midwest and sometimes considered part of the South. It sports the best features of both areas. Kentucky is called the "Bluegrass State" after the abundance of blue grass that grows throughout the region. Kentucky is also well known for thoroughbred horses and horse racing, including the Kentucky Derby, college basketball, bourbon distilleries, automobile manufacturing and bluegrass music.
The largest city in Kentucky is Louisville, which has over half a million residents. Lexington is the second largest city, with Bowling Green, Owensboro, Ashland, and Paducah rounding out the list of other major cities. If lovely natural surroundings with excellent business opportunities are what you’re looking for, you might want to consider being a homeowner in Kentucky.
To learn more about homeownership in Kentucky or research KY home buying programs, visit the Kentucky HUD portal.
Follow these links to learn more about Kentucky mortgages.