Paducah FHA Loan Rates, Closing Costs & Stats
Paducah, KY-IL
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
0.06%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Paducah's average FHA mortgage closing costs are $5,493.
The average rate for the prior week (2024-11-22) was
6.65% and
one month ago for the week of 2024-10-25, the
average rate was 6.33%.
The average rate one year ago was 7.12%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.1%.
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.
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $139,075 (-0.6%) | $174,726 (-7.4%) | 0.00 | 559 |
2018-02-01 | $137,400 (-1.8%) | $172,011 (-9.1%) | 0.00 | 552 |
2018-03-01 | $149,000 (5.0%) | $177,370 (-7.5%) | 0.00 | 572 |
2018-04-01 | $145,700 (-2.2%) | $180,997 (-7.6%) | 0.00 | 582 |
2018-05-01 | $149,900 (0.1%) | $186,747 (-5.6%) | 0.00 | 609 |
2018-06-01 | $145,000 (-3.3%) | $187,946 (-3.1%) | 0.00 | 619 |
2018-07-01 | $139,900 (-7.3%) | $181,926 (-6.6%) | 0.00 | 637 |
2018-08-01 | $138,475 (-7.6%) | $179,265 (-6.1%) | 0.00 | 616 |
2018-09-01 | $135,000 (-8.5%) | $179,000 (-4.2%) | 0.00 | 601 |
2018-10-01 | $137,975 (-8.0%) | $183,246 (-2.5%) | 0.00 | 578 |
2018-11-01 | $139,450 (-0.3%) | $183,514 (1.6%) | 0.00 | 565 |
2018-12-01 | $144,900 (3.6%) | $191,992 (7.8%) | 0.00 | 522 |
2019-01-01 | $144,925 (4.2%) | $193,506 (10.8%) | 0.00 | 506 |
2019-02-01 | $144,950 (5.5%) | $196,582 (14.3%) | 0.00 | 522 |
2019-03-01 | $144,929 (-2.7%) | $197,148 (11.2%) | 0.00 | 549 |
2019-04-01 | $142,450 (-2.2%) | $195,570 (8.1%) | 0.00 | 557 |
2019-05-01 | $145,000 (-3.3%) | $201,464 (7.9%) | 0.00 | 553 |
2019-06-01 | $144,900 (-0.1%) | $203,144 (8.1%) | 0.00 | 573 |
2019-07-01 | $144,900 (3.6%) | $203,214 (11.7%) | 0.00 | 574 |
2019-08-01 | $147,791 (6.7%) | $207,439 (15.7%) | 0.00 | 566 |
2019-09-01 | $148,977 (10.4%) | $209,185 (16.9%) | 0.00 | 552 |
2019-10-01 | $149,900 (8.6%) | $210,367 (14.8%) | 0.00 | 542 |
2019-11-01 | $152,000 (9.0%) | $213,373 (16.3%) | 0.00 | 520 |
2019-12-01 | $154,900 (6.9%) | $217,170 (13.1%) | 0.00 | 479 |
2020-01-01 | $144,825 (-0.1%) | $211,855 (9.5%) | 0.00 | 446 |
2020-02-01 | $139,900 (-3.5%) | $216,302 (10.0%) | 0.00 | 370 |
2020-03-01 | $149,900 (3.4%) | $227,890 (15.6%) | 0.00 | 371 |
2020-04-01 | $149,800 (5.2%) | $230,678 (18.0%) | 0.00 | 351 |
2020-05-01 | $149,900 (3.4%) | $229,128 (13.7%) | 0.00 | 311 |
2020-06-01 | $163,200 (12.6%) | $234,589 (15.5%) | 0.00 | 305 |
2020-07-01 | $169,900 (17.3%) | $234,209 (15.3%) | 0.00 | 305 |
2020-08-01 | $164,440 (11.3%) | $233,403 (12.5%) | 0.00 | 287 |
2020-09-01 | $146,325 (-1.8%) | $220,652 (5.5%) | 0.00 | 273 |
2020-10-01 | $149,900 (0.0%) | $215,811 (2.6%) | 0.00 | 276 |
2020-11-01 | $144,900 (-4.7%) | $215,335 (0.9%) | 0.00 | 247 |
2020-12-01 | $154,900 (0.0%) | $220,234 (1.4%) | 0.00 | 239 |
2021-01-01 | $159,450 (10.1%) | $218,848 (3.3%) | 0.00 | 217 |
2021-02-01 | $146,150 (4.5%) | $220,066 (1.7%) | 0.00 | 197 |
2021-03-01 | $136,598 (-8.9%) | $203,941 (-10.5%) | 0.00 | 166 |
2021-04-01 | $144,700 (-3.4%) | $217,685 (-5.6%) | 0.00 | 150 |
2021-05-01 | $149,900 (0.0%) | $217,145 (-5.2%) | 0.00 | 150 |
2021-06-01 | $137,700 (-15.6%) | $245,225 (4.5%) | 0.00 | 155 |
2021-07-01 | $147,900 (-13.0%) | $263,560 (12.5%) | 0.00 | 154 |
2021-08-01 | $154,200 (-6.2%) | $267,864 (14.8%) | 0.00 | 147 |
2021-09-01 | $134,246 (-8.3%) | $245,732 (11.4%) | 0.00 | 145 |
2021-10-01 | $147,500 (-1.6%) | $236,511 (9.6%) | 0.00 | 144 |
2021-11-01 | $147,069 (1.5%) | $266,666 (23.8%) | 0.00 | 145 |
2021-12-01 | $127,450 (-17.7%) | $210,793 (-4.3%) | 0.00 | 135 |
2022-01-01 | $139,900 (-12.3%) | $221,215 (1.1%) | 0.00 | 124 |
2022-02-01 | $139,900 (-4.3%) | $220,431 (0.2%) | 0.00 | 119 |
2022-03-01 | $139,800 (2.3%) | $261,517 (28.2%) | 0.00 | 141 |
2022-04-01 | $134,695 (-6.9%) | $230,980 (6.1%) | 0.00 | 145 |
2022-05-01 | $139,900 (-6.7%) | $232,572 (7.1%) | 0.00 | 148 |
2022-06-01 | $143,675 (4.3%) | $234,177 (-4.5%) | 0.00 | 158 |
2022-07-01 | $159,500 (7.8%) | $249,432 (-5.4%) | 0.00 | 165 |
2022-08-01 | $177,158 (14.9%) | $247,205 (-7.7%) | 0.00 | 162 |
2022-09-01 | $189,950 (41.5%) | $241,690 (-1.6%) | 0.00 | 167 |
2022-10-01 | $219,950 (49.1%) | $257,187 (8.7%) | 0.00 | 164 |
2022-11-01 | $215,175 (46.3%) | $268,267 (0.6%) | 0.00 | 160 |
2022-12-01 | $210,000 (64.8%) | $268,591 (27.4%) | 0.00 | 160 |
2023-01-01 | $223,163 (59.5%) | $269,911 (22.0%) | 0.00 | 135 |
2023-02-01 | $223,188 (59.5%) | $270,168 (22.6%) | 0.00 | 134 |
2023-03-01 | $218,425 (56.2%) | $270,308 (3.4%) | 0.00 | 135 |
2023-04-01 | $219,900 (63.3%) | $285,337 (23.5%) | 0.00 | 130 |
2023-05-01 | $228,675 (63.5%) | $293,851 (26.4%) | 0.00 | 132 |
2023-06-01 | $241,175 (67.9%) | $299,118 (27.7%) | 0.00 | 147 |
2023-07-01 | $249,900 (56.7%) | $294,951 (18.3%) | 0.00 | 163 |
2023-08-01 | $257,200 (45.2%) | $303,432 (22.8%) | 0.00 | 167 |
2023-09-01 | $238,500 (25.6%) | $294,387 (21.8%) | 0.00 | 175 |
2023-10-01 | $231,675 (5.3%) | $295,405 (14.9%) | 0.00 | 177 |
2023-11-01 | $241,000 (12.0%) | $316,416 (18.0%) | 0.00 | 177 |
2023-12-01 | $264,900 (26.1%) | $307,656 (14.5%) | 0.00 | 167 |
2024-01-01 | $274,950 (23.2%) | $306,569 (13.6%) | 0.00 | 160 |
2024-02-01 | $289,800 (29.9%) | $305,955 (13.3%) | 0.00 | 165 |
2024-03-01 | $280,000 (28.2%) | $321,471 (18.9%) | 0.00 | 160 |
2024-04-01 | $265,950 (20.9%) | $314,020 (10.1%) | 0.00 | 165 |
2024-05-01 | $279,725 (22.3%) | $321,165 (9.3%) | 0.00 | 176 |
2024-06-01 | $277,000 (14.9%) | $328,615 (9.9%) | 0.00 | 198 |
2024-07-01 | $279,450 (11.8%) | $331,158 (12.3%) | 0.00 | 209 |
2024-08-01 | $249,900 (-2.8%) | $309,089 (1.9%) | 0.00 | 229 |
2024-09-01 | $259,450 (8.8%) | $318,255 (8.1%) | 0.00 | 230 |
2024-10-01 | $249,900 (7.9%) | $326,060 (10.4%) | 0.00 | 234 |
Paducah's median listing price comes in at 0% of the national average.
Paducah's average listing price for 2024-10-01 was $326,060, a difference of $30,655 (10.4%) versus the prior year and $7,805 versus the prior month.
For the 2024-10-01 period, Paducah had 234 MLS listings, a difference of 4 listings (2%) versus the prior month and 57 listings (32%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Paducah (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,777 sqft |
2018-02-01 | 0 days | 1,726 sqft |
2018-03-01 | 0 days | 1,782 sqft |
2018-04-01 | 0 days | 1,808 sqft |
2018-05-01 | 0 days | 1,819 sqft |
2018-06-01 | 0 days | 1,808 sqft |
2018-07-01 | 0 days | 1,803 sqft |
2018-08-01 | 0 days | 1,800 sqft |
2018-09-01 | 0 days | 1,790 sqft |
2018-10-01 | 0 days | 1,769 sqft |
2018-11-01 | 0 days | 1,767 sqft |
2018-12-01 | 0 days | 1,800 sqft |
2019-01-01 | 0 days | 1,800 sqft |
2019-02-01 | 0 days | 1,781 sqft |
2019-03-01 | 0 days | 1,774 sqft |
2019-04-01 | 0 days | 1,740 sqft |
2019-05-01 | 0 days | 1,738 sqft |
2019-06-01 | 0 days | 1,757 sqft |
2019-07-01 | 0 days | 1,726 sqft |
2019-08-01 | 0 days | 1,771 sqft |
2019-09-01 | 0 days | 1,794 sqft |
2019-10-01 | 0 days | 1,811 sqft |
2019-11-01 | 0 days | 1,852 sqft |
2019-12-01 | 0 days | 1,921 sqft |
2020-01-01 | 0 days | 1,813 sqft |
2020-02-01 | 0 days | 1,768 sqft |
2020-03-01 | 0 days | 1,895 sqft |
2020-04-01 | 0 days | 1,894 sqft |
2020-05-01 | 0 days | 1,926 sqft |
2020-06-01 | 0 days | 1,915 sqft |
2020-07-01 | 0 days | 1,952 sqft |
2020-08-01 | 0 days | 1,880 sqft |
2020-09-01 | 0 days | 1,752 sqft |
2020-10-01 | 0 days | 1,728 sqft |
2020-11-01 | 0 days | 1,732 sqft |
2020-12-01 | 0 days | 1,775 sqft |
2021-01-01 | 0 days | 1,800 sqft |
2021-02-01 | 0 days | 1,787 sqft |
2021-03-01 | 0 days | 1,712 sqft |
2021-04-01 | 0 days | 1,788 sqft |
2021-05-01 | 0 days | 1,708 sqft |
2021-06-01 | 0 days | 1,625 sqft |
2021-07-01 | 0 days | 1,696 sqft |
2021-08-01 | 0 days | 1,803 sqft |
2021-09-01 | 0 days | 1,674 sqft |
2021-10-01 | 0 days | 1,667 sqft |
2021-11-01 | 0 days | 1,588 sqft |
2021-12-01 | 0 days | 1,457 sqft |
2022-01-01 | 0 days | 1,500 sqft |
2022-02-01 | 0 days | 1,398 sqft |
2022-03-01 | 0 days | 1,439 sqft |
2022-04-01 | 0 days | 1,480 sqft |
2022-05-01 | 0 days | 1,462 sqft |
2022-06-01 | 0 days | 1,488 sqft |
2022-07-01 | 0 days | 1,603 sqft |
2022-08-01 | 0 days | 1,601 sqft |
2022-09-01 | 0 days | 1,603 sqft |
2022-10-01 | 0 days | 1,727 sqft |
2022-11-01 | 0 days | 1,785 sqft |
2022-12-01 | 0 days | 1,834 sqft |
2023-01-01 | 0 days | 1,821 sqft |
2023-02-01 | 0 days | 1,750 sqft |
2023-03-01 | 0 days | 1,800 sqft |
2023-04-01 | 0 days | 1,762 sqft |
2023-05-01 | 0 days | 1,738 sqft |
2023-06-01 | 0 days | 1,822 sqft |
2023-07-01 | 0 days | 1,835 sqft |
2023-08-01 | 0 days | 1,869 sqft |
2023-09-01 | 0 days | 1,854 sqft |
2023-10-01 | 0 days | 1,859 sqft |
2023-11-01 | 0 days | 1,977 sqft |
2023-12-01 | 0 days | 1,900 sqft |
2024-01-01 | 0 days | 1,957 sqft |
2024-02-01 | 0 days | 1,928 sqft |
2024-03-01 | 0 days | 2,020 sqft |
2024-04-01 | 0 days | 1,873 sqft |
2024-05-01 | 0 days | 1,997 sqft |
2024-06-01 | 0 days | 1,947 sqft |
2024-07-01 | 0 days | 1,985 sqft |
2024-08-01 | 0 days | 1,905 sqft |
2024-09-01 | 0 days | 1,976 sqft |
2024-10-01 | 0 days | 1,896 sqft |
Paducah's median square footage for active listings during the 2024-10-01 period was 1,896 sqft. One year prior, the average listing was 1,859 sqft.