Danville FHA Loan Rates, Closing Costs & Stats
Danville, 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.
Danville's 47 lenders originated 165 FHA loans during 2023. The total origination value was $29,775,000, with an average FHA loan value of $180,455.
Danville FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Danville
averaged
0.08%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Danville's average FHA mortgage closing costs are $6,445.
The average rate for the prior week (2024-11-22) was
6.57% and
one month ago for the week of 2024-10-25, the
average rate was 6.45%.
The average rate one year ago was 6.94%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0%.
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.
The top Danville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
22 FHA loans originated. Their average total fees are
$8,000, which is $778
lower than the next largest lender,
GENEVA FINANCIAL, LLC.
The lowest fee Danville FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($8,000), Republic State Mortgage Co. ($8,524), GENEVA FINANCIAL, LLC ($8,778), HOMESIDE FINANCIAL, LLC ($9,225) and .
The lowest rate Danville FHA lenders (with over 10 loans originated) are
Republic State Mortgage Co. (6.33%), HOMESIDE FINANCIAL, LLC (6.51%), GENEVA FINANCIAL, LLC (6.52%), QUICKEN LOANS, LLC (6.61%) 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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $165,000 (24.2%) | $239,920 (25.3%) | 0.00 | 202 |
2018-02-01 | $167,450 (28.9%) | $242,047 (25.1%) | 0.00 | 205 |
2018-03-01 | $166,750 (28.3%) | $234,894 (21.0%) | 0.00 | 210 |
2018-04-01 | $185,800 (38.1%) | $241,559 (22.1%) | 0.00 | 208 |
2018-05-01 | $189,950 (19.2%) | $246,182 (16.3%) | 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 (3.0%) | 0.00 | 244 |
2018-08-01 | $179,450 (12.2%) | $246,224 (8.6%) | 0.00 | 229 |
2018-09-01 | $174,450 (10.1%) | $241,817 (6.8%) | 0.00 | 226 |
2018-10-01 | $166,325 (0.2%) | $230,661 (-3.7%) | 0.00 | 231 |
2018-11-01 | $172,200 (1.8%) | $228,824 (-8.0%) | 0.00 | 226 |
2018-12-01 | $159,900 (-3.1%) | $224,662 (-8.2%) | 0.00 | 218 |
2019-01-01 | $159,900 (-3.1%) | $215,364 (-10.2%) | 0.00 | 204 |
2019-02-01 | $159,800 (-4.6%) | $216,769 (-10.4%) | 0.00 | 211 |
2019-03-01 | $164,071 (-1.6%) | $223,283 (-4.9%) | 0.00 | 216 |
2019-04-01 | $172,425 (-7.2%) | $236,284 (-2.2%) | 0.00 | 215 |
2019-05-01 | $179,900 (-5.3%) | $245,555 (-0.3%) | 0.00 | 207 |
2019-06-01 | $185,000 (0.3%) | $241,306 (1.8%) | 0.00 | 212 |
2019-07-01 | $185,700 (3.2%) | $242,329 (1.5%) | 0.00 | 214 |
2019-08-01 | $177,041 (-1.3%) | $243,501 (-1.1%) | 0.00 | 215 |
2019-09-01 | $173,052 (-0.8%) | $243,304 (0.6%) | 0.00 | 209 |
2019-10-01 | $172,118 (3.5%) | $243,192 (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 | $159,600 (-0.2%) | $228,036 (5.9%) | 0.00 | 165 |
2020-02-01 | $175,200 (9.6%) | $245,615 (13.3%) | 0.00 | 162 |
2020-03-01 | $191,000 (16.4%) | $261,585 (17.2%) | 0.00 | 153 |
2020-04-01 | $199,500 (15.7%) | $263,841 (11.7%) | 0.00 | 138 |
2020-05-01 | $196,750 (9.4%) | $254,559 (3.7%) | 0.00 | 140 |
2020-06-01 | $194,000 (4.9%) | $254,090 (5.3%) | 0.00 | 125 |
2020-07-01 | $189,750 (2.2%) | $257,460 (6.2%) | 0.00 | 123 |
2020-08-01 | $182,400 (3.0%) | $265,253 (8.9%) | 0.00 | 118 |
2020-09-01 | $174,950 (1.1%) | $258,776 (6.4%) | 0.00 | 135 |
2020-10-01 | $174,900 (1.6%) | $253,924 (4.4%) | 0.00 | 139 |
2020-11-01 | $179,200 (6.0%) | $258,146 (7.5%) | 0.00 | 129 |
2020-12-01 | $173,375 (3.7%) | $250,857 (5.2%) | 0.00 | 115 |
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 (33.3%) | $264,937 (4.1%) | 0.00 | 81 |
2021-06-01 | $238,675 (23.0%) | $273,442 (7.6%) | 0.00 | 82 |
2021-07-01 | $249,000 (31.2%) | $296,060 (15.0%) | 0.00 | 106 |
2021-08-01 | $244,125 (33.8%) | $281,215 (6.0%) | 0.00 | 119 |
2021-09-01 | $228,475 (30.6%) | $294,333 (13.7%) | 0.00 | 128 |
2021-10-01 | $215,000 (22.9%) | $277,411 (9.3%) | 0.00 | 123 |
2021-11-01 | $199,900 (11.6%) | $262,289 (1.6%) | 0.00 | 116 |
2021-12-01 | $207,250 (19.5%) | $277,629 (10.7%) | 0.00 | 100 |
2022-01-01 | $199,000 (10.6%) | $274,458 (8.1%) | 0.00 | 88 |
2022-02-01 | $199,725 (0.4%) | $290,712 (5.1%) | 0.00 | 73 |
2022-03-01 | $227,400 (-4.1%) | $324,369 (8.1%) | 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 | $238,500 (-4.2%) | $319,396 (7.9%) | 0.00 | 128 |
2022-08-01 | $245,575 (0.6%) | $324,064 (15.2%) | 0.00 | 135 |
2022-09-01 | $257,875 (12.9%) | $323,392 (9.9%) | 0.00 | 138 |
2022-10-01 | $272,450 (26.7%) | $328,492 (18.4%) | 0.00 | 131 |
2022-11-01 | $264,900 (32.5%) | $317,525 (21.1%) | 0.00 | 129 |
2022-12-01 | $259,000 (25.0%) | $319,446 (15.1%) | 0.00 | 115 |
2023-01-01 | $247,425 (24.3%) | $312,019 (13.7%) | 0.00 | 108 |
2023-02-01 | $239,950 (20.1%) | $303,402 (4.4%) | 0.00 | 104 |
2023-03-01 | $255,500 (12.4%) | $323,842 (-0.2%) | 0.00 | 90 |
2023-04-01 | $274,999 (19.8%) | $345,312 (6.5%) | 0.00 | 87 |
2023-05-01 | $289,700 (15.3%) | $348,498 (6.4%) | 0.00 | 97 |
2023-06-01 | $290,425 (15.6%) | $334,246 (-0.4%) | 0.00 | 98 |
2023-07-01 | $283,000 (18.7%) | $323,281 (1.2%) | 0.00 | 101 |
2023-08-01 | $265,225 (8.0%) | $308,695 (-4.7%) | 0.00 | 115 |
2023-09-01 | $272,000 (5.5%) | $314,971 (-2.6%) | 0.00 | 129 |
2023-10-01 | $269,000 (-1.3%) | $331,035 (0.8%) | 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 (3.9%) | 0.00 | 147 |
2024-01-01 | $249,250 (0.7%) | $309,798 (-0.7%) | 0.00 | 140 |
2024-02-01 | $259,975 (8.4%) | $327,185 (7.8%) | 0.00 | 110 |
2024-03-01 | $284,900 (11.5%) | $347,509 (7.3%) | 0.00 | 100 |
2024-04-01 | $283,650 (3.2%) | $330,054 (-4.4%) | 0.00 | 115 |
2024-05-01 | $284,800 (-1.7%) | $356,270 (2.2%) | 0.00 | 136 |
2024-06-01 | $289,500 (-0.3%) | $382,593 (14.5%) | 0.00 | 157 |
2024-07-01 | $282,300 (-0.3%) | $374,532 (15.9%) | 0.00 | 168 |
2024-08-01 | $284,000 (7.1%) | $378,469 (22.6%) | 0.00 | 159 |
2024-09-01 | $282,450 (3.8%) | $383,711 (21.8%) | 0.00 | 173 |
2024-10-01 | $292,450 (8.7%) | $367,540 (11.0%) | 0.00 | 185 |
Danville's median listing price comes in at 0% of the national average.
Danville's average listing price for 2024-10-01 was $367,540, a difference of $36,505 (11.0%) versus the prior year and $-16,171 versus the prior month.
For the 2024-10-01 period, Danville had 185 MLS listings, a difference of 12 listings (7%) versus the prior month and 57 listings (45%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Danville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,928 sqft |
2018-02-01 | 0 days | 1,904 sqft |
2018-03-01 | 0 days | 1,907 sqft |
2018-04-01 | 0 days | 2,048 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 | 1,926 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 | 1,834 sqft |
2019-04-01 | 0 days | 1,846 sqft |
2019-05-01 | 0 days | 1,873 sqft |
2019-06-01 | 0 days | 1,900 sqft |
2019-07-01 | 0 days | 1,921 sqft |
2019-08-01 | 0 days | 1,962 sqft |
2019-09-01 | 0 days | 1,904 sqft |
2019-10-01 | 0 days | 1,853 sqft |
2019-11-01 | 0 days | 1,788 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 | 1,881 sqft |
2020-07-01 | 0 days | 1,869 sqft |
2020-08-01 | 0 days | 1,829 sqft |
2020-09-01 | 0 days | 1,697 sqft |
2020-10-01 | 0 days | 1,700 sqft |
2020-11-01 | 0 days | 1,742 sqft |
2020-12-01 | 0 days | 1,700 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 | 1,839 sqft |
2021-09-01 | 0 days | 1,809 sqft |
2021-10-01 | 0 days | 1,756 sqft |
2021-11-01 | 0 days | 1,639 sqft |
2021-12-01 | 0 days | 1,647 sqft |
2022-01-01 | 0 days | 1,597 sqft |
2022-02-01 | 0 days | 1,642 sqft |
2022-03-01 | 0 days | 1,634 sqft |
2022-04-01 | 0 days | 1,710 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 | 1,700 sqft |
2022-09-01 | 0 days | 1,760 sqft |
2022-10-01 | 0 days | 1,719 sqft |
2022-11-01 | 0 days | 1,735 sqft |
2022-12-01 | 0 days | 1,730 sqft |
2023-01-01 | 0 days | 1,665 sqft |
2023-02-01 | 0 days | 1,670 sqft |
2023-03-01 | 0 days | 1,725 sqft |
2023-04-01 | 0 days | 1,839 sqft |
2023-05-01 | 0 days | 2,005 sqft |
2023-06-01 | 0 days | 1,882 sqft |
2023-07-01 | 0 days | 1,804 sqft |
2023-08-01 | 0 days | 1,687 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 | 1,738 sqft |
2024-02-01 | 0 days | 1,729 sqft |
2024-03-01 | 0 days | 1,665 sqft |
2024-04-01 | 0 days | 1,735 sqft |
2024-05-01 | 0 days | 1,889 sqft |
2024-06-01 | 0 days | 1,872 sqft |
2024-07-01 | 0 days | 1,786 sqft |
2024-08-01 | 0 days | 1,854 sqft |
2024-09-01 | 0 days | 1,875 sqft |
2024-10-01 | 0 days | 1,867 sqft |
Danville's median square footage for active listings during the 2024-10-01 period was 1,867 sqft. One year prior, the average listing was 1,763 sqft.