Murray FHA Loan Rates, Closing Costs & Stats
Murray, 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.
Murray's 29 lenders originated 65 FHA loans during 2023. The total origination value was $12,735,000, with an average FHA loan value of $195,923.
Murray FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Murray
averaged
6.39%
for the week of 2024-12-06, compared to the national average (all FHA variants) of
6.363% for the same period.
Murray's average FHA mortgage closing costs are $6,695.
The average rate for the prior week (2024-11-29) was
6.63% and
one month ago for the week of 2024-11-01, the
average rate was 6.53%.
The average rate one year ago was 7.25%.
For refis of the same type during the week of 2024-12-06, the average rate
was 6.26%.
Murray 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 Murray level.
The top Murray FHA lender as defined by loan originations is FirstTrust Home Loans, Inc., with
7 FHA loans originated. Their average total fees are
$9,044, which is $659
lower than the next largest lender,
Magnolia Bank.
The lowest fee Murray FHA lenders (with over 10 loans originated) are
.
The lowest rate Murray FHA lenders (with over 10 loans originated) are
.
Murray FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
MURRAY, KY | CALLOWAY | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
MURRAY, KY | CALLOWAY | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Murray (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 | $171,575 (4.3%) | $240,022 (-3.6%) | 0.00 | 193 |
2018-02-01 | $178,250 (5.3%) | $248,314 (-5.0%) | 0.00 | 181 |
2018-03-01 | $169,450 (-8.5%) | $245,490 (-9.1%) | 0.00 | 202 |
2018-04-01 | $170,000 (-6.9%) | $242,837 (-7.6%) | 0.00 | 230 |
2018-05-01 | $168,750 (-9.8%) | $241,861 (-8.3%) | 0.00 | 240 |
2018-06-01 | $169,900 (-12.3%) | $244,380 (-8.9%) | 0.00 | 231 |
2018-07-01 | $179,225 (-10.3%) | $242,195 (-10.5%) | 0.00 | 229 |
2018-08-01 | $181,200 (-3.8%) | $242,618 (-6.9%) | 0.00 | 233 |
2018-09-01 | $189,000 (1.0%) | $249,019 (-4.4%) | 0.00 | 228 |
2018-10-01 | $190,950 (4.6%) | $252,500 (-2.0%) | 0.00 | 218 |
2018-11-01 | $190,175 (7.8%) | $250,809 (-0.4%) | 0.00 | 210 |
2018-12-01 | $189,900 (5.8%) | $257,420 (5.6%) | 0.00 | 192 |
2019-01-01 | $189,900 (10.7%) | $256,261 (6.8%) | 0.00 | 186 |
2019-02-01 | $182,475 (2.4%) | $251,678 (1.4%) | 0.00 | 184 |
2019-03-01 | $182,643 (7.8%) | $248,677 (1.3%) | 0.00 | 200 |
2019-04-01 | $184,900 (8.8%) | $248,139 (2.2%) | 0.00 | 221 |
2019-05-01 | $185,500 (9.9%) | $250,104 (3.4%) | 0.00 | 232 |
2019-06-01 | $188,000 (10.7%) | $255,794 (4.7%) | 0.00 | 232 |
2019-07-01 | $189,450 (5.7%) | $259,333 (7.1%) | 0.00 | 232 |
2019-08-01 | $193,864 (7.0%) | $266,491 (9.8%) | 0.00 | 216 |
2019-09-01 | $195,909 (3.7%) | $268,518 (7.8%) | 0.00 | 201 |
2019-10-01 | $196,023 (2.7%) | $263,913 (4.5%) | 0.00 | 186 |
2019-11-01 | $189,000 (-0.6%) | $246,705 (-1.6%) | 0.00 | 189 |
2019-12-01 | $188,200 (-0.9%) | $243,779 (-5.3%) | 0.00 | 181 |
2020-01-01 | $182,400 (-4.0%) | $242,515 (-5.4%) | 0.00 | 167 |
2020-02-01 | $189,450 (3.8%) | $269,642 (7.1%) | 0.00 | 125 |
2020-03-01 | $238,975 (30.8%) | $299,988 (20.6%) | 0.00 | 127 |
2020-04-01 | $244,200 (32.1%) | $303,025 (22.1%) | 0.00 | 116 |
2020-05-01 | $269,900 (45.5%) | $317,633 (27.0%) | 0.00 | 101 |
2020-06-01 | $264,825 (40.9%) | $332,525 (30.0%) | 0.00 | 88 |
2020-07-01 | $250,425 (32.2%) | $342,907 (32.2%) | 0.00 | 84 |
2020-08-01 | $289,000 (49.1%) | $374,312 (40.5%) | 0.00 | 84 |
2020-09-01 | $299,000 (52.6%) | $393,058 (46.4%) | 0.00 | 78 |
2020-10-01 | $303,500 (54.8%) | $393,339 (49.0%) | 0.00 | 73 |
2020-11-01 | $297,000 (57.1%) | $407,321 (65.1%) | 0.00 | 77 |
2020-12-01 | $249,250 (32.4%) | $391,928 (60.8%) | 0.00 | 76 |
2021-01-01 | $282,250 (54.7%) | $432,521 (78.4%) | 0.00 | 58 |
2021-02-01 | $295,000 (55.7%) | $504,397 (87.1%) | 0.00 | 46 |
2021-03-01 | $289,825 (21.3%) | $478,299 (59.4%) | 0.00 | 43 |
2021-04-01 | $319,000 (30.6%) | $429,961 (41.9%) | 0.00 | 40 |
2021-05-01 | $364,950 (35.2%) | $482,433 (51.9%) | 0.00 | 40 |
2021-06-01 | $252,250 (-4.8%) | $412,618 (24.1%) | 0.00 | 46 |
2021-07-01 | $222,450 (-11.2%) | $381,412 (11.2%) | 0.00 | 54 |
2021-08-01 | $225,975 (-21.8%) | $411,281 (9.9%) | 0.00 | 56 |
2021-09-01 | $227,475 (-23.9%) | $407,317 (3.6%) | 0.00 | 53 |
2021-10-01 | $249,450 (-17.8%) | $411,717 (4.7%) | 0.00 | 57 |
2021-11-01 | $234,250 (-21.1%) | $399,737 (-1.9%) | 0.00 | 59 |
2021-12-01 | $240,700 (-3.4%) | $409,292 (4.4%) | 0.00 | 63 |
2022-01-01 | $291,900 (3.4%) | $433,083 (0.1%) | 0.00 | 51 |
2022-02-01 | $321,950 (9.1%) | $472,520 (-6.3%) | 0.00 | 37 |
2022-03-01 | $328,000 (13.2%) | $448,002 (-6.3%) | 0.00 | 35 |
2022-04-01 | $282,000 (-11.6%) | $433,121 (0.7%) | 0.00 | 32 |
2022-05-01 | $312,425 (-14.4%) | $419,315 (-13.1%) | 0.00 | 40 |
2022-06-01 | $327,000 (29.6%) | $405,800 (-1.7%) | 0.00 | 44 |
2022-07-01 | $320,000 (43.9%) | $413,042 (8.3%) | 0.00 | 48 |
2022-08-01 | $323,700 (43.3%) | $421,968 (2.6%) | 0.00 | 50 |
2022-09-01 | $351,500 (54.5%) | $451,028 (10.7%) | 0.00 | 47 |
2022-10-01 | $343,750 (37.8%) | $416,985 (1.3%) | 0.00 | 53 |
2022-11-01 | $347,000 (48.1%) | $429,397 (7.4%) | 0.00 | 57 |
2022-12-01 | $299,000 (24.2%) | $394,205 (-3.7%) | 0.00 | 59 |
2023-01-01 | $279,950 (-4.1%) | $352,843 (-18.5%) | 0.00 | 53 |
2023-02-01 | $277,500 (-13.8%) | $362,915 (-23.2%) | 0.00 | 53 |
2023-03-01 | $329,250 (0.4%) | $376,964 (-15.9%) | 0.00 | 50 |
2023-04-01 | $345,000 (22.3%) | $395,176 (-8.8%) | 0.00 | 53 |
2023-05-01 | $342,500 (9.6%) | $419,506 (0.1%) | 0.00 | 47 |
2023-06-01 | $347,000 (6.1%) | $428,750 (5.7%) | 0.00 | 54 |
2023-07-01 | $382,000 (19.4%) | $449,241 (8.8%) | 0.00 | 62 |
2023-08-01 | $362,175 (11.9%) | $432,434 (2.5%) | 0.00 | 68 |
2023-09-01 | $337,000 (-4.1%) | $416,760 (-7.6%) | 0.00 | 76 |
2023-10-01 | $318,675 (-7.3%) | $396,340 (-5.0%) | 0.00 | 72 |
2023-11-01 | $321,200 (-7.4%) | $434,221 (1.1%) | 0.00 | 70 |
2023-12-01 | $320,000 (7.0%) | $443,119 (12.4%) | 0.00 | 65 |
2024-01-01 | $313,675 (12.1%) | $430,118 (21.9%) | 0.00 | 62 |
2024-02-01 | $320,625 (15.5%) | $438,878 (20.9%) | 0.00 | 56 |
2024-03-01 | $342,000 (3.9%) | $451,837 (19.9%) | 0.00 | 53 |
2024-04-01 | $325,000 (-5.8%) | $458,690 (16.1%) | 0.00 | 66 |
2024-05-01 | $319,975 (-6.6%) | $455,019 (8.5%) | 0.00 | 73 |
2024-06-01 | $329,000 (-5.2%) | $465,059 (8.5%) | 0.00 | 83 |
2024-07-01 | $349,725 (-8.5%) | $452,143 (0.7%) | 0.00 | 89 |
2024-08-01 | $350,000 (-3.4%) | $446,134 (3.2%) | 0.00 | 93 |
2024-09-01 | $295,700 (-12.3%) | $409,919 (-1.6%) | 0.00 | 88 |
2024-10-01 | $356,750 (12.0%) | $435,558 (9.9%) | 0.00 | 89 |
2024-11-01 | $362,000 (12.7%) | $436,958 (0.6%) | 0.00 | 84 |
Murray's median listing price comes in at 0% of the national average.
Murray's average listing price for 2024-11-01 was $436,958, a difference of $2,737 (0.6%) versus the prior year and $1,400 versus the prior month.
For the 2024-11-01 period, Murray had 84 MLS listings, a difference of -5 listings (-6%) versus the prior month and 14 listings (20%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Murray (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,916 sqft |
2018-02-01 | 0 days | 1,947 sqft |
2018-03-01 | 0 days | 1,902 sqft |
2018-04-01 | 0 days | 1,895 sqft |
2018-05-01 | 0 days | 1,892 sqft |
2018-06-01 | 0 days | 1,870 sqft |
2018-07-01 | 0 days | 1,876 sqft |
2018-08-01 | 0 days | 1,917 sqft |
2018-09-01 | 0 days | 1,930 sqft |
2018-10-01 | 0 days | 2,003 sqft |
2018-11-01 | 0 days | 2,018 sqft |
2018-12-01 | 0 days | 2,024 sqft |
2019-01-01 | 0 days | 2,032 sqft |
2019-02-01 | 0 days | 1,996 sqft |
2019-03-01 | 0 days | 1,947 sqft |
2019-04-01 | 0 days | 1,882 sqft |
2019-05-01 | 0 days | 1,925 sqft |
2019-06-01 | 0 days | 1,955 sqft |
2019-07-01 | 0 days | 2,025 sqft |
2019-08-01 | 0 days | 2,056 sqft |
2019-09-01 | 0 days | 2,074 sqft |
2019-10-01 | 0 days | 2,070 sqft |
2019-11-01 | 0 days | 2,026 sqft |
2019-12-01 | 0 days | 1,948 sqft |
2020-01-01 | 0 days | 1,869 sqft |
2020-02-01 | 0 days | 1,854 sqft |
2020-03-01 | 0 days | 2,025 sqft |
2020-04-01 | 0 days | 2,139 sqft |
2020-05-01 | 0 days | 2,290 sqft |
2020-06-01 | 0 days | 2,185 sqft |
2020-07-01 | 0 days | 2,149 sqft |
2020-08-01 | 0 days | 2,269 sqft |
2020-09-01 | 0 days | 2,208 sqft |
2020-10-01 | 0 days | 2,251 sqft |
2020-11-01 | 0 days | 2,391 sqft |
2020-12-01 | 0 days | 2,153 sqft |
2021-01-01 | 0 days | 2,506 sqft |
2021-02-01 | 0 days | 2,561 sqft |
2021-03-01 | 0 days | 2,433 sqft |
2021-04-01 | 0 days | 2,597 sqft |
2021-05-01 | 0 days | 2,640 sqft |
2021-06-01 | 0 days | 1,945 sqft |
2021-07-01 | 0 days | 1,748 sqft |
2021-08-01 | 0 days | 1,829 sqft |
2021-09-01 | 0 days | 1,816 sqft |
2021-10-01 | 0 days | 1,960 sqft |
2021-11-01 | 0 days | 1,868 sqft |
2021-12-01 | 0 days | 1,883 sqft |
2022-01-01 | 0 days | 2,093 sqft |
2022-02-01 | 0 days | 2,065 sqft |
2022-03-01 | 0 days | 2,035 sqft |
2022-04-01 | 0 days | 2,022 sqft |
2022-05-01 | 0 days | 2,189 sqft |
2022-06-01 | 0 days | 2,059 sqft |
2022-07-01 | 0 days | 2,100 sqft |
2022-08-01 | 0 days | 2,280 sqft |
2022-09-01 | 0 days | 2,280 sqft |
2022-10-01 | 0 days | 2,291 sqft |
2022-11-01 | 0 days | 2,294 sqft |
2022-12-01 | 0 days | 2,243 sqft |
2023-01-01 | 0 days | 2,004 sqft |
2023-02-01 | 0 days | 1,980 sqft |
2023-03-01 | 0 days | 2,257 sqft |
2023-04-01 | 0 days | 2,320 sqft |
2023-05-01 | 0 days | 2,594 sqft |
2023-06-01 | 0 days | 2,581 sqft |
2023-07-01 | 0 days | 2,597 sqft |
2023-08-01 | 0 days | 2,406 sqft |
2023-09-01 | 0 days | 2,336 sqft |
2023-10-01 | 0 days | 2,233 sqft |
2023-11-01 | 0 days | 2,236 sqft |
2023-12-01 | 0 days | 2,364 sqft |
2024-01-01 | 0 days | 2,260 sqft |
2024-02-01 | 0 days | 2,294 sqft |
2024-03-01 | 0 days | 2,240 sqft |
2024-04-01 | 0 days | 2,200 sqft |
2024-05-01 | 0 days | 2,241 sqft |
2024-06-01 | 0 days | 2,250 sqft |
2024-07-01 | 0 days | 2,132 sqft |
2024-08-01 | 0 days | 2,233 sqft |
2024-09-01 | 0 days | 2,173 sqft |
2024-10-01 | 0 days | 2,204 sqft |
2024-11-01 | 0 days | 2,252 sqft |
Murray's median square footage for active listings during the 2024-11-01 period was 2,252 sqft. One year prior, the average listing was 2,236 sqft.