Louisville/jefferson County FHA Loans
LOUISVILLE/JEFFERSON COUNTY, KY-IN
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/jefferson County's 179 lenders originated 7,276 FHA loans during 2021. The total origination value was $1,344,560,000, with an average FHA loan value of $184,794.
Louisville/jefferson County FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Louisville/jefferson County
averaged
5.09%
for the week of 2022-05-20, compared to the national average (all FHA variants) of
5.352% for the same period.
The average rate for the prior week (2022-05-13) was
5.4% and
one month ago for the week of 2022-04-15, the
average rate was 5.19%.
The average rate one year ago was 3.26%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.21%.
Louisville/jefferson County FHA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Louisville/jefferson County level.
The top Louisville/jefferson County FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
677 FHA loans originated. Their average total fees are
$5,857, which is $1,045
higher than the next largest lender,
FREEDOM MORTGAGE CORPORATION.
The lowest fee Louisville/jefferson County FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC ($2,423), NEWREZ LLC ($3,730), JPMorgan Chase Bank ($3,802), Mr. Cooper ( Nationstar Mortgage ) ($3,912) and AmeriHome Mortgage Company, LLC ($4,227).
The lowest rate Louisville/jefferson County FHA lenders (with over 10 loans originated) are
First Harrison Bank (2.67%), QUICKEN LOANS, LLC (2.71%), VICTORY MORTGAGE, L.L.C. (2.72%), HOMEBRIDGE FINANCIAL SERVICES, INC. (2.74%) and PNC Bank (2.74%).
Louisville/jefferson County 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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Louisville/jefferson County (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 | $234,950 (22.4%) | $310,191 (12.0%) | 0.87 | 3,368 |
| 2018-02-01 | $243,208 (17.5%) | $319,541 (9.0%) | 0.88 | 3,153 |
| 2018-03-01 | $255,000 (16.0%) | $325,931 (7.0%) | 0.88 | 3,139 |
| 2018-04-01 | $258,950 (12.6%) | $325,345 (3.7%) | 0.87 | 3,254 |
| 2018-05-01 | $267,721 (10.4%) | $339,136 (4.1%) | 0.89 | 3,450 |
| 2018-06-01 | $269,500 (12.3%) | $340,805 (5.5%) | 0.90 | 3,695 |
| 2018-07-01 | $265,400 (10.6%) | $340,158 (6.4%) | 0.89 | 3,839 |
| 2018-08-01 | $264,950 (10.4%) | $341,196 (6.0%) | 0.89 | 3,929 |
| 2018-09-01 | $265,000 (10.5%) | $342,332 (8.0%) | 0.89 | 4,106 |
| 2018-10-01 | $259,900 (11.3%) | $336,389 (8.4%) | 0.87 | 4,295 |
| 2018-11-01 | $255,000 (10.9%) | $345,967 (12.7%) | 0.86 | 4,260 |
| 2018-12-01 | $249,900 (9.1%) | $325,612 (7.2%) | 0.86 | 4,001 |
| 2019-01-01 | $249,900 (6.4%) | $323,237 (4.2%) | 0.86 | 3,652 |
| 2019-02-01 | $261,900 (7.7%) | $336,051 (5.2%) | 0.88 | 3,328 |
| 2019-03-01 | $273,529 (7.3%) | $348,537 (6.9%) | 0.89 | 3,240 |
| 2019-04-01 | $284,950 (10.0%) | $364,993 (12.2%) | 0.90 | 3,414 |
| 2019-05-01 | $289,900 (8.3%) | $375,078 (10.6%) | 0.89 | 3,619 |
| 2019-06-01 | $285,000 (5.8%) | $371,943 (9.1%) | 0.88 | 3,775 |
| 2019-07-01 | $277,200 (4.5%) | $358,264 (5.3%) | 0.86 | 4,043 |
| 2019-08-01 | $268,471 (1.3%) | $348,039 (2.0%) | 0.84 | 4,055 |
| 2019-09-01 | $259,900 (-1.9%) | $335,045 (-2.1%) | 0.83 | 3,994 |
| 2019-10-01 | $252,450 (-2.9%) | $326,257 (-3.0%) | 0.81 | 4,204 |
| 2019-11-01 | $244,900 (-4.0%) | $318,002 (-8.1%) | 0.79 | 4,041 |
| 2019-12-01 | $237,450 (-5.0%) | $314,597 (-3.4%) | 0.79 | 3,644 |
| 2020-01-01 | $239,900 (-4.0%) | $315,880 (-2.3%) | 0.80 | 3,311 |
| 2020-02-01 | $254,900 (-2.7%) | $328,105 (-2.4%) | 0.82 | 2,963 |
| 2020-03-01 | $272,450 (-0.4%) | $347,288 (-0.4%) | 0.85 | 2,803 |
| 2020-04-01 | $275,000 (-3.5%) | $349,486 (-4.3%) | 0.86 | 2,852 |
| 2020-05-01 | $289,700 (-0.1%) | $365,989 (-2.4%) | 0.88 | 2,642 |
| 2020-06-01 | $289,900 (1.7%) | $379,421 (2.0%) | 0.85 | 2,298 |
| 2020-07-01 | $289,900 (4.6%) | $382,448 (6.8%) | 0.83 | 2,135 |
| 2020-08-01 | $284,900 (6.1%) | $376,121 (8.1%) | 0.81 | 2,060 |
| 2020-09-01 | $267,450 (2.9%) | $366,925 (9.5%) | 0.76 | 2,115 |
| 2020-10-01 | $258,000 (2.2%) | $366,128 (12.2%) | 0.74 | 2,094 |
| 2020-11-01 | $244,900 (0.0%) | $357,546 (12.4%) | 0.70 | 2,124 |
| 2020-12-01 | $239,900 (1.0%) | $348,831 (10.9%) | 0.70 | 1,992 |
| 2021-01-01 | $249,000 (3.8%) | $350,807 (11.1%) | 0.73 | 1,663 |
| 2021-02-01 | $259,900 (2.0%) | $368,075 (12.2%) | 0.75 | 1,308 |
| 2021-03-01 | $264,450 (-2.9%) | $375,579 (8.2%) | 0.74 | 1,254 |
| 2021-04-01 | $266,350 (-3.2%) | $381,756 (9.2%) | 0.72 | 1,309 |
| 2021-05-01 | $274,900 (-5.1%) | $382,080 (4.4%) | 0.72 | 1,282 |
| 2021-06-01 | $277,450 (-4.3%) | $389,815 (2.7%) | 0.72 | 1,454 |
| 2021-07-01 | $269,950 (-6.9%) | $375,395 (-1.8%) | 0.70 | 1,710 |
| 2021-08-01 | $264,950 (-7.0%) | $365,106 (-2.9%) | 0.70 | 1,932 |
| 2021-09-01 | $250,000 (-6.5%) | $356,130 (-2.9%) | 0.66 | 1,984 |
| 2021-10-01 | $250,000 (-3.1%) | $349,568 (-4.5%) | 0.66 | 2,015 |
| 2021-11-01 | $249,450 (1.9%) | $348,391 (-2.6%) | 0.66 | 1,976 |
| 2021-12-01 | $252,500 (5.3%) | $353,713 (1.4%) | 0.67 | 1,721 |
| 2022-01-01 | $259,000 (4.0%) | $352,620 (0.5%) | 0.69 | 1,479 |
| 2022-02-01 | $279,900 (7.7%) | $372,613 (1.2%) | 0.71 | 1,207 |
| 2022-03-01 | $289,950 (9.6%) | $384,170 (2.3%) | 0.72 | 1,177 |
| 2022-04-01 | $289,900 (8.8%) | $383,805 (0.5%) | 0.68 | 1,227 |
Louisville/jefferson County's median listing price comes in at 68% of the national average.
Louisville/jefferson County's average listing price for 2022-04-01 was $383,805, a difference of $2,049 (0.5%) versus the prior year and $-365 versus the prior month.
For the 2022-04-01 period, Louisville/jefferson County had 1,227 MLS listings, a difference of 50 listings (4%) versus the prior month and -82 listings (-6%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Louisville/jefferson County (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 76 days | 1,969 sqft |
| 2018-02-01 | 69 days | 1,988 sqft |
| 2018-03-01 | 47 days | 2,039 sqft |
| 2018-04-01 | 45 days | 2,061 sqft |
| 2018-05-01 | 40 days | 2,112 sqft |
| 2018-06-01 | 40 days | 2,147 sqft |
| 2018-07-01 | 44 days | 2,118 sqft |
| 2018-08-01 | 44 days | 2,121 sqft |
| 2018-09-01 | 47 days | 2,109 sqft |
| 2018-10-01 | 50 days | 2,093 sqft |
| 2018-11-01 | 54 days | 2,072 sqft |
| 2018-12-01 | 64 days | 2,045 sqft |
| 2019-01-01 | 69 days | 2,024 sqft |
| 2019-02-01 | 66 days | 2,054 sqft |
| 2019-03-01 | 55 days | 2,105 sqft |
| 2019-04-01 | 46 days | 2,165 sqft |
| 2019-05-01 | 46 days | 2,239 sqft |
| 2019-06-01 | 46 days | 2,200 sqft |
| 2019-07-01 | 44 days | 2,128 sqft |
| 2019-08-01 | 46 days | 2,085 sqft |
| 2019-09-01 | 46 days | 2,043 sqft |
| 2019-10-01 | 48 days | 1,983 sqft |
| 2019-11-01 | 52 days | 1,932 sqft |
| 2019-12-01 | 65 days | 1,846 sqft |
| 2020-01-01 | 72 days | 1,853 sqft |
| 2020-02-01 | 64 days | 1,900 sqft |
| 2020-03-01 | 51 days | 1,962 sqft |
| 2020-04-01 | 51 days | 1,966 sqft |
| 2020-05-01 | 57 days | 1,988 sqft |
| 2020-06-01 | 46 days | 2,006 sqft |
| 2020-07-01 | 43 days | 1,989 sqft |
| 2020-08-01 | 38 days | 1,960 sqft |
| 2020-09-01 | 35 days | 1,883 sqft |
| 2020-10-01 | 35 days | 1,870 sqft |
| 2020-11-01 | 37 days | 1,787 sqft |
| 2020-12-01 | 42 days | 1,735 sqft |
| 2021-01-01 | 49 days | 1,731 sqft |
| 2021-02-01 | 42 days | 1,750 sqft |
| 2021-03-01 | 34 days | 1,778 sqft |
| 2021-04-01 | 28 days | 1,744 sqft |
| 2021-05-01 | 25 days | 1,773 sqft |
| 2021-06-01 | 23 days | 1,812 sqft |
| 2021-07-01 | 23 days | 1,792 sqft |
| 2021-08-01 | 26 days | 1,789 sqft |
| 2021-09-01 | 30 days | 1,763 sqft |
| 2021-10-01 | 31 days | 1,739 sqft |
| 2021-11-01 | 34 days | 1,671 sqft |
| 2021-12-01 | 41 days | 1,657 sqft |
| 2022-01-01 | 49 days | 1,640 sqft |
| 2022-02-01 | 40 days | 1,664 sqft |
| 2022-03-01 | 30 days | 1,672 sqft |
| 2022-04-01 | 24 days | 1,683 sqft |
Louisville/jefferson County's median square footage for active listings during the 2022-04-01 period was 1,683 sqft. One year prior, the average listing was 1,744 sqft.
