Frankfort FHA Loan Rates, Closing Costs & Stats

Frankfort, 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.

    Frankfort's 66 lenders originated 273 FHA loans during 2024. The total origination value was $56,985,000, with an average FHA loan value of $208,736.

    Frankfort FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Frankfort averaged 0.44% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Frankfort's average FHA mortgage closing costs are $6,793.

    The average rate for the prior week (2025-06-13) was 6.72% and one month ago for the week of 2025-05-16, the average rate was 6.98%.

    The average rate one year ago was 6.94%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.11%.

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

    Frankfort 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 Frankfort level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    STOCKTON MORTGAGE CORPORATION 42 6.65% $9,521
    QUICKEN LOANS, LLC 25 6.40% $9,156
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 19 6.55% $6,939
    Republic State Mortgage Co. 15 6.55% $9,493
    FREEDOM MORTGAGE CORPORATION 14 6.60% $9,226
    Bank of England 10 6.94% $10,369
    UNITED WHOLESALE MORTGAGE, LLC 7 5.71% $10,710
    LOANDEPOT.COM, LLC 7 6.16% $9,940
    DAS Acquisition Company, LLC 6 6.75% $8,601
    Century Mortgage Company DBA Century Lending Company 5 6.43% $10,673
    GENEVA FINANCIAL, LLC 5 6.28% $9,554
    BROKER SOLUTIONS, INC. 5 6.38% $9,565
    Fifth Third Bank 4 6.47% $7,251
    Northpointe Bank 4 6.56% $11,521
    T2 FINANCIAL LLC 4 6.47% $9,423
    RUOFF MORTGAGE COMPANY, INC. 4 6.69% $6,647
    Carrington Mortgage Services, LLC 3 6.75% $11,494
    Republic Bank & Trust Company 3 6.42% $8,491
    ENDEAVOR CAPITAL, LLC. 3 6.21% $8,905
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 7.00% $10,207
    Traditional Bank, Inc. 3 7.08% $9,688
    WesBanco 2 6.19% $6,467
    GUILD MORTGAGE COMPANY 2 6.38% $10,253
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.81% $13,157
    CROSSCOUNTRY MORTGAGE, LLC 2 6.56% $10,596
    AmRes Corporation 2 7.44% $8,494
    Magnolia Bank 2 6.38% $8,438
    Mortgage Research Center, LLC 2 7.50% $5,392
    Central Bank 2 6.63% $6,687
    EVERETT FINANCIAL, INC. 2 7.00% $9,339
    SOUTH CENTRAL BANK, INC. 2 6.75% $6,304
    ENVOY MORTGAGE, LTD 2 6.31% $12,664
    Flagstar Bank, FSB 2 6.63% $6,339
    TOP FLITE FINANCIAL, INC. 2 6.38% $11,653
    Mr. Cooper ( Nationstar Mortgage ) 2 6.69% $10,080
    Peoples Exchange Bank 2 6.38% $6,405
    PENNYMAC LOAN SERVICES, LLC 2 5.75% $8,655
    GUARANTEED RATE, INC. 2 6.41% $17,177
    ZILLOW HOME LOANS, LLC 1 5.75% $10,112
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.63% $9,277
    American Mortgage & Equity Consultants, Inc. 1 6.25% $11,614
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.99% $11,804
    Barrington Bank & Trust Company, N.A. 1 7.75% $8,498
    CARDINAL FINANCIAL 1 5.25% $13,343
    Citizens Bank 1 5.88% $6,186
    GoPrime Mortgage, Inc. 1 6.75% $7,431
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.50% $4,730
    Ixonia Bank 1 6.75% $9,752
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $4,796
    MORTGAGE INVESTORS GROUP, INC. 1 6.25% $9,703
    MOVEMENT MORTGAGE, LLC 1 6.25% $8,434
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $10,760
    NATIONS RELIABLE LENDING, LLC 1 6.25% $10,897
    NFM, INC. 1 7.38% $7,455
    Plains Commerce Bank 1 6.88% $8,068
    PLANET HOME LENDING, LLC 1 6.38% $3,738
    POLARIS HOME FUNDING CORP. 1 6.75% $18,706
    ROYAL UNITED MORTGAGE LLC 1 7.63% $8,462
    Stock Yards Bank & Trust Company 1 6.00% $9,892
    SWBC MORTGAGE CORPORATION 1 7.13% $10,047
    TJC Mortgage, Inc. 1 6.63% $9,362
    TOWNE MORTGAGE COMPANY 1 6.63% $8,753
    UNION HOME MORTGAGE CORP. 1 7.13% $9,563
    U.S. Bank 1 6.50% $6,717
    VILLAGE CAPITAL MORTGAGE 1 7.25% $3,581
    AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $10,575

    The top Frankfort FHA lender as defined by loan originations is STOCKTON MORTGAGE CORPORATION, with 42 FHA loans originated. Their average total fees are $9,521, which is $365 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Frankfort FHA lenders (with over 10 loans originated) are ARK-LA-TEX FINANCIAL SERVICES, LLC. ($6,939), QUICKEN LOANS, LLC ($9,156), FREEDOM MORTGAGE CORPORATION ($9,226), Republic State Mortgage Co. ($9,493) and STOCKTON MORTGAGE CORPORATION ($9,521).

    The lowest rate Frankfort FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.40%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (6.55%), Republic State Mortgage Co. (6.55%), FREEDOM MORTGAGE CORPORATION (6.60%) and STOCKTON MORTGAGE CORPORATION (6.65%).

    Frankfort FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    FRANKFORT, KY ANDERSON 2022 $420,680 $538,650 $651,050 $809,150
    FRANKFORT, KY FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
    FRANKFORT, KY ANDERSON 2023 $472,030 $604,400 $730,525 $907,900
    FRANKFORT, KY FRANKLIN 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).