NMHL Mortgage Lending
Mortgage Lender in Lexington, KY
Local expertise and competitive rates for Lexington homebuyers.
Lexington, Kentucky's vibrant college town and equestrian heritage create a unique housing market that requires specialized mortgage solutions. With a median home price of $275,000, Lexington offers a relatively affordable entry point for homebuyers compared to other major college towns. At National Mortgage Home Loans (NMHL), we understand the local market dynamics and offer tailored mortgage programs to serve Lexington borrowers, including those with bad credit, self-employed individuals, and first-time homebuyers.
The city's diverse economy, led by the University of Kentucky and major employers like Toyota's manufacturing plant in nearby Georgetown, supports a stable housing market. Neighborhoods like Chevy Chase, Hamburg, and Beaumont offer a range of housing options, from charming older homes to newer suburban developments. NMHL's local expertise and range of mortgage products make us the ideal partner for navigating Lexington's housing market.
Whether you're a first-time buyer looking for down payment assistance or an experienced homeowner seeking a competitive mortgage rate, NMHL has the expertise and programs to help. Our Lexington mortgage specialists understand the local property tax landscape, with an average effective rate of 0.84%, and can guide you through the home financing process.
Lexington Housing Market Overview
Lexington is the Horse Capital of the World, home to the University of Kentucky and surrounded by iconic Bluegrass horse farms. The city combines college-town energy with equestrian heritage and a growing tech sector.
Lexington Neighborhoods
Popular areas for homebuyers in Lexington, KY
ZIP Codes We Serve in Lexington
Mortgage lending available in these Lexington ZIP codes
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Your Local Mortgage Partner
We understand the local market dynamics that affect your home purchase. Our team provides personalized loan options based on local property values and regulations.
Available Loan Programs in Lexington
Explore mortgage options tailored to Lexington homebuyers
First Time Home Buyer Mortgages
Special loan programs helping newcomers purchase their first home with favorable terms and support.
Learn MoreRefi-Shield
Learn MoreAdjustable-Rate Mortgage (ARM)
Financial flexibility and optimal rates with an Adjustable-Rate Mortgage – Your key to a dynamic homeownership journey
Learn MoreHigh-Value Appraisal Program
Learn MoreInterest Only Mortgages
Interest-only mortgages allow borrowers to pay only the interest for a set period, reducing initial monthly payments.
Learn MoreHome Equity Loans
Access the equity in your home with a fixed-rate home equity loan. Get a lump sum with predictable monthly payments for ...
Learn MoreFHA Loans
Federal Housing Administration (FHA) loans are government-backed mortgages designed to help first-time homebuyers and th...
Learn MoreFixed-Rate Mortgage
Lock in your interest rate for the life of the loan with a fixed-rate mortgage. Predictable monthly payments make budget...
Learn MoreBridge Loans
Bridge the gap between buying your new home and selling your current one. Short-term financing that gives you the flexib...
Learn MoreVA Loans
VA loans are a benefit earned by veterans, active-duty service members, and eligible surviving spouses. Backed by the De...
Learn MoreConventional Loans
Conventional loans are not backed by government agencies and typically offer the most flexibility for qualified borrower...
Learn MoreITIN Loans
Purchase a home using your Individual Taxpayer Identification Number (ITIN) without a Social Security Number. NMHL is co...
Learn MoreJumbo Loans
Jumbo loans exceed conforming loan limits and are designed for luxury properties and homes in high-cost areas. With comp...
Learn MoreDSCR Investment Loans
Debt Service Coverage Ratio (DSCR) loans qualify based on rental income rather than personal income. Perfect for real es...
Learn MoreBank Statement Loans
Bank statement loans are designed for self-employed borrowers and business owners who have difficulty documenting income...
Learn MoreReverse Mortgages
For homeowners 62 and older, reverse mortgages allow you to access your home equity without monthly payments. Stay in yo...
Learn MoreUSDA Mortgages
USDA Rural Development loans help moderate-income buyers purchase homes in eligible rural and suburban areas. With no do...
Learn MoreHeloc
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Understanding Lexington's Housing Market
Lexington's housing market is characterized by its blend of college-town energy and equestrian heritage. The median home price stands at $275,000, making it relatively affordable compared to other major college towns. Neighborhoods like Chevy Chase, with its charming older homes near the University of Kentucky campus, and newer suburban developments in Hamburg and Beaumont, offer a range of housing options.
- The University of Kentucky drives demand for housing near campus, influencing local rental and sales markets.
- Major employers like Toyota's manufacturing plant in nearby Georgetown contribute to the city's economic stability.
- Lexington's equestrian heritage is reflected in its many horse farms and related businesses.
NMHL's local expertise helps borrowers navigate Lexington's unique housing market.
First-Time Homebuyer Programs in Lexington
NMHL offers various mortgage programs tailored to first-time homebuyers in Lexington. Our First-Time Homebuyer Program provides competitive interest rates and reduced mortgage insurance premiums. We also participate in down payment assistance programs, such as those offered by the Kentucky Housing Corporation (KHC), to help with upfront costs.
To qualify, borrowers typically need a minimum credit score of 640 and a debt-to-income ratio below 45%. Our mortgage specialists work with Lexington borrowers to identify the most suitable programs and guide them through the application process.
Get pre-approved today and take the first step toward homeownership in Lexington.
Mortgage Options for Self-Employed Borrowers
Self-employed individuals in Lexington often face unique challenges when applying for mortgages. NMHL's Self-Employed Mortgage Program is designed to address these challenges by considering alternative income documentation and more flexible underwriting criteria.
- We accept bank statement analysis and other non-traditional income documentation.
- Our program allows for more flexible debt-to-income ratios.
- We offer competitive interest rates for self-employed borrowers.
Our experienced mortgage specialists understand the complexities of self-employed income and can help Lexington business owners navigate the mortgage process.
NMHL's Self-Employed Mortgage Program can help you qualify for the mortgage you need.
VA Loans for Lexington Veterans
NMHL is proud to offer VA Loans to eligible veterans and military personnel in Lexington. These loans provide numerous benefits, including:
- No down payment requirements for most borrowers.
- Lower interest rates compared to conventional mortgages.
- No private mortgage insurance (PMI) premiums.
Our VA Loan specialists have extensive experience working with Lexington veterans and can guide you through the application process. We help you understand your eligibility and the benefits available to you.
Lexington veterans can take advantage of VA Loan benefits with NMHL.
Frequently Asked Questions
First-time homebuyers in Lexington often consider neighborhoods like Hartland and Masterson Station, which offer a mix of affordability and amenities. Hartland features established family homes, while Masterson Station provides modern planned community living. Both areas have seen significant development in recent years, making them attractive options for new buyers.
In Lexington, school district boundaries significantly impact home values. The Fayette County Public Schools district serves the area, with highly-rated schools like Henry Clay High School and Lexington Traditional Magnet School enhancing property values in their respective zones. Homes in these areas often command a premium due to the strong reputation of local schools.
Lexington homebuyers can access various down payment assistance programs, including those offered by the Kentucky Housing Corporation (KHC). NMHL participates in these programs, providing options like the KHC Down Payment Assistance Program, which can cover up to 3.5% of the home's purchase price. Our mortgage specialists can help determine the best assistance program for your situation.
While traditional lenders may be hesitant to approve mortgages for borrowers with bad credit, NMHL offers specialized programs for credit-challenged individuals. Our Bad Credit Mortgage program considers alternative credit scoring models and provides more flexible underwriting criteria. We work with Lexington borrowers to improve their credit profiles and find suitable mortgage options.
To pre-qualify for a mortgage in Lexington, start by contacting NMHL to speak with one of our experienced mortgage specialists. We'll review your financial situation, credit profile, and homebuying goals to determine the most suitable mortgage options. Our online pre-qualification tool is also available for a quick initial assessment.
Property taxes in Lexington are relatively low, with an average effective rate of 0.84%. The Fayette County Property Valuation Administrator (PVA) assesses property values, which are then used to calculate tax bills. Homeowners should factor in these costs when determining their overall housing expenses. NMHL can help you understand how property taxes impact your mortgage payments.
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