Danville FHA Loan Rates, Closing Costs & Stats

Danville, 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.

    Danville's 42 lenders originated 168 FHA loans during 2024. The total origination value was $32,720,000, with an average FHA loan value of $194,762.

    Danville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Danville averaged 6.51% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Danville's average FHA mortgage closing costs are $6,806.

    The average rate for the prior week (2025-03-28) was 6.4% and one month ago for the week of 2025-02-28, the average rate was 6.69%.

    The average rate one year ago was 6.81%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.29%.

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

    Danville 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 Danville level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    BROKER SOLUTIONS, INC. 26 6.51% $9,690
    Republic State Mortgage Co. 20 6.70% $8,305
    QUICKEN LOANS, LLC 14 6.54% $9,209
    GENEVA FINANCIAL, LLC 10 6.45% $8,624
    STOCKTON MORTGAGE CORPORATION 9 6.72% $9,367
    T2 FINANCIAL LLC 7 5.68% $9,342
    FREEDOM MORTGAGE CORPORATION 6 6.46% $7,417
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.66% $6,066
    GoPrime Mortgage, Inc. 4 6.91% $9,806
    PENNYMAC LOAN SERVICES, LLC 4 6.19% $8,250
    RUOFF MORTGAGE COMPANY, INC. 4 6.59% $6,568
    UNION HOME MORTGAGE CORP. 3 7.00% $10,668
    Ixonia Bank 3 6.54% $11,437
    UNITED WHOLESALE MORTGAGE, LLC 3 6.68% $9,784
    Mortgage Research Center, LLC 2 6.69% $4,311
    POLARIS HOME FUNDING CORP. 2 6.94% $7,783
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.44% $11,570
    PLANET HOME LENDING, LLC 2 6.56% $10,463
    Equity Prime Mortgage LLC 2 7.50% $9,273
    Truist 1 6.60% $5,842
    U.S. Bank 1 6.75% $6,815
    VILLAGE CAPITAL MORTGAGE 1 5.38% $9,555
    AMERISAVE MORTGAGE CORPORATION 1 6.00% $13,064
    WesBanco 1 5.63% $8,605
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.25% $10,959
    Bank of England 1 6.75% $9,117
    CARDINAL FINANCIAL 1 6.25% $8,973
    CHURCHILL MORTGAGE CORPORATION 1 6.50% $14,240
    CROSSCOUNTRY MORTGAGE, LLC 1 6.19% $12,819
    EMBRACE HOME LOANS, INC. 1 6.75% $6,623
    ENDEAVOR CAPITAL, LLC. 1 6.49% $6,790
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.50% $5,346
    LOANDEPOT.COM, LLC 1 6.63% $10,236
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $8,437
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.63% $14,193
    NATIONS DIRECT MORTGAGE, LLC 1 7.25% $13,773
    Northpointe Bank 1 6.50% $6,181
    PNC Bank 1 7.13% $5,409
    Renasant Bank 1 6.63% $4,676
    ROYAL UNITED MORTGAGE LLC 1 7.25% $10,388
    SOUTH CENTRAL BANK, INC. 1 6.50% $8,919
    TOWNE MORTGAGE COMPANY 1 6.49% $6,705

    The top Danville FHA lender as defined by loan originations is BROKER SOLUTIONS, INC., with 26 FHA loans originated. Their average total fees are $9,690, which is $1,386 higher than the next largest lender, Republic State Mortgage Co..

    The lowest fee Danville FHA lenders (with over 10 loans originated) are Republic State Mortgage Co. ($8,305), GENEVA FINANCIAL, LLC ($8,624), QUICKEN LOANS, LLC ($9,209), BROKER SOLUTIONS, INC. ($9,690) and .

    The lowest rate Danville FHA lenders (with over 10 loans originated) are GENEVA FINANCIAL, LLC (6.45%), BROKER SOLUTIONS, INC. (6.51%), QUICKEN LOANS, LLC (6.54%), Republic State Mortgage Co. (6.70%) and .

    Danville FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Danville (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 $165,000 (23.2%) $241,891 (26.2%) 0.00 198
    2018-02-01 $170,425 (30.2%) $242,533 (25.1%) 0.00 204
    2018-03-01 $168,700 (28.9%) $236,908 (21.8%) 0.00 208
    2018-04-01 $186,450 (38.4%) $241,814 (22.0%) 0.00 208
    2018-05-01 $189,950 (19.1%) $246,182 (16.0%) 0.00 230
    2018-06-01 $184,500 (15.4%) $237,007 (9.2%) 0.00 244
    2018-07-01 $179,900 (12.5%) $238,793 (2.7%) 0.00 244
    2018-08-01 $180,450 (12.8%) $246,615 (8.8%) 0.00 228
    2018-09-01 $174,450 (10.1%) $241,817 (6.6%) 0.00 226
    2018-10-01 $166,325 (-0.7%) $230,661 (-4.2%) 0.00 231
    2018-11-01 $172,200 (1.7%) $228,824 (-8.6%) 0.00 226
    2018-12-01 $159,900 (-3.7%) $224,662 (-8.6%) 0.00 218
    2019-01-01 $159,900 (-3.1%) $215,364 (-11.0%) 0.00 204
    2019-02-01 $159,900 (-6.2%) $217,032 (-10.5%) 0.00 211
    2019-03-01 $164,186 (-2.7%) $224,304 (-5.3%) 0.00 216
    2019-04-01 $172,425 (-7.5%) $237,125 (-1.9%) 0.00 216
    2019-05-01 $179,900 (-5.3%) $245,555 (-0.3%) 0.00 207
    2019-06-01 $185,950 (0.8%) $241,610 (1.9%) 0.00 211
    2019-07-01 $186,450 (3.6%) $242,670 (1.6%) 0.00 213
    2019-08-01 $177,186 (-1.8%) $243,745 (-1.2%) 0.00 214
    2019-09-01 $173,116 (-0.8%) $243,410 (0.7%) 0.00 209
    2019-10-01 $172,127 (3.5%) $243,207 (5.4%) 0.00 204
    2019-11-01 $169,000 (-1.9%) $240,226 (5.0%) 0.00 188
    2019-12-01 $167,175 (4.6%) $238,391 (6.1%) 0.00 174
    2020-01-01 $159,700 (-0.1%) $228,036 (5.9%) 0.00 165
    2020-02-01 $175,200 (9.6%) $245,615 (13.2%) 0.00 162
    2020-03-01 $191,000 (16.3%) $261,585 (16.6%) 0.00 153
    2020-04-01 $199,500 (15.7%) $263,841 (11.3%) 0.00 138
    2020-05-01 $199,500 (10.9%) $255,206 (3.9%) 0.00 140
    2020-06-01 $194,000 (4.3%) $254,090 (5.2%) 0.00 125
    2020-07-01 $189,750 (1.8%) $257,460 (6.1%) 0.00 123
    2020-08-01 $182,400 (2.9%) $265,253 (8.8%) 0.00 117
    2020-09-01 $175,450 (1.4%) $259,096 (6.4%) 0.00 135
    2020-10-01 $174,900 (1.6%) $254,440 (4.6%) 0.00 139
    2020-11-01 $180,825 (7.0%) $259,412 (8.0%) 0.00 128
    2020-12-01 $174,600 (4.4%) $252,152 (5.8%) 0.00 114
    2021-01-01 $179,900 (12.7%) $253,988 (11.4%) 0.00 100
    2021-02-01 $199,000 (13.6%) $276,516 (12.6%) 0.00 87
    2021-03-01 $237,075 (24.1%) $300,125 (14.7%) 0.00 80
    2021-04-01 $237,250 (18.9%) $293,114 (11.1%) 0.00 80
    2021-05-01 $262,250 (31.5%) $264,937 (3.8%) 0.00 81
    2021-06-01 $238,675 (23.0%) $273,442 (7.6%) 0.00 82
    2021-07-01 $244,450 (28.8%) $294,628 (14.4%) 0.00 105
    2021-08-01 $244,125 (33.8%) $280,554 (5.8%) 0.00 119
    2021-09-01 $228,475 (30.2%) $294,333 (13.6%) 0.00 128
    2021-10-01 $214,950 (22.9%) $276,705 (8.8%) 0.00 123
    2021-11-01 $199,900 (10.6%) $263,824 (1.7%) 0.00 115
    2021-12-01 $214,500 (22.9%) $279,534 (10.9%) 0.00 99
    2022-01-01 $199,000 (10.6%) $274,458 (8.1%) 0.00 88
    2022-02-01 $199,700 (0.4%) $292,696 (5.9%) 0.00 72
    2022-03-01 $226,650 (-4.4%) $324,827 (8.2%) 0.00 74
    2022-04-01 $229,500 (-3.3%) $324,253 (10.6%) 0.00 76
    2022-05-01 $251,175 (-4.2%) $327,560 (23.6%) 0.00 86
    2022-06-01 $251,200 (5.3%) $335,415 (22.7%) 0.00 117
    2022-07-01 $240,000 (-1.8%) $320,097 (8.6%) 0.00 128
    2022-08-01 $245,575 (0.6%) $324,064 (15.5%) 0.00 135
    2022-09-01 $258,875 (13.3%) $323,944 (10.1%) 0.00 138
    2022-10-01 $272,450 (26.8%) $328,492 (18.7%) 0.00 131
    2022-11-01 $264,900 (32.5%) $317,525 (20.4%) 0.00 129
    2022-12-01 $259,000 (20.8%) $321,159 (14.9%) 0.00 115
    2023-01-01 $247,450 (24.4%) $313,422 (14.2%) 0.00 108
    2023-02-01 $239,950 (20.2%) $303,402 (3.7%) 0.00 104
    2023-03-01 $255,750 (12.8%) $324,722 (0.0%) 0.00 90
    2023-04-01 $274,999 (19.8%) $344,969 (6.4%) 0.00 85
    2023-05-01 $289,600 (15.3%) $348,361 (6.4%) 0.00 96
    2023-06-01 $289,700 (15.3%) $333,310 (-0.6%) 0.00 97
    2023-07-01 $280,000 (16.7%) $322,342 (0.7%) 0.00 100
    2023-08-01 $263,250 (7.2%) $307,795 (-5.0%) 0.00 114
    2023-09-01 $272,000 (5.1%) $314,254 (-3.0%) 0.00 129
    2023-10-01 $269,000 (-1.3%) $330,756 (0.7%) 0.00 128
    2023-11-01 $269,975 (1.9%) $332,972 (4.9%) 0.00 132
    2023-12-01 $269,000 (3.9%) $332,005 (3.4%) 0.00 147
    2024-01-01 $249,250 (0.7%) $310,304 (-1.0%) 0.00 140
    2024-02-01 $264,475 (10.2%) $327,230 (7.9%) 0.00 110
    2024-03-01 $284,900 (11.4%) $347,509 (7.0%) 0.00 100
    2024-04-01 $283,650 (3.2%) $330,054 (-4.3%) 0.00 115
    2024-05-01 $284,900 (-1.6%) $353,245 (1.4%) 0.00 136
    2024-06-01 $284,950 (-1.6%) $373,563 (12.1%) 0.00 157
    2024-07-01 $282,325 (0.8%) $374,767 (16.3%) 0.00 168
    2024-08-01 $284,900 (8.2%) $379,845 (23.4%) 0.00 158
    2024-09-01 $282,450 (3.8%) $385,102 (22.5%) 0.00 172
    2024-10-01 $293,725 (9.2%) $368,212 (11.3%) 0.00 185
    2024-11-01 $285,000 (5.6%) $354,094 (6.3%) 0.00 199
    2024-12-01 $285,750 (6.2%) $350,410 (5.5%) 0.00 172
    2025-01-01 $289,925 (16.3%) $334,315 (7.7%) 0.00 159
    2025-02-01 $285,000 (7.8%) $326,999 (-0.1%) 0.00 160
    2025-03-01 $290,000 (1.8%) $346,427 (-0.3%) 0.00 161
    Danville's median listing price for 2025-03-01 was $290,000, a difference of $5,100 (1.8%) versus the prior year and $5,000 versus the prior month.

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

    Danville's average listing price for 2025-03-01 was $346,427, a difference of $-1,082 (-0.3%) versus the prior year and $19,428 versus the prior month.

    For the 2025-03-01 period, Danville had 161 MLS listings, a difference of 1 listings (1%) versus the prior month and 61 listings (61%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Danville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,928 sqft
    2018-02-01 0 days 1,908 sqft
    2018-03-01 0 days 1,916 sqft
    2018-04-01 0 days 2,049 sqft
    2018-05-01 0 days 2,147 sqft
    2018-06-01 0 days 2,000 sqft
    2018-07-01 0 days 1,975 sqft
    2018-08-01 0 days 1,931 sqft
    2018-09-01 0 days 1,915 sqft
    2018-10-01 0 days 1,864 sqft
    2018-11-01 0 days 1,914 sqft
    2018-12-01 0 days 1,890 sqft
    2019-01-01 0 days 1,816 sqft
    2019-02-01 0 days 1,835 sqft
    2019-03-01 0 days 1,837 sqft
    2019-04-01 0 days 1,848 sqft
    2019-05-01 0 days 1,873 sqft
    2019-06-01 0 days 1,897 sqft
    2019-07-01 0 days 1,919 sqft
    2019-08-01 0 days 1,962 sqft
    2019-09-01 0 days 1,904 sqft
    2019-10-01 0 days 1,854 sqft
    2019-11-01 0 days 1,803 sqft
    2019-12-01 0 days 1,723 sqft
    2020-01-01 0 days 1,730 sqft
    2020-02-01 0 days 1,834 sqft
    2020-03-01 0 days 1,908 sqft
    2020-04-01 0 days 1,912 sqft
    2020-05-01 0 days 1,900 sqft
    2020-06-01 0 days 1,882 sqft
    2020-07-01 0 days 1,869 sqft
    2020-08-01 0 days 1,829 sqft
    2020-09-01 0 days 1,687 sqft
    2020-10-01 0 days 1,700 sqft
    2020-11-01 0 days 1,761 sqft
    2020-12-01 0 days 1,730 sqft
    2021-01-01 0 days 1,700 sqft
    2021-02-01 0 days 1,796 sqft
    2021-03-01 0 days 1,875 sqft
    2021-04-01 0 days 1,935 sqft
    2021-05-01 0 days 1,871 sqft
    2021-06-01 0 days 1,845 sqft
    2021-07-01 0 days 1,892 sqft
    2021-08-01 0 days 1,837 sqft
    2021-09-01 0 days 1,809 sqft
    2021-10-01 0 days 1,778 sqft
    2021-11-01 0 days 1,632 sqft
    2021-12-01 0 days 1,645 sqft
    2022-01-01 0 days 1,599 sqft
    2022-02-01 0 days 1,643 sqft
    2022-03-01 0 days 1,639 sqft
    2022-04-01 0 days 1,700 sqft
    2022-05-01 0 days 1,808 sqft
    2022-06-01 0 days 1,773 sqft
    2022-07-01 0 days 1,800 sqft
    2022-08-01 0 days 1,696 sqft
    2022-09-01 0 days 1,748 sqft
    2022-10-01 0 days 1,719 sqft
    2022-11-01 0 days 1,735 sqft
    2022-12-01 0 days 1,740 sqft
    2023-01-01 0 days 1,665 sqft
    2023-02-01 0 days 1,670 sqft
    2023-03-01 0 days 1,730 sqft
    2023-04-01 0 days 1,839 sqft
    2023-05-01 0 days 2,003 sqft
    2023-06-01 0 days 1,871 sqft
    2023-07-01 0 days 1,789 sqft
    2023-08-01 0 days 1,684 sqft
    2023-09-01 0 days 1,740 sqft
    2023-10-01 0 days 1,763 sqft
    2023-11-01 0 days 1,774 sqft
    2023-12-01 0 days 1,704 sqft
    2024-01-01 0 days 1,737 sqft
    2024-02-01 0 days 1,715 sqft
    2024-03-01 0 days 1,665 sqft
    2024-04-01 0 days 1,733 sqft
    2024-05-01 0 days 1,889 sqft
    2024-06-01 0 days 1,865 sqft
    2024-07-01 0 days 1,786 sqft
    2024-08-01 0 days 1,867 sqft
    2024-09-01 0 days 1,897 sqft
    2024-10-01 0 days 1,882 sqft
    2024-11-01 0 days 1,762 sqft
    2024-12-01 0 days 1,768 sqft
    2025-01-01 0 days 1,760 sqft
    2025-02-01 0 days 1,678 sqft
    2025-03-01 0 days 1,760 sqft
    Danville's median listing age (time on market) for 2025-03-01 was 0 days.

    Danville's median square footage for active listings during the 2025-03-01 period was 1,760 sqft. One year prior, the average listing was 1,665 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).