Lexington FHA Loan Rates, Closing Costs & Stats

LEXINGTON-FAYETTE, 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.

    Lexington's 113 lenders originated 1,319 FHA loans during 2024. The total origination value was $359,165,000, with an average FHA loan value of $272,301.

    Lexington FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Lexington averaged 6.62% for the week of 2025-04-11, compared to the national average (all FHA variants) of 6.429% for the same period.

    Lexington's average FHA mortgage closing costs are $7,277.

    The average rate for the prior week (2025-04-04) was 6.34% and one month ago for the week of 2025-03-07, the average rate was 6.71%.

    The average rate one year ago was 6.96%.

    For refis of the same type during the week of 2025-04-11, the average rate was 6.39%.

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

    Lexington 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 Lexington level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    STOCKTON MORTGAGE CORPORATION 163 6.33% $11,629
    QUICKEN LOANS, LLC 130 6.38% $10,487
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 122 6.58% $8,284
    UNITED WHOLESALE MORTGAGE, LLC 69 6.27% $11,671
    Bank of England 58 6.62% $10,944
    FREEDOM MORTGAGE CORPORATION 42 6.33% $11,438
    PENNYMAC LOAN SERVICES, LLC 38 6.07% $10,131
    BROKER SOLUTIONS, INC. 36 6.67% $11,469
    GENEVA FINANCIAL, LLC 32 6.55% $10,737
    Republic State Mortgage Co. 28 6.60% $9,707
    Peoples Exchange Bank 27 6.05% $6,986
    Republic Bank & Trust Company 25 6.20% $8,778
    T2 FINANCIAL LLC 19 6.07% $10,113
    Guardian Savings Bank, A Federal Savings Bank 17 6.18% $7,430
    Stock Yards Bank & Trust Company 16 6.52% $8,689
    NEWREZ LLC 16 6.32% $10,130
    HOMESIDE FINANCIAL, LLC 16 5.93% $13,290
    RUOFF MORTGAGE COMPANY, INC. 15 6.68% $8,253
    LOANDEPOT.COM, LLC 15 6.34% $9,904
    U.S. Bank 14 6.47% $8,699
    FBC MORTGAGE, LLC 13 6.16% $13,997
    UNION HOME MORTGAGE CORP. 12 6.75% $10,693
    Ixonia Bank 11 6.81% $10,107
    Fifth Third Bank 10 6.53% $8,716
    Century Mortgage Company DBA Century Lending Company 10 6.33% $12,051
    Mortgage Research Center, LLC 9 6.43% $7,473
    Flagstar Bank, FSB 9 6.35% $7,549
    Central Bank 9 6.22% $6,852
    Prosperity Home Mortgage, LLC 9 6.24% $12,375
    PRIMELENDING, A PLAINSCAPITAL COMPANY 8 6.61% $14,668
    CROSSCOUNTRY MORTGAGE, LLC 8 6.29% $11,812
    Northpointe Bank 8 6.36% $11,084
    LAKEVIEW LOAN SERVICING, LLC 7 6.29% $9,127
    Equity Prime Mortgage LLC 7 6.66% $11,080
    GUARANTEED RATE, INC. 7 6.80% $9,440
    Carrington Mortgage Services, LLC 6 6.48% $14,610
    Paramount Residential Mortgage Group, Inc. 6 6.73% $13,076
    Traditional Bank, Inc. 6 6.71% $8,868
    PNC Bank 6 6.60% $8,066
    SWBC MORTGAGE CORPORATION 6 6.35% $10,066
    AmRes Corporation 6 7.12% $11,723
    Mr. Cooper ( Nationstar Mortgage ) 6 6.81% $11,970
    ENDEAVOR CAPITAL, LLC. 5 6.62% $8,634
    TOP FLITE FINANCIAL, INC. 5 6.87% $17,540
    JPMorgan Chase Bank 5 6.45% $9,492
    WesBanco 5 5.93% $8,644
    American Mortgage & Equity Consultants, Inc. 4 6.28% $12,059
    SOUTH CENTRAL BANK, INC. 4 6.03% $8,181
    AMERISAVE MORTGAGE CORPORATION 4 6.25% $15,082
    DAS Acquisition Company, LLC 4 6.53% $10,040
    AmeriHome Mortgage Company, LLC 4 6.47% $7,832
    ROYAL UNITED MORTGAGE LLC 4 6.88% $9,214
    PLANET HOME LENDING, LLC 4 5.20% $6,887
    MUTUAL OF OMAHA MORTGAGE, INC. 4 6.88% $9,421
    MID AMERICA MORTGAGE, INC. 3 6.29% $11,165
    GoPrime Mortgage, Inc. 3 7.08% $9,132
    ENVOY MORTGAGE, LTD 3 6.17% $10,327
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 6.58% $13,722
    VILLAGE CAPITAL MORTGAGE 3 6.21% $6,960
    SUN WEST MORTGAGE COMPANY, INC. 3 6.50% $9,977
    Magnolia Bank 2 6.00% $8,987
    Bank of America 2 6.06% $3,589
    BOKF 2 6.88% $9,851
    CARDINAL FINANCIAL 2 6.31% $10,591
    CITY FIRST MORTGAGE SERVICES, L.L.C. 2 6.38% $12,039
    EMM LOANS LLC 2 6.19% $14,748
    EVERETT FINANCIAL, INC. 2 5.88% $12,640
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.13% $12,032
    FIRST ALLIANCE HOME MORTGAGE, LLC 2 6.06% $16,893
    GUILD MORTGAGE COMPANY 2 6.13% $10,737
    MYCUMORTGAGE, LLC 2 6.75% $5,291
    Nations Lending Corporation 2 5.75% $15,464
    NATIONS RELIABLE LENDING, LLC 2 6.00% $10,804
    NEXERA HOLDING LLC 2 6.19% $7,493
    PHH Mortgage Corporation 2 6.56% $8,545
    Plains Commerce Bank 2 5.75% $9,245
    Renasant Bank 2 6.44% $4,820
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.25% $7,635
    TJC Mortgage, Inc. 2 6.44% $7,868
    NBKC BANK 1 6.13% $6,650
    M&T Bank 1 5.13% $25,657
    PREMIER LENDING, INC. 1 7.13% $11,922
    MOVEMENT MORTGAGE, LLC 1 5.75% $13,942
    MEMBER FIRST MORTGAGE, LLC 1 6.75% $5,548
    AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $13,379
    RELIANCE FIRST CAPITAL, LLC 1 6.75% $13,986
    Wells Fargo Bank 1 6.25% $9,864
    LIBERTY HOME MORTGAGE CORPORATION 1 7.13% $3,578
    LAND HOME FINANCIAL SERVICES, INC. 1 7.50% $15,070
    INTERLINC MORTGAGE SERVICES, LLC 1 5.75% $12,216
    FIRST MORTGAGE COMPANY, INC. 1 7.00% $8,635
    SeaTrust Mortgage Company 1 6.13% $11,870
    First Financial Bank 1 6.25% $9,112
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.00% $5,009
    First Federal Bank 1 6.38% $8,427
    EVANSVILLE TEACHERS 1 6.25% $6,705
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.50% $17,027
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 7.63% $7,747
    DATA MORTGAGE, INC. 1 6.13% $6,435
    Civista Bank 1 7.13% $7,982
    The Central Trust Bank 1 6.63% $9,540
    The Federal Savings Bank 1 6.25% $19,552
    ZILLOW HOME LOANS, LLC 1 7.25% $8,066
    BETTER MORTGAGE CORPORATION 1 5.75% $15,463
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.00% $10,015
    Truist 1 6.60% $7,754
    BAY EQUITY LLC 1 7.00% $7,980
    Barrington Bank & Trust Company, N.A. 1 6.75% $8,399
    Old National Bank 1 6.13% $8,166
    PENTAGON FEDERAL CREDIT UNION 1 5.38% $12,144
    NFM, INC. 1 6.13% $7,255
    BancorpSouth 1 6.50% $10,455
    AMERICAN FINANCING CORPORATION 1 5.88% $10,158

    The top Lexington FHA lender as defined by loan originations is STOCKTON MORTGAGE CORPORATION, with 163 FHA loans originated. Their average total fees are $11,629, which is $1,142 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Lexington FHA lenders (with over 10 loans originated) are Peoples Exchange Bank ($6,986), Guardian Savings Bank, A Federal Savings Bank ($7,430), RUOFF MORTGAGE COMPANY, INC. ($8,253), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($8,284) and Stock Yards Bank & Trust Company ($8,689).

    The lowest rate Lexington FHA lenders (with over 10 loans originated) are HOMESIDE FINANCIAL, LLC (5.93%), Peoples Exchange Bank (6.05%), PENNYMAC LOAN SERVICES, LLC (6.07%), T2 FINANCIAL LLC (6.07%) and FBC MORTGAGE, LLC (6.16%).

    Lexington FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    LEXINGTON-FAYETTE, KY BOURBON 2022 $420,680 $538,650 $651,050 $809,150
    LEXINGTON-FAYETTE, KY CLARK 2022 $420,680 $538,650 $651,050 $809,150
    LEXINGTON-FAYETTE, KY FAYETTE 2022 $420,680 $538,650 $651,050 $809,150
    LEXINGTON-FAYETTE, KY JESSAMINE 2022 $420,680 $538,650 $651,050 $809,150
    LEXINGTON-FAYETTE, KY SCOTT 2022 $420,680 $538,650 $651,050 $809,150
    LEXINGTON-FAYETTE, KY WOODFORD 2022 $420,680 $538,650 $651,050 $809,150
    LEXINGTON-FAYETTE, KY BOURBON 2023 $472,030 $604,400 $730,525 $907,900
    LEXINGTON-FAYETTE, KY CLARK 2023 $472,030 $604,400 $730,525 $907,900
    LEXINGTON-FAYETTE, KY FAYETTE 2023 $472,030 $604,400 $730,525 $907,900
    LEXINGTON-FAYETTE, KY JESSAMINE 2023 $472,030 $604,400 $730,525 $907,900
    LEXINGTON-FAYETTE, KY SCOTT 2023 $472,030 $604,400 $730,525 $907,900
    LEXINGTON-FAYETTE, KY WOODFORD 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lexington (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 $269,450 (6.9%) $375,455 (2.1%) 1.00 1,418
    2018-02-01 $283,600 (6.0%) $388,429 (1.3%) 1.03 1,328
    2018-03-01 $299,000 (5.1%) $407,171 (0.0%) 1.05 1,345
    2018-04-01 $309,900 (3.3%) $420,776 (-0.3%) 1.05 1,369
    2018-05-01 $314,609 (4.5%) $430,696 (3.6%) 1.05 1,505
    2018-06-01 $315,000 (5.4%) $429,781 (5.9%) 1.05 1,570
    2018-07-01 $299,950 (3.4%) $418,594 (6.4%) 1.00 1,717
    2018-08-01 $289,042 (3.3%) $403,437 (6.3%) 0.97 1,881
    2018-09-01 $288,950 (3.2%) $397,200 (4.6%) 0.97 1,908
    2018-10-01 $278,937 (-0.3%) $389,152 (2.1%) 0.94 1,955
    2018-11-01 $269,175 (-2.5%) $375,432 (0.2%) 0.91 1,892
    2018-12-01 $265,000 (-1.8%) $367,138 (-1.3%) 0.91 1,752
    2019-01-01 $267,187 (-0.8%) $366,896 (-2.3%) 0.92 1,619
    2019-02-01 $283,700 (0.0%) $380,512 (-2.0%) 0.96 1,465
    2019-03-01 $293,621 (-1.8%) $391,077 (-4.0%) 0.96 1,475
    2019-04-01 $303,973 (-1.9%) $402,543 (-4.3%) 0.97 1,512
    2019-05-01 $309,900 (-1.5%) $403,644 (-6.3%) 0.97 1,614
    2019-06-01 $309,900 (-1.6%) $398,714 (-7.2%) 0.97 1,662
    2019-07-01 $300,000 (0.0%) $392,806 (-6.2%) 0.94 1,774
    2019-08-01 $297,245 (2.8%) $398,369 (-1.3%) 0.94 1,793
    2019-09-01 $293,114 (1.4%) $409,319 (3.1%) 0.94 1,813
    2019-10-01 $290,359 (4.1%) $418,715 (7.6%) 0.94 1,803
    2019-11-01 $288,946 (7.3%) $422,514 (12.5%) 0.95 1,675
    2019-12-01 $283,450 (7.0%) $422,192 (15.0%) 0.95 1,514
    2020-01-01 $291,750 (9.2%) $434,848 (18.5%) 0.97 1,350
    2020-02-01 $309,950 (9.3%) $458,635 (20.5%) 1.01 1,270
    2020-03-01 $318,735 (8.6%) $414,554 (6.0%) 1.00 1,219
    2020-04-01 $316,553 (4.1%) $416,691 (3.5%) 0.99 1,232
    2020-05-01 $323,475 (4.4%) $436,068 (8.0%) 0.98 1,166
    2020-06-01 $324,900 (4.8%) $467,554 (17.3%) 0.96 1,100
    2020-07-01 $325,890 (8.6%) $454,149 (15.6%) 0.94 995
    2020-08-01 $329,000 (10.7%) $456,993 (14.7%) 0.94 967
    2020-09-01 $327,559 (11.8%) $456,204 (11.5%) 0.94 913
    2020-10-01 $326,767 (12.5%) $455,472 (8.8%) 0.94 896
    2020-11-01 $321,950 (11.4%) $451,463 (6.9%) 0.94 824
    2020-12-01 $319,900 (12.9%) $440,364 (4.3%) 0.95 751
    2021-01-01 $324,900 (11.4%) $453,507 (4.3%) 0.97 668
    2021-02-01 $329,780 (6.4%) $464,315 (1.2%) 0.96 574
    2021-03-01 $328,975 (3.2%) $468,324 (13.0%) 0.93 544
    2021-04-01 $331,080 (4.6%) $490,600 (17.7%) 0.90 566
    2021-05-01 $344,305 (6.4%) $518,436 (18.9%) 0.91 565
    2021-06-01 $328,000 (1.0%) $477,862 (2.2%) 0.86 610
    2021-07-01 $315,000 (-3.3%) $462,975 (1.9%) 0.83 658
    2021-08-01 $317,450 (-3.5%) $456,489 (-0.1%) 0.85 708
    2021-09-01 $314,675 (-3.9%) $457,952 (0.4%) 0.84 723
    2021-10-01 $311,900 (-4.6%) $446,520 (-2.0%) 0.83 682
    2021-11-01 $317,500 (-1.4%) $467,460 (3.5%) 0.85 606
    2021-12-01 $319,500 (-0.1%) $458,145 (4.0%) 0.87 507
    2022-01-01 $329,360 (1.4%) $490,040 (8.1%) 0.89 409
    2022-02-01 $348,095 (5.6%) $494,651 (6.5%) 0.91 396
    2022-03-01 $352,500 (7.2%) $506,204 (8.1%) 0.88 439
    2022-04-01 $375,390 (13.4%) $501,017 (2.1%) 0.89 483
    2022-05-01 $388,175 (12.7%) $504,815 (-2.6%) 0.89 568
    2022-06-01 $394,700 (20.3%) $493,676 (3.3%) 0.88 688
    2022-07-01 $399,000 (26.7%) $494,916 (6.9%) 0.90 801
    2022-08-01 $383,600 (20.8%) $490,924 (7.5%) 0.89 853
    2022-09-01 $386,950 (23.0%) $496,722 (8.5%) 0.90 846
    2022-10-01 $386,900 (24.1%) $507,050 (13.6%) 0.91 901
    2022-11-01 $374,757 (18.0%) $474,894 (1.6%) 0.90 924
    2022-12-01 $369,900 (15.8%) $461,018 (0.6%) 0.91 893
    2023-01-01 $387,100 (17.5%) $485,795 (-0.9%) 0.96 769
    2023-02-01 $397,450 (14.2%) $496,914 (0.5%) 0.96 720
    2023-03-01 $399,900 (13.5%) $504,073 (-0.4%) 0.94 710
    2023-04-01 $399,900 (6.5%) $510,750 (1.9%) 0.93 698
    2023-05-01 $409,400 (5.5%) $530,166 (5.0%) 0.93 705
    2023-06-01 $414,975 (5.1%) $536,676 (8.7%) 0.93 739
    2023-07-01 $409,900 (2.7%) $528,081 (6.7%) 0.93 788
    2023-08-01 $399,850 (4.2%) $509,960 (3.9%) 0.92 849
    2023-09-01 $397,173 (2.6%) $507,596 (2.2%) 0.92 894
    2023-10-01 $397,561 (2.8%) $509,706 (0.5%) 0.94 956
    2023-11-01 $393,046 (4.9%) $510,535 (7.5%) 0.94 989
    2023-12-01 $390,717 (5.6%) $501,915 (8.9%) 0.95 886
    2024-01-01 $395,000 (2.0%) $510,918 (5.2%) 0.96 780
    2024-02-01 $399,425 (0.5%) $519,278 (4.5%) 0.96 737
    2024-03-01 $399,900 (0.0%) $533,785 (5.9%) 0.94 717
    2024-04-01 $399,900 (0.0%) $547,674 (7.2%) 0.93 759
    2024-05-01 $399,475 (-2.4%) $555,468 (4.8%) 0.91 770
    2024-06-01 $399,900 (-3.6%) $542,050 (1.0%) 0.91 876
    2024-07-01 $399,900 (-2.4%) $538,365 (2.0%) 0.91 967
    2024-08-01 $395,000 (-1.2%) $545,010 (6.9%) 0.92 996
    2024-09-01 $398,685 (0.4%) $552,623 (8.9%) 0.94 1,041
    2024-10-01 $396,305 (-0.3%) $549,112 (7.7%) 0.93 1,046
    2024-11-01 $399,000 (1.5%) $546,402 (7.0%) 0.96 1,158
    2024-12-01 $399,950 (2.4%) $535,048 (6.6%) 0.99 1,012
    2025-01-01 $398,720 (0.9%) $538,505 (5.4%) 1.00 910
    2025-02-01 $398,786 (-0.2%) $548,785 (5.7%) 0.97 873
    2025-03-01 $399,900 (0.0%) $557,339 (4.4%) 0.00 883
    Lexington's median listing price for 2025-03-01 was $399,900, a difference of $0 (0.0%) versus the prior year and $1,114 versus the prior month.

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

    Lexington's average listing price for 2025-03-01 was $557,339, a difference of $23,554 (4.4%) versus the prior year and $8,554 versus the prior month.

    For the 2025-03-01 period, Lexington had 883 MLS listings, a difference of 10 listings (1%) versus the prior month and 166 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lexington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 86 days 2,278 sqft
    2018-02-01 82 days 2,334 sqft
    2018-03-01 57 days 2,376 sqft
    2018-04-01 52 days 2,440 sqft
    2018-05-01 45 days 2,471 sqft
    2018-06-01 46 days 2,474 sqft
    2018-07-01 52 days 2,414 sqft
    2018-08-01 52 days 2,376 sqft
    2018-09-01 56 days 2,366 sqft
    2018-10-01 61 days 2,309 sqft
    2018-11-01 67 days 2,258 sqft
    2018-12-01 75 days 2,180 sqft
    2019-01-01 80 days 2,193 sqft
    2019-02-01 79 days 2,286 sqft
    2019-03-01 66 days 2,320 sqft
    2019-04-01 52 days 2,368 sqft
    2019-05-01 51 days 2,362 sqft
    2019-06-01 51 days 2,377 sqft
    2019-07-01 56 days 2,366 sqft
    2019-08-01 56 days 2,353 sqft
    2019-09-01 59 days 2,305 sqft
    2019-10-01 62 days 2,277 sqft
    2019-11-01 66 days 2,238 sqft
    2019-12-01 77 days 2,187 sqft
    2020-01-01 88 days 2,206 sqft
    2020-02-01 85 days 2,300 sqft
    2020-03-01 65 days 2,308 sqft
    2020-04-01 66 days 2,327 sqft
    2020-05-01 64 days 2,381 sqft
    2020-06-01 58 days 2,381 sqft
    2020-07-01 57 days 2,366 sqft
    2020-08-01 60 days 2,365 sqft
    2020-09-01 72 days 2,346 sqft
    2020-10-01 73 days 2,316 sqft
    2020-11-01 78 days 2,233 sqft
    2020-12-01 72 days 2,104 sqft
    2021-01-01 70 days 2,163 sqft
    2021-02-01 72 days 2,134 sqft
    2021-03-01 54 days 2,149 sqft
    2021-04-01 43 days 2,165 sqft
    2021-05-01 38 days 2,180 sqft
    2021-06-01 43 days 2,089 sqft
    2021-07-01 39 days 2,000 sqft
    2021-08-01 40 days 2,036 sqft
    2021-09-01 44 days 2,005 sqft
    2021-10-01 46 days 1,979 sqft
    2021-11-01 52 days 1,995 sqft
    2021-12-01 59 days 1,980 sqft
    2022-01-01 64 days 2,010 sqft
    2022-02-01 53 days 2,034 sqft
    2022-03-01 41 days 2,085 sqft
    2022-04-01 36 days 2,101 sqft
    2022-05-01 39 days 2,153 sqft
    2022-06-01 37 days 2,200 sqft
    2022-07-01 37 days 2,214 sqft
    2022-08-01 40 days 2,218 sqft
    2022-09-01 46 days 2,228 sqft
    2022-10-01 52 days 2,248 sqft
    2022-11-01 57 days 2,199 sqft
    2022-12-01 68 days 2,168 sqft
    2023-01-01 77 days 2,203 sqft
    2023-02-01 77 days 2,257 sqft
    2023-03-01 61 days 2,276 sqft
    2023-04-01 52 days 2,290 sqft
    2023-05-01 51 days 2,301 sqft
    2023-06-01 50 days 2,287 sqft
    2023-07-01 47 days 2,268 sqft
    2023-08-01 46 days 2,224 sqft
    2023-09-01 45 days 2,200 sqft
    2023-10-01 50 days 2,170 sqft
    2023-11-01 56 days 2,132 sqft
    2023-12-01 67 days 2,115 sqft
    2024-01-01 79 days 2,115 sqft
    2024-02-01 73 days 2,132 sqft
    2024-03-01 54 days 2,149 sqft
    2024-04-01 45 days 2,152 sqft
    2024-05-01 39 days 2,169 sqft
    2024-06-01 45 days 2,171 sqft
    2024-07-01 43 days 2,148 sqft
    2024-08-01 49 days 2,133 sqft
    2024-09-01 48 days 2,146 sqft
    2024-10-01 48 days 2,138 sqft
    2024-11-01 51 days 2,134 sqft
    2024-12-01 61 days 2,136 sqft
    2025-01-01 73 days 2,129 sqft
    2025-02-01 76 days 2,120 sqft
    2025-03-01 0 days 2,076 sqft
    Lexington's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Lexington's median square footage for active listings during the 2025-03-01 period was 2,076 sqft. One year prior, the average listing was 2,149 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).