Mortgage Programs
Wilson & Muir Bank - Mortgage Division
130 St. Matthews Avenue
Louisville, KY 40207
502-454-5400
800-294-8009
There are many reasons to choose Wilson & Muir Bank's Mortgage Division for your real estate needs. Our team of experts offers clients many advantages.
- We move fast, so you can make your move quickly.
- We partner with several of the nation's top mortgage service providers to offer the widest array of products and services.
- Utilizing state-of-the art underwriting technology at application time permits us to provide you fast loan approvals!
- We offer competitive closing costs. We even offer an option that features no closing costs!
- Our range of loan products includes fixed rates, intermediate adjustable rates, bridge and home equity lines of credit.
- In addition, we have access to the products and services you desire.
- FHA, VA and RHS approved
- Fannie Mae & Freddie Mac partners
- Kentucky Housing Lender
Mortgage Loan Products*
At WMB, we offer a wide range of loan products to meet your needs, including Conventional, RHS, VA & FHA loans, as well as several Adjustable Rate Mortgage Programs (ARMs), construction, bridge, and investment property loans. Our team of certified professionals will create a loan that offers you minimum risk and the best possible value. Approvals happen quickly, and customer service is second to none. Need 100 percent financing? We can help. We'll even arrange alternative forms of financing for challenged buyers or property. When you are buying, we're always open to helping you close!
Our full line of mortgage products includes -
Conventional Fixed and Adjustable Rate Mortgages (ARMs) loans offer up to 97% financing.
Executive Jumbo Loans
Executive Jumbo Loans are designed for the borrower who needs to obtain a loan that is greater than the Fannie Mae limit ($726,200) and is subject to change yearly. One of our mortgage loan specialists will help you determine the best option for your needs.
Residential Investment Loans
Designed for properties between one and four units.
Bridge Loans
Designed to make your transition from one home to the other as smooth as possible; utilizing your home's equity. Watch our video to learn more about bridge loans.
Construction Loans
Allow individuals to work with their own contractor and make interest-only payments on the portion used at the time. These loans are generally available to clients that have been pre-approved for their permanent financing.
Long-Term Rate Lock Program
Allows you to lock-in today's interest rate with options up to twelve months while you have your home constructed. Up front fees may apply for rate commitments exceeding 60 days.
Low or No Down Payments Programs
| Home Possible | Home Now | FHA | Rural Development | VA | |
|---|---|---|---|---|---|
| First Time Home Buyer requirement | No | Yes | No | No | No, but restrictions may apply |
| Minimum Down Payment | 3% | 3% | 3.50% | Zero | Zero |
| Credit Score | >639 | Determined by Automated Underwriting | >619 | Determined by Automated Underwriting | >619 |
| Flexible Source of Down Payment | Yes, family gift, grant, other | Yes, family gift, grant, other | Yes, family gift, grant, other | None Required | None Required |
| Geographic Restrictions | None | None | None | Yes, not available in Jefferson or Fayette County KY. | None |
| Income Limits | Yes, 80% limit by county or MSA (Metropolitan Statistical Area) | None | None | Yes, 80% limit by county or MSA | None |
| Home Buyer Education Requirements | Only when all buyers are first time buyers. Free Freddie Mac Credit Smart | Only when all buyers are first time buyers. Free Freddie Mac Credit Smart | None | None | None |
| Mortgage Insurance | Yes, based upon credit score & LTV (Loan to Value). Reduced premiums for loan to values exceeding 90%. Automatically cancelled at 78% LTV. | Yes, Normal rates based upon credit score and LTV. | 1.75% financed, .55 annual | 1.00% financed, 0.35 annual | 2.15% financed Active Duty/ Retired or 2.4% Reserve/Nat'l Guard |
| Mortagage Credit Certificate (MCC) | Yes, subject to MCC limits. | Yes, subject to MCC limits. | Yes, subject to MCC limits. | Yes, subject to MCC limits. | Yes, subject to MCC limits |
Please contact one of our Mortgage Specialists today to learn more about these or any of our other mortgage products. We move fast, so you can, too!
Check out our Mortgage Calculator at Financial Calculators to find out which loan is best suited for you. We provide quick pre-approvals to assist you when shopping for a new home.
*available to qualifying customers