Paducah FHA Loan Rates, Closing Costs & Stats

Paducah, KY-IL

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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.

    Paducah's 42 lenders originated 224 FHA loans during 2023. The total origination value was $37,950,000, with an average FHA loan value of $169,420.

    Paducah FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Paducah averaged 6.58% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Paducah's average FHA mortgage closing costs are $5,493.

    The average rate for the prior week (2025-02-07) was 6.89% and one month ago for the week of 2025-01-10, the average rate was 6.65%.

    The average rate one year ago was 6.88%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.62%.

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

    Paducah 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 Paducah level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    STOCKTON MORTGAGE CORPORATION 34 6.62% $9,061
    GERSHMAN INVESTMENT CORP. 29 6.66% $5,627
    EVERETT FINANCIAL, INC. 24 7.28% $7,526
    QUICKEN LOANS, LLC 21 6.25% $8,100
    Regions Bank 11 6.28% $5,743
    UNITED WHOLESALE MORTGAGE, LLC 9 6.09% $6,962
    LOANDEPOT.COM, LLC 8 6.98% $8,550
    FirstTrust Home Loans, Inc. 8 7.14% $7,716
    U.S. Bank 8 6.97% $5,619
    RUOFF MORTGAGE COMPANY, INC. 7 6.79% $5,106
    AMERISAVE MORTGAGE CORPORATION 5 6.73% $13,213
    Mortgage Research Center, LLC 4 7.31% $6,130
    FLAT BRANCH MORTGAGE, INC. 4 7.19% $6,244
    Barrington Bank & Trust Company, N.A. 3 6.75% $8,182
    NEWREZ LLC 3 6.25% $6,680
    Mr. Cooper ( Nationstar Mortgage ) 3 6.00% $13,816
    TOP FLITE FINANCIAL, INC. 2 7.00% $11,789
    BROKER SOLUTIONS, INC. 2 6.50% $14,927
    Equity Prime Mortgage LLC 2 6.63% $3,560
    MYCUMORTGAGE, LLC 2 7.13% $7,608
    CARDINAL FINANCIAL 2 5.12% $6,456
    Willamette Valley Bank 1 7.50% $15,122
    Carrington Mortgage Services, LLC 1 6.63% $8,234
    Citizens Bank 1 7.25% $6,990
    CMG MORTGAGE, INC. 1 7.75% $11,393
    CRESCENT MORTGAGE COMPANY 1 7.00% $8,074
    CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $4,655
    DAS Acquisition Company, LLC 1 7.13% $8,269
    ENDEAVOR CAPITAL, LLC. 1 6.99% $6,873
    LAKEVIEW LOAN SERVICING, LLC 1 7.13% $5,905
    Magnolia Bank 1 7.00% $6,981
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $8,803
    Neighborhood Loans, Inc. 1 5.75% $6,954
    NFM, INC. 1 7.38% $9,974
    OCMBC, INC. 1 6.75% $7,244
    PENNYMAC LOAN SERVICES, LLC 1 5.63% $5,629
    PLANET HOME LENDING, LLC 1 6.63% $3,121
    RELIANCE FIRST CAPITAL, LLC 1 7.25% $4,631
    TOWNE MORTGAGE COMPANY 1 6.75% $7,865
    UNION HOME MORTGAGE CORP. 1 6.50% $6,461
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.88% $10,991
    VILLAGE CAPITAL MORTGAGE 1 6.00% $10,912

    The top Paducah FHA lender as defined by loan originations is STOCKTON MORTGAGE CORPORATION, with 34 FHA loans originated. Their average total fees are $9,061, which is $3,434 higher than the next largest lender, GERSHMAN INVESTMENT CORP..

    The lowest fee Paducah FHA lenders (with over 10 loans originated) are GERSHMAN INVESTMENT CORP. ($5,627), Regions Bank ($5,743), EVERETT FINANCIAL, INC. ($7,526), QUICKEN LOANS, LLC ($8,100) and STOCKTON MORTGAGE CORPORATION ($9,061).

    The lowest rate Paducah FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.25%), Regions Bank (6.28%), STOCKTON MORTGAGE CORPORATION (6.62%), GERSHMAN INVESTMENT CORP. (6.66%) and EVERETT FINANCIAL, INC. (7.28%).

    Paducah FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    PADUCAH, KY-IL MASSAC 2022 $420,680 $538,650 $651,050 $809,150
    PADUCAH, KY-IL BALLARD 2022 $420,680 $538,650 $651,050 $809,150
    PADUCAH, KY-IL LIVINGSTON 2022 $420,680 $538,650 $651,050 $809,150
    PADUCAH, KY-IL MCCRACKEN 2022 $420,680 $538,650 $651,050 $809,150
    PADUCAH, KY-IL MASSAC 2023 $472,030 $604,400 $730,525 $907,900
    PADUCAH, KY-IL BALLARD 2023 $472,030 $604,400 $730,525 $907,900
    PADUCAH, KY-IL LIVINGSTON 2023 $472,030 $604,400 $730,525 $907,900
    PADUCAH, KY-IL MCCRACKEN 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Paducah (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 $134,900 (-3.2%) $172,507 (-8.2%) 0.00 576
    2018-02-01 $130,400 (-6.8%) $168,064 (-10.6%) 0.00 574
    2018-03-01 $139,950 (0.0%) $173,304 (-7.8%) 0.00 597
    2018-04-01 $144,000 (-0.7%) $176,895 (-8.4%) 0.00 606
    2018-05-01 $144,000 (-1.2%) $181,936 (-6.4%) 0.00 636
    2018-06-01 $141,450 (-3.8%) $183,752 (-3.8%) 0.00 643
    2018-07-01 $139,175 (-7.2%) $178,381 (-6.8%) 0.00 660
    2018-08-01 $135,000 (-8.8%) $175,995 (-6.4%) 0.00 637
    2018-09-01 $134,900 (-3.6%) $175,828 (-4.3%) 0.00 622
    2018-10-01 $134,950 (-6.9%) $179,621 (-2.8%) 0.00 602
    2018-11-01 $135,000 (-3.5%) $179,989 (1.4%) 0.00 587
    2018-12-01 $144,200 (3.1%) $190,460 (8.1%) 0.00 534
    2019-01-01 $144,300 (7.0%) $192,272 (11.5%) 0.00 516
    2019-02-01 $144,400 (10.7%) $194,909 (16.0%) 0.00 531
    2019-03-01 $142,757 (2.0%) $194,875 (12.5%) 0.00 559
    2019-04-01 $139,900 (-2.9%) $192,546 (8.9%) 0.00 570
    2019-05-01 $142,200 (-1.3%) $199,434 (9.6%) 0.00 571
    2019-06-01 $139,900 (-1.1%) $203,082 (10.5%) 0.00 591
    2019-07-01 $139,900 (0.5%) $203,601 (14.1%) 0.00 592
    2019-08-01 $141,823 (5.1%) $207,452 (17.9%) 0.00 586
    2019-09-01 $144,707 (7.3%) $208,943 (18.8%) 0.00 574
    2019-10-01 $146,950 (8.9%) $209,938 (16.9%) 0.00 566
    2019-11-01 $149,000 (10.4%) $212,207 (17.9%) 0.00 543
    2019-12-01 $150,000 (4.0%) $218,611 (14.8%) 0.00 496
    2020-01-01 $139,925 (-3.0%) $211,960 (10.2%) 0.00 469
    2020-02-01 $139,000 (-3.7%) $214,521 (10.1%) 0.00 398
    2020-03-01 $144,950 (1.5%) $224,979 (15.5%) 0.00 400
    2020-04-01 $143,450 (2.5%) $225,846 (17.3%) 0.00 375
    2020-05-01 $145,000 (2.0%) $220,208 (10.4%) 0.00 329
    2020-06-01 $155,700 (11.3%) $227,078 (11.8%) 0.00 321
    2020-07-01 $161,075 (15.1%) $226,786 (11.4%) 0.00 320
    2020-08-01 $159,900 (12.8%) $226,102 (9.0%) 0.00 300
    2020-09-01 $139,675 (-3.5%) $213,566 (2.2%) 0.00 288
    2020-10-01 $141,400 (-3.8%) $209,374 (-0.3%) 0.00 289
    2020-11-01 $139,900 (-6.1%) $208,233 (-1.9%) 0.00 261
    2020-12-01 $145,175 (-3.2%) $215,524 (-1.4%) 0.00 250
    2021-01-01 $139,900 (0.0%) $213,793 (0.9%) 0.00 231
    2021-02-01 $139,450 (0.3%) $211,714 (-1.3%) 0.00 211
    2021-03-01 $132,450 (-8.6%) $198,056 (-12.0%) 0.00 178
    2021-04-01 $140,900 (-1.8%) $211,528 (-6.3%) 0.00 160
    2021-05-01 $149,450 (3.1%) $212,561 (-3.5%) 0.00 159
    2021-06-01 $136,225 (-12.5%) $240,066 (5.7%) 0.00 164
    2021-07-01 $139,900 (-13.2%) $256,508 (13.1%) 0.00 164
    2021-08-01 $149,900 (-6.3%) $258,878 (14.5%) 0.00 159
    2021-09-01 $129,450 (-7.3%) $233,801 (9.5%) 0.00 157
    2021-10-01 $138,900 (-1.8%) $226,388 (8.1%) 0.00 155
    2021-11-01 $139,900 (0.0%) $255,260 (22.6%) 0.00 156
    2021-12-01 $122,500 (-15.6%) $202,381 (-6.1%) 0.00 146
    2022-01-01 $125,000 (-10.7%) $209,838 (-1.9%) 0.00 133
    2022-02-01 $135,646 (-2.7%) $208,372 (-1.6%) 0.00 128
    2022-03-01 $129,950 (-1.9%) $249,714 (26.1%) 0.00 149
    2022-04-01 $129,900 (-7.8%) $222,637 (5.3%) 0.00 153
    2022-05-01 $138,650 (-7.2%) $226,500 (6.6%) 0.00 158
    2022-06-01 $139,925 (2.7%) $228,975 (-4.6%) 0.00 169
    2022-07-01 $159,000 (13.7%) $246,545 (-3.9%) 0.00 175
    2022-08-01 $174,725 (16.6%) $244,574 (-5.5%) 0.00 169
    2022-09-01 $184,500 (42.5%) $235,737 (0.8%) 0.00 176
    2022-10-01 $214,900 (54.7%) $250,850 (10.8%) 0.00 172
    2022-11-01 $203,450 (45.4%) $259,752 (1.8%) 0.00 171
    2022-12-01 $200,000 (63.3%) $261,998 (29.5%) 0.00 171
    2023-01-01 $219,950 (76.0%) $265,471 (26.5%) 0.00 144
    2023-02-01 $220,888 (62.8%) $263,829 (26.6%) 0.00 144
    2023-03-01 $211,225 (62.5%) $260,380 (4.3%) 0.00 144
    2023-04-01 $218,900 (68.5%) $278,152 (24.9%) 0.00 138
    2023-05-01 $217,475 (56.9%) $285,374 (26.0%) 0.00 141
    2023-06-01 $229,950 (64.3%) $291,931 (27.5%) 0.00 155
    2023-07-01 $244,950 (54.1%) $289,079 (17.3%) 0.00 173
    2023-08-01 $254,000 (45.4%) $298,922 (22.2%) 0.00 176
    2023-09-01 $238,500 (29.3%) $289,994 (23.0%) 0.00 183
    2023-10-01 $230,000 (7.0%) $289,726 (15.5%) 0.00 189
    2023-11-01 $235,750 (15.9%) $307,828 (18.5%) 0.00 189
    2023-12-01 $250,000 (25.0%) $302,644 (15.5%) 0.00 177
    2024-01-01 $269,950 (22.7%) $300,720 (13.3%) 0.00 168
    2024-02-01 $279,750 (26.7%) $300,044 (13.7%) 0.00 172
    2024-03-01 $275,000 (30.2%) $310,302 (19.2%) 0.00 168
    2024-04-01 $254,900 (16.5%) $307,308 (10.5%) 0.00 173
    2024-05-01 $271,950 (25.1%) $314,449 (10.2%) 0.00 182
    2024-06-01 $269,450 (17.2%) $320,062 (9.6%) 0.00 206
    2024-07-01 $266,750 (8.9%) $322,288 (11.5%) 0.00 220
    2024-08-01 $239,950 (-5.5%) $308,622 (3.3%) 0.00 240
    2024-09-01 $254,450 (6.7%) $318,696 (9.9%) 0.00 242
    2024-10-01 $249,900 (8.7%) $328,564 (13.4%) 0.00 251
    2024-11-01 $239,950 (1.8%) $323,117 (5.0%) 0.00 250
    2024-12-01 $249,950 (0.0%) $323,823 (7.0%) 0.00 239
    2025-01-01 $249,950 (-7.4%) $321,115 (6.8%) 0.00 225
    Paducah's median listing price for 2025-01-01 was $249,950, a difference of $-20,000 (-7.4%) versus the prior year and $0 versus the prior month.

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

    Paducah's average listing price for 2025-01-01 was $321,115, a difference of $20,395 (6.8%) versus the prior year and $-2,708 versus the prior month.

    For the 2025-01-01 period, Paducah had 225 MLS listings, a difference of -14 listings (-6%) versus the prior month and 57 listings (34%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Paducah (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,770 sqft
    2018-02-01 0 days 1,710 sqft
    2018-03-01 0 days 1,777 sqft
    2018-04-01 0 days 1,793 sqft
    2018-05-01 0 days 1,798 sqft
    2018-06-01 0 days 1,800 sqft
    2018-07-01 0 days 1,799 sqft
    2018-08-01 0 days 1,795 sqft
    2018-09-01 0 days 1,776 sqft
    2018-10-01 0 days 1,753 sqft
    2018-11-01 0 days 1,755 sqft
    2018-12-01 0 days 1,823 sqft
    2019-01-01 0 days 1,824 sqft
    2019-02-01 0 days 1,794 sqft
    2019-03-01 0 days 1,776 sqft
    2019-04-01 0 days 1,733 sqft
    2019-05-01 0 days 1,721 sqft
    2019-06-01 0 days 1,736 sqft
    2019-07-01 0 days 1,713 sqft
    2019-08-01 0 days 1,748 sqft
    2019-09-01 0 days 1,775 sqft
    2019-10-01 0 days 1,798 sqft
    2019-11-01 0 days 1,800 sqft
    2019-12-01 0 days 1,899 sqft
    2020-01-01 0 days 1,766 sqft
    2020-02-01 0 days 1,733 sqft
    2020-03-01 0 days 1,803 sqft
    2020-04-01 0 days 1,812 sqft
    2020-05-01 0 days 1,832 sqft
    2020-06-01 0 days 1,836 sqft
    2020-07-01 0 days 1,872 sqft
    2020-08-01 0 days 1,793 sqft
    2020-09-01 0 days 1,700 sqft
    2020-10-01 0 days 1,696 sqft
    2020-11-01 0 days 1,696 sqft
    2020-12-01 0 days 1,735 sqft
    2021-01-01 0 days 1,787 sqft
    2021-02-01 0 days 1,742 sqft
    2021-03-01 0 days 1,685 sqft
    2021-04-01 0 days 1,763 sqft
    2021-05-01 0 days 1,696 sqft
    2021-06-01 0 days 1,608 sqft
    2021-07-01 0 days 1,696 sqft
    2021-08-01 0 days 1,782 sqft
    2021-09-01 0 days 1,633 sqft
    2021-10-01 0 days 1,603 sqft
    2021-11-01 0 days 1,556 sqft
    2021-12-01 0 days 1,452 sqft
    2022-01-01 0 days 1,500 sqft
    2022-02-01 0 days 1,372 sqft
    2022-03-01 0 days 1,404 sqft
    2022-04-01 0 days 1,480 sqft
    2022-05-01 0 days 1,458 sqft
    2022-06-01 0 days 1,488 sqft
    2022-07-01 0 days 1,580 sqft
    2022-08-01 0 days 1,581 sqft
    2022-09-01 0 days 1,596 sqft
    2022-10-01 0 days 1,719 sqft
    2022-11-01 0 days 1,748 sqft
    2022-12-01 0 days 1,795 sqft
    2023-01-01 0 days 1,821 sqft
    2023-02-01 0 days 1,740 sqft
    2023-03-01 0 days 1,769 sqft
    2023-04-01 0 days 1,728 sqft
    2023-05-01 0 days 1,730 sqft
    2023-06-01 0 days 1,771 sqft
    2023-07-01 0 days 1,812 sqft
    2023-08-01 0 days 1,863 sqft
    2023-09-01 0 days 1,835 sqft
    2023-10-01 0 days 1,837 sqft
    2023-11-01 0 days 1,912 sqft
    2023-12-01 0 days 1,873 sqft
    2024-01-01 0 days 1,953 sqft
    2024-02-01 0 days 1,934 sqft
    2024-03-01 0 days 1,974 sqft
    2024-04-01 0 days 1,808 sqft
    2024-05-01 0 days 1,982 sqft
    2024-06-01 0 days 1,920 sqft
    2024-07-01 0 days 1,981 sqft
    2024-08-01 0 days 1,900 sqft
    2024-09-01 0 days 1,978 sqft
    2024-10-01 0 days 1,912 sqft
    2024-11-01 0 days 1,805 sqft
    2024-12-01 0 days 1,849 sqft
    2025-01-01 0 days 1,845 sqft
    Paducah's median listing age (time on market) for 2025-01-01 was 0 days.

    Paducah's median square footage for active listings during the 2025-01-01 period was 1,845 sqft. One year prior, the average listing was 1,953 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).