Glasgow FHA Loan Rates, Closing Costs & Stats

Glasgow, 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.

    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 6.36% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

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

    The average rate for the prior week (2024-12-06) was 6.32% and one month ago for the week of 2024-11-08, the average rate was 6.79%.

    The average rate one year ago was 7%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.48%.

    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
    2024-06-01 $269,900 (10.0%) $310,032 (-8.1%) 0.00 120
    2024-07-01 $276,975 (15.5%) $321,967 (9.2%) 0.00 126
    2024-08-01 $276,250 (15.0%) $323,932 (8.4%) 0.00 132
    2024-09-01 $269,900 (9.1%) $327,947 (8.9%) 0.00 147
    2024-10-01 $269,900 (8.5%) $329,206 (2.7%) 0.00 159
    2024-11-01 $277,000 (16.5%) $330,204 (10.7%) 0.00 172
    Glasgow's median listing price for 2024-11-01 was $277,000, a difference of $39,250 (16.5%) versus the prior year and $7,100 versus the prior month.

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

    Glasgow's average listing price for 2024-11-01 was $330,204, a difference of $31,917 (10.7%) versus the prior year and $998 versus the prior month.

    For the 2024-11-01 period, Glasgow had 172 MLS listings, a difference of 13 listings (8%) versus the prior month and 53 listings (45%) 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
    2024-06-01 0 days 1,778 sqft
    2024-07-01 0 days 1,843 sqft
    2024-08-01 0 days 1,900 sqft
    2024-09-01 0 days 1,806 sqft
    2024-10-01 0 days 1,794 sqft
    2024-11-01 0 days 1,808 sqft
    Glasgow's median listing age (time on market) for 2024-11-01 was 0 days.

    Glasgow's median square footage for active listings during the 2024-11-01 period was 1,808 sqft. One year prior, the average listing was 1,651 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).