Metro Mortgage Lending

read moreWe will treat you with the respect due an esteemed customer and give you the personal service you deserve. We understand the big commitment you are making in buying a home, refinancing a mortgage, or cashing out your home equity. So we make a commitment to you: we will help you qualify, apply and be approved for the ideal mortgage for you. Your trusted Louisville Mortgage Brokers providing you with the best home loans and mortgage rates in KY.

read moreBecause our society is so automated, you're probably not surprised to hear that your ability to repay virtually any loan boils down to a single number. Credit reporting agencies use your loan payment history in order to create your FICO score. Experian, TransUnion, and Equifax, the three major credit agencies, each have their own proprietary formula for building your credit score. The original FICO was developed by Fair Isaac and Company. Experian uses this model and calls its score FICO. Equifax's model, based on FICO, is called BEACON, while TransUnion, which also uses a slightly modified FICO, calls its score EMPIRICA.

read moreWith a fixed-rate loan, your monthly payment never changes for the entire duration of the mortgage. The amount allocated for principal (the actual loan amount) will go up, but your interest payment will decrease in the same amount. Your property taxes may go up (or rarely, down), and so might the homeowner's insurance in your monthly payment. For the most part payment amounts on your fixed-rate loan will increase very little. Early in a fixed-rate loan, most of your monthly payment goes toward interest, and a significantly smaller part toward principal.

read moreWhen you are overwhelmed with so many options, it may seem like there are even more refinance programs than applicants! We can help you choose the refinance loan program that will fit your needs the best. Contact us at 502-491-0749 to get started. There are some general questions to ask yourself while you consider your choices. Are your refinance goals to lower your rate and consequently your mortgage payments? If so, getting a low, fixed-rate loan may be a good option for you. An ARM (Adjustable Rate Mortgage) or a high fixed rate mortgage are loan programs that you might want to refinance.

read moreEver hear the pearl of wisdom that says you should only refinance if the new interest rate is at least two points lower than your present rate? Maybe that was sound advice several years ago, but since refinance costs have been getting lower, it could be time to look into it. Refinancing your mortgage loan has various benefits that will often make it worth the up-front expenditure a few times over. You may be able to bring down your interest rate (sometimes substantially) and reduce your monthly mortgage payment amount with a refinanced mortgage.

read moreMany home buyers today opt to use funds from their employer's 401(K) program to come up with the down payment on a house. Ordinarily, you can't take money from your 401(K) plan unless you retire, leave the company or become disabled, but many company plans permit certain "hardship withdrawals" when there is an immediate and heavy financial need, including the purchase of the employee's principal residence. The drawback to a hardship withdrawal is that you will pay taxes and penalties on the amount withdrawn from your plan, which often must be paid in the year of withdrawal.

read moreThere can be little doubt; getting a mortgage is a complicated process. You would not be looking up loan information if it were possible to get a loan in a single day with a simple application. But Metro Mortgage Lending does the heavy lifting so you can concentrate on your life rather than the mortgage loan. This is a function of a couple things. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you?

read moreIn the rush of excitement that comes with an accepted offer and a "yes" from the lender, many homebuyers make the mistake of bringing their enthusiasm straight to the mall or furniture store. There still remain a few major hurdles to jump before the house is really yours. We have given you a list of actions below you will want to avoid when waiting for closing. Don't overspend on big-ticket items Although you may be planning ways to turn your new house into a castle, try to stay away from major purchases like appliances, electronics, or expensive furnishings.