Maysville FHA Loan Rates, Closing Costs & Stats

Maysville, 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.

    Maysville's 20 lenders originated 34 FHA loans during 2023. The total origination value was $5,140,000, with an average FHA loan value of $151,176.

    Maysville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Maysville averaged 7.06% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

    Maysville's average FHA mortgage closing costs are $6,014.

    The average rate for the prior week (2024-04-05) was 6.88% and one month ago for the week of 2024-03-08, the average rate was 7.02%.

    The average rate one year ago was 6.46%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.74%.

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

    Maysville 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 Maysville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 3 6.12% $12,428
    S1L, Inc. 3 6.96% $6,852
    U.S. Bank 3 6.75% $6,103
    DAS Acquisition Company, LLC 2 6.50% $10,814
    Mr. Cooper ( Nationstar Mortgage ) 2 5.88% $9,796
    STOCKTON MORTGAGE CORPORATION 2 6.75% $8,298
    LOANDEPOT.COM, LLC 2 6.62% $9,286
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $3,200
    ROYAL UNITED MORTGAGE LLC 1 7.25% $8,390
    Stock Yards Bank & Trust Company 1 6.75% $7,284
    The Huntington National Bank 1 6.75% $7,926
    Union Savings Bank 1 6.75% $7,091
    UNITED WHOLESALE MORTGAGE, LLC 1 4.88% $7,986
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $4,888
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.50% $9,481
    AMERISAVE MORTGAGE CORPORATION 1 6.00% $8,332
    Central Bank 1 7.00% $3,270
    LIBERTY HOME MORTGAGE CORPORATION 1 7.13% $2,769
    MYCUMORTGAGE, LLC 1 6.63% $4,935
    PENNYMAC LOAN SERVICES, LLC 1 5.75% $9,342

    The top Maysville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 3 FHA loans originated. Their average total fees are $12,428, which is $5,576 higher than the next largest lender, S1L, Inc..

    The lowest fee Maysville FHA lenders (with over 10 loans originated) are .

    The lowest rate Maysville FHA lenders (with over 10 loans originated) are .

    Maysville FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    MAYSVILLE, KY MASON 2022 $420,680 $538,650 $651,050 $809,150
    MAYSVILLE, KY MASON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Maysville (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 $135,000 (150.0%) $126,869 (113.7%) 0.00 13
    2018-02-01 $132,450 (72.6%) $131,353 (88.6%) 0.00 14
    2018-03-01 $135,000 (131.8%) $134,738 (68.8%) 0.00 13
    2018-04-01 $106,250 (23.3%) $126,324 (-17.4%) 0.00 15
    2018-05-01 $92,850 (7.7%) $168,784 (10.5%) 0.00 18
    2018-06-01 $140,000 (-28.9%) $186,330 (-20.3%) 0.00 20
    2018-07-01 $155,500 (-25.6%) $245,727 (15.6%) 0.00 22
    2018-08-01 $147,250 (-29.6%) $232,375 (7.7%) 0.00 24
    2018-09-01 $132,000 (-33.9%) $210,424 (-2.8%) 0.00 26
    2018-10-01 $130,475 (-5.4%) $209,072 (34.0%) 0.00 26
    2018-11-01 $135,475 (3.8%) $204,838 (52.8%) 0.00 26
    2018-12-01 $139,000 (0.8%) $205,026 (55.7%) 0.00 23
    2019-01-01 $127,975 (-5.2%) $189,092 (49.0%) 0.00 22
    2019-02-01 $105,750 (-20.2%) $177,853 (35.4%) 0.00 21
    2019-03-01 $88,100 (-34.7%) $163,539 (21.4%) 0.00 19
    2019-04-01 $82,350 (-22.5%) $160,413 (27.0%) 0.00 19
    2019-05-01 $92,250 (-0.7%) $157,402 (-6.7%) 0.00 17
    2019-06-01 $98,000 (-30.0%) $159,460 (-14.4%) 0.00 19
    2019-07-01 $103,200 (-33.6%) $164,297 (-33.1%) 0.00 22
    2019-08-01 $83,364 (-43.4%) $154,628 (-33.5%) 0.00 19
    2019-09-01 $78,659 (-40.4%) $148,802 (-29.3%) 0.00 18
    2019-10-01 $75,523 (-42.1%) $149,924 (-28.3%) 0.00 17
    2019-11-01 $142,000 (4.8%) $185,450 (-9.5%) 0.00 16
    2019-12-01 $175,000 (25.9%) $200,370 (-2.3%) 0.00 15
    2020-01-01 $119,475 (-6.6%) $212,710 (12.5%) 0.00 22
    2020-02-01 $129,000 (22.0%) $221,967 (24.8%) 0.00 21
    2020-03-01 $124,500 (41.3%) $196,946 (20.4%) 0.00 24
    2020-04-01 $125,625 (52.6%) $196,579 (22.6%) 0.00 24
    2020-05-01 $139,900 (51.7%) $210,062 (33.5%) 0.00 20
    2020-06-01 $119,500 (21.9%) $229,483 (43.9%) 0.00 15
    2020-07-01 $122,000 (18.2%) $246,046 (49.8%) 0.00 13
    2020-08-01 $184,500 (121.3%) $314,591 (103.5%) 0.00 11
    2020-09-01 $191,500 (143.5%) $320,690 (115.5%) 0.00 10
    2020-10-01 $179,900 (138.2%) $336,533 (124.5%) 0.00 9
    2020-11-01 $179,950 (26.7%) $340,589 (83.7%) 0.00 8
    2020-12-01 $220,000 (25.7%) $421,343 (110.3%) 0.00 7
    2021-01-01 $180,000 (50.7%) $356,531 (67.6%) 0.00 7
    2021-02-01 $187,250 (45.2%) $368,114 (65.8%) 0.00 7
    2021-03-01 $224,950 (80.7%) $379,479 (92.7%) 0.00 6
    2021-04-01 $233,725 (86.1%) $352,419 (79.3%) 0.00 8
    2021-05-01 $227,450 (62.6%) $337,800 (60.8%) 0.00 10
    2021-06-01 $224,900 (88.2%) $335,055 (46.0%) 0.00 11
    2021-07-01 $250,000 (104.9%) $249,863 (1.6%) 0.00 10
    2021-08-01 $199,500 (8.1%) $318,610 (1.3%) 0.00 11
    2021-09-01 $159,725 (-16.6%) $263,626 (-17.8%) 0.00 13
    2021-10-01 $154,900 (-13.9%) $303,972 (-9.7%) 0.00 8
    2021-11-01 $198,425 (10.3%) $313,947 (-7.8%) 0.00 11
    2021-12-01 $229,000 (4.1%) $332,680 (-21.0%) 0.00 9
    2022-01-01 $199,900 (11.1%) $295,527 (-17.1%) 0.00 10
    2022-02-01 $194,250 (3.7%) $266,281 (-27.7%) 0.00 12
    2022-03-01 $163,200 (-27.5%) $235,933 (-37.8%) 0.00 12
    2022-04-01 $151,200 (-35.3%) $232,925 (-33.9%) 0.00 11
    2022-05-01 $124,125 (-45.4%) $218,512 (-35.3%) 0.00 14
    2022-06-01 $130,600 (-41.9%) $253,732 (-24.3%) 0.00 15
    2022-07-01 $159,000 (-36.4%) $277,939 (11.2%) 0.00 15
    2022-08-01 $176,175 (-11.7%) $222,595 (-30.1%) 0.00 16
    2022-09-01 $156,150 (-2.2%) $230,792 (-12.5%) 0.00 14
    2022-10-01 $179,000 (15.6%) $323,833 (6.5%) 0.00 18
    2022-11-01 $174,450 (-12.1%) $251,518 (-19.9%) 0.00 17
    2022-12-01 $205,000 (-10.5%) $273,613 (-17.8%) 0.00 15
    2023-01-01 $184,900 (-7.5%) $237,659 (-19.6%) 0.00 17
    2023-02-01 $172,400 (-11.3%) $224,218 (-15.8%) 0.00 17
    2023-03-01 $153,475 (-6.0%) $246,047 (4.3%) 0.00 14
    2023-04-01 $92,500 (-38.8%) $170,186 (-26.9%) 0.00 15
    2023-05-01 $105,000 (-15.4%) $223,541 (2.3%) 0.00 14
    2023-06-01 $167,500 (28.3%) $217,573 (-14.3%) 0.00 12
    2023-07-01 $167,500 (5.4%) $206,629 (-25.7%) 0.00 11
    2023-08-01 $201,925 (14.6%) $232,108 (4.3%) 0.00 12
    2023-09-01 $184,900 (18.4%) $227,873 (-1.3%) 0.00 10
    2023-10-01 $187,450 (4.7%) $234,831 (-27.5%) 0.00 8
    2023-11-01 $261,100 (49.7%) $273,037 (8.6%) 0.00 12
    2023-12-01 $242,450 (18.3%) $271,740 (-0.7%) 0.00 11
    2024-01-01 $182,450 (-1.3%) $259,143 (9.0%) 0.00 10
    2024-02-01 $157,450 (-8.7%) $213,238 (-4.9%) 0.00 10
    2024-03-01 $159,500 (3.9%) $212,098 (-13.8%) 0.00 12
    Maysville's median listing price for 2024-03-01 was $159,500, a difference of $6,025 (3.9%) versus the prior year and $2,050 versus the prior month.

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

    Maysville's average listing price for 2024-03-01 was $212,098, a difference of $-33,949 (-13.8%) versus the prior year and $-1,140 versus the prior month.

    For the 2024-03-01 period, Maysville had 12 MLS listings, a difference of 2 listings (20%) versus the prior month and -2 listings (-14%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Maysville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,800 sqft
    2018-02-01 0 days 1,980 sqft
    2018-03-01 0 days 2,170 sqft
    2018-04-01 0 days 2,400 sqft
    2018-05-01 0 days 2,235 sqft
    2018-06-01 0 days 2,170 sqft
    2018-07-01 0 days 2,700 sqft
    2018-08-01 0 days 2,500 sqft
    2018-09-01 0 days 2,370 sqft
    2018-10-01 0 days 2,571 sqft
    2018-11-01 0 days 2,040 sqft
    2018-12-01 0 days 1,920 sqft
    2019-01-01 0 days 1,800 sqft
    2019-02-01 0 days 1,706 sqft
    2019-03-01 0 days 1,550 sqft
    2019-04-01 0 days 1,438 sqft
    2019-05-01 0 days 1,516 sqft
    2019-06-01 0 days 1,620 sqft
    2019-07-01 0 days 1,674 sqft
    2019-08-01 0 days 1,678 sqft
    2019-09-01 0 days 1,645 sqft
    2019-10-01 0 days 1,624 sqft
    2019-11-01 0 days 1,740 sqft
    2019-12-01 0 days 1,800 sqft
    2020-01-01 0 days 2,084 sqft
    2020-02-01 0 days 2,178 sqft
    2020-03-01 0 days 1,990 sqft
    2020-04-01 0 days 1,848 sqft
    2020-05-01 0 days 1,800 sqft
    2020-06-01 0 days 1,759 sqft
    2020-07-01 0 days 1,848 sqft
    2020-08-01 0 days 1,896 sqft
    2020-09-01 0 days 2,640 sqft
    2020-10-01 0 days 3,507 sqft
    2020-11-01 0 days 3,534 sqft
    2020-12-01 0 days 3,534 sqft
    2021-01-01 0 days 2,960 sqft
    2021-02-01 0 days 3,220 sqft
    2021-03-01 0 days 2,940 sqft
    2021-04-01 0 days 2,640 sqft
    2021-05-01 0 days 2,820 sqft
    2021-06-01 0 days 2,580 sqft
    2021-07-01 0 days 2,240 sqft
    2021-08-01 0 days 2,178 sqft
    2021-09-01 0 days 2,135 sqft
    2021-10-01 0 days 1,842 sqft
    2021-11-01 0 days 2,466 sqft
    2021-12-01 0 days 3,071 sqft
    2022-01-01 0 days 2,576 sqft
    2022-02-01 0 days 2,108 sqft
    2022-03-01 0 days 2,030 sqft
    2022-04-01 0 days 2,430 sqft
    2022-05-01 0 days 1,414 sqft
    2022-06-01 0 days 2,011 sqft
    2022-07-01 0 days 1,959 sqft
    2022-08-01 0 days 2,442 sqft
    2022-09-01 0 days 1,959 sqft
    2022-10-01 0 days 2,344 sqft
    2022-11-01 0 days 2,400 sqft
    2022-12-01 0 days 2,408 sqft
    2023-01-01 0 days 2,406 sqft
    2023-02-01 0 days 2,406 sqft
    2023-03-01 0 days 1,568 sqft
    2023-04-01 0 days 1,374 sqft
    2023-05-01 0 days 1,500 sqft
    2023-06-01 0 days 1,466 sqft
    2023-07-01 0 days 1,527 sqft
    2023-08-01 0 days 1,650 sqft
    2023-09-01 0 days 1,794 sqft
    2023-10-01 0 days 1,520 sqft
    2023-11-01 0 days 2,734 sqft
    2023-12-01 0 days 2,657 sqft
    2024-01-01 0 days 1,664 sqft
    2024-02-01 0 days 1,416 sqft
    2024-03-01 0 days 1,416 sqft
    Maysville's median listing age (time on market) for 2024-03-01 was 0 days.

    Maysville's median square footage for active listings during the 2024-03-01 period was 1,416 sqft. One year prior, the average listing was 1,568 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).