Frankfort FHA Loan Rates, Closing Costs & Stats
Frankfort, 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.
Frankfort's 73 lenders originated 271 FHA loans during 2023. The total origination value was $54,715,000, with an average FHA loan value of $201,900.
Frankfort FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Frankfort
averaged
-0.22%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Frankfort's average FHA mortgage closing costs are $6,464.
The average rate for the prior week (2024-11-22) was
6.47% and
one month ago for the week of 2024-10-25, the
average rate was 6.15%.
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 0.1%.
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.
The top Frankfort FHA lender as defined by loan originations is STOCKTON MORTGAGE CORPORATION, with
56 FHA loans originated. Their average total fees are
$10,080, which is $1,561
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. ($7,058), QUICKEN LOANS, LLC ($8,519), UNITED WHOLESALE MORTGAGE, LLC ($8,891), Bank of England ($9,056) and Republic State Mortgage Co. ($9,430).
The lowest rate Frankfort FHA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (6.32%), QUICKEN LOANS, LLC (6.36%), Bank of England (6.45%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (6.60%) and STOCKTON MORTGAGE CORPORATION (6.73%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Frankfort (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 | $179,900 (20.0%) | $234,071 (17.6%) | 0.00 | 246 |
2018-02-01 | $175,200 (7.9%) | $233,568 (5.9%) | 0.00 | 229 |
2018-03-01 | $172,450 (6.2%) | $230,636 (0.7%) | 0.00 | 222 |
2018-04-01 | $197,450 (19.7%) | $252,258 (7.6%) | 0.00 | 223 |
2018-05-01 | $209,375 (26.4%) | $256,449 (11.2%) | 0.00 | 245 |
2018-06-01 | $219,000 (27.0%) | $262,650 (10.8%) | 0.00 | 251 |
2018-07-01 | $224,900 (25.0%) | $265,752 (10.1%) | 0.00 | 283 |
2018-08-01 | $224,975 (25.4%) | $267,644 (10.0%) | 0.00 | 296 |
2018-09-01 | $227,500 (27.1%) | $269,349 (8.0%) | 0.00 | 285 |
2018-10-01 | $214,100 (16.1%) | $265,416 (7.8%) | 0.00 | 276 |
2018-11-01 | $195,829 (7.9%) | $251,637 (2.4%) | 0.00 | 268 |
2018-12-01 | $189,900 (4.3%) | $246,015 (1.5%) | 0.00 | 256 |
2019-01-01 | $189,075 (5.1%) | $235,776 (0.7%) | 0.00 | 247 |
2019-02-01 | $190,950 (9.0%) | $251,182 (7.5%) | 0.00 | 239 |
2019-03-01 | $206,943 (20.0%) | $265,193 (15.0%) | 0.00 | 224 |
2019-04-01 | $223,375 (13.1%) | $282,163 (11.9%) | 0.00 | 208 |
2019-05-01 | $219,900 (5.0%) | $282,608 (10.2%) | 0.00 | 211 |
2019-06-01 | $218,000 (-0.5%) | $278,600 (6.1%) | 0.00 | 192 |
2019-07-01 | $193,725 (-13.9%) | $262,645 (-1.2%) | 0.00 | 219 |
2019-08-01 | $198,691 (-11.7%) | $261,111 (-2.4%) | 0.00 | 224 |
2019-09-01 | $205,052 (-9.9%) | $262,052 (-2.7%) | 0.00 | 223 |
2019-10-01 | $209,225 (-2.3%) | $262,679 (-1.0%) | 0.00 | 233 |
2019-11-01 | $218,400 (11.5%) | $282,147 (12.1%) | 0.00 | 241 |
2019-12-01 | $215,900 (13.7%) | $287,080 (16.7%) | 0.00 | 236 |
2020-01-01 | $219,250 (16.0%) | $287,263 (21.8%) | 0.00 | 216 |
2020-02-01 | $226,750 (18.8%) | $299,098 (19.1%) | 0.00 | 191 |
2020-03-01 | $245,236 (18.5%) | $305,023 (15.0%) | 0.00 | 174 |
2020-04-01 | $244,639 (9.5%) | $303,086 (7.4%) | 0.00 | 165 |
2020-05-01 | $259,860 (18.2%) | $334,162 (18.2%) | 0.00 | 158 |
2020-06-01 | $252,000 (15.6%) | $357,114 (28.2%) | 0.00 | 131 |
2020-07-01 | $255,425 (31.9%) | $349,922 (33.2%) | 0.00 | 134 |
2020-08-01 | $242,120 (21.9%) | $320,788 (22.9%) | 0.00 | 122 |
2020-09-01 | $234,650 (14.4%) | $317,210 (21.1%) | 0.00 | 117 |
2020-10-01 | $213,450 (2.0%) | $312,062 (18.8%) | 0.00 | 123 |
2020-11-01 | $215,900 (-1.1%) | $298,751 (5.9%) | 0.00 | 127 |
2020-12-01 | $199,500 (-7.6%) | $275,044 (-4.2%) | 0.00 | 126 |
2021-01-01 | $195,000 (-11.1%) | $271,927 (-5.3%) | 0.00 | 113 |
2021-02-01 | $250,650 (10.5%) | $311,071 (4.0%) | 0.00 | 83 |
2021-03-01 | $252,175 (2.8%) | $304,138 (-0.3%) | 0.00 | 74 |
2021-04-01 | $257,400 (5.2%) | $286,813 (-5.4%) | 0.00 | 58 |
2021-05-01 | $263,970 (1.6%) | $298,726 (-10.6%) | 0.00 | 62 |
2021-06-01 | $229,450 (-9.0%) | $285,507 (-20.1%) | 0.00 | 76 |
2021-07-01 | $240,000 (-6.0%) | $285,188 (-18.5%) | 0.00 | 98 |
2021-08-01 | $234,975 (-3.0%) | $267,570 (-16.6%) | 0.00 | 108 |
2021-09-01 | $240,825 (2.6%) | $280,858 (-11.5%) | 0.00 | 124 |
2021-10-01 | $229,900 (7.7%) | $280,683 (-10.1%) | 0.00 | 133 |
2021-11-01 | $238,625 (10.5%) | $273,328 (-8.5%) | 0.00 | 118 |
2021-12-01 | $229,675 (15.1%) | $279,180 (1.5%) | 0.00 | 105 |
2022-01-01 | $222,500 (14.1%) | $270,704 (-0.5%) | 0.00 | 94 |
2022-02-01 | $231,975 (-7.5%) | $272,826 (-12.3%) | 0.00 | 74 |
2022-03-01 | $268,575 (6.5%) | $293,104 (-3.6%) | 0.00 | 62 |
2022-04-01 | $279,900 (8.7%) | $263,607 (-8.1%) | 0.00 | 56 |
2022-05-01 | $278,725 (5.6%) | $290,312 (-2.8%) | 0.00 | 56 |
2022-06-01 | $279,106 (21.6%) | $294,436 (3.1%) | 0.00 | 64 |
2022-07-01 | $279,000 (16.3%) | $318,575 (11.7%) | 0.00 | 87 |
2022-08-01 | $282,000 (20.0%) | $327,579 (22.4%) | 0.00 | 104 |
2022-09-01 | $296,500 (23.1%) | $338,394 (20.5%) | 0.00 | 114 |
2022-10-01 | $294,700 (28.2%) | $343,167 (22.3%) | 0.00 | 134 |
2022-11-01 | $287,625 (20.5%) | $340,287 (24.5%) | 0.00 | 143 |
2022-12-01 | $285,000 (24.1%) | $335,950 (20.3%) | 0.00 | 133 |
2023-01-01 | $310,700 (39.6%) | $354,477 (31.0%) | 0.00 | 115 |
2023-02-01 | $299,450 (29.1%) | $344,475 (26.3%) | 0.00 | 106 |
2023-03-01 | $317,975 (18.4%) | $349,575 (19.3%) | 0.00 | 105 |
2023-04-01 | $315,928 (12.9%) | $343,931 (30.5%) | 0.00 | 91 |
2023-05-01 | $327,414 (17.5%) | $360,095 (24.0%) | 0.00 | 82 |
2023-06-01 | $351,215 (25.8%) | $364,602 (23.8%) | 0.00 | 94 |
2023-07-01 | $333,658 (19.6%) | $350,292 (10.0%) | 0.00 | 101 |
2023-08-01 | $324,950 (15.2%) | $355,026 (8.4%) | 0.00 | 88 |
2023-09-01 | $287,000 (-3.2%) | $343,409 (1.5%) | 0.00 | 103 |
2023-10-01 | $307,200 (4.2%) | $349,205 (1.8%) | 0.00 | 112 |
2023-11-01 | $302,975 (5.3%) | $349,171 (2.6%) | 0.00 | 117 |
2023-12-01 | $299,900 (5.2%) | $337,211 (0.4%) | 0.00 | 105 |
2024-01-01 | $309,900 (-0.3%) | $344,113 (-2.9%) | 0.00 | 97 |
2024-02-01 | $304,475 (1.7%) | $343,427 (-0.3%) | 0.00 | 87 |
2024-03-01 | $344,950 (8.5%) | $349,013 (-0.2%) | 0.00 | 87 |
2024-04-01 | $340,445 (7.8%) | $380,689 (10.7%) | 0.00 | 101 |
2024-05-01 | $372,450 (13.8%) | $431,743 (19.9%) | 0.00 | 101 |
2024-06-01 | $346,530 (-1.3%) | $389,537 (6.8%) | 0.00 | 119 |
2024-07-01 | $329,250 (-1.3%) | $391,456 (11.8%) | 0.00 | 137 |
2024-08-01 | $345,000 (6.2%) | $387,748 (9.2%) | 0.00 | 149 |
2024-09-01 | $345,000 (20.2%) | $368,668 (7.4%) | 0.00 | 169 |
2024-10-01 | $345,233 (12.4%) | $369,645 (5.9%) | 0.00 | 169 |
Frankfort's median listing price comes in at 0% of the national average.
Frankfort's average listing price for 2024-10-01 was $369,645, a difference of $20,440 (5.9%) versus the prior year and $977 versus the prior month.
For the 2024-10-01 period, Frankfort had 169 MLS listings, a difference of 0 listings (0%) versus the prior month and 57 listings (51%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Frankfort (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,818 sqft |
2018-02-01 | 0 days | 1,788 sqft |
2018-03-01 | 0 days | 1,765 sqft |
2018-04-01 | 0 days | 1,867 sqft |
2018-05-01 | 0 days | 1,960 sqft |
2018-06-01 | 0 days | 2,022 sqft |
2018-07-01 | 0 days | 2,033 sqft |
2018-08-01 | 0 days | 2,077 sqft |
2018-09-01 | 0 days | 2,041 sqft |
2018-10-01 | 0 days | 1,992 sqft |
2018-11-01 | 0 days | 1,890 sqft |
2018-12-01 | 0 days | 1,859 sqft |
2019-01-01 | 0 days | 1,818 sqft |
2019-02-01 | 0 days | 1,850 sqft |
2019-03-01 | 0 days | 1,926 sqft |
2019-04-01 | 0 days | 2,011 sqft |
2019-05-01 | 0 days | 2,024 sqft |
2019-06-01 | 0 days | 2,024 sqft |
2019-07-01 | 0 days | 1,948 sqft |
2019-08-01 | 0 days | 1,898 sqft |
2019-09-01 | 0 days | 1,877 sqft |
2019-10-01 | 0 days | 1,863 sqft |
2019-11-01 | 0 days | 1,874 sqft |
2019-12-01 | 0 days | 1,883 sqft |
2020-01-01 | 0 days | 1,898 sqft |
2020-02-01 | 0 days | 1,975 sqft |
2020-03-01 | 0 days | 2,014 sqft |
2020-04-01 | 0 days | 2,013 sqft |
2020-05-01 | 0 days | 2,039 sqft |
2020-06-01 | 0 days | 2,037 sqft |
2020-07-01 | 0 days | 2,038 sqft |
2020-08-01 | 0 days | 1,943 sqft |
2020-09-01 | 0 days | 1,829 sqft |
2020-10-01 | 0 days | 1,803 sqft |
2020-11-01 | 0 days | 1,817 sqft |
2020-12-01 | 0 days | 1,722 sqft |
2021-01-01 | 0 days | 1,777 sqft |
2021-02-01 | 0 days | 1,916 sqft |
2021-03-01 | 0 days | 1,868 sqft |
2021-04-01 | 0 days | 1,825 sqft |
2021-05-01 | 0 days | 1,804 sqft |
2021-06-01 | 0 days | 1,777 sqft |
2021-07-01 | 0 days | 1,786 sqft |
2021-08-01 | 0 days | 1,764 sqft |
2021-09-01 | 0 days | 1,763 sqft |
2021-10-01 | 0 days | 1,669 sqft |
2021-11-01 | 0 days | 1,660 sqft |
2021-12-01 | 0 days | 1,677 sqft |
2022-01-01 | 0 days | 1,619 sqft |
2022-02-01 | 0 days | 1,571 sqft |
2022-03-01 | 0 days | 1,728 sqft |
2022-04-01 | 0 days | 1,736 sqft |
2022-05-01 | 0 days | 1,732 sqft |
2022-06-01 | 0 days | 1,743 sqft |
2022-07-01 | 0 days | 1,807 sqft |
2022-08-01 | 0 days | 1,830 sqft |
2022-09-01 | 0 days | 1,923 sqft |
2022-10-01 | 0 days | 1,977 sqft |
2022-11-01 | 0 days | 1,892 sqft |
2022-12-01 | 0 days | 1,863 sqft |
2023-01-01 | 0 days | 2,026 sqft |
2023-02-01 | 0 days | 1,972 sqft |
2023-03-01 | 0 days | 2,018 sqft |
2023-04-01 | 0 days | 1,903 sqft |
2023-05-01 | 0 days | 1,916 sqft |
2023-06-01 | 0 days | 2,031 sqft |
2023-07-01 | 0 days | 2,010 sqft |
2023-08-01 | 0 days | 1,936 sqft |
2023-09-01 | 0 days | 1,836 sqft |
2023-10-01 | 0 days | 1,906 sqft |
2023-11-01 | 0 days | 1,829 sqft |
2023-12-01 | 0 days | 1,804 sqft |
2024-01-01 | 0 days | 1,800 sqft |
2024-02-01 | 0 days | 1,756 sqft |
2024-03-01 | 0 days | 1,844 sqft |
2024-04-01 | 0 days | 1,831 sqft |
2024-05-01 | 0 days | 1,957 sqft |
2024-06-01 | 0 days | 2,010 sqft |
2024-07-01 | 0 days | 1,994 sqft |
2024-08-01 | 0 days | 2,015 sqft |
2024-09-01 | 0 days | 1,938 sqft |
2024-10-01 | 0 days | 1,911 sqft |
Frankfort's median square footage for active listings during the 2024-10-01 period was 1,911 sqft. One year prior, the average listing was 1,906 sqft.