Lexington USDA Loan Rates, Closing Costs & Stats

LEXINGTON-FAYETTE, KY

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.

Lexington's 39 lenders originated 128 USDA loans during 2022. The total origination value was $24,440,000, with an average USDA loan value of $190,938.

Lexington USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Lexington averaged 6.1% for the week of 2024-03-01, compared to the national average (all USDA variants) of 6.729% for the same period.

Lexington's average USDA mortgage closing costs are $4,490.

The average rate for the prior week (2024-02-23) was 6.25% and one month ago for the week of 2024-01-26, the average rate was 6.01%.

The average rate one year ago was 5.87%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.48%.

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

Lexington 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 Lexington level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
STOCKTON MORTGAGE CORPORATION 23 4.90% $6,039
Peoples Exchange Bank 12 4.07% $4,484
UNION HOME MORTGAGE CORP. 8 4.11% $4,632
Bank of England 8 4.69% $5,657
UNITED WHOLESALE MORTGAGE, LLC 6 5.14% $6,664
GENEVA FINANCIAL, LLC 6 4.02% $5,498
ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 4.40% $4,895
Northpointe Bank 5 4.63% $5,031
Central Bank 5 4.00% $4,546
Republic State Mortgage Co. 4 5.06% $4,938
Prosperity Home Mortgage, LLC 3 3.92% $4,958
MORTGAGE SUPPLIERS, INC. 3 4.75% $4,216
WesBanco 3 4.33% $5,167
Hometown Lenders, Inc. 3 4.54% $6,275
EVERETT FINANCIAL, INC. 2 4.50% $4,376
MOVEMENT MORTGAGE, LLC 2 3.38% $9,208
GoPrime Mortgage, Inc. 2 5.38% $6,917
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 4.44% $7,261
PENNYMAC LOAN SERVICES, LLC 2 3.00% $5,823
GUARANTEED RATE, INC. 2 5.25% $6,039
CALIBER HOME LOANS, INC. 2 4.88% $6,577
LOANDEPOT.COM, LLC 1 4.25% $4,957
Century Mortgage Company DBA Century Lending Company 1 2.75% $4,502
CRESCENT MORTGAGE COMPANY 1 5.88% $4,631
Equity Prime Mortgage LLC 1 3.88% $4,402
Fifth Third Bank 1 5.75% $5,339
Flagstar Bank, FSB 1 4.69% $3,067
FREEDOM MORTGAGE CORPORATION 1 3.75% $7,431
GUARANTY HOME MORTGAGE CORPORATION 1 3.13% $3,782
Guardian Savings Bank, A Federal Savings Bank 1 4.88% $3,724
AMERICAN MORTGAGE SERVICE COMPANY 1 3.25% $6,222
Magnolia Bank 1 3.75% $3,490
MORTGAGE INVESTORS GROUP, INC. 1 3.75% $4,000
NATIONS RELIABLE LENDING, LLC 1 5.50% $8,321
Old National Bank 1 5.75% $7,603
SOUTH CENTRAL BANK, INC. 1 5.00% $4,309
SUN WEST MORTGAGE COMPANY, INC. 1 4.63% $4,794
TOP FLITE FINANCIAL, INC. 1 3.88% $8,487
Truist 1 4.00% $5,331

The top Lexington USDA lender as defined by loan originations is STOCKTON MORTGAGE CORPORATION, with 23 USDA loans originated. Their average total fees are $6,039, which is $1,555 higher than the next largest lender, Peoples Exchange Bank.

The lowest fee Lexington USDA lenders (with over 10 loans originated) are Peoples Exchange Bank ($4,484), STOCKTON MORTGAGE CORPORATION ($6,039), .

The lowest rate Lexington USDA lenders (with over 10 loans originated) are Peoples Exchange Bank (4.07%), STOCKTON MORTGAGE CORPORATION (4.90%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Lexington (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 $269,450 (6.9%) $375,455 (2.1%) 1.00 1,418
2018-02-01 $283,600 (6.0%) $388,429 (1.3%) 1.03 1,328
2018-03-01 $299,000 (5.1%) $407,171 (0.0%) 1.05 1,345
2018-04-01 $309,900 (3.3%) $420,776 (-0.3%) 1.05 1,369
2018-05-01 $314,609 (4.5%) $430,696 (3.6%) 1.05 1,505
2018-06-01 $315,000 (5.4%) $429,781 (5.9%) 1.05 1,570
2018-07-01 $299,950 (3.4%) $418,594 (6.4%) 1.00 1,717
2018-08-01 $289,042 (3.3%) $403,437 (6.3%) 0.97 1,881
2018-09-01 $288,950 (3.2%) $397,200 (4.6%) 0.97 1,908
2018-10-01 $278,937 (-0.3%) $389,178 (2.1%) 0.94 1,955
2018-11-01 $269,175 (-2.5%) $375,432 (0.2%) 0.91 1,892
2018-12-01 $265,000 (-1.8%) $367,138 (-1.3%) 0.91 1,752
2019-01-01 $267,187 (-0.8%) $366,896 (-2.3%) 0.92 1,619
2019-02-01 $283,700 (0.0%) $380,512 (-2.0%) 0.96 1,465
2019-03-01 $293,621 (-1.8%) $391,077 (-4.0%) 0.96 1,475
2019-04-01 $303,973 (-1.9%) $402,543 (-4.3%) 0.97 1,512
2019-05-01 $309,900 (-1.5%) $403,626 (-6.3%) 0.97 1,615
2019-06-01 $309,900 (-1.6%) $398,714 (-7.2%) 0.97 1,662
2019-07-01 $300,000 (0.0%) $392,806 (-6.2%) 0.94 1,774
2019-08-01 $297,245 (2.8%) $398,369 (-1.3%) 0.94 1,793
2019-09-01 $293,114 (1.4%) $409,319 (3.1%) 0.94 1,813
2019-10-01 $290,359 (4.1%) $418,715 (7.6%) 0.94 1,803
2019-11-01 $288,946 (7.3%) $422,514 (12.5%) 0.95 1,675
2019-12-01 $283,450 (7.0%) $422,192 (15.0%) 0.95 1,514
2020-01-01 $291,750 (9.2%) $434,848 (18.5%) 0.97 1,350
2020-02-01 $309,950 (9.3%) $458,635 (20.5%) 1.01 1,270
2020-03-01 $318,735 (8.6%) $414,554 (6.0%) 1.00 1,219
2020-04-01 $316,553 (4.1%) $416,691 (3.5%) 0.99 1,232
2020-05-01 $323,475 (4.4%) $436,068 (8.0%) 0.98 1,166
2020-06-01 $324,900 (4.8%) $467,554 (17.3%) 0.96 1,100
2020-07-01 $325,890 (8.6%) $454,149 (15.6%) 0.94 995
2020-08-01 $329,000 (10.7%) $456,993 (14.7%) 0.94 967
2020-09-01 $327,559 (11.8%) $456,204 (11.5%) 0.94 913
2020-10-01 $326,767 (12.5%) $455,472 (8.8%) 0.94 896
2020-11-01 $321,950 (11.4%) $451,567 (6.9%) 0.94 824
2020-12-01 $319,900 (12.9%) $440,364 (4.3%) 0.95 751
2021-01-01 $324,900 (11.4%) $453,507 (4.3%) 0.97 668
2021-02-01 $329,780 (6.4%) $464,315 (1.2%) 0.96 574
2021-03-01 $328,975 (3.2%) $468,324 (13.0%) 0.93 544
2021-04-01 $331,080 (4.6%) $490,600 (17.7%) 0.90 566
2021-05-01 $344,305 (6.4%) $518,436 (18.9%) 0.91 565
2021-06-01 $328,000 (1.0%) $477,862 (2.2%) 0.86 610
2021-07-01 $315,000 (-3.3%) $462,975 (1.9%) 0.83 658
2021-08-01 $317,450 (-3.5%) $456,489 (-0.1%) 0.85 708
2021-09-01 $314,675 (-3.9%) $457,952 (0.4%) 0.84 723
2021-10-01 $311,900 (-4.6%) $446,520 (-2.0%) 0.83 682
2021-11-01 $317,500 (-1.4%) $467,460 (3.5%) 0.85 606
2021-12-01 $319,500 (-0.1%) $458,145 (4.0%) 0.87 507
2022-01-01 $329,360 (1.4%) $490,040 (8.1%) 0.89 409
2022-02-01 $348,095 (5.6%) $494,651 (6.5%) 0.91 396
2022-03-01 $352,500 (7.2%) $506,204 (8.1%) 0.88 439
2022-04-01 $375,390 (13.4%) $501,017 (2.1%) 0.89 483
2022-05-01 $388,450 (12.8%) $504,976 (-2.6%) 0.89 568
2022-06-01 $394,700 (20.3%) $493,676 (3.3%) 0.88 688
2022-07-01 $399,000 (26.7%) $494,916 (6.9%) 0.90 801
2022-08-01 $383,600 (20.8%) $490,924 (7.5%) 0.89 853
2022-09-01 $386,950 (23.0%) $496,852 (8.5%) 0.90 846
2022-10-01 $386,900 (24.1%) $507,050 (13.6%) 0.91 901
2022-11-01 $374,757 (18.0%) $474,894 (1.6%) 0.90 924
2022-12-01 $369,900 (15.8%) $461,018 (0.6%) 0.91 893
2023-01-01 $387,100 (17.5%) $485,795 (-0.9%) 0.96 769
2023-02-01 $397,450 (14.2%) $496,741 (0.4%) 0.96 720
2023-03-01 $399,900 (13.5%) $504,073 (-0.4%) 0.94 710
2023-04-01 $399,900 (6.5%) $510,750 (1.9%) 0.93 698
2023-05-01 $409,400 (5.4%) $530,166 (5.0%) 0.93 705
2023-06-01 $414,975 (5.1%) $536,676 (8.7%) 0.93 739
2023-07-01 $409,900 (2.7%) $528,081 (6.7%) 0.93 788
2023-08-01 $399,850 (4.2%) $509,960 (3.9%) 0.92 849
2023-09-01 $397,173 (2.6%) $507,596 (2.2%) 0.92 894
2023-10-01 $397,561 (2.8%) $509,706 (0.5%) 0.94 956
2023-11-01 $393,046 (4.9%) $510,535 (7.5%) 0.94 989
2023-12-01 $390,717 (5.6%) $501,915 (8.9%) 0.95 886
2024-01-01 $395,000 (2.0%) $510,918 (5.2%) 0.96 780
Lexington's median listing price for 2024-01-01 was $395,000, a difference of $7,900 (2.0%) versus the prior year and $4,283 versus the prior month.

Lexington's median listing price comes in at 96% of the national average.

Lexington's average listing price for 2024-01-01 was $510,918, a difference of $25,123 (5.2%) versus the prior year and $9,003 versus the prior month.

For the 2024-01-01 period, Lexington had 780 MLS listings, a difference of -106 listings (-12%) versus the prior month and 11 listings (1%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Lexington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 86 days 2,278 sqft
2018-02-01 82 days 2,334 sqft
2018-03-01 57 days 2,376 sqft
2018-04-01 52 days 2,440 sqft
2018-05-01 45 days 2,471 sqft
2018-06-01 46 days 2,474 sqft
2018-07-01 52 days 2,414 sqft
2018-08-01 52 days 2,376 sqft
2018-09-01 56 days 2,366 sqft
2018-10-01 61 days 2,309 sqft
2018-11-01 67 days 2,258 sqft
2018-12-01 75 days 2,180 sqft
2019-01-01 80 days 2,193 sqft
2019-02-01 79 days 2,286 sqft
2019-03-01 66 days 2,320 sqft
2019-04-01 52 days 2,368 sqft
2019-05-01 50 days 2,362 sqft
2019-06-01 51 days 2,377 sqft
2019-07-01 56 days 2,366 sqft
2019-08-01 56 days 2,353 sqft
2019-09-01 59 days 2,305 sqft
2019-10-01 62 days 2,277 sqft
2019-11-01 66 days 2,238 sqft
2019-12-01 77 days 2,187 sqft
2020-01-01 88 days 2,206 sqft
2020-02-01 85 days 2,300 sqft
2020-03-01 65 days 2,308 sqft
2020-04-01 66 days 2,327 sqft
2020-05-01 64 days 2,381 sqft
2020-06-01 58 days 2,381 sqft
2020-07-01 57 days 2,366 sqft
2020-08-01 60 days 2,365 sqft
2020-09-01 72 days 2,346 sqft
2020-10-01 73 days 2,316 sqft
2020-11-01 78 days 2,233 sqft
2020-12-01 72 days 2,104 sqft
2021-01-01 70 days 2,163 sqft
2021-02-01 72 days 2,134 sqft
2021-03-01 54 days 2,149 sqft
2021-04-01 43 days 2,165 sqft
2021-05-01 38 days 2,180 sqft
2021-06-01 43 days 2,089 sqft
2021-07-01 39 days 2,000 sqft
2021-08-01 40 days 2,036 sqft
2021-09-01 44 days 2,006 sqft
2021-10-01 46 days 1,979 sqft
2021-11-01 52 days 1,995 sqft
2021-12-01 59 days 1,980 sqft
2022-01-01 64 days 2,010 sqft
2022-02-01 53 days 2,034 sqft
2022-03-01 41 days 2,085 sqft
2022-04-01 36 days 2,101 sqft
2022-05-01 39 days 2,153 sqft
2022-06-01 37 days 2,200 sqft
2022-07-01 37 days 2,214 sqft
2022-08-01 40 days 2,218 sqft
2022-09-01 46 days 2,230 sqft
2022-10-01 52 days 2,248 sqft
2022-11-01 57 days 2,199 sqft
2022-12-01 68 days 2,168 sqft
2023-01-01 77 days 2,203 sqft
2023-02-01 77 days 2,257 sqft
2023-03-01 61 days 2,276 sqft
2023-04-01 52 days 2,290 sqft
2023-05-01 51 days 2,301 sqft
2023-06-01 50 days 2,287 sqft
2023-07-01 47 days 2,266 sqft
2023-08-01 46 days 2,224 sqft
2023-09-01 45 days 2,200 sqft
2023-10-01 50 days 2,171 sqft
2023-11-01 56 days 2,132 sqft
2023-12-01 67 days 2,115 sqft
2024-01-01 79 days 2,115 sqft
Lexington's median listing age (time on market) for 2024-01-01 was 79 days. This is 3% longer than the same period one year ago.

Lexington's median square footage for active listings during the 2024-01-01 period was 2,115 sqft. One year prior, the average listing was 2,203 sqft.