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 61 lenders originated 255 FHA loans during 2024. The total origination value was $60,515,000, with an average FHA loan value of $237,314.

Bardstown FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Bardstown averaged 0.26% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

Bardstown's average FHA mortgage closing costs are $7,139.

The average rate for the prior week (2025-06-13) was 6.85% and one month ago for the week of 2025-05-16, the average rate was 6.61%.

The average rate one year ago was 6.76%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.41%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 29 6.27% $10,611
QUICKEN LOANS, LLC 17 6.59% $10,316
FREEDOM MORTGAGE CORPORATION 13 6.46% $10,973
STOCKTON MORTGAGE CORPORATION 13 6.55% $10,069
SUCCESS MORTGAGE PARTNERS, INC. 12 6.23% $10,544
Northpointe Bank 12 6.35% $9,921
BROKER SOLUTIONS, INC. 11 6.72% $9,665
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 6.74% $10,020
RUOFF MORTGAGE COMPANY, INC. 9 6.65% $6,432
Prosperity Home Mortgage, LLC 8 5.89% $10,733
PENNYMAC LOAN SERVICES, LLC 7 6.34% $7,982
Magnolia Bank 7 6.48% $9,079
EVERETT FINANCIAL, INC. 6 6.50% $9,952
ENVOY MORTGAGE, LTD 6 6.60% $11,663
T2 FINANCIAL LLC 4 6.97% $11,655
SOUTH CENTRAL BANK, INC. 4 5.78% $7,768
Stock Yards Bank & Trust Company 4 6.56% $9,971
Century Mortgage Company DBA Century Lending Company 4 6.13% $9,687
UNION HOME MORTGAGE CORP. 3 6.13% $8,449
LEADERONE FINANCIAL CORPORATION 3 6.67% $8,322
EVANSVILLE TEACHERS 3 6.46% $10,520
INTERLINC MORTGAGE SERVICES, LLC 3 6.63% $7,700
Mortgage Research Center, LLC 3 7.58% $7,429
LAKEVIEW LOAN SERVICING, LLC 3 6.08% $10,183
Flagstar Bank, FSB 3 6.61% $9,627
Equity Prime Mortgage LLC 3 7.13% $11,505
THE MORTGAGE WAREHOUSE,LLC 2 6.87% $7,744
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.62% $11,184
GENEVA FINANCIAL, LLC 2 6.31% $9,745
HOMESIDE FINANCIAL, LLC 2 6.50% $8,773
LOANDEPOT.COM, LLC 2 6.56% $7,461
NEWREZ LLC 2 6.19% $11,068
AMERICAN FINANCIAL RESOURCES, INC. 2 6.63% $10,325
VICTORY MORTGAGE, L.L.C. 1 6.25% $7,187
Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $6,423
Paramount Residential Mortgage Group, Inc. 1 6.99% $10,489
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.63% $12,613
Plains Commerce Bank 1 7.00% $7,203
PLANET HOME LENDING, LLC 1 5.99% $5,873
PLAZA HOME MORTGAGE, INC. 1 6.38% $4,727
PREMIER LENDING, INC. 1 5.63% $10,856
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.13% $7,461
MID AMERICA MORTGAGE, INC. 1 5.63% $8,989
ISERVE RESIDENTIAL LENDING, LLC 1 6.13% $7,038
Republic Bank & Trust Company 1 6.50% $6,665
ROYAL UNITED MORTGAGE LLC 1 6.75% $5,153
GVC MORTGAGE, INC. 1 6.75% $15,036
First Harrison Bank 1 6.00% $7,833
CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $8,938
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.88% $9,387
Carrington Mortgage Services, LLC 1 6.50% $8,230
SUN WEST MORTGAGE COMPANY, INC. 1 6.50% $8,344
BAY EQUITY LLC 1 6.00% $8,208
WesBanco 1 6.00% $11,256
Traditional Bank, Inc. 1 6.25% $10,515
AmRes Corporation 1 7.13% $8,196
AMERICAN FINANCING CORPORATION 1 5.88% $11,505
U.S. Bank 1 6.13% $14,867
VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.25% $8,187
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.63% $12,186
Nations Lending Corporation 1 6.00% $23,971

The top Bardstown FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 29 FHA loans originated. Their average total fees are $10,611, which is $295 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Bardstown FHA lenders (with over 10 loans originated) are BROKER SOLUTIONS, INC. ($9,665), Northpointe Bank ($9,921), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($10,020), STOCKTON MORTGAGE CORPORATION ($10,069) and QUICKEN LOANS, LLC ($10,316).

The lowest rate Bardstown FHA lenders (with over 10 loans originated) are SUCCESS MORTGAGE PARTNERS, INC. (6.23%), UNITED WHOLESALE MORTGAGE, LLC (6.27%), Northpointe Bank (6.35%), FREEDOM MORTGAGE CORPORATION (6.46%) and STOCKTON MORTGAGE CORPORATION (6.55%).

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

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).