Louisville FHA Loan Rates, Closing Costs & Stats
LOUISVILLE, 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.
Louisville's 156 lenders originated 3,839 FHA loans during 2023. The total origination value was $865,145,000, with an average FHA loan value of $225,357.
Louisville FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Louisville
averaged
5.69%
for the week of 2024-10-04, compared to the national average (all FHA variants) of
5.885% for the same period.
Louisville's average FHA mortgage closing costs are $6,542.
The average rate for the prior week (2024-09-27) was
5.99% and
one month ago for the week of 2024-08-30, the
average rate was 6.14%.
The average rate one year ago was 6.98%.
For refis of the same type during the week of 2024-10-04, the average rate
was 6.24%.
Louisville 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 Louisville level.
The top Louisville FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
454 FHA loans originated. Their average total fees are
$9,478, which is $114
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Louisville FHA lenders (with over 10 loans originated) are
Fifth Third Bank ($4,953), MID AMERICA MORTGAGE, INC. ($5,324), PNC Bank ($5,758), JPMorgan Chase Bank ($6,141) and Mortgage Research Center, LLC ($6,242).
The lowest rate Louisville FHA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.35%), INSPIRE HOME LOANS INC. (5.57%), VICTORY MORTGAGE, L.L.C. (5.76%), VANDERBILT MORTGAGE AND FINANCE, INC. (5.81%) and PULTE MORTGAGE LLC (5.87%).
Louisville FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
LOUISVILLE/JEFFERSON COUNTY, KY-IN | CLARK | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | FLOYD | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | HARRISON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | WASHINGTON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | BULLITT | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | HENRY | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | JEFFERSON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | OLDHAM | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | SHELBY | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | SPENCER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | CLARK | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | FLOYD | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | HARRISON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | WASHINGTON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | BULLITT | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | HENRY | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | JEFFERSON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | OLDHAM | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | SHELBY | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
LOUISVILLE/JEFFERSON COUNTY, KY-IN | SPENCER | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Louisville (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 | $238,950 (24.2%) | $313,727 (12.6%) | 0.89 | 3,141 |
2018-02-01 | $249,450 (17.9%) | $324,292 (9.2%) | 0.91 | 2,937 |
2018-03-01 | $259,900 (17.7%) | $330,832 (7.6%) | 0.91 | 2,942 |
2018-04-01 | $262,000 (11.5%) | $331,340 (4.7%) | 0.89 | 3,033 |
2018-05-01 | $269,900 (8.8%) | $343,740 (4.6%) | 0.90 | 3,230 |
2018-06-01 | $271,536 (10.4%) | $346,865 (6.3%) | 0.91 | 3,444 |
2018-07-01 | $270,850 (12.9%) | $346,139 (7.2%) | 0.90 | 3,551 |
2018-08-01 | $269,900 (9.2%) | $346,992 (6.1%) | 0.90 | 3,668 |
2018-09-01 | $269,600 (12.4%) | $346,139 (7.5%) | 0.91 | 3,842 |
2018-10-01 | $261,050 (11.0%) | $338,921 (7.6%) | 0.88 | 4,025 |
2018-11-01 | $258,000 (10.5%) | $339,934 (9.2%) | 0.87 | 3,984 |
2018-12-01 | $249,995 (8.7%) | $327,088 (6.5%) | 0.86 | 3,760 |
2019-01-01 | $250,000 (4.6%) | $323,752 (3.2%) | 0.86 | 3,447 |
2019-02-01 | $262,675 (5.3%) | $335,522 (3.5%) | 0.89 | 3,129 |
2019-03-01 | $277,614 (6.8%) | $349,902 (5.8%) | 0.91 | 3,056 |
2019-04-01 | $286,950 (9.5%) | $365,953 (10.5%) | 0.91 | 3,237 |
2019-05-01 | $289,900 (7.4%) | $374,994 (9.1%) | 0.91 | 3,412 |
2019-06-01 | $286,950 (5.7%) | $372,491 (7.4%) | 0.90 | 3,553 |
2019-07-01 | $278,824 (2.9%) | $359,435 (3.8%) | 0.87 | 3,790 |
2019-08-01 | $271,185 (0.5%) | $351,383 (1.3%) | 0.86 | 3,893 |
2019-09-01 | $264,457 (-1.9%) | $340,985 (-1.5%) | 0.85 | 3,925 |
2019-10-01 | $254,612 (-2.5%) | $330,626 (-2.5%) | 0.82 | 3,955 |
2019-11-01 | $247,450 (-4.1%) | $322,572 (-5.1%) | 0.81 | 3,809 |
2019-12-01 | $239,950 (-4.0%) | $317,962 (-2.8%) | 0.80 | 3,398 |
2020-01-01 | $240,950 (-3.6%) | $320,086 (-1.1%) | 0.81 | 3,097 |
2020-02-01 | $256,500 (-2.4%) | $331,162 (-1.3%) | 0.84 | 2,809 |
2020-03-01 | $274,950 (-1.0%) | $351,152 (0.4%) | 0.86 | 2,644 |
2020-04-01 | $279,250 (-2.7%) | $354,342 (-3.2%) | 0.87 | 2,692 |
2020-05-01 | $295,000 (1.8%) | $370,692 (-1.2%) | 0.90 | 2,495 |
2020-06-01 | $291,450 (1.6%) | $380,509 (2.2%) | 0.86 | 2,212 |
2020-07-01 | $293,448 (5.2%) | $384,554 (7.0%) | 0.85 | 2,059 |
2020-08-01 | $288,500 (6.4%) | $377,652 (7.5%) | 0.83 | 1,968 |
2020-09-01 | $272,400 (3.0%) | $369,410 (8.3%) | 0.78 | 2,029 |
2020-10-01 | $260,000 (2.1%) | $367,305 (11.1%) | 0.75 | 2,012 |
2020-11-01 | $249,900 (1.0%) | $360,722 (11.8%) | 0.73 | 2,019 |
2020-12-01 | $246,450 (2.7%) | $351,892 (10.7%) | 0.73 | 1,893 |
2021-01-01 | $249,900 (3.7%) | $355,456 (11.1%) | 0.75 | 1,590 |
2021-02-01 | $261,900 (2.1%) | $369,593 (11.6%) | 0.76 | 1,256 |
2021-03-01 | $267,900 (-2.6%) | $377,733 (7.6%) | 0.76 | 1,221 |
2021-04-01 | $272,425 (-2.4%) | $385,390 (8.8%) | 0.74 | 1,269 |
2021-05-01 | $276,908 (-6.1%) | $388,872 (4.9%) | 0.74 | 1,250 |
2021-06-01 | $282,450 (-3.1%) | $393,877 (3.5%) | 0.74 | 1,408 |
2021-07-01 | $275,000 (-6.3%) | $375,687 (-2.3%) | 0.73 | 1,670 |
2021-08-01 | $269,900 (-6.5%) | $370,666 (-1.9%) | 0.72 | 1,851 |
2021-09-01 | $259,900 (-4.6%) | $359,828 (-2.6%) | 0.69 | 1,900 |
2021-10-01 | $259,450 (-0.2%) | $353,977 (-3.6%) | 0.69 | 1,948 |
2021-11-01 | $249,900 (0.0%) | $348,861 (-3.3%) | 0.67 | 1,884 |
2021-12-01 | $255,950 (3.9%) | $354,101 (0.6%) | 0.69 | 1,636 |
2022-01-01 | $260,152 (4.1%) | $354,214 (-0.4%) | 0.70 | 1,407 |
2022-02-01 | $280,537 (7.1%) | $371,998 (0.7%) | 0.73 | 1,137 |
2022-03-01 | $289,950 (8.2%) | $380,930 (0.9%) | 0.73 | 1,143 |
2022-04-01 | $293,460 (7.7%) | $384,142 (-0.3%) | 0.70 | 1,178 |
2022-05-01 | $297,804 (7.6%) | $384,968 (-1.0%) | 0.68 | 1,473 |
2022-06-01 | $299,900 (6.2%) | $388,867 (-1.3%) | 0.67 | 1,713 |
2022-07-01 | $299,999 (9.1%) | $377,891 (0.6%) | 0.68 | 2,008 |
2022-08-01 | $299,900 (11.1%) | $373,345 (0.7%) | 0.69 | 2,124 |
2022-09-01 | $299,950 (15.4%) | $371,675 (3.3%) | 0.70 | 2,115 |
2022-10-01 | $299,900 (15.6%) | $365,777 (3.3%) | 0.71 | 2,251 |
2022-11-01 | $290,000 (16.1%) | $356,796 (2.3%) | 0.70 | 2,360 |
2022-12-01 | $295,000 (15.3%) | $358,402 (1.2%) | 0.73 | 2,169 |
2023-01-01 | $299,000 (14.9%) | $362,330 (2.3%) | 0.74 | 1,917 |
2023-02-01 | $300,000 (6.9%) | $375,196 (0.9%) | 0.72 | 1,657 |
2023-03-01 | $307,975 (6.2%) | $377,077 (-1.0%) | 0.73 | 1,560 |
2023-04-01 | $320,000 (9.0%) | $395,982 (3.1%) | 0.74 | 1,471 |
2023-05-01 | $323,913 (8.8%) | $403,574 (4.8%) | 0.73 | 1,514 |
2023-06-01 | $324,950 (8.4%) | $403,739 (3.8%) | 0.73 | 1,642 |
2023-07-01 | $324,900 (8.3%) | $397,959 (5.3%) | 0.74 | 1,745 |
2023-08-01 | $322,500 (7.5%) | $394,753 (5.7%) | 0.74 | 1,837 |
2023-09-01 | $316,358 (5.5%) | $392,937 (5.7%) | 0.74 | 1,986 |
2023-10-01 | $305,450 (1.9%) | $379,716 (3.8%) | 0.72 | 2,275 |
2023-11-01 | $299,997 (3.5%) | $375,585 (5.3%) | 0.71 | 2,403 |
2023-12-01 | $299,900 (1.7%) | $373,428 (4.2%) | 0.73 | 2,271 |
2024-01-01 | $308,475 (3.2%) | $379,817 (4.8%) | 0.75 | 2,059 |
2024-02-01 | $312,389 (4.1%) | $380,895 (1.5%) | 0.75 | 1,861 |
2024-03-01 | $315,000 (2.3%) | $394,375 (4.6%) | 0.74 | 1,785 |
2024-04-01 | $327,450 (2.3%) | $410,096 (3.6%) | 0.76 | 1,837 |
2024-05-01 | $339,950 (5.0%) | $427,530 (5.9%) | 0.77 | 2,015 |
2024-06-01 | $342,318 (5.3%) | $427,531 (5.9%) | 0.77 | 2,113 |
2024-07-01 | $327,500 (0.8%) | $421,936 (6.0%) | 0.75 | 2,325 |
2024-08-01 | $324,195 (0.5%) | $417,578 (5.8%) | 0.75 | 2,441 |
2024-09-01 | $318,250 (0.6%) | $410,253 (4.4%) | 0.00 | 2,609 |
Louisville's median listing price comes in at 0% of the national average.
Louisville's average listing price for 2024-09-01 was $410,253, a difference of $17,316 (4.4%) versus the prior year and $-7,325 versus the prior month.
For the 2024-09-01 period, Louisville had 2,609 MLS listings, a difference of 168 listings (7%) versus the prior month and 623 listings (31%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Louisville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 73 days | 1,985 sqft |
2018-02-01 | 64 days | 2,002 sqft |
2018-03-01 | 45 days | 2,051 sqft |
2018-04-01 | 43 days | 2,087 sqft |
2018-05-01 | 39 days | 2,129 sqft |
2018-06-01 | 39 days | 2,166 sqft |
2018-07-01 | 43 days | 2,139 sqft |
2018-08-01 | 43 days | 2,137 sqft |
2018-09-01 | 45 days | 2,126 sqft |
2018-10-01 | 48 days | 2,100 sqft |
2018-11-01 | 52 days | 2,079 sqft |
2018-12-01 | 60 days | 2,050 sqft |
2019-01-01 | 67 days | 2,042 sqft |
2019-02-01 | 63 days | 2,059 sqft |
2019-03-01 | 52 days | 2,119 sqft |
2019-04-01 | 44 days | 2,180 sqft |
2019-05-01 | 43 days | 2,245 sqft |
2019-06-01 | 44 days | 2,200 sqft |
2019-07-01 | 44 days | 2,149 sqft |
2019-08-01 | 44 days | 2,097 sqft |
2019-09-01 | 45 days | 2,042 sqft |
2019-10-01 | 46 days | 1,998 sqft |
2019-11-01 | 51 days | 1,959 sqft |
2019-12-01 | 63 days | 1,871 sqft |
2020-01-01 | 69 days | 1,879 sqft |
2020-02-01 | 59 days | 1,909 sqft |
2020-03-01 | 47 days | 1,975 sqft |
2020-04-01 | 49 days | 1,987 sqft |
2020-05-01 | 52 days | 2,002 sqft |
2020-06-01 | 41 days | 2,010 sqft |
2020-07-01 | 38 days | 1,988 sqft |
2020-08-01 | 35 days | 1,978 sqft |
2020-09-01 | 32 days | 1,897 sqft |
2020-10-01 | 31 days | 1,891 sqft |
2020-11-01 | 34 days | 1,810 sqft |
2020-12-01 | 39 days | 1,756 sqft |
2021-01-01 | 46 days | 1,750 sqft |
2021-02-01 | 37 days | 1,754 sqft |
2021-03-01 | 27 days | 1,789 sqft |
2021-04-01 | 23 days | 1,764 sqft |
2021-05-01 | 22 days | 1,776 sqft |
2021-06-01 | 19 days | 1,825 sqft |
2021-07-01 | 22 days | 1,800 sqft |
2021-08-01 | 24 days | 1,801 sqft |
2021-09-01 | 29 days | 1,775 sqft |
2021-10-01 | 30 days | 1,750 sqft |
2021-11-01 | 32 days | 1,683 sqft |
2021-12-01 | 41 days | 1,667 sqft |
2022-01-01 | 45 days | 1,640 sqft |
2022-02-01 | 34 days | 1,674 sqft |
2022-03-01 | 23 days | 1,681 sqft |
2022-04-01 | 21 days | 1,704 sqft |
2022-05-01 | 20 days | 1,781 sqft |
2022-06-01 | 22 days | 1,825 sqft |
2022-07-01 | 24 days | 1,830 sqft |
2022-08-01 | 31 days | 1,825 sqft |
2022-09-01 | 36 days | 1,829 sqft |
2022-10-01 | 36 days | 1,846 sqft |
2022-11-01 | 41 days | 1,823 sqft |
2022-12-01 | 50 days | 1,821 sqft |
2023-01-01 | 54 days | 1,800 sqft |
2023-02-01 | 44 days | 1,801 sqft |
2023-03-01 | 36 days | 1,806 sqft |
2023-04-01 | 36 days | 1,918 sqft |
2023-05-01 | 31 days | 1,890 sqft |
2023-06-01 | 29 days | 1,867 sqft |
2023-07-01 | 31 days | 1,900 sqft |
2023-08-01 | 32 days | 1,928 sqft |
2023-09-01 | 32 days | 1,880 sqft |
2023-10-01 | 32 days | 1,863 sqft |
2023-11-01 | 37 days | 1,820 sqft |
2023-12-01 | 48 days | 1,800 sqft |
2024-01-01 | 53 days | 1,814 sqft |
2024-02-01 | 45 days | 1,820 sqft |
2024-03-01 | 40 days | 1,822 sqft |
2024-04-01 | 38 days | 1,891 sqft |
2024-05-01 | 31 days | 1,901 sqft |
2024-06-01 | 32 days | 1,928 sqft |
2024-07-01 | 37 days | 1,894 sqft |
2024-08-01 | 38 days | 1,880 sqft |
2024-09-01 | 0 days | 1,871 sqft |
Louisville's median square footage for active listings during the 2024-09-01 period was 1,871 sqft. One year prior, the average listing was 1,880 sqft.