Frankfort USDA Loan Rates, Closing Costs & Stats

Frankfort, KY

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

    Frankfort's 38 lenders originated 87 USDA loans during 2021. The total origination value was $14,685,000, with an average USDA loan value of $168,793.

    Frankfort USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Frankfort averaged 6.36% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

    Frankfort's average USDA mortgage closing costs are $4,547.

    The average rate for the prior week (2022-11-25) was 6.6% and one month ago for the week of 2022-10-28, the average rate was 7.07%.

    The average rate one year ago was 3.36%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.17%.

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

    Frankfort USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Frankfort level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    STOCKTON MORTGAGE CORPORATION 25 3.17% $4,900
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 2.98% $4,954
    Magnolia Bank 4 2.84% $4,789
    Citizens Union Bank of Shelbyville 3 2.83% $4,663
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 3.33% $2,214
    Bank of England 3 2.83% $6,541
    FINANCE OF AMERICA MORTGAGE LLC 3 3.25% $4,429
    First Financial Bank 3 2.83% $5,317
    Republic State Mortgage Co. 2 3.25% $4,611
    Northpointe Bank 2 2.94% $4,569
    AMERIFIRST FINANCIAL CORPORATION 2 2.50% $6,944
    MUTUAL OF OMAHA MORTGAGE, INC. 2 3.00% $5,504
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.06% $5,855
    MORTGAGE SUPPLIERS, INC. 2 3.06% $4,880
    Kentucky Bank 1 2.25% $4,531
    LOANDEPOT.COM, LLC 1 2.88% $4,459
    MOVEMENT MORTGAGE, LLC 1 2.88% $5,045
    PENNYMAC LOAN SERVICES, LLC 1 3.06% $5,301
    Peoples Exchange Bank 1 2.25% $3,700
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.63% $4,878
    Servion, Inc. 1 2.50% $6,580
    SOUTH CENTRAL BANK, INC. 1 2.75% $5,021
    STEARNS LENDING, LLC 1 4.25% $3,703
    AMERICAN FINANCIAL NETWORK, INC. 1 3.13% $3,444
    SUN WEST MORTGAGE COMPANY, INC. 1 2.75% $4,859
    BAY EQUITY LLC 1 3.13% $5,301
    CALIBER HOME LOANS, INC. 1 3.25% $5,265
    Citizens Bank 1 3.25% $3,725
    CMG MORTGAGE, INC. 1 3.88% $3,796
    Colten Mortgage, LLC 1 2.88% $7,292
    DAS Acquisition Company, LLC 1 3.25% $4,885
    Fifth Third Bank 1 2.75% $6,236
    FIRST COMMUNITY MORTGAGE, INC. 1 2.50% $4,580
    FREEDOM MORTGAGE CORPORATION 1 3.00% $6,181
    GENEVA FINANCIAL, LLC 1 2.63% $4,706
    HANCOCK MORTGAGE PARTNERS, LLC 1 3.38% $6,268
    Hometown Equity Mortgage, LLC 1 3.13% $3,902
    Hometown Lenders, Inc. 1 3.13% $4,376

    The top Frankfort USDA lender as defined by loan originations is STOCKTON MORTGAGE CORPORATION, with 25 USDA loans originated. Their average total fees are $4,900, which is $54 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Frankfort USDA lenders (with over 10 loans originated) are STOCKTON MORTGAGE CORPORATION ($4,900), .

    The lowest rate Frankfort USDA lenders (with over 10 loans originated) are STOCKTON MORTGAGE CORPORATION (3.17%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Frankfort (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 $179,900 (20.6%) $234,071 (18.1%) 0.00 246
    2018-02-01 $175,200 (7.9%) $233,568 (6.0%) 0.00 229
    2018-03-01 $172,450 (6.2%) $230,636 (0.7%) 0.00 222
    2018-04-01 $197,450 (19.7%) $252,258 (7.6%) 0.00 223
    2018-05-01 $209,375 (26.4%) $256,449 (11.2%) 0.00 245
    2018-06-01 $219,000 (27.0%) $262,650 (10.8%) 0.00 251
    2018-07-01 $224,900 (25.0%) $265,752 (10.1%) 0.00 283
    2018-08-01 $224,975 (25.4%) $267,644 (10.0%) 0.00 296
    2018-09-01 $227,500 (27.1%) $269,349 (8.0%) 0.00 285
    2018-10-01 $214,100 (16.1%) $265,416 (7.8%) 0.00 276
    2018-11-01 $195,829 (7.9%) $251,637 (2.4%) 0.00 268
    2018-12-01 $189,900 (4.3%) $246,015 (1.5%) 0.00 256
    2019-01-01 $189,075 (5.1%) $235,776 (0.7%) 0.00 247
    2019-02-01 $190,950 (9.0%) $251,182 (7.5%) 0.00 239
    2019-03-01 $206,943 (20.0%) $265,193 (15.0%) 0.00 224
    2019-04-01 $223,375 (13.1%) $282,163 (11.9%) 0.00 208
    2019-05-01 $219,900 (5.0%) $282,608 (10.2%) 0.00 211
    2019-06-01 $218,000 (-0.5%) $278,600 (6.1%) 0.00 192
    2019-07-01 $193,725 (-13.9%) $262,645 (-1.2%) 0.00 219
    2019-08-01 $198,691 (-11.7%) $261,111 (-2.4%) 0.00 224
    2019-09-01 $205,052 (-9.9%) $262,052 (-2.7%) 0.00 223
    2019-10-01 $209,225 (-2.3%) $262,679 (-1.0%) 0.00 233
    2019-11-01 $218,400 (11.5%) $282,147 (12.1%) 0.00 241
    2019-12-01 $215,900 (13.7%) $287,080 (16.7%) 0.00 236
    2020-01-01 $219,250 (16.0%) $287,263 (21.8%) 0.00 216
    2020-02-01 $226,750 (18.8%) $299,098 (19.1%) 0.00 191
    2020-03-01 $245,236 (18.5%) $305,023 (15.0%) 0.00 174
    2020-04-01 $244,639 (9.5%) $303,086 (7.4%) 0.00 165
    2020-05-01 $259,860 (18.2%) $334,162 (18.2%) 0.00 158
    2020-06-01 $252,000 (15.6%) $357,114 (28.2%) 0.00 131
    2020-07-01 $255,425 (31.9%) $349,922 (33.2%) 0.00 134
    2020-08-01 $242,120 (21.9%) $320,788 (22.9%) 0.00 122
    2020-09-01 $234,650 (14.4%) $317,210 (21.1%) 0.00 117
    2020-10-01 $213,450 (2.0%) $312,062 (18.8%) 0.00 123
    2020-11-01 $215,900 (-1.1%) $298,751 (5.9%) 0.00 127
    2020-12-01 $199,500 (-7.6%) $275,044 (-4.2%) 0.00 126
    2021-01-01 $195,000 (-11.1%) $271,927 (-5.3%) 0.00 113
    2021-02-01 $250,650 (10.5%) $311,071 (4.0%) 0.00 83
    2021-03-01 $252,175 (2.8%) $304,138 (-0.3%) 0.00 74
    2021-04-01 $257,400 (5.2%) $286,813 (-5.4%) 0.00 58
    2021-05-01 $263,970 (1.6%) $298,726 (-10.6%) 0.00 62
    2021-06-01 $229,450 (-9.0%) $285,507 (-20.1%) 0.00 76
    2021-07-01 $240,000 (-6.0%) $285,188 (-18.5%) 0.00 98
    2021-08-01 $234,975 (-3.0%) $267,570 (-16.6%) 0.00 108
    2021-09-01 $240,825 (2.6%) $280,858 (-11.5%) 0.00 124
    2021-10-01 $229,900 (7.7%) $280,683 (-10.1%) 0.00 132
    2021-11-01 $237,500 (10.0%) $273,377 (-8.5%) 0.00 117
    2021-12-01 $229,450 (15.0%) $279,269 (1.5%) 0.00 104
    2022-01-01 $222,500 (14.1%) $270,675 (-0.5%) 0.00 93
    2022-02-01 $228,250 (-8.9%) $272,757 (-12.3%) 0.00 73
    2022-03-01 $266,400 (5.6%) $293,281 (-3.6%) 0.00 61
    2022-04-01 $279,900 (8.7%) $263,289 (-8.2%) 0.00 55
    2022-05-01 $280,725 (6.4%) $290,330 (-2.8%) 0.00 57
    2022-06-01 $279,106 (21.6%) $294,436 (3.1%) 0.00 64
    2022-07-01 $279,000 (16.3%) $318,575 (11.7%) 0.00 87
    2022-08-01 $282,000 (20.0%) $327,579 (22.4%) 0.00 104
    2022-09-01 $296,500 (23.1%) $338,394 (20.5%) 0.00 114
    2022-10-01 $294,700 (28.2%) $343,167 (22.3%) 0.00 134
    2022-11-01 $287,625 (21.1%) $340,287 (24.5%) 0.00 143
    Frankfort's median listing price for 2022-11-01 was $287,625, a difference of $50,125 (21.1%) versus the prior year and $-7,075 versus the prior month.

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

    Frankfort's average listing price for 2022-11-01 was $340,287, a difference of $66,910 (24.5%) versus the prior year and $-2,880 versus the prior month.

    For the 2022-11-01 period, Frankfort had 143 MLS listings, a difference of 9 listings (7%) versus the prior month and 26 listings (22%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Frankfort (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,818 sqft
    2018-02-01 0 days 1,788 sqft
    2018-03-01 0 days 1,765 sqft
    2018-04-01 0 days 1,867 sqft
    2018-05-01 0 days 1,960 sqft
    2018-06-01 0 days 2,022 sqft
    2018-07-01 0 days 2,033 sqft
    2018-08-01 0 days 2,077 sqft
    2018-09-01 0 days 2,041 sqft
    2018-10-01 0 days 1,992 sqft
    2018-11-01 0 days 1,890 sqft
    2018-12-01 0 days 1,859 sqft
    2019-01-01 0 days 1,818 sqft
    2019-02-01 0 days 1,850 sqft
    2019-03-01 0 days 1,926 sqft
    2019-04-01 0 days 2,011 sqft
    2019-05-01 0 days 2,024 sqft
    2019-06-01 0 days 2,024 sqft
    2019-07-01 0 days 1,948 sqft
    2019-08-01 0 days 1,898 sqft
    2019-09-01 0 days 1,877 sqft
    2019-10-01 0 days 1,863 sqft
    2019-11-01 0 days 1,874 sqft
    2019-12-01 0 days 1,883 sqft
    2020-01-01 0 days 1,898 sqft
    2020-02-01 0 days 1,975 sqft
    2020-03-01 0 days 2,014 sqft
    2020-04-01 0 days 2,013 sqft
    2020-05-01 0 days 2,039 sqft
    2020-06-01 0 days 2,037 sqft
    2020-07-01 0 days 2,038 sqft
    2020-08-01 0 days 1,943 sqft
    2020-09-01 0 days 1,829 sqft
    2020-10-01 0 days 1,803 sqft
    2020-11-01 0 days 1,817 sqft
    2020-12-01 0 days 1,722 sqft
    2021-01-01 0 days 1,777 sqft
    2021-02-01 0 days 1,916 sqft
    2021-03-01 0 days 1,868 sqft
    2021-04-01 0 days 1,825 sqft
    2021-05-01 0 days 1,804 sqft
    2021-06-01 0 days 1,777 sqft
    2021-07-01 0 days 1,786 sqft
    2021-08-01 0 days 1,764 sqft
    2021-09-01 0 days 1,763 sqft
    2021-10-01 0 days 1,669 sqft
    2021-11-01 0 days 1,666 sqft
    2021-12-01 0 days 1,690 sqft
    2022-01-01 0 days 1,617 sqft
    2022-02-01 0 days 1,559 sqft
    2022-03-01 0 days 1,733 sqft
    2022-04-01 0 days 1,746 sqft
    2022-05-01 0 days 1,724 sqft
    2022-06-01 0 days 1,743 sqft
    2022-07-01 0 days 1,807 sqft
    2022-08-01 0 days 1,830 sqft
    2022-09-01 0 days 1,923 sqft
    2022-10-01 0 days 1,977 sqft
    2022-11-01 0 days 1,892 sqft
    Frankfort's median listing age (time on market) for 2022-11-01 was 0 days.

    Frankfort's median square footage for active listings during the 2022-11-01 period was 1,892 sqft. One year prior, the average listing was 1,666 sqft.