Elizabethtown FHA Loan Rates, Closing Costs & Stats

ELIZABETHTOWN-FORT KNOX, 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.

    Elizabethtown's 75 lenders originated 466 FHA loans during 2023. The total origination value was $99,980,000, with an average FHA loan value of $214,549.

    Elizabethtown FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Elizabethtown averaged 6.79% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Elizabethtown's average FHA mortgage closing costs are $6,271.

    The average rate for the prior week (2024-04-12) was 6.38% and one month ago for the week of 2024-03-15, the average rate was 6.55%.

    The average rate one year ago was 6.08%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.93%.

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

    Elizabethtown 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 Elizabethtown level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 64 6.58% $8,369
    QUICKEN LOANS, LLC 60 6.43% $9,052
    SOUTH CENTRAL BANK, INC. 34 6.41% $8,408
    EVERETT FINANCIAL, INC. 32 6.73% $10,694
    STOCKTON MORTGAGE CORPORATION 18 6.69% $11,163
    PENNYMAC LOAN SERVICES, LLC 14 6.47% $8,794
    Northpointe Bank 14 6.58% $9,375
    RUOFF MORTGAGE COMPANY, INC. 13 6.83% $6,203
    PLAZA HOME MORTGAGE, INC. 12 6.32% $8,357
    Prosperity Home Mortgage, LLC 12 6.54% $7,679
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 7.02% $9,435
    CROSSCOUNTRY MORTGAGE, LLC 9 6.52% $10,668
    WesBanco 8 6.39% $8,382
    Stock Yards Bank & Trust Company 8 6.31% $8,881
    Citizens Bank 7 6.25% $7,249
    Carrington Mortgage Services, LLC 7 6.84% $13,075
    INTERLINC MORTGAGE SERVICES, LLC 7 6.73% $6,803
    AMERISAVE MORTGAGE CORPORATION 7 6.30% $15,462
    Mortgage Research Center, LLC 7 6.48% $7,747
    MUTUAL OF OMAHA MORTGAGE, INC. 6 7.40% $8,511
    FREEDOM MORTGAGE CORPORATION 6 6.60% $10,834
    CARDINAL FINANCIAL 5 6.35% $10,749
    Equity Prime Mortgage LLC 4 6.09% $8,713
    T2 FINANCIAL LLC 4 6.84% $10,736
    HOMESIDE FINANCIAL, LLC 4 7.06% $11,025
    Magnolia Bank 4 6.81% $8,629
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 6.58% $9,706
    ENVOY MORTGAGE, LTD 3 6.42% $9,430
    Mr. Cooper ( Nationstar Mortgage ) 3 6.25% $9,342
    German American Bank 3 6.29% $8,182
    Century Mortgage Company DBA Century Lending Company 3 6.54% $13,244
    LOANDEPOT.COM, LLC 2 6.38% $9,128
    Wilson & Muir Bank & Trust Company 2 5.94% $6,375
    SUN WEST MORTGAGE COMPANY, INC. 2 6.94% $7,309
    DHI MORTGAGE COMPANY, LTD. 2 5.62% $7,540
    DRAPER AND KRAMER MORTGAGE CORP. 2 6.75% $8,660
    MID AMERICA MORTGAGE, INC. 2 7.94% $6,496
    Flagstar Bank, FSB 2 7.25% $6,215
    BROKER SOLUTIONS, INC. 2 6.50% $8,761
    AMERICAN FINANCIAL RESOURCES, INC. 2 5.75% $14,295
    NEWREZ LLC 2 6.50% $11,690
    ZILLOW HOME LOANS, LLC 1 6.75% $9,941
    AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $15,979
    AMERICAN FINANCING CORPORATION 1 6.50% $6,600
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.25% $11,055
    Barrington Bank & Trust Company, N.A. 1 6.75% $6,532
    BNC National Bank 1 6.75% $10,463
    CHERRY CREEK MORTGAGE, LLC 1 6.25% $4,066
    EMM LOANS LLC 1 7.13% $11,396
    ENDEAVOR CAPITAL, LLC. 1 6.25% $10,568
    EVANSVILLE TEACHERS 1 6.13% $4,437
    FAIR WAY LENDING LLC 1 6.13% $12,821
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.38% $14,816
    FirstBank 1 6.63% $8,450
    FIRST COMMUNITY MORTGAGE, INC. 1 7.13% $7,151
    First Federal Bank 1 5.50% $9,712
    Forcht Bank 1 6.75% $7,329
    GUILD MORTGAGE COMPANY 1 7.63% $10,483
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.25% $7,349
    MORTGAGE ACCESS CORP. 1 6.63% $8,470
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $9,427
    Plains Commerce Bank 1 7.13% $9,938
    POLARIS HOME FUNDING CORP. 1 7.50% $11,958
    RELIANCE FIRST CAPITAL, LLC 1 6.00% $13,689
    Republic Bank & Trust Company 1 6.00% $8,781
    ROSS MORTGAGE CORPORATION 1 7.75% $11,035
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $14,048
    The Federal Savings Bank 1 6.25% $13,396
    The Huntington National Bank 1 6.25% $9,964
    THRIVE MORTGAGE, LLC 1 7.13% $8,244
    TOP FLITE FINANCIAL, INC. 1 6.75% $17,403
    TOTAL MORTGAGE SERVICES, LLC 1 5.75% $9,258
    TOWNE MORTGAGE COMPANY 1 6.63% $10,524
    VILLAGE CAPITAL MORTGAGE 1 5.25% $11,858
    1ST SIGNATURE LENDING, LLC 1 6.75% $10,229

    The top Elizabethtown FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 64 FHA loans originated. Their average total fees are $8,369, which is $683 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Elizabethtown FHA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($6,203), Prosperity Home Mortgage, LLC ($7,679), PLAZA HOME MORTGAGE, INC. ($8,357), UNITED WHOLESALE MORTGAGE, LLC ($8,369) and SOUTH CENTRAL BANK, INC. ($8,408).

    The lowest rate Elizabethtown FHA lenders (with over 10 loans originated) are PLAZA HOME MORTGAGE, INC. (6.32%), SOUTH CENTRAL BANK, INC. (6.41%), QUICKEN LOANS, LLC (6.43%), PENNYMAC LOAN SERVICES, LLC (6.47%) and Prosperity Home Mortgage, LLC (6.54%).

    Elizabethtown FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ELIZABETHTOWN-FORT KNOX, KY HARDIN 2022 $420,680 $538,650 $651,050 $809,150
    ELIZABETHTOWN-FORT KNOX, KY LARUE 2022 $420,680 $538,650 $651,050 $809,150
    ELIZABETHTOWN-FORT KNOX, KY MEADE 2022 $420,680 $538,650 $651,050 $809,150
    ELIZABETHTOWN-FORT KNOX, KY HARDIN 2023 $472,030 $604,400 $730,525 $907,900
    ELIZABETHTOWN-FORT KNOX, KY LARUE 2023 $472,030 $604,400 $730,525 $907,900
    ELIZABETHTOWN-FORT KNOX, KY MEADE 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Elizabethtown (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 $169,900 (6.3%) $196,399 (4.7%) 0.63 492
    2018-02-01 $171,250 (7.1%) $202,661 (6.1%) 0.62 460
    2018-03-01 $179,900 (9.1%) $213,770 (9.9%) 0.63 443
    2018-04-01 $189,900 (11.8%) $215,412 (10.0%) 0.64 457
    2018-05-01 $190,425 (12.2%) $217,913 (8.5%) 0.64 460
    2018-06-01 $189,900 (11.9%) $218,138 (6.9%) 0.63 500
    2018-07-01 $195,225 (14.9%) $223,442 (9.4%) 0.65 523
    2018-08-01 $199,900 (15.9%) $221,937 (8.9%) 0.67 539
    2018-09-01 $189,700 (11.3%) $216,531 (9.4%) 0.64 569
    2018-10-01 $189,700 (10.5%) $212,448 (6.7%) 0.64 548
    2018-11-01 $194,000 (14.2%) $213,326 (8.7%) 0.66 544
    2018-12-01 $190,000 (11.8%) $215,657 (9.7%) 0.66 525
    2019-01-01 $194,600 (14.5%) $212,020 (8.0%) 0.67 490
    2019-02-01 $189,950 (10.9%) $211,522 (4.4%) 0.64 492
    2019-03-01 $199,857 (11.1%) $214,714 (0.4%) 0.65 454
    2019-04-01 $204,725 (7.8%) $217,847 (1.1%) 0.65 424
    2019-05-01 $212,000 (11.3%) $228,567 (4.9%) 0.66 431
    2019-06-01 $204,900 (7.9%) $224,340 (2.8%) 0.64 466
    2019-07-01 $200,000 (2.5%) $227,161 (1.7%) 0.63 463
    2019-08-01 $204,009 (2.1%) $229,093 (3.2%) 0.65 477
    2019-09-01 $210,023 (10.7%) $231,407 (6.9%) 0.67 485
    2019-10-01 $216,600 (14.2%) $236,181 (11.2%) 0.70 490
    2019-11-01 $215,900 (11.3%) $238,902 (12.0%) 0.71 480
    2019-12-01 $219,450 (15.5%) $239,631 (11.1%) 0.73 435
    2020-01-01 $215,900 (11.0%) $236,454 (11.5%) 0.72 398
    2020-02-01 $219,000 (15.3%) $233,200 (10.3%) 0.72 368
    2020-03-01 $215,000 (7.6%) $233,968 (9.0%) 0.67 325
    2020-04-01 $219,225 (7.1%) $235,057 (7.9%) 0.69 307
    2020-05-01 $232,900 (9.9%) $244,297 (6.9%) 0.71 245
    2020-06-01 $225,650 (10.1%) $253,222 (12.9%) 0.66 189
    2020-07-01 $244,675 (22.3%) $274,380 (20.8%) 0.71 176
    2020-08-01 $242,500 (18.9%) $272,804 (19.1%) 0.69 172
    2020-09-01 $243,475 (15.9%) $276,153 (19.3%) 0.70 183
    2020-10-01 $234,500 (8.3%) $270,793 (14.7%) 0.67 169
    2020-11-01 $199,500 (-7.6%) $255,648 (7.0%) 0.58 177
    2020-12-01 $215,000 (-2.0%) $260,950 (8.9%) 0.64 193
    2021-01-01 $209,900 (-2.8%) $269,152 (13.8%) 0.63 164
    2021-02-01 $223,650 (2.1%) $274,629 (17.8%) 0.65 138
    2021-03-01 $249,900 (16.2%) $289,733 (23.8%) 0.71 134
    2021-04-01 $266,350 (21.5%) $299,388 (27.4%) 0.72 128
    2021-05-01 $239,950 (3.0%) $289,363 (18.5%) 0.64 125
    2021-06-01 $259,900 (15.2%) $321,375 (26.9%) 0.68 140
    2021-07-01 $275,900 (12.8%) $321,065 (17.0%) 0.73 181
    2021-08-01 $275,000 (13.4%) $305,952 (12.2%) 0.73 211
    2021-09-01 $272,475 (11.9%) $300,438 (8.8%) 0.73 226
    2021-10-01 $269,900 (15.1%) $313,661 (15.8%) 0.72 233
    2021-11-01 $273,700 (37.2%) $307,859 (20.4%) 0.73 233
    2021-12-01 $251,225 (16.9%) $295,863 (13.4%) 0.68 199
    2022-01-01 $250,000 (19.1%) $309,597 (15.0%) 0.68 159
    2022-02-01 $269,900 (20.7%) $318,052 (15.8%) 0.70 142
    2022-03-01 $268,000 (7.2%) $327,020 (12.9%) 0.67 125
    2022-04-01 $265,000 (-0.5%) $299,284 (0.0%) 0.63 119
    2022-05-01 $284,900 (18.7%) $316,573 (9.4%) 0.65 130
    2022-06-01 $268,950 (3.5%) $303,494 (-5.6%) 0.60 202
    2022-07-01 $278,000 (0.8%) $320,605 (-0.1%) 0.63 277
    2022-08-01 $299,650 (9.0%) $318,805 (4.2%) 0.69 303
    2022-09-01 $306,050 (12.3%) $331,420 (10.3%) 0.72 249
    2022-10-01 $319,900 (18.5%) $347,702 (10.9%) 0.75 287
    2022-11-01 $308,450 (12.7%) $341,948 (11.1%) 0.74 321
    2022-12-01 $302,500 (20.4%) $341,399 (15.4%) 0.75 289
    2023-01-01 $316,500 (26.6%) $338,954 (9.5%) 0.78 237
    2023-02-01 $316,500 (17.3%) $342,987 (7.8%) 0.76 226
    2023-03-01 $317,500 (18.5%) $349,755 (7.0%) 0.75 215
    2023-04-01 $316,000 (19.3%) $346,595 (15.8%) 0.73 218
    2023-05-01 $315,500 (10.7%) $341,656 (7.9%) 0.72 204
    2023-06-01 $322,200 (19.8%) $347,889 (14.6%) 0.72 220
    2023-07-01 $325,000 (16.9%) $349,687 (9.1%) 0.74 257
    2023-08-01 $323,323 (7.9%) $350,213 (9.9%) 0.74 277
    2023-09-01 $319,900 (4.5%) $339,104 (2.3%) 0.74 288
    2023-10-01 $319,395 (-0.2%) $344,635 (-0.9%) 0.75 293
    2023-11-01 $312,975 (1.5%) $343,863 (0.6%) 0.75 318
    2023-12-01 $315,000 (4.1%) $346,331 (1.4%) 0.77 314
    2024-01-01 $316,250 (-0.1%) $347,420 (2.5%) 0.77 289
    2024-02-01 $318,575 (0.7%) $356,394 (3.9%) 0.77 283
    2024-03-01 $334,900 (5.5%) $362,963 (3.8%) 0.79 283
    Elizabethtown's median listing price for 2024-03-01 was $334,900, a difference of $17,400 (5.5%) versus the prior year and $16,325 versus the prior month.

    Elizabethtown's median listing price comes in at 79% of the national average.

    Elizabethtown's average listing price for 2024-03-01 was $362,963, a difference of $13,208 (3.8%) versus the prior year and $6,569 versus the prior month.

    For the 2024-03-01 period, Elizabethtown had 283 MLS listings, a difference of 0 listings (0%) versus the prior month and 68 listings (32%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Elizabethtown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 82 days 1,800 sqft
    2018-02-01 80 days 1,838 sqft
    2018-03-01 56 days 1,869 sqft
    2018-04-01 55 days 1,960 sqft
    2018-05-01 53 days 1,987 sqft
    2018-06-01 44 days 2,004 sqft
    2018-07-01 46 days 2,012 sqft
    2018-08-01 52 days 2,014 sqft
    2018-09-01 55 days 1,973 sqft
    2018-10-01 65 days 1,969 sqft
    2018-11-01 69 days 1,985 sqft
    2018-12-01 80 days 1,977 sqft
    2019-01-01 80 days 1,983 sqft
    2019-02-01 72 days 1,993 sqft
    2019-03-01 63 days 2,000 sqft
    2019-04-01 54 days 1,999 sqft
    2019-05-01 51 days 1,987 sqft
    2019-06-01 50 days 1,942 sqft
    2019-07-01 53 days 1,937 sqft
    2019-08-01 54 days 1,983 sqft
    2019-09-01 55 days 2,053 sqft
    2019-10-01 56 days 2,122 sqft
    2019-11-01 61 days 2,125 sqft
    2019-12-01 68 days 2,151 sqft
    2020-01-01 80 days 2,123 sqft
    2020-02-01 71 days 2,127 sqft
    2020-03-01 50 days 1,921 sqft
    2020-04-01 50 days 1,926 sqft
    2020-05-01 57 days 1,968 sqft
    2020-06-01 52 days 2,170 sqft
    2020-07-01 40 days 2,204 sqft
    2020-08-01 37 days 2,160 sqft
    2020-09-01 39 days 2,056 sqft
    2020-10-01 38 days 1,920 sqft
    2020-11-01 33 days 1,835 sqft
    2020-12-01 43 days 1,855 sqft
    2021-01-01 54 days 1,859 sqft
    2021-02-01 50 days 1,870 sqft
    2021-03-01 31 days 1,895 sqft
    2021-04-01 30 days 1,967 sqft
    2021-05-01 30 days 1,945 sqft
    2021-06-01 24 days 1,988 sqft
    2021-07-01 24 days 2,012 sqft
    2021-08-01 28 days 2,062 sqft
    2021-09-01 33 days 2,060 sqft
    2021-10-01 39 days 2,010 sqft
    2021-11-01 37 days 1,923 sqft
    2021-12-01 45 days 1,824 sqft
    2022-01-01 58 days 1,828 sqft
    2022-02-01 28 days 1,833 sqft
    2022-03-01 25 days 1,922 sqft
    2022-04-01 24 days 1,923 sqft
    2022-05-01 19 days 1,987 sqft
    2022-06-01 17 days 1,851 sqft
    2022-07-01 29 days 1,890 sqft
    2022-08-01 46 days 1,894 sqft
    2022-09-01 48 days 1,951 sqft
    2022-10-01 42 days 2,128 sqft
    2022-11-01 45 days 2,069 sqft
    2022-12-01 58 days 2,035 sqft
    2023-01-01 67 days 2,039 sqft
    2023-02-01 43 days 1,922 sqft
    2023-03-01 44 days 2,013 sqft
    2023-04-01 36 days 1,904 sqft
    2023-05-01 42 days 1,823 sqft
    2023-06-01 41 days 1,939 sqft
    2023-07-01 36 days 1,984 sqft
    2023-08-01 44 days 2,004 sqft
    2023-09-01 44 days 1,967 sqft
    2023-10-01 46 days 1,924 sqft
    2023-11-01 46 days 1,923 sqft
    2023-12-01 53 days 1,924 sqft
    2024-01-01 67 days 1,902 sqft
    2024-02-01 52 days 1,934 sqft
    2024-03-01 37 days 1,948 sqft
    Elizabethtown's median listing age (time on market) for 2024-03-01 was 37 days. This is -15% shorter than the same period one year ago.

    Elizabethtown's median square footage for active listings during the 2024-03-01 period was 1,948 sqft. One year prior, the average listing was 2,013 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).