Mayfield FHA Loan Rates, Closing Costs & Stats
Mayfield, 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.
Mayfield's 26 lenders originated 81 FHA loans during 2023. The total origination value was $14,005,000, with an average FHA loan value of $172,901.
Mayfield FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Mayfield
averaged
0.11%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Mayfield's average FHA mortgage closing costs are $5,898.
The average rate for the prior week (2024-11-22) was
6.6% and
one month ago for the week of 2024-10-25, the
average rate was 6.28%.
The average rate one year ago was 7.07%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0%.
Mayfield 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 Mayfield level.
The top Mayfield FHA lender as defined by loan originations is STOCKTON MORTGAGE CORPORATION, with
11 FHA loans originated. Their average total fees are
$7,620, which is $485
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Mayfield FHA lenders (with over 10 loans originated) are
STOCKTON MORTGAGE CORPORATION ($7,620), .
The lowest rate Mayfield FHA lenders (with over 10 loans originated) are
STOCKTON MORTGAGE CORPORATION (6.47%), .
Mayfield FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
MAYFIELD, KY | GRAVES | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
MAYFIELD, KY | GRAVES | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Mayfield (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 | $126,250 (1.1%) | $152,169 (6.1%) | 0.00 | 125 |
2018-02-01 | $124,100 (-3.6%) | $150,686 (-0.7%) | 0.00 | 117 |
2018-03-01 | $134,450 (-1.8%) | $162,991 (5.1%) | 0.00 | 119 |
2018-04-01 | $137,188 (-1.7%) | $157,806 (0.1%) | 0.00 | 140 |
2018-05-01 | $135,000 (-3.5%) | $159,738 (-1.1%) | 0.00 | 144 |
2018-06-01 | $145,000 (2.2%) | $164,083 (1.5%) | 0.00 | 153 |
2018-07-01 | $146,125 (6.0%) | $168,420 (7.3%) | 0.00 | 156 |
2018-08-01 | $132,900 (2.3%) | $168,994 (9.5%) | 0.00 | 153 |
2018-09-01 | $124,900 (9.1%) | $164,355 (8.2%) | 0.00 | 147 |
2018-10-01 | $123,150 (3.4%) | $164,524 (8.7%) | 0.00 | 132 |
2018-11-01 | $119,200 (-5.0%) | $158,550 (3.8%) | 0.00 | 133 |
2018-12-01 | $121,400 (1.6%) | $158,215 (6.4%) | 0.00 | 125 |
2019-01-01 | $119,900 (-5.0%) | $156,514 (2.9%) | 0.00 | 106 |
2019-02-01 | $122,225 (-1.5%) | $150,268 (-0.3%) | 0.00 | 111 |
2019-03-01 | $133,929 (-0.4%) | $162,740 (-0.2%) | 0.00 | 102 |
2019-04-01 | $139,900 (2.0%) | $173,741 (10.1%) | 0.00 | 96 |
2019-05-01 | $136,175 (0.9%) | $179,880 (12.6%) | 0.00 | 113 |
2019-06-01 | $135,000 (-6.9%) | $187,344 (14.2%) | 0.00 | 120 |
2019-07-01 | $134,925 (-7.7%) | $190,859 (13.3%) | 0.00 | 110 |
2019-08-01 | $138,886 (4.5%) | $187,120 (10.7%) | 0.00 | 111 |
2019-09-01 | $144,716 (15.9%) | $179,898 (9.5%) | 0.00 | 113 |
2019-10-01 | $148,227 (20.4%) | $172,465 (4.8%) | 0.00 | 115 |
2019-11-01 | $140,200 (17.6%) | $166,794 (5.2%) | 0.00 | 112 |
2019-12-01 | $146,700 (20.8%) | $171,667 (8.5%) | 0.00 | 100 |
2020-01-01 | $148,625 (24.0%) | $172,734 (10.4%) | 0.00 | 90 |
2020-02-01 | $139,900 (14.5%) | $177,708 (18.3%) | 0.00 | 64 |
2020-03-01 | $139,000 (3.8%) | $183,423 (12.7%) | 0.00 | 63 |
2020-04-01 | $143,375 (2.5%) | $186,396 (7.3%) | 0.00 | 58 |
2020-05-01 | $159,200 (16.9%) | $196,904 (9.5%) | 0.00 | 50 |
2020-06-01 | $162,225 (20.2%) | $209,318 (11.7%) | 0.00 | 46 |
2020-07-01 | $136,150 (0.9%) | $200,551 (5.1%) | 0.00 | 42 |
2020-08-01 | $143,700 (3.5%) | $195,120 (4.3%) | 0.00 | 42 |
2020-09-01 | $162,400 (12.2%) | $192,297 (6.9%) | 0.00 | 41 |
2020-10-01 | $160,000 (7.9%) | $204,158 (18.4%) | 0.00 | 39 |
2020-11-01 | $145,925 (4.1%) | $196,635 (17.9%) | 0.00 | 34 |
2020-12-01 | $134,900 (-8.0%) | $174,572 (1.7%) | 0.00 | 32 |
2021-01-01 | $139,900 (-5.9%) | $186,046 (7.7%) | 0.00 | 31 |
2021-02-01 | $160,750 (14.9%) | $194,018 (9.2%) | 0.00 | 30 |
2021-03-01 | $175,725 (26.4%) | $207,792 (13.3%) | 0.00 | 20 |
2021-04-01 | $149,400 (4.2%) | $181,868 (-2.4%) | 0.00 | 27 |
2021-05-01 | $144,900 (-9.0%) | $222,004 (12.8%) | 0.00 | 26 |
2021-06-01 | $149,450 (-7.9%) | $214,194 (2.3%) | 0.00 | 33 |
2021-07-01 | $143,750 (5.6%) | $200,670 (0.1%) | 0.00 | 37 |
2021-08-01 | $149,900 (4.3%) | $249,888 (28.1%) | 0.00 | 43 |
2021-09-01 | $148,675 (-8.5%) | $230,682 (20.0%) | 0.00 | 48 |
2021-10-01 | $160,000 (0.0%) | $237,649 (16.4%) | 0.00 | 45 |
2021-11-01 | $185,925 (27.4%) | $242,817 (23.5%) | 0.00 | 46 |
2021-12-01 | $184,350 (36.7%) | $246,425 (41.2%) | 0.00 | 44 |
2022-01-01 | $174,900 (25.0%) | $242,719 (30.5%) | 0.00 | 33 |
2022-02-01 | $170,950 (6.4%) | $236,884 (22.1%) | 0.00 | 30 |
2022-03-01 | $219,900 (25.1%) | $244,635 (17.7%) | 0.00 | 22 |
2022-04-01 | $199,450 (33.5%) | $241,966 (33.1%) | 0.00 | 21 |
2022-05-01 | $214,725 (48.2%) | $232,488 (4.7%) | 0.00 | 25 |
2022-06-01 | $244,950 (63.9%) | $245,278 (14.5%) | 0.00 | 29 |
2022-07-01 | $229,000 (59.3%) | $241,847 (20.5%) | 0.00 | 34 |
2022-08-01 | $209,225 (39.6%) | $233,912 (-6.4%) | 0.00 | 43 |
2022-09-01 | $193,750 (30.3%) | $225,117 (-2.4%) | 0.00 | 51 |
2022-10-01 | $212,000 (32.5%) | $229,540 (-3.4%) | 0.00 | 50 |
2022-11-01 | $189,950 (2.2%) | $210,418 (-13.3%) | 0.00 | 55 |
2022-12-01 | $201,950 (9.6%) | $231,947 (-5.9%) | 0.00 | 45 |
2023-01-01 | $204,900 (17.2%) | $237,482 (-2.2%) | 0.00 | 41 |
2023-02-01 | $184,450 (7.9%) | $238,424 (0.7%) | 0.00 | 32 |
2023-03-01 | $210,000 (-4.5%) | $266,429 (8.9%) | 0.00 | 32 |
2023-04-01 | $204,900 (2.7%) | $274,950 (13.6%) | 0.00 | 37 |
2023-05-01 | $202,400 (-5.7%) | $269,958 (16.1%) | 0.00 | 35 |
2023-06-01 | $260,950 (6.5%) | $293,565 (19.7%) | 0.00 | 40 |
2023-07-01 | $269,900 (17.9%) | $290,879 (20.3%) | 0.00 | 44 |
2023-08-01 | $244,450 (16.8%) | $269,655 (15.3%) | 0.00 | 51 |
2023-09-01 | $254,750 (31.5%) | $285,060 (26.6%) | 0.00 | 51 |
2023-10-01 | $229,225 (8.1%) | $265,360 (15.6%) | 0.00 | 56 |
2023-11-01 | $215,725 (13.6%) | $254,374 (20.9%) | 0.00 | 57 |
2023-12-01 | $222,450 (10.2%) | $258,665 (11.5%) | 0.00 | 58 |
2024-01-01 | $219,750 (7.3%) | $249,568 (5.1%) | 0.00 | 57 |
2024-02-01 | $201,500 (9.2%) | $252,324 (5.8%) | 0.00 | 50 |
2024-03-01 | $227,500 (8.3%) | $273,791 (2.8%) | 0.00 | 54 |
2024-04-01 | $212,400 (3.7%) | $273,125 (-0.7%) | 0.00 | 53 |
2024-05-01 | $238,500 (17.8%) | $300,558 (11.3%) | 0.00 | 53 |
2024-06-01 | $245,000 (-6.1%) | $296,733 (1.1%) | 0.00 | 51 |
2024-07-01 | $234,800 (-13.0%) | $271,660 (-6.6%) | 0.00 | 55 |
2024-08-01 | $231,900 (-5.1%) | $268,541 (-0.4%) | 0.00 | 65 |
2024-09-01 | $229,850 (-9.8%) | $273,724 (-4.0%) | 0.00 | 74 |
2024-10-01 | $240,500 (4.9%) | $277,437 (4.6%) | 0.00 | 71 |
Mayfield's median listing price comes in at 0% of the national average.
Mayfield's average listing price for 2024-10-01 was $277,437, a difference of $12,077 (4.6%) versus the prior year and $3,713 versus the prior month.
For the 2024-10-01 period, Mayfield had 71 MLS listings, a difference of -3 listings (-4%) versus the prior month and 15 listings (27%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Mayfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,773 sqft |
2018-02-01 | 0 days | 1,760 sqft |
2018-03-01 | 0 days | 1,875 sqft |
2018-04-01 | 0 days | 1,764 sqft |
2018-05-01 | 0 days | 1,764 sqft |
2018-06-01 | 0 days | 1,786 sqft |
2018-07-01 | 0 days | 1,853 sqft |
2018-08-01 | 0 days | 1,766 sqft |
2018-09-01 | 0 days | 1,698 sqft |
2018-10-01 | 0 days | 1,710 sqft |
2018-11-01 | 0 days | 1,703 sqft |
2018-12-01 | 0 days | 1,700 sqft |
2019-01-01 | 0 days | 1,705 sqft |
2019-02-01 | 0 days | 1,688 sqft |
2019-03-01 | 0 days | 1,743 sqft |
2019-04-01 | 0 days | 1,772 sqft |
2019-05-01 | 0 days | 1,752 sqft |
2019-06-01 | 0 days | 1,817 sqft |
2019-07-01 | 0 days | 1,820 sqft |
2019-08-01 | 0 days | 1,777 sqft |
2019-09-01 | 0 days | 1,799 sqft |
2019-10-01 | 0 days | 1,806 sqft |
2019-11-01 | 0 days | 1,751 sqft |
2019-12-01 | 0 days | 1,901 sqft |
2020-01-01 | 0 days | 1,942 sqft |
2020-02-01 | 0 days | 1,913 sqft |
2020-03-01 | 0 days | 1,882 sqft |
2020-04-01 | 0 days | 1,887 sqft |
2020-05-01 | 0 days | 1,907 sqft |
2020-06-01 | 0 days | 1,900 sqft |
2020-07-01 | 0 days | 1,804 sqft |
2020-08-01 | 0 days | 1,800 sqft |
2020-09-01 | 0 days | 1,858 sqft |
2020-10-01 | 0 days | 1,800 sqft |
2020-11-01 | 0 days | 1,730 sqft |
2020-12-01 | 0 days | 1,613 sqft |
2021-01-01 | 0 days | 1,691 sqft |
2021-02-01 | 0 days | 1,755 sqft |
2021-03-01 | 0 days | 2,000 sqft |
2021-04-01 | 0 days | 1,697 sqft |
2021-05-01 | 0 days | 1,872 sqft |
2021-06-01 | 0 days | 1,801 sqft |
2021-07-01 | 0 days | 1,620 sqft |
2021-08-01 | 0 days | 1,803 sqft |
2021-09-01 | 0 days | 1,791 sqft |
2021-10-01 | 0 days | 1,754 sqft |
2021-11-01 | 0 days | 1,772 sqft |
2021-12-01 | 0 days | 1,847 sqft |
2022-01-01 | 0 days | 1,765 sqft |
2022-02-01 | 0 days | 1,773 sqft |
2022-03-01 | 0 days | 1,663 sqft |
2022-04-01 | 0 days | 1,800 sqft |
2022-05-01 | 0 days | 1,677 sqft |
2022-06-01 | 0 days | 1,746 sqft |
2022-07-01 | 0 days | 1,893 sqft |
2022-08-01 | 0 days | 1,774 sqft |
2022-09-01 | 0 days | 1,774 sqft |
2022-10-01 | 0 days | 1,680 sqft |
2022-11-01 | 0 days | 1,609 sqft |
2022-12-01 | 0 days | 1,735 sqft |
2023-01-01 | 0 days | 1,755 sqft |
2023-02-01 | 0 days | 1,643 sqft |
2023-03-01 | 0 days | 1,639 sqft |
2023-04-01 | 0 days | 1,653 sqft |
2023-05-01 | 0 days | 1,788 sqft |
2023-06-01 | 0 days | 1,944 sqft |
2023-07-01 | 0 days | 1,874 sqft |
2023-08-01 | 0 days | 1,708 sqft |
2023-09-01 | 0 days | 1,792 sqft |
2023-10-01 | 0 days | 1,829 sqft |
2023-11-01 | 0 days | 1,741 sqft |
2023-12-01 | 0 days | 1,776 sqft |
2024-01-01 | 0 days | 1,830 sqft |
2024-02-01 | 0 days | 1,704 sqft |
2024-03-01 | 0 days | 1,738 sqft |
2024-04-01 | 0 days | 1,645 sqft |
2024-05-01 | 0 days | 1,779 sqft |
2024-06-01 | 0 days | 1,791 sqft |
2024-07-01 | 0 days | 1,683 sqft |
2024-08-01 | 0 days | 1,698 sqft |
2024-09-01 | 0 days | 1,815 sqft |
2024-10-01 | 0 days | 1,800 sqft |
Mayfield's median square footage for active listings during the 2024-10-01 period was 1,800 sqft. One year prior, the average listing was 1,829 sqft.