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MORTGAGE WAREHOUSE PROUDLY SERVES KENTUCKY AND INDIANA
Mortgage Company Louisville KY. This is our #1 loan program. Closing costs can add up quickly and that is why we offer the No Closing Costs loan option for both purchases and refinances. Is our No Closing Cost program right for you?Buyers Beware! This saying not only applies to your actual home selection- but also to the lender that you choose for your mortgage. Many lenders will resort to misleading a borrower by quoting a low interest rate that will end up adding additional costs to the loan. Mortgage Company Louisville KY. These additional fees are sometimes hidden as origination fees, miscellaneous fees, points or even called a buydown. The borrower might obtain a lower interest rate but will end up paying more money at closing, sometimes thousands more! Depending on the lender, these fees and additional costs may or may not have been fully explained when you were rate shopping. This is a major factor to consider. According to a 2021 report done by the National Association of Realtors: Overall, buyers expected to live in their homes for a median of 15 years. For buyers aged 22 to 30, the expected length of time was only 10 years compared to 20 years for buyers aged 56 to 74 years. If you think any of these situations might apply to you in the future, then the additional cost may not be worth it. When you call Mortgage Warehouse, we can go over your circumstances and figure out your break even point (how many years you need to keep your loan in order to absorb the cost and start reaping the benefits of the lower rate) . We can help you decide which option is best for you. On the other hand, if you are planning on staying in your new home for several years, it might make sense to look at the low rate option. This is a great strategy for lowering your monthly payment and saving on the amount of interest you pay in the long run, assuming you keep the mortgage for many years. The typical break even point for loans with higher costs upfront can be between 5 to 7 years and after that you are saving money for the remainder of the loan.
We have the loan programs to get you into your new home.
If you’re purchasing your first home, we’ll help determine your eligibility.
We can reduce your rate, shorten your term or get you cash out.
Honest solutions. Responsive service.
At Mortgage Warehouse, we’re here every step of the way.
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Mortgage Company Louisville KY
What makes us different
When it comes to handling your loan, we do what others can’t. You’ll have the ability to apply either online, over the phone, or in-person. And the efficiency doesn’t stop there. For over 15 years, we’ve been helping you save time and money because we’re a part of the market you’re shopping in. Mortgage Warehouse brings an expertise and customer service that you can count on. From beginning to end, we do what we say we’re going to do.