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 18 lenders originated 36 USDA loans during 2023. The total origination value was $8,220,000, with an average USDA loan value of $228,333.
Lexington USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Lexington
averaged
6.12%
for the week of 2024-12-13, compared to the national average (all USDA variants) of
6.303% for the same period.
Lexington's average USDA mortgage closing costs are $4,544.
The average rate for the prior week (2024-12-06) was
6.15% and
one month ago for the week of 2024-11-08, the
average rate was 6.57%.
The average rate one year ago was 6.54%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.34%.
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Bank of England | 5 | 6.45% | $7,967 |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | 5 | 6.60% | $5,109 |
| STOCKTON MORTGAGE CORPORATION | 4 | 6.00% | $9,132 |
| UNION HOME MORTGAGE CORP. | 3 | 6.96% | $7,039 |
| GENEVA FINANCIAL, LLC | 2 | 5.81% | $6,737 |
| Paramount Residential Mortgage Group, Inc. | 2 | 6.38% | $4,182 |
| Peoples Exchange Bank | 2 | 5.88% | $4,509 |
| Central Bank | 2 | 6.13% | $4,624 |
| Fifth Third Bank | 1 | 5.63% | $6,622 |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | 1 | 6.00% | $8,724 |
| Republic State Mortgage Co. | 1 | 6.63% | $7,443 |
| SOUTH CENTRAL BANK, INC. | 1 | 6.50% | $7,333 |
| EVERETT FINANCIAL, INC. | 1 | 7.13% | $4,551 |
| Traditional Bank, Inc. | 1 | 7.00% | $4,989 |
| PNC Bank | 1 | 8.00% | $4,832 |
| Magnolia Bank | 1 | 7.13% | $6,402 |
| MID AMERICA MORTGAGE, INC. | 1 | 6.75% | $2,799 |
| NEWREZ LLC | 1 | 6.25% | $9,570 |
The top Lexington USDA lender as defined by loan originations is Bank of England, with
5 USDA loans originated. Their average total fees are
$7,967, which is $2,858
higher than the next largest lender,
ARK-LA-TEX FINANCIAL SERVICES, LLC..
The lowest fee Lexington USDA lenders (with over 10 loans originated) are
.
The lowest rate Lexington USDA lenders (with over 10 loans originated) are
.
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 |
| 2024-02-01 | $399,425 (0.5%) | $519,278 (4.5%) | 0.96 | 737 |
| 2024-03-01 | $399,900 (0.0%) | $533,785 (5.9%) | 0.94 | 717 |
| 2024-04-01 | $399,900 (0.0%) | $547,674 (7.2%) | 0.93 | 759 |
| 2024-05-01 | $401,950 (-1.8%) | $568,266 (7.2%) | 0.91 | 772 |
| 2024-06-01 | $400,000 (-3.6%) | $555,544 (3.5%) | 0.90 | 878 |
| 2024-07-01 | $399,900 (-2.4%) | $538,365 (2.0%) | 0.91 | 968 |
| 2024-08-01 | $395,000 (-1.2%) | $545,010 (6.9%) | 0.92 | 996 |
| 2024-09-01 | $398,685 (0.4%) | $552,623 (8.9%) | 0.94 | 1,041 |
| 2024-10-01 | $396,305 (-0.3%) | $549,112 (7.7%) | 0.93 | 1,046 |
| 2024-11-01 | $399,000 (1.5%) | $546,402 (7.0%) | 0.96 | 1,158 |
Lexington's median listing price comes in at 96% of the national average.
Lexington's average listing price for 2024-11-01 was $546,402, a difference of $35,867 (7.0%) versus the prior year and $-2,710 versus the prior month.
For the 2024-11-01 period, Lexington had 1,158 MLS listings, a difference of 112 listings (11%) versus the prior month and 169 listings (17%) 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 |
| 2024-02-01 | 73 days | 2,132 sqft |
| 2024-03-01 | 54 days | 2,152 sqft |
| 2024-04-01 | 45 days | 2,152 sqft |
| 2024-05-01 | 37 days | 2,187 sqft |
| 2024-06-01 | 43 days | 2,180 sqft |
| 2024-07-01 | 43 days | 2,148 sqft |
| 2024-08-01 | 49 days | 2,133 sqft |
| 2024-09-01 | 48 days | 2,146 sqft |
| 2024-10-01 | 48 days | 2,137 sqft |
| 2024-11-01 | 51 days | 2,133 sqft |
Lexington's median square footage for active listings during the 2024-11-01 period was 2,133 sqft. One year prior, the average listing was 2,132 sqft.