Bardstown FHA Loan Rates, Closing Costs & Stats

Bardstown, KY

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 60 lenders originated 225 FHA loans during 2022. The total origination value was $47,225,000, with an average FHA loan value of $209,889.

Bardstown FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Bardstown averaged 6.02% for the week of 2024-03-01, compared to the national average (all FHA variants) of 6.688% for the same period.

Bardstown's average FHA mortgage closing costs are $6,178.

The average rate for the prior week (2024-02-23) was 6.21% and one month ago for the week of 2024-01-26, the average rate was 6.2%.

The average rate one year ago was 5.93%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.5%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 24 5.05% $8,670
QUICKEN LOANS, LLC 21 4.60% $9,803
Citizens Bank 12 4.69% $7,732
STOCKTON MORTGAGE CORPORATION 12 4.74% $8,470
Magnolia Bank 9 3.99% $6,907
FREEDOM MORTGAGE CORPORATION 9 4.36% $10,169
EVERETT FINANCIAL, INC. 8 5.09% $6,009
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 4.84% $8,279
HOME POINT FINANCIAL CORPORATION 6 4.83% $6,861
AMERICAN MORTGAGE SERVICE COMPANY 5 5.20% $6,277
RUOFF MORTGAGE COMPANY, INC. 5 5.35% $4,787
Northpointe Bank 5 5.40% $9,087
CMG MORTGAGE, INC. 4 4.50% $7,438
Mr. Cooper ( Nationstar Mortgage ) 4 4.31% $12,040
AMERIFIRST FINANCIAL CORPORATION 4 5.13% $7,789
Stock Yards Bank & Trust Company 3 5.13% $7,137
SOUTH CENTRAL BANK, INC. 3 5.08% $7,127
ENVOY MORTGAGE, LTD 3 5.21% $8,570
CROSSCOUNTRY MORTGAGE, LLC 3 6.50% $9,682
AMERISAVE MORTGAGE CORPORATION 3 4.67% $9,734
Carrington Mortgage Services, LLC 3 4.75% $11,358
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 4.58% $8,119
LOANDEPOT.COM, LLC 3 5.62% $8,014
PNC Bank 3 5.29% $5,742
Fifth Third Bank 2 4.88% $5,881
BROKER SOLUTIONS, INC. 2 4.55% $7,137
CALIBER HOME LOANS, INC. 2 5.09% $8,230
CARDINAL FINANCIAL 2 3.38% $9,406
Century Mortgage Company DBA Century Lending Company 2 5.25% $9,528
EVANSVILLE TEACHERS 2 4.13% $7,245
GENEVA FINANCIAL, LLC 2 3.44% $4,665
Hometown Lenders, Inc. 2 3.94% $7,880
INTERLINC MORTGAGE SERVICES, LLC 2 5.13% $7,149
MOVEMENT MORTGAGE, LLC 2 4.69% $7,467
NEWREZ LLC 2 4.50% $10,892
Paramount Residential Mortgage Group, Inc. 2 5.25% $13,408
PENNYMAC LOAN SERVICES, LLC 2 3.50% $4,175
Prosperity Home Mortgage, LLC 2 5.88% $4,671
Republic Bank & Trust Company 2 5.00% $8,521
THRIVE MORTGAGE, LLC 2 4.13% $8,540
WesBanco 2 5.06% $7,567
First Harrison Bank 1 4.75% $5,633
PANORAMA MORTGAGE GROUP, LLC 1 4.25% $13,629
DRAPER AND KRAMER MORTGAGE CORP. 1 6.00% $5,616
DAS Acquisition Company, LLC 1 6.38% $13,472
AMERICAN FINANCING CORPORATION 1 4.75% $12,063
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.63% $9,228
VICTORY MORTGAGE, L.L.C. 1 4.88% $6,048
FBC MORTGAGE, LLC 1 3.38% $8,136
RELIANCE FIRST CAPITAL, LLC 1 3.88% $7,091
BETTER MORTGAGE CORPORATION 1 5.75% $14,930
Republic State Mortgage Co. 1 5.75% $6,526
JPMorgan Chase Bank 1 5.75% $4,570
HOMESIDE FINANCIAL, LLC 1 6.25% $14,365
German American Bank 1 3.75% $6,338
FAIR WAY LENDING LLC 1 5.25% $3,252
Flagstar Bank, FSB 1 5.25% $10,245
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $9,111
EMM LOANS LLC 1 6.13% $16,628
North American Savings Bank, F.S.B. 1 4.75% $3,932

The top Bardstown FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 24 FHA loans originated. Their average total fees are $8,670, which is $1,133 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Bardstown FHA lenders (with over 10 loans originated) are Citizens Bank ($7,732), STOCKTON MORTGAGE CORPORATION ($8,470), UNITED WHOLESALE MORTGAGE, LLC ($8,670), QUICKEN LOANS, LLC ($9,803) and .

The lowest rate Bardstown FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.60%), Citizens Bank (4.69%), STOCKTON MORTGAGE CORPORATION (4.74%), UNITED WHOLESALE MORTGAGE, LLC (5.05%) 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
Bardstown's median listing price for 2024-01-01 was $308,675, a difference of $17,475 (6.0%) versus the prior year and $3,675 versus the prior month.

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

Bardstown's average listing price for 2024-01-01 was $362,872, a difference of $34,216 (10.4%) versus the prior year and $5,472 versus the prior month.

For the 2024-01-01 period, Bardstown had 132 MLS listings, a difference of -13 listings (-9%) versus the prior month and 7 listings (6%) 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
Bardstown's median listing age (time on market) for 2024-01-01 was 0 days.

Bardstown's median square footage for active listings during the 2024-01-01 period was 1,529 sqft. One year prior, the average listing was 1,541 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).