Kentucky Housing Market Heats Up As Lenders Ease Up On Guidelines
This Article Is About Kentucky Housing Market Heats Up As Lenders Ease Up On Guidelines
Kentucky is seeing a boom in its economy with tens of thousands of individuals, families, and businesses migrating to the Blue Grass State. For example, thousands of Illinoisans, New Yorkers, and Californians are migrating to Kentucky. The state is tax-friendly to not just individuals but also to businesses. Home prices are still substantially lower than in other states. Property taxes in Kentucky is ranked among the lowest in the nation. In this article, we will discuss the Kentucky Housing Market and how many homebuyers can get a lot of homes for the money.
Reasonably Priced Homes
Kentucky Housing Market is heating up. While many homebuyers are getting priced out of buying homes in other states, homebuyers can still find reasonably priced homes throughout the state of Kentucky. More and more families migrated to the state of Kentucky from other states. The mass migration is making the Kentucky Housing Market skyrocket its housing prices. More and more families are finding the Great State of Kentucky attractive. Reasonable housing prices, demand for jobs, Midwestern mentality, friendly people, and low taxes is what are making Kentucky Housing Market very attractive. The state Kentucky Housing Market has just made it official in having the second-highest year in the state’s history. As Kentucky Housing Market is spiking up, home buyers are experiencing a shortage of home inventory.
Shortage In Kentucky Housing Market Despite Highest Mortgage Rates
Demand for housing throughout the whole state of Kentucky is forcing Kentucky Housing Market home values to increase.
- Federal Housing Finance Agency (FHFA) has increased conventional loan limits to $548,250 for five years in a row due to rising home prices
- HUD followed FHFA and increased loan limits on FHA Loans for three years in a row to $356,362
- FHFA and HUD increasing loan limits for three years in a row was due to rising home values
- Home values in Kentucky keep on rising despite mortgage interest rates the highest since the 2008 Real Estate Meltdown
- There is no sign of retraction or future market correction
Federal Reserve Board Chairman Jerome Powell recently announce the FEDS will not be increasing rates in the 1st Quarter 2022.
Kentucky Housing Market Has Been Booming For Past 2 Years
Qualifying for a Mortgage with a Lender With No Overlays
Contact us at Gustan Cho Associates to get qualified and approved for a mortgage with no lender overlays. Kentucky is one of our top states for home purchase home loans. We have zero overlays on government and conventional loans. We also offer non-QM loans and bank statement loans for self-employed borrowers. No income tax returns required. Gustan Cho Associates has a national reputation of being able to approve loans from other lenders please contact us at 800-900-8569 or text us for a faster response. Or email us at firstname.lastname@example.org. The team at Gustan Cho Associates is available 7 days a week, evenings, weekends, and holidays.
April 26, 2021 - 3 min read