Glasgow FHA Loan Rates, Closing Costs & Stats

Glasgow, 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.

Glasgow's 39 lenders originated 141 FHA loans during 2023. The total origination value was $25,875,000, with an average FHA loan value of $183,511.

Glasgow FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Glasgow averaged 6.97% for the week of 2024-06-07, compared to the national average (all FHA variants) of 6.692% for the same period.

Glasgow's average FHA mortgage closing costs are $6,368.

The average rate for the prior week (2024-05-31) was 6.75% and one month ago for the week of 2024-05-03, the average rate was 7.25%.

The average rate one year ago was 6.62%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.69%.

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

Glasgow 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 Glasgow level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 17 6.68% $9,047
STOCKTON MORTGAGE CORPORATION 15 6.73% $10,070
ROSS MORTGAGE CORPORATION 12 6.67% $9,383
QUICKEN LOANS, LLC 11 6.80% $6,979
RUOFF MORTGAGE COMPANY, INC. 9 6.90% $5,334
Century Mortgage Company DBA Century Lending Company 7 6.50% $9,150
EVERETT FINANCIAL, INC. 7 6.79% $6,927
EVANSVILLE TEACHERS 5 6.63% $6,810
BROKER SOLUTIONS, INC. 4 7.16% $12,237
SOUTH CENTRAL BANK, INC. 4 6.91% $5,749
UNITED WHOLESALE MORTGAGE, LLC 4 7.23% $13,223
Magnolia Bank 3 6.67% $10,428
GENEVA FINANCIAL, LLC 3 7.21% $7,068
German American Bank 3 6.54% $6,162
U.S. Bank 3 6.96% $6,220
PLANET HOME LENDING, LLC 2 5.63% $7,340
MOVEMENT MORTGAGE, LLC 2 6.38% $8,258
Mortgage Research Center, LLC 2 7.19% $11,498
HOMESIDE FINANCIAL, LLC 2 6.56% $7,026
AMERISAVE MORTGAGE CORPORATION 1 7.75% $13,744
ZILLOW HOME LOANS, LLC 1 6.75% $8,016
Carrington Mortgage Services, LLC 1 7.13% $10,198
Citizens Bank 1 6.13% $11,526
CROSSCOUNTRY MORTGAGE, LLC 1 7.75% $10,899
ENDEAVOR CAPITAL, LLC. 1 7.50% $8,397
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 5.63% $9,715
Forcht Bank 1 6.00% $5,868
FREEDOM MORTGAGE CORPORATION 1 6.75% $12,365
GUARANTEED RATE, INC. 1 6.75% $13,625
LAKEVIEW LOAN SERVICING, LLC 1 5.75% $13,223
LOANDEPOT.COM, LLC 1 8.13% $6,200
Mr. Cooper ( Nationstar Mortgage ) 1 6.63% $16,283
NATIONS DIRECT MORTGAGE, LLC 1 6.63% $10,790
NEWREZ LLC 1 7.13% $6,034
Northpointe Bank 1 6.75% $7,664
PENNYMAC LOAN SERVICES, LLC 1 6.50% $11,846
PREMIA MORTGAGE, LLC 1 7.25% $4,648
ROYAL UNITED MORTGAGE LLC 1 7.75% $6,469
SeaTrust Mortgage Company 1 6.99% $8,316

The top Glasgow FHA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with 17 FHA loans originated. Their average total fees are $9,047, which is $1,023 lower than the next largest lender, STOCKTON MORTGAGE CORPORATION.

The lowest fee Glasgow FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($6,979), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($9,047), ROSS MORTGAGE CORPORATION ($9,383), STOCKTON MORTGAGE CORPORATION ($10,070) and .

The lowest rate Glasgow FHA lenders (with over 10 loans originated) are ROSS MORTGAGE CORPORATION (6.67%), ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.68%), STOCKTON MORTGAGE CORPORATION (6.73%), QUICKEN LOANS, LLC (6.80%) and .

Glasgow FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Glasgow (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 $149,900 (7.9%) $183,871 (-0.9%) 0.00 170
2018-02-01 $149,000 (4.8%) $177,655 (-10.6%) 0.00 167
2018-03-01 $164,500 (9.7%) $200,363 (-2.9%) 0.00 157
2018-04-01 $156,725 (-3.5%) $192,363 (-7.9%) 0.00 168
2018-05-01 $149,900 (-10.5%) $188,067 (-13.2%) 0.00 179
2018-06-01 $144,900 (-15.6%) $185,880 (-17.1%) 0.00 208
2018-07-01 $145,000 (-13.7%) $185,383 (-16.0%) 0.00 214
2018-08-01 $144,900 (-13.4%) $182,402 (-14.7%) 0.00 213
2018-09-01 $145,000 (-7.6%) $186,169 (-6.0%) 0.00 211
2018-10-01 $149,800 (-0.1%) $185,714 (-2.3%) 0.00 222
2018-11-01 $152,225 (-1.2%) $183,550 (-3.0%) 0.00 216
2018-12-01 $142,200 (-10.0%) $173,429 (-8.5%) 0.00 227
2019-01-01 $137,375 (-8.4%) $169,081 (-8.0%) 0.00 210
2019-02-01 $139,000 (-6.7%) $174,098 (-2.0%) 0.00 204
2019-03-01 $143,957 (-12.5%) $181,999 (-9.2%) 0.00 201
2019-04-01 $150,425 (-4.0%) $188,320 (-2.1%) 0.00 201
2019-05-01 $159,900 (6.7%) $205,156 (9.1%) 0.00 184
2019-06-01 $154,900 (6.9%) $207,688 (11.7%) 0.00 177
2019-07-01 $164,300 (13.3%) $210,703 (13.7%) 0.00 183
2019-08-01 $168,564 (16.3%) $219,543 (20.4%) 0.00 184
2019-09-01 $166,559 (14.9%) $216,893 (16.5%) 0.00 190
2019-10-01 $165,000 (10.2%) $214,214 (15.4%) 0.00 190
2019-11-01 $164,900 (8.3%) $206,682 (12.6%) 0.00 185
2019-12-01 $159,900 (12.5%) $204,773 (18.1%) 0.00 175
2020-01-01 $158,450 (15.3%) $202,045 (19.5%) 0.00 172
2020-02-01 $155,000 (11.5%) $197,682 (13.6%) 0.00 178
2020-03-01 $172,000 (19.5%) $216,972 (19.2%) 0.00 153
2020-04-01 $172,500 (14.7%) $220,216 (16.9%) 0.00 143
2020-05-01 $180,750 (13.0%) $224,743 (9.6%) 0.00 138
2020-06-01 $185,800 (20.0%) $236,491 (13.9%) 0.00 114
2020-07-01 $198,000 (20.5%) $260,884 (23.8%) 0.00 103
2020-08-01 $198,500 (17.8%) $264,128 (20.3%) 0.00 105
2020-09-01 $193,475 (16.2%) $258,245 (19.1%) 0.00 88
2020-10-01 $212,000 (28.5%) $273,103 (27.5%) 0.00 85
2020-11-01 $221,750 (34.5%) $279,405 (35.2%) 0.00 81
2020-12-01 $203,675 (27.4%) $271,117 (32.4%) 0.00 86
2021-01-01 $189,900 (19.9%) $265,452 (31.4%) 0.00 85
2021-02-01 $199,000 (28.4%) $264,213 (33.7%) 0.00 85
2021-03-01 $187,950 (9.3%) $254,666 (17.4%) 0.00 76
2021-04-01 $189,225 (9.7%) $272,692 (23.8%) 0.00 70
2021-05-01 $174,000 (-3.7%) $246,283 (9.6%) 0.00 79
2021-06-01 $185,950 (0.1%) $254,744 (7.7%) 0.00 79
2021-07-01 $198,500 (0.3%) $246,137 (-5.7%) 0.00 82
2021-08-01 $199,000 (0.3%) $274,585 (4.0%) 0.00 92
2021-09-01 $192,400 (-0.6%) $265,602 (2.9%) 0.00 115
2021-10-01 $190,500 (-10.1%) $260,563 (-4.6%) 0.00 141
2021-11-01 $187,400 (-15.5%) $249,647 (-10.7%) 0.00 161
2021-12-01 $182,325 (-10.5%) $250,021 (-7.8%) 0.00 149
2022-01-01 $171,250 (-9.8%) $233,628 (-12.0%) 0.00 127
2022-02-01 $175,450 (-11.8%) $234,781 (-11.1%) 0.00 103
2022-03-01 $167,075 (-11.1%) $227,084 (-10.8%) 0.00 89
2022-04-01 $171,450 (-9.4%) $217,946 (-20.1%) 0.00 95
2022-05-01 $187,575 (7.8%) $233,075 (-5.4%) 0.00 103
2022-06-01 $206,850 (11.2%) $246,186 (-3.4%) 0.00 110
2022-07-01 $219,950 (10.8%) $263,581 (7.1%) 0.00 104
2022-08-01 $224,500 (12.8%) $263,400 (-4.1%) 0.00 116
2022-09-01 $225,225 (17.1%) $251,977 (-5.1%) 0.00 126
2022-10-01 $229,500 (20.5%) $277,703 (6.6%) 0.00 132
2022-11-01 $229,800 (22.6%) $287,935 (15.3%) 0.00 142
2022-12-01 $228,950 (25.6%) $291,924 (16.8%) 0.00 154
2023-01-01 $228,000 (33.1%) $279,859 (19.8%) 0.00 108
2023-02-01 $241,200 (37.5%) $294,548 (25.5%) 0.00 98
2023-03-01 $244,500 (46.3%) $307,749 (35.5%) 0.00 100
2023-04-01 $239,000 (39.4%) $304,606 (39.8%) 0.00 92
2023-05-01 $240,175 (28.0%) $314,001 (34.7%) 0.00 97
2023-06-01 $245,400 (18.6%) $337,518 (37.1%) 0.00 90
2023-07-01 $239,900 (9.1%) $294,851 (11.9%) 0.00 97
2023-08-01 $240,175 (7.0%) $298,772 (13.4%) 0.00 91
2023-09-01 $247,450 (9.9%) $301,195 (19.5%) 0.00 97
2023-10-01 $248,675 (8.4%) $320,658 (15.5%) 0.00 110
2023-11-01 $237,750 (3.5%) $298,287 (3.6%) 0.00 119
2023-12-01 $239,000 (4.4%) $296,113 (1.4%) 0.00 119
2024-01-01 $238,375 (4.6%) $291,576 (4.2%) 0.00 116
2024-02-01 $244,225 (1.3%) $291,452 (-1.1%) 0.00 115
2024-03-01 $269,000 (10.0%) $300,860 (-2.2%) 0.00 113
2024-04-01 $247,450 (3.5%) $285,532 (-6.3%) 0.00 119
2024-05-01 $262,700 (9.4%) $303,331 (-3.4%) 0.00 121
Glasgow's median listing price for 2024-05-01 was $262,700, a difference of $22,525 (9.4%) versus the prior year and $15,250 versus the prior month.

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

Glasgow's average listing price for 2024-05-01 was $303,331, a difference of $-10,670 (-3.4%) versus the prior year and $17,799 versus the prior month.

For the 2024-05-01 period, Glasgow had 121 MLS listings, a difference of 2 listings (2%) versus the prior month and 24 listings (25%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Glasgow (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,754 sqft
2018-02-01 0 days 1,780 sqft
2018-03-01 0 days 1,856 sqft
2018-04-01 0 days 1,815 sqft
2018-05-01 0 days 1,813 sqft
2018-06-01 0 days 1,792 sqft
2018-07-01 0 days 1,810 sqft
2018-08-01 0 days 1,801 sqft
2018-09-01 0 days 1,800 sqft
2018-10-01 0 days 1,840 sqft
2018-11-01 0 days 1,829 sqft
2018-12-01 0 days 1,689 sqft
2019-01-01 0 days 1,652 sqft
2019-02-01 0 days 1,687 sqft
2019-03-01 0 days 1,716 sqft
2019-04-01 0 days 1,727 sqft
2019-05-01 0 days 1,832 sqft
2019-06-01 0 days 1,810 sqft
2019-07-01 0 days 1,862 sqft
2019-08-01 0 days 1,898 sqft
2019-09-01 0 days 1,864 sqft
2019-10-01 0 days 1,821 sqft
2019-11-01 0 days 1,750 sqft
2019-12-01 0 days 1,734 sqft
2020-01-01 0 days 1,698 sqft
2020-02-01 0 days 1,696 sqft
2020-03-01 0 days 1,697 sqft
2020-04-01 0 days 1,787 sqft
2020-05-01 0 days 1,810 sqft
2020-06-01 0 days 1,897 sqft
2020-07-01 0 days 1,920 sqft
2020-08-01 0 days 1,728 sqft
2020-09-01 0 days 1,817 sqft
2020-10-01 0 days 2,012 sqft
2020-11-01 0 days 2,044 sqft
2020-12-01 0 days 1,904 sqft
2021-01-01 0 days 1,838 sqft
2021-02-01 0 days 1,757 sqft
2021-03-01 0 days 1,644 sqft
2021-04-01 0 days 1,761 sqft
2021-05-01 0 days 1,623 sqft
2021-06-01 0 days 1,830 sqft
2021-07-01 0 days 1,713 sqft
2021-08-01 0 days 1,777 sqft
2021-09-01 0 days 1,675 sqft
2021-10-01 0 days 1,602 sqft
2021-11-01 0 days 1,578 sqft
2021-12-01 0 days 1,523 sqft
2022-01-01 0 days 1,457 sqft
2022-02-01 0 days 1,387 sqft
2022-03-01 0 days 1,338 sqft
2022-04-01 0 days 1,414 sqft
2022-05-01 0 days 1,453 sqft
2022-06-01 0 days 1,562 sqft
2022-07-01 0 days 1,733 sqft
2022-08-01 0 days 1,741 sqft
2022-09-01 0 days 1,902 sqft
2022-10-01 0 days 1,872 sqft
2022-11-01 0 days 1,812 sqft
2022-12-01 0 days 1,686 sqft
2023-01-01 0 days 1,824 sqft
2023-02-01 0 days 1,898 sqft
2023-03-01 0 days 1,910 sqft
2023-04-01 0 days 1,796 sqft
2023-05-01 0 days 1,909 sqft
2023-06-01 0 days 1,999 sqft
2023-07-01 0 days 1,830 sqft
2023-08-01 0 days 1,828 sqft
2023-09-01 0 days 1,724 sqft
2023-10-01 0 days 1,728 sqft
2023-11-01 0 days 1,651 sqft
2023-12-01 0 days 1,728 sqft
2024-01-01 0 days 1,712 sqft
2024-02-01 0 days 1,690 sqft
2024-03-01 0 days 1,726 sqft
2024-04-01 0 days 1,607 sqft
2024-05-01 0 days 1,690 sqft
Glasgow's median listing age (time on market) for 2024-05-01 was 0 days.

Glasgow's median square footage for active listings during the 2024-05-01 period was 1,690 sqft. One year prior, the average listing was 1,909 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).