Bardstown FHA Loan Rates, Closing Costs & Stats

Bardstown, KY

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Bardstown's 49 lenders originated 190 FHA loans during 2023. The total origination value was $41,190,000, with an average FHA loan value of $216,789.

    Bardstown FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Bardstown averaged 6.38% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Bardstown's average FHA mortgage closing costs are $6,655.

    The average rate for the prior week (2024-12-06) was 6.45% and one month ago for the week of 2024-11-08, the average rate was 6.51%.

    The average rate one year ago was 6.82%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Bardstown FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bardstown level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 23 6.34% $10,314
    STOCKTON MORTGAGE CORPORATION 17 6.53% $10,240
    Northpointe Bank 11 6.53% $8,871
    UNITED WHOLESALE MORTGAGE, LLC 11 6.35% $8,865
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.54% $8,935
    FREEDOM MORTGAGE CORPORATION 9 6.65% $13,101
    RUOFF MORTGAGE COMPANY, INC. 7 6.82% $7,642
    Magnolia Bank 7 6.45% $7,821
    Prosperity Home Mortgage, LLC 6 6.63% $8,468
    Carrington Mortgage Services, LLC 6 6.31% $11,538
    Citizens Bank 5 6.40% $7,305
    EVERETT FINANCIAL, INC. 5 6.85% $11,968
    THRIVE MORTGAGE, LLC 3 6.71% $8,219
    CARDINAL FINANCIAL 3 5.96% $8,077
    SOUTH CENTRAL BANK, INC. 3 6.79% $7,080
    First Harrison Bank 3 6.83% $9,766
    Century Mortgage Company DBA Century Lending Company 3 6.13% $15,214
    PENNYMAC LOAN SERVICES, LLC 3 5.83% $8,510
    Stock Yards Bank & Trust Company 3 6.38% $7,600
    WesBanco 3 6.17% $8,464
    SUCCESS MORTGAGE PARTNERS, INC. 3 6.41% $11,492
    AMERICAN FINANCIAL RESOURCES, INC. 2 7.19% $8,869
    Central Bank 2 6.25% $6,374
    EMM LOANS LLC 2 6.50% $8,972
    Equity Prime Mortgage LLC 2 7.25% $12,553
    LAKEVIEW LOAN SERVICING, LLC 2 6.13% $13,661
    LEADERONE FINANCIAL CORPORATION 2 6.38% $10,269
    Mr. Cooper ( Nationstar Mortgage ) 2 6.31% $13,585
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.50% $8,179
    NEWREZ LLC 2 6.63% $8,444
    PLAZA HOME MORTGAGE, INC. 2 5.94% $7,530
    Mortgage Research Center, LLC 1 7.13% $10,790
    LOANDEPOT.COM, LLC 1 6.63% $8,368
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.25% $10,650
    PNC Bank 1 7.13% $5,478
    HOMESIDE FINANCIAL, LLC 1 6.75% $7,793
    GUARANTEED RATE, INC. 1 7.75% $8,641
    RELIANCE FIRST CAPITAL, LLC 1 6.88% $10,347
    Flagstar Bank, FSB 1 7.25% $10,403
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.75% $11,482
    ENDEAVOR CAPITAL, LLC. 1 6.38% $13,259
    DRAPER AND KRAMER MORTGAGE CORP. 1 7.25% $6,419
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $13,831
    THE MORTGAGE WAREHOUSE,LLC 1 6.13% $6,819
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 7.25% $11,781
    TOP FLITE FINANCIAL, INC. 1 7.25% $9,759
    Traditional Bank, Inc. 1 5.75% $8,754
    NBKC BANK 1 6.25% $13,019
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 7.25% $12,287

    The top Bardstown FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 23 FHA loans originated. Their average total fees are $10,314, which is $74 higher than the next largest lender, STOCKTON MORTGAGE CORPORATION.

    The lowest fee Bardstown FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($8,865), Northpointe Bank ($8,871), STOCKTON MORTGAGE CORPORATION ($10,240), QUICKEN LOANS, LLC ($10,314) and .

    The lowest rate Bardstown FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.34%), UNITED WHOLESALE MORTGAGE, LLC (6.35%), STOCKTON MORTGAGE CORPORATION (6.53%), Northpointe Bank (6.53%) and .

    Bardstown FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    BARDSTOWN, KY NELSON 2022 $420,680 $538,650 $651,050 $809,150
    BARDSTOWN, KY NELSON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Bardstown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $185,000 (6.4%) $218,108 (0.0%) 0.00 154
    2018-02-01 $183,900 (7.4%) $213,216 (-0.7%) 0.00 156
    2018-03-01 $199,900 (12.7%) $235,839 (6.2%) 0.00 140
    2018-04-01 $199,923 (7.5%) $238,378 (0.5%) 0.00 143
    2018-05-01 $199,900 (5.5%) $242,985 (6.0%) 0.00 142
    2018-06-01 $205,000 (13.9%) $248,361 (7.9%) 0.00 159
    2018-07-01 $216,200 (5.5%) $249,654 (7.9%) 0.00 159
    2018-08-01 $219,900 (10.2%) $254,819 (15.1%) 0.00 165
    2018-09-01 $217,450 (7.4%) $241,761 (8.8%) 0.00 163
    2018-10-01 $194,825 (1.2%) $232,945 (3.1%) 0.00 168
    2018-11-01 $184,950 (-0.9%) $230,306 (0.9%) 0.00 171
    2018-12-01 $179,900 (-3.8%) $224,743 (-0.8%) 0.00 173
    2019-01-01 $182,325 (-1.5%) $223,496 (2.5%) 0.00 180
    2019-02-01 $195,650 (6.4%) $240,171 (12.6%) 0.00 167
    2019-03-01 $204,329 (2.2%) $246,556 (4.5%) 0.00 158
    2019-04-01 $204,829 (2.5%) $248,298 (4.2%) 0.00 154
    2019-05-01 $215,925 (8.0%) $252,700 (4.0%) 0.00 154
    2019-06-01 $214,500 (4.6%) $247,552 (-0.3%) 0.00 172
    2019-07-01 $208,950 (-3.4%) $241,916 (-3.1%) 0.00 171
    2019-08-01 $203,209 (-7.6%) $230,690 (-9.5%) 0.00 173
    2019-09-01 $190,098 (-12.6%) $220,780 (-8.7%) 0.00 173
    2019-10-01 $179,975 (-7.6%) $217,999 (-6.4%) 0.00 176
    2019-11-01 $179,900 (-2.7%) $229,262 (-0.5%) 0.00 178
    2019-12-01 $172,900 (-3.9%) $223,165 (-0.7%) 0.00 167
    2020-01-01 $174,950 (-4.0%) $223,081 (-0.2%) 0.00 151
    2020-02-01 $175,950 (-10.1%) $233,365 (-2.8%) 0.00 126
    2020-03-01 $182,625 (-10.6%) $236,968 (-3.9%) 0.00 130
    2020-04-01 $196,250 (-4.2%) $243,648 (-1.9%) 0.00 121
    2020-05-01 $221,050 (2.4%) $253,062 (0.1%) 0.00 109
    2020-06-01 $235,000 (9.6%) $276,388 (11.7%) 0.00 96
    2020-07-01 $262,175 (25.5%) $292,252 (20.8%) 0.00 79
    2020-08-01 $279,000 (37.3%) $301,157 (30.6%) 0.00 71
    2020-09-01 $267,925 (40.9%) $317,529 (43.8%) 0.00 72
    2020-10-01 $264,225 (46.8%) $308,883 (41.7%) 0.00 80
    2020-11-01 $245,000 (36.2%) $278,864 (21.6%) 0.00 88
    2020-12-01 $244,925 (41.7%) $272,331 (22.0%) 0.00 84
    2021-01-01 $239,000 (36.6%) $264,290 (18.5%) 0.00 75
    2021-02-01 $239,900 (36.4%) $273,775 (17.3%) 0.00 49
    2021-03-01 $235,550 (29.0%) $307,844 (29.9%) 0.00 39
    2021-04-01 $228,200 (16.3%) $377,638 (55.0%) 0.00 36
    2021-05-01 $292,500 (32.3%) $461,132 (82.2%) 0.00 31
    2021-06-01 $270,950 (15.3%) $378,177 (36.8%) 0.00 49
    2021-07-01 $285,000 (8.7%) $374,791 (28.2%) 0.00 63
    2021-08-01 $258,175 (-7.5%) $327,870 (8.9%) 0.00 86
    2021-09-01 $272,400 (1.7%) $345,269 (8.7%) 0.00 87
    2021-10-01 $269,950 (2.2%) $334,001 (8.1%) 0.00 91
    2021-11-01 $272,475 (11.2%) $335,734 (20.4%) 0.00 94
    2021-12-01 $267,475 (9.2%) $341,466 (25.4%) 0.00 83
    2022-01-01 $299,900 (25.5%) $364,973 (38.1%) 0.00 69
    2022-02-01 $289,975 (20.9%) $351,132 (28.3%) 0.00 58
    2022-03-01 $309,838 (31.5%) $364,567 (18.4%) 0.00 54
    2022-04-01 $349,900 (53.3%) $386,651 (2.4%) 0.00 53
    2022-05-01 $299,950 (2.6%) $358,312 (-22.3%) 0.00 83
    2022-06-01 $289,950 (7.0%) $334,909 (-11.4%) 0.00 98
    2022-07-01 $289,950 (1.7%) $317,690 (-15.2%) 0.00 134
    2022-08-01 $287,425 (11.3%) $319,366 (-2.6%) 0.00 152
    2022-09-01 $293,700 (7.8%) $322,986 (-6.5%) 0.00 152
    2022-10-01 $289,000 (7.1%) $316,637 (-5.2%) 0.00 171
    2022-11-01 $284,950 (4.6%) $307,077 (-8.5%) 0.00 169
    2022-12-01 $284,950 (6.5%) $306,204 (-10.3%) 0.00 142
    2023-01-01 $291,200 (-2.9%) $328,656 (-10.0%) 0.00 125
    2023-02-01 $289,938 (0.0%) $326,933 (-6.9%) 0.00 116
    2023-03-01 $289,938 (-6.4%) $321,845 (-11.7%) 0.00 112
    2023-04-01 $285,425 (-18.4%) $325,561 (-15.8%) 0.00 101
    2023-05-01 $289,950 (-3.3%) $351,470 (-1.9%) 0.00 110
    2023-06-01 $289,950 (0.0%) $338,478 (1.1%) 0.00 120
    2023-07-01 $289,950 (0.0%) $336,983 (6.1%) 0.00 98
    2023-08-01 $297,450 (3.5%) $328,319 (2.8%) 0.00 105
    2023-09-01 $314,900 (7.2%) $338,991 (5.0%) 0.00 114
    2023-10-01 $324,963 (12.4%) $345,992 (9.3%) 0.00 126
    2023-11-01 $309,988 (8.8%) $342,425 (11.5%) 0.00 132
    2023-12-01 $305,000 (7.0%) $357,400 (16.7%) 0.00 145
    2024-01-01 $308,675 (6.0%) $362,872 (10.4%) 0.00 132
    2024-02-01 $306,175 (5.6%) $364,932 (11.6%) 0.00 134
    2024-03-01 $314,900 (8.6%) $348,803 (8.4%) 0.00 116
    2024-04-01 $313,675 (9.9%) $350,058 (7.5%) 0.00 119
    2024-05-01 $299,900 (3.4%) $349,085 (-0.7%) 0.00 133
    2024-06-01 $299,900 (3.4%) $342,546 (1.2%) 0.00 131
    2024-07-01 $294,925 (1.7%) $342,022 (1.5%) 0.00 143
    2024-08-01 $299,900 (0.8%) $356,803 (8.7%) 0.00 158
    2024-09-01 $299,900 (-4.8%) $365,932 (8.0%) 0.00 153
    2024-10-01 $299,900 (-7.7%) $365,818 (5.7%) 0.00 149
    2024-11-01 $289,950 (-6.5%) $357,467 (4.4%) 0.00 151
    Bardstown's median listing price for 2024-11-01 was $289,950, a difference of $-20,038 (-6.5%) versus the prior year and $-9,950 versus the prior month.

    Bardstown's median listing price comes in at 0% of the national average.

    Bardstown's average listing price for 2024-11-01 was $357,467, a difference of $15,042 (4.4%) versus the prior year and $-8,351 versus the prior month.

    For the 2024-11-01 period, Bardstown had 151 MLS listings, a difference of 2 listings (1%) versus the prior month and 19 listings (14%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Bardstown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,767 sqft
    2018-02-01 0 days 1,677 sqft
    2018-03-01 0 days 1,760 sqft
    2018-04-01 0 days 1,787 sqft
    2018-05-01 0 days 1,751 sqft
    2018-06-01 0 days 1,792 sqft
    2018-07-01 0 days 1,927 sqft
    2018-08-01 0 days 1,934 sqft
    2018-09-01 0 days 1,795 sqft
    2018-10-01 0 days 1,689 sqft
    2018-11-01 0 days 1,637 sqft
    2018-12-01 0 days 1,558 sqft
    2019-01-01 0 days 1,550 sqft
    2019-02-01 0 days 1,669 sqft
    2019-03-01 0 days 1,689 sqft
    2019-04-01 0 days 1,683 sqft
    2019-05-01 0 days 1,785 sqft
    2019-06-01 0 days 1,800 sqft
    2019-07-01 0 days 1,797 sqft
    2019-08-01 0 days 1,686 sqft
    2019-09-01 0 days 1,536 sqft
    2019-10-01 0 days 1,442 sqft
    2019-11-01 0 days 1,478 sqft
    2019-12-01 0 days 1,400 sqft
    2020-01-01 0 days 1,400 sqft
    2020-02-01 0 days 1,500 sqft
    2020-03-01 0 days 1,620 sqft
    2020-04-01 0 days 1,651 sqft
    2020-05-01 0 days 1,745 sqft
    2020-06-01 0 days 1,794 sqft
    2020-07-01 0 days 1,864 sqft
    2020-08-01 0 days 1,869 sqft
    2020-09-01 0 days 1,900 sqft
    2020-10-01 0 days 1,748 sqft
    2020-11-01 0 days 1,671 sqft
    2020-12-01 0 days 1,653 sqft
    2021-01-01 0 days 1,659 sqft
    2021-02-01 0 days 1,731 sqft
    2021-03-01 0 days 1,841 sqft
    2021-04-01 0 days 1,825 sqft
    2021-05-01 0 days 2,168 sqft
    2021-06-01 0 days 1,884 sqft
    2021-07-01 0 days 1,805 sqft
    2021-08-01 0 days 1,751 sqft
    2021-09-01 0 days 1,773 sqft
    2021-10-01 0 days 1,800 sqft
    2021-11-01 0 days 1,764 sqft
    2021-12-01 0 days 1,728 sqft
    2022-01-01 0 days 1,800 sqft
    2022-02-01 0 days 1,764 sqft
    2022-03-01 0 days 1,800 sqft
    2022-04-01 0 days 1,762 sqft
    2022-05-01 0 days 1,676 sqft
    2022-06-01 0 days 1,645 sqft
    2022-07-01 0 days 1,500 sqft
    2022-08-01 0 days 1,517 sqft
    2022-09-01 0 days 1,592 sqft
    2022-10-01 0 days 1,524 sqft
    2022-11-01 0 days 1,525 sqft
    2022-12-01 0 days 1,510 sqft
    2023-01-01 0 days 1,541 sqft
    2023-02-01 0 days 1,522 sqft
    2023-03-01 0 days 1,503 sqft
    2023-04-01 0 days 1,503 sqft
    2023-05-01 0 days 1,522 sqft
    2023-06-01 0 days 1,522 sqft
    2023-07-01 0 days 1,524 sqft
    2023-08-01 0 days 1,551 sqft
    2023-09-01 0 days 1,650 sqft
    2023-10-01 0 days 1,652 sqft
    2023-11-01 0 days 1,591 sqft
    2023-12-01 0 days 1,529 sqft
    2024-01-01 0 days 1,529 sqft
    2024-02-01 0 days 1,528 sqft
    2024-03-01 0 days 1,562 sqft
    2024-04-01 0 days 1,561 sqft
    2024-05-01 0 days 1,564 sqft
    2024-06-01 0 days 1,564 sqft
    2024-07-01 0 days 1,534 sqft
    2024-08-01 0 days 1,552 sqft
    2024-09-01 0 days 1,580 sqft
    2024-10-01 0 days 1,574 sqft
    2024-11-01 0 days 1,522 sqft
    Bardstown's median listing age (time on market) for 2024-11-01 was 0 days.

    Bardstown's median square footage for active listings during the 2024-11-01 period was 1,522 sqft. One year prior, the average listing was 1,591 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).