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So, on to the next step in buying a home: getting a loan, or at least pre-approved. Can anyone recommend a loan officer or broker that I could contact? Also, does BB&T have a good reputation in Lexington? They are the only bank that is both in Chattanooga and Lexington.
Its my understanding that loans are taking about 60 days to close, so I need to start looking soon!
Also, eventually I will need a home inspector and surveyor, if anyone could make a recommendation.
Angie Nunnelly with Countrywide is a great mortgage broker.
I've used BB&T for a business, and was very happy with their service, but not for personal banking.
My real estate office (Rector Hayden South; RH is the biggie here) had a built-in mortgage broker (Sheldon something maybe Sheldon Sullivan, she was great). The approval took about 10 minutes. We just had a thread on inspectors and there was strong agreement on one (happens to be the one I used) but I'm blanking on his name. I think Pruitt Property - yes, that's it .
Okay, I'm going to chime in with my recommendations:
Loan Officer: Christie Day, Kentucky Mortgage
Realtor: Connie Morton, Bluegrass Sotheby's (a fantastic buyer's representative)
Inspector: Rick Beasley, KY Home Technology (very thorough, but a little less expensive than competitors)
Excellent, thank you all very much! I definitely want a thorough home inspector. I've heard that it is taking as long as 60 days to close on a loan, so I need to get on the ball with a mortgage broker!
Try Kash Mortgage 859 971-1808x101 or 888 440 5274, there is a website [URL="http://www.kashmortgage.com"]www.kashmortgage.com[/URL], members of tons of local organizations.
Chattavegas: For a home inspection, you really can't go wrong with Rick Beasley with KY Home Technology. He just inspected a new home for me yesterday and was there for 3 hours -- VERY THOROUGH. He only charged $225, which I thought was very reasonable, although I think his rates vary dependent on the size of the house. His number is 859-492-1130.
You might also consider getting a termite inspection, and for that I would recommend TJ Neary at Insect Technologies (859-276-2781) -- he's a certified entomologist and again, VERY THOROUGH.
Does anyone know the allowed debt ratio on mortgage loans on Case bank loans.
We are applying for borrowers assistance program & need to complete monthly expenses
form which is critical to qualifying for a reduction in interest rate on loans.
Jim, odds are that the loan is going to be sold, so it must conform to either conventional or FHA guidelines to be sold on the secondary market. Ask your loan officer to help you with this.
So, on to the next step in buying a home: getting a loan, or at least pre-approved. Can anyone recommend a loan officer or broker that I could contact? Also, does BB&T have a good reputation in Lexington? They are the only bank that is both in Chattanooga and Lexington.
Its my understanding that loans are taking about 60 days to close, so I need to start looking soon!
Also, eventually I will need a home inspector and surveyor, if anyone could make a recommendation.
Thanks!
I just closed last Friday, Mar 20, on a home I bought in Richmond KY. I dealt with BB&T in Lexington, KY. I had a very pleasant experience with their mortgage loan officer, Mike Kimbrell ( MKimbrell@BBandT.com ) We were able to do everything via email/Fax . We did make one trip to his office since we were in Lexington anyway. I like to see who I am dealing with. He was very well informed and answered all the questions we had in a very straight forward manner. I was able to lock in at 4.875% for 45 days on a 80% - 30 yr conventional loan. 0 points. I did have an excellent credit rating, which always helps. I was able to avoid escrow on tax and insurance, I like to pay my own . Closed in 30 days, they give purchases priority over refi folks. They tend to not sell their loans like many banks do, I like that also. I have bought two homes here using BB&T and have been well pleased. You might mention Mr Hoback referred you.
I have a very nice home that I will be selling myself (save real estate commissions) in a month or so. It's in beautiful Berea, KY about 35 miles south on I-75 from Lexington. @ $220K-2200 sq ft- 3 garages-one level brick, 3 yrs old, in a devlopment that backs up to a big farm with view of the KY foothills. Very nice. Very low cost utilities, great neighbors and a college town! I am moving up to Richmond into my dream house. You could email me at uglygs@yahoo.com for more info or pics if interested.
Hope this helps ...CGH
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