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 46 lenders originated 208 FHA loans during 2024. The total origination value was $36,650,000, with an average FHA loan value of $176,202.

Paducah FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Paducah averaged 6.51% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

Paducah's average FHA mortgage closing costs are $5,780.

The average rate for the prior week (2025-03-28) was 6.61% and one month ago for the week of 2025-02-28, the average rate was 6.69%.

The average rate one year ago was 6.61%.

For refis of the same type during the week of 2025-04-04, the average rate was 6.37%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
GERSHMAN INVESTMENT CORP. 31 6.52% $6,630
QUICKEN LOANS, LLC 23 6.41% $8,444
EVERETT FINANCIAL, INC. 22 7.16% $6,181
UNITED WHOLESALE MORTGAGE, LLC 19 6.46% $9,006
LOANDEPOT.COM, LLC 11 6.88% $7,431
STOCKTON MORTGAGE CORPORATION 10 6.35% $7,796
PENNYMAC LOAN SERVICES, LLC 7 6.12% $8,145
Magnolia Bank 5 6.40% $7,411
FREEDOM MORTGAGE CORPORATION 4 6.53% $12,995
U.S. Bank 3 6.08% $7,343
Equity Prime Mortgage LLC 3 6.21% $7,780
RUOFF MORTGAGE COMPANY, INC. 3 6.79% $5,377
UNION HOME MORTGAGE CORP. 3 6.71% $6,177
GUILD MORTGAGE COMPANY 3 6.29% $7,654
ACOPIA, LLC 2 6.63% $10,021
AMERICAN FINANCING CORPORATION 2 5.75% $13,285
AMERISAVE MORTGAGE CORPORATION 2 6.06% $9,378
BROKER SOLUTIONS, INC. 2 6.50% $7,676
Century Mortgage Company DBA Century Lending Company 2 7.25% $8,409
CROSSCOUNTRY MORTGAGE, LLC 2 7.00% $8,530
DAS Acquisition Company, LLC 2 6.81% $12,990
NEWREZ LLC 2 7.00% $6,728
Regions Bank 2 6.00% $6,274
Renasant Bank 2 6.69% $5,968
Mr. Cooper ( Nationstar Mortgage ) 1 7.63% $16,897
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $9,047
MYCUMORTGAGE, LLC 1 6.75% $7,153
CapStar Bank 1 6.75% $8,893
Old National Bank 1 6.13% $11,127
MEMBER FIRST MORTGAGE, LLC 1 6.75% $4,832
PHH Mortgage Corporation 1 5.63% $4,712
Plains Commerce Bank 1 5.75% $13,834
PREMIA MORTGAGE, LLC 1 6.63% $12,215
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.50% $3,208
Prosperity Home Mortgage, LLC 1 7.13% $6,903
LAKEVIEW LOAN SERVICING, LLC 1 6.75% $5,055
VILLAGE CAPITAL MORTGAGE 1 6.75% $4,243
ZILLOW HOME LOANS, LLC 1 6.25% $8,749
ROYAL UNITED MORTGAGE LLC 1 7.63% $6,171
HOMESIDE FINANCIAL, LLC 1 6.87% $10,269
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.50% $6,469
FLAT BRANCH MORTGAGE, INC. 1 7.25% $10,931
Carrington Mortgage Services, LLC 1 6.63% $7,073
MORIA DEVELOPMENT, INC. 1 7.25% $8,747
Mortgage Research Center, LLC 1 6.75% $7,923
MOVEMENT MORTGAGE, LLC 1 6.75% $9,285

The top Paducah FHA lender as defined by loan originations is GERSHMAN INVESTMENT CORP., with 31 FHA loans originated. Their average total fees are $6,630, which is $1,814 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Paducah FHA lenders (with over 10 loans originated) are EVERETT FINANCIAL, INC. ($6,181), GERSHMAN INVESTMENT CORP. ($6,630), LOANDEPOT.COM, LLC ($7,431), STOCKTON MORTGAGE CORPORATION ($7,796) and QUICKEN LOANS, LLC ($8,444).

The lowest rate Paducah FHA lenders (with over 10 loans originated) are STOCKTON MORTGAGE CORPORATION (6.35%), QUICKEN LOANS, LLC (6.41%), UNITED WHOLESALE MORTGAGE, LLC (6.46%), GERSHMAN INVESTMENT CORP. (6.52%) and LOANDEPOT.COM, LLC (6.88%).

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
2025-02-01 $254,950 (-8.9%) $324,565 (8.2%) 0.00 215
2025-03-01 $264,950 (-3.7%) $321,800 (3.7%) 0.00 214
Paducah's median listing price for 2025-03-01 was $264,950, a difference of $-10,050 (-3.7%) versus the prior year and $10,000 versus the prior month.

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

Paducah's average listing price for 2025-03-01 was $321,800, a difference of $11,498 (3.7%) versus the prior year and $-2,765 versus the prior month.

For the 2025-03-01 period, Paducah had 214 MLS listings, a difference of -1 listings (0%) versus the prior month and 46 listings (27%) 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
2025-02-01 0 days 1,907 sqft
2025-03-01 0 days 1,944 sqft
Paducah's median listing age (time on market) for 2025-03-01 was 0 days.

Paducah's median square footage for active listings during the 2025-03-01 period was 1,944 sqft. One year prior, the average listing was 1,974 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).