Bowling Green FHA Loan Rates, Closing Costs & Stats
BOWLING GREEN, 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.
Bowling Green's 82 lenders originated 775 FHA loans during 2021. The total origination value was $146,745,000, with an average FHA loan value of $189,348.
Bowling Green FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Bowling Green
averaged
6.1%
for the week of 2023-01-27, compared to the national average (all FHA variants) of
6.186% for the same period.
Bowling Green's average FHA mortgage closing costs are $6,009.
The average rate for the prior week (2023-01-20) was
6.17% and
one month ago for the week of 2022-12-23, the
average rate was 6.16%.
The average rate one year ago was 3.95%.
For refis of the same type during the week of 2023-01-27, the average rate
was 6.04%.
Bowling Green 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 Bowling Green level.
The top Bowling Green FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
79 FHA loans originated. Their average total fees are
$5,706, which is $518
lower than the next largest lender,
Republic State Mortgage Co..
The lowest fee Bowling Green FHA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC ($3,968), Mr. Cooper ( Nationstar Mortgage ) ($4,090), LAKEVIEW LOAN SERVICING, LLC ($4,259), RUOFF MORTGAGE COMPANY, INC. ($4,423) and FREEDOM MORTGAGE CORPORATION ($4,729).
The lowest rate Bowling Green FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (2.75%), Magnolia Bank (2.81%), LAKEVIEW LOAN SERVICING, LLC (2.96%), SOUTH CENTRAL BANK, INC. (2.97%) and Republic State Mortgage Co. (2.98%).
Bowling Green FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
BOWLING GREEN, KY | ALLEN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
BOWLING GREEN, KY | BUTLER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
BOWLING GREEN, KY | EDMONSON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
BOWLING GREEN, KY | WARREN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Bowling Green (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $227,450 (0.9%) | $293,805 (2.1%) | 0.84 | 574 |
2018-02-01 | $238,700 (2.7%) | $297,117 (-0.4%) | 0.87 | 561 |
2018-03-01 | $239,900 (-2.4%) | $294,198 (-3.0%) | 0.84 | 574 |
2018-04-01 | $239,900 (-1.5%) | $300,370 (-0.2%) | 0.81 | 590 |
2018-05-01 | $244,625 (-0.8%) | $304,368 (0.0%) | 0.82 | 631 |
2018-06-01 | $257,250 (1.4%) | $309,875 (-0.8%) | 0.86 | 643 |
2018-07-01 | $267,750 (7.1%) | $319,039 (5.9%) | 0.89 | 658 |
2018-08-01 | $269,900 (8.0%) | $322,644 (5.2%) | 0.90 | 695 |
2018-09-01 | $264,900 (10.4%) | $318,026 (4.3%) | 0.89 | 717 |
2018-10-01 | $257,450 (8.7%) | $308,613 (1.2%) | 0.87 | 754 |
2018-11-01 | $249,900 (8.9%) | $300,366 (0.1%) | 0.85 | 778 |
2018-12-01 | $249,900 (13.6%) | $303,311 (4.0%) | 0.86 | 746 |
2019-01-01 | $254,900 (12.1%) | $305,802 (4.1%) | 0.88 | 661 |
2019-02-01 | $258,550 (8.3%) | $306,460 (3.1%) | 0.87 | 683 |
2019-03-01 | $264,186 (10.1%) | $312,960 (6.4%) | 0.86 | 682 |
2019-04-01 | $266,735 (11.2%) | $313,336 (4.3%) | 0.85 | 703 |
2019-05-01 | $269,900 (10.3%) | $314,069 (3.2%) | 0.84 | 744 |
2019-06-01 | $269,900 (4.9%) | $308,874 (-0.3%) | 0.84 | 764 |
2019-07-01 | $261,355 (-2.4%) | $299,670 (-6.1%) | 0.82 | 790 |
2019-08-01 | $253,536 (-6.1%) | $293,800 (-8.9%) | 0.80 | 792 |
2019-09-01 | $251,491 (-5.1%) | $289,401 (-9.0%) | 0.80 | 798 |
2019-10-01 | $249,900 (-2.9%) | $287,769 (-6.8%) | 0.81 | 810 |
2019-11-01 | $249,500 (-0.2%) | $290,774 (-3.2%) | 0.82 | 825 |
2019-12-01 | $249,900 (0.0%) | $299,253 (-1.3%) | 0.83 | 692 |
2020-01-01 | $250,650 (-1.7%) | $299,248 (-2.1%) | 0.84 | 633 |
2020-02-01 | $259,900 (0.5%) | $304,178 (-0.7%) | 0.85 | 616 |
2020-03-01 | $259,900 (-1.6%) | $310,286 (-0.9%) | 0.81 | 591 |
2020-04-01 | $254,200 (-4.7%) | $306,004 (-2.3%) | 0.80 | 605 |
2020-05-01 | $259,900 (-3.7%) | $305,561 (-2.7%) | 0.79 | 582 |
2020-06-01 | $262,925 (-2.6%) | $317,364 (2.8%) | 0.77 | 527 |
2020-07-01 | $269,900 (3.3%) | $319,927 (6.8%) | 0.78 | 478 |
2020-08-01 | $269,900 (6.5%) | $324,545 (10.5%) | 0.77 | 445 |
2020-09-01 | $265,400 (5.5%) | $334,873 (15.7%) | 0.76 | 418 |
2020-10-01 | $262,000 (4.8%) | $334,162 (16.1%) | 0.75 | 389 |
2020-11-01 | $242,450 (-2.8%) | $304,062 (4.6%) | 0.71 | 402 |
2020-12-01 | $239,900 (-4.0%) | $298,715 (-0.2%) | 0.71 | 386 |
2021-01-01 | $249,900 (-0.3%) | $305,654 (2.1%) | 0.75 | 340 |
2021-02-01 | $239,900 (-7.7%) | $302,772 (-0.5%) | 0.70 | 285 |
2021-03-01 | $249,900 (-3.9%) | $309,673 (-0.2%) | 0.71 | 290 |
2021-04-01 | $259,900 (2.2%) | $326,738 (6.8%) | 0.70 | 232 |
2021-05-01 | $262,400 (1.0%) | $351,412 (15.0%) | 0.69 | 227 |
2021-06-01 | $264,900 (0.8%) | $354,535 (11.7%) | 0.70 | 239 |
2021-07-01 | $269,900 (0.0%) | $368,098 (15.1%) | 0.71 | 290 |
2021-08-01 | $282,425 (4.6%) | $369,849 (14.0%) | 0.75 | 323 |
2021-09-01 | $279,850 (5.4%) | $368,875 (10.2%) | 0.75 | 349 |
2021-10-01 | $279,900 (6.8%) | $373,936 (11.9%) | 0.75 | 361 |
2021-11-01 | $292,450 (20.6%) | $378,130 (24.4%) | 0.78 | 362 |
2021-12-01 | $296,875 (23.8%) | $377,545 (26.4%) | 0.80 | 317 |
2022-01-01 | $289,900 (16.0%) | $376,257 (23.1%) | 0.78 | 255 |
2022-02-01 | $294,900 (22.9%) | $369,563 (22.1%) | 0.77 | 229 |
2022-03-01 | $297,400 (19.0%) | $393,737 (27.2%) | 0.74 | 190 |
2022-04-01 | $307,900 (18.5%) | $401,465 (22.9%) | 0.73 | 203 |
2022-05-01 | $303,400 (15.6%) | $398,884 (13.5%) | 0.69 | 228 |
2022-06-01 | $324,826 (22.6%) | $399,242 (12.6%) | 0.72 | 273 |
2022-07-01 | $329,900 (22.2%) | $394,731 (7.2%) | 0.75 | 356 |
2022-08-01 | $332,450 (17.7%) | $396,381 (7.2%) | 0.77 | 359 |
2022-09-01 | $337,066 (20.5%) | $397,280 (7.7%) | 0.79 | 362 |
2022-10-01 | $334,900 (19.7%) | $407,306 (8.9%) | 0.79 | 403 |
2022-11-01 | $328,623 (12.4%) | $654,282 (73.0%) | 0.79 | 441 |
2022-12-01 | $314,950 (6.1%) | $383,455 (1.6%) | 0.79 | 441 |
Bowling Green's median listing price comes in at 79% of the national average.
Bowling Green's average listing price for 2022-12-01 was $383,455, a difference of $5,910 (1.6%) versus the prior year and $-270,827 versus the prior month.
For the 2022-12-01 period, Bowling Green had 441 MLS listings, a difference of 0 listings (0%) versus the prior month and 124 listings (39%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Bowling Green (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 95 days | 1,998 sqft |
2018-02-01 | 99 days | 2,003 sqft |
2018-03-01 | 74 days | 2,002 sqft |
2018-04-01 | 65 days | 2,064 sqft |
2018-05-01 | 63 days | 2,082 sqft |
2018-06-01 | 60 days | 2,180 sqft |
2018-07-01 | 61 days | 2,216 sqft |
2018-08-01 | 65 days | 2,284 sqft |
2018-09-01 | 72 days | 2,263 sqft |
2018-10-01 | 74 days | 2,196 sqft |
2018-11-01 | 76 days | 2,122 sqft |
2018-12-01 | 87 days | 2,100 sqft |
2019-01-01 | 90 days | 2,100 sqft |
2019-02-01 | 89 days | 2,100 sqft |
2019-03-01 | 84 days | 2,146 sqft |
2019-04-01 | 78 days | 2,169 sqft |
2019-05-01 | 65 days | 2,176 sqft |
2019-06-01 | 61 days | 2,180 sqft |
2019-07-01 | 65 days | 2,162 sqft |
2019-08-01 | 66 days | 2,093 sqft |
2019-09-01 | 69 days | 2,066 sqft |
2019-10-01 | 72 days | 2,052 sqft |
2019-11-01 | 72 days | 2,036 sqft |
2019-12-01 | 83 days | 2,013 sqft |
2020-01-01 | 99 days | 2,016 sqft |
2020-02-01 | 102 days | 2,043 sqft |
2020-03-01 | 81 days | 2,072 sqft |
2020-04-01 | 71 days | 2,028 sqft |
2020-05-01 | 77 days | 2,008 sqft |
2020-06-01 | 80 days | 2,050 sqft |
2020-07-01 | 78 days | 2,060 sqft |
2020-08-01 | 72 days | 2,074 sqft |
2020-09-01 | 60 days | 2,047 sqft |
2020-10-01 | 61 days | 2,000 sqft |
2020-11-01 | 54 days | 1,851 sqft |
2020-12-01 | 61 days | 1,834 sqft |
2021-01-01 | 78 days | 1,853 sqft |
2021-02-01 | 70 days | 1,787 sqft |
2021-03-01 | 47 days | 1,829 sqft |
2021-04-01 | 44 days | 1,809 sqft |
2021-05-01 | 40 days | 1,858 sqft |
2021-06-01 | 36 days | 1,793 sqft |
2021-07-01 | 32 days | 1,843 sqft |
2021-08-01 | 33 days | 1,899 sqft |
2021-09-01 | 38 days | 1,907 sqft |
2021-10-01 | 45 days | 1,863 sqft |
2021-11-01 | 53 days | 1,936 sqft |
2021-12-01 | 53 days | 1,982 sqft |
2022-01-01 | 66 days | 1,850 sqft |
2022-02-01 | 52 days | 1,813 sqft |
2022-03-01 | 39 days | 1,821 sqft |
2022-04-01 | 26 days | 1,841 sqft |
2022-05-01 | 32 days | 1,854 sqft |
2022-06-01 | 32 days | 1,963 sqft |
2022-07-01 | 36 days | 2,006 sqft |
2022-08-01 | 48 days | 1,942 sqft |
2022-09-01 | 49 days | 1,954 sqft |
2022-10-01 | 46 days | 1,985 sqft |
2022-11-01 | 52 days | 1,954 sqft |
2022-12-01 | 67 days | 1,942 sqft |
Bowling Green's median square footage for active listings during the 2022-12-01 period was 1,942 sqft. One year prior, the average listing was 1,982 sqft.