Lexington USDA Loans

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 70 lenders originated 319 USDA loans during 2021. The total origination value was $61,155,000, with an average USDA loan value of $191,708.

Lexington USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Lexington averaged 5.28% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.42% and one month ago for the week of 2022-04-08, the average rate was 4.88%.

The average rate one year ago was 2.99%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.23%.

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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Lexington level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
STOCKTON MORTGAGE CORPORATION 45 3.19% $5,496
Peoples Exchange Bank 31 2.34% $3,954
ARK-LA-TEX FINANCIAL SERVICES, LLC. 20 3.14% $3,744
Bank of England 14 3.11% $5,633
AMERICAN MORTGAGE SERVICE COMPANY 14 2.63% $5,781
Hometown Lenders, Inc. 13 3.21% $4,833
Sierra Pacific Mortgage Company, Inc. 9 3.00% $5,338
Kentucky Bank 8 2.53% $3,875
GENEVA FINANCIAL, LLC 8 3.00% $4,869
Guardian Savings Bank, A Federal Savings Bank 8 2.44% $3,463
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 3.16% $5,235
LOANDEPOT.COM, LLC 7 3.36% $5,222
Northpointe Bank 7 2.63% $5,342
WesBanco Bank, Inc. 6 2.75% $5,456
Central Bank & Trust Company 5 2.58% $4,193
UNION HOME MORTGAGE CORP. 5 2.58% $3,902
SWBC MORTGAGE CORPORATION 5 3.15% $3,620
Prosperity Home Mortgage, LLC 5 2.65% $4,882
Magnolia Bank 4 3.16% $3,528
Hometown Equity Mortgage, LLC 4 3.16% $4,598
MORTGAGE INVESTORS GROUP, INC. 4 3.09% $3,757
MORTGAGE SUPPLIERS, INC. 4 3.00% $6,606
CALIBER HOME LOANS, INC. 4 2.78% $5,376
Flagstar Bank, FSB 4 2.59% $5,100
Old National Bank 4 2.78% $4,668
Western Ohio Mortgage Corporation 3 2.75% $5,329
Stock Yards Bank & Trust Company 3 2.42% $4,426
Fifth Third Bank 3 2.88% $5,158
MOVEMENT MORTGAGE, LLC 3 3.08% $4,746
Truist Bank 3 3.17% $4,884
Republic Bank & Trust Company 2 2.63% $4,921
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 3.50% $5,174
Carrington Mortgage Services, LLC 2 4.00% $6,096
Century Mortgage Company DBA Century Lending Company 2 2.56% $7,422
CRESCENT MORTGAGE COMPANY 2 2.75% $4,223
CROSSCOUNTRY MORTGAGE, LLC 2 2.31% $5,606
ENVOY MORTGAGE, LTD 2 2.88% $7,570
FBC MORTGAGE, LLC 2 2.81% $5,564
FIRST COMMUNITY MORTGAGE, INC. 2 2.88% $5,493
GoPrime Mortgage, Inc. 2 3.31% $7,492
HAMILTON HOME LOANS, INC. 2 2.94% $5,754
HANCOCK MORTGAGE PARTNERS, LLC 2 2.75% $5,522
HOME POINT FINANCIAL CORPORATION 2 2.38% $5,630
MYCUMORTGAGE, LLC 2 3.06% $6,205
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 2.88% $1,684
BROKER SOLUTIONS, INC. 1 3.13% $5,845
GUARANTY HOME MORTGAGE CORPORATION 1 2.50% $2,767
FREEDOM MORTGAGE CORPORATION 1 2.75% $8,752
PENNYMAC LOAN SERVICES, LLC 1 2.75% $5,979
Forcht Bank 1 2.75% $4,823
AMERIFIRST FINANCIAL CORPORATION 1 3.25% $6,006
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.38% $4,490
First Savings Bank 1 2.88% $4,778
AMERICAN FINANCIAL NETWORK, INC. 1 2.75% $5,628
Republic State Mortgage Co. 1 3.25% $5,357
RUOFF MORTGAGE COMPANY, INC. 1 3.00% $6,408
First Option Mortgage, LLC 1 2.75% $5,424
First Guaranty Mortgage Corporation 1 3.25% $4,215
FINANCE OF AMERICA MORTGAGE LLC 1 3.75% $4,871
SUN WEST MORTGAGE COMPANY, INC. 1 2.88% $4,504
FAIR WAY LENDING LLC 1 2.88% $4,320
TOP FLITE FINANCIAL, INC. 1 2.88% $7,683
TRANSCEND 1 2.88% $5,115
DAS Acquisition Company, LLC 1 3.25% $5,286
Colten Mortgage, LLC 1 2.50% $3,943
Union Savings Bank 1 3.13% $3,411
UNITED WHOLESALE MORTGAGE, LLC 1 2.50% $4,339
U.S. Bank 1 3.50% $5,395
MID AMERICA MORTGAGE, INC. 1 2.88% $1,314
Heartland Bank 1 2.75% $4,092

The top Lexington USDA lender as defined by loan originations is STOCKTON MORTGAGE CORPORATION, with 45 USDA loans originated. Their average total fees are $5,496, which is $1,542 higher than the next largest lender, Peoples Exchange Bank.

The lowest fee Lexington USDA lenders (with over 10 loans originated) are ARK-LA-TEX FINANCIAL SERVICES, LLC. ($3,744), Peoples Exchange Bank ($3,954), Hometown Lenders, Inc. ($4,833), STOCKTON MORTGAGE CORPORATION ($5,496) and Bank of England ($5,633).

The lowest rate Lexington USDA lenders (with over 10 loans originated) are Peoples Exchange Bank (2.34%), AMERICAN MORTGAGE SERVICE COMPANY (2.63%), Bank of England (3.11%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (3.14%) and STOCKTON MORTGAGE CORPORATION (3.19%).


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 (6.8%) $374,696 (1.8%) 0.99 1,417
2018-02-01 $283,600 (5.9%) $387,768 (1.2%) 1.02 1,333
2018-03-01 $299,000 (4.9%) $406,745 (-0.3%) 1.03 1,350
2018-04-01 $309,900 (3.3%) $421,756 (0.1%) 1.04 1,370
2018-05-01 $313,863 (3.0%) $431,430 (3.6%) 1.05 1,510
2018-06-01 $312,825 (4.5%) $428,243 (5.6%) 1.04 1,580
2018-07-01 $299,950 (3.4%) $419,871 (6.7%) 1.00 1,717
2018-08-01 $289,700 (3.7%) $403,642 (6.5%) 0.97 1,882
2018-09-01 $287,750 (2.8%) $398,086 (5.1%) 0.96 1,912
2018-10-01 $279,950 (0.0%) $391,180 (2.7%) 0.94 1,965
2018-11-01 $269,900 (-2.2%) $378,802 (1.1%) 0.90 1,894
2018-12-01 $265,000 (-1.8%) $370,405 (-0.4%) 0.91 1,750
2019-01-01 $267,450 (-0.7%) $372,130 (-0.7%) 0.92 1,615
2019-02-01 $285,000 (0.5%) $385,352 (-0.6%) 0.95 1,466
2019-03-01 $294,228 (-1.6%) $395,602 (-2.7%) 0.96 1,462
2019-04-01 $306,467 (-1.1%) $405,990 (-3.7%) 0.97 1,497
2019-05-01 $311,450 (-0.8%) $408,033 (-5.4%) 0.96 1,592
2019-06-01 $312,500 (-0.1%) $401,569 (-6.2%) 0.96 1,645
2019-07-01 $305,053 (1.7%) $396,333 (-5.6%) 0.95 1,770
2019-08-01 $297,386 (2.7%) $388,974 (-3.6%) 0.94 1,759
2019-09-01 $290,836 (1.1%) $404,304 (1.6%) 0.92 1,747
2019-10-01 $294,053 (5.0%) $420,233 (7.4%) 0.94 1,776
2019-11-01 $289,500 (7.3%) $423,722 (11.9%) 0.93 1,667
2019-12-01 $284,500 (7.4%) $423,624 (14.4%) 0.95 1,507
2020-01-01 $294,608 (10.2%) $436,942 (17.4%) 0.98 1,343
2020-02-01 $310,340 (8.9%) $461,499 (19.8%) 1.00 1,256
2020-03-01 $320,700 (9.0%) $422,187 (6.7%) 1.00 1,198
2020-04-01 $319,750 (4.3%) $424,158 (4.5%) 1.00 1,224
2020-05-01 $329,919 (5.9%) $451,637 (10.7%) 1.00 1,137
2020-06-01 $330,196 (5.7%) $462,207 (15.1%) 0.96 1,066
2020-07-01 $330,196 (8.2%) $461,975 (16.6%) 0.95 969
2020-08-01 $335,000 (12.7%) $467,133 (20.1%) 0.96 942
2020-09-01 $347,630 (19.5%) $488,558 (20.8%) 0.99 896
2020-10-01 $338,839 (15.2%) $487,664 (16.1%) 0.97 885
2020-11-01 $332,925 (15.0%) $484,246 (14.3%) 0.95 805
2020-12-01 $326,950 (14.9%) $456,544 (7.8%) 0.96 738
2021-01-01 $325,640 (10.5%) $456,258 (4.4%) 0.96 665
2021-02-01 $332,450 (7.1%) $470,023 (1.9%) 0.96 557
2021-03-01 $331,900 (3.5%) $474,860 (12.5%) 0.93 525
2021-04-01 $332,735 (4.1%) $494,737 (16.6%) 0.89 548
2021-05-01 $349,000 (5.8%) $526,093 (16.5%) 0.92 540
2021-06-01 $333,905 (1.1%) $482,913 (4.5%) 0.87 587
2021-07-01 $318,633 (-3.5%) $461,133 (-0.2%) 0.83 634
2021-08-01 $319,403 (-4.7%) $458,975 (-1.8%) 0.84 682
2021-09-01 $316,953 (-8.8%) $461,704 (-5.5%) 0.83 708
2021-10-01 $312,400 (-7.8%) $446,908 (-8.4%) 0.82 673
2021-11-01 $318,450 (-4.4%) $469,238 (-3.1%) 0.84 589
2021-12-01 $321,275 (-1.7%) $459,633 (0.7%) 0.86 503
2022-01-01 $334,349 (2.7%) $491,652 (7.8%) 0.89 391
2022-02-01 $350,900 (5.6%) $497,217 (5.8%) 0.89 388
2022-03-01 $359,500 (8.3%) $513,180 (8.1%) 0.89 429
2022-04-01 $385,000 (15.7%) $507,739 (2.6%) 0.91 467
Lexington's median listing price for 2022-04-01 was $385,000, a difference of $52,265 (15.7%) versus the prior year and $25,500 versus the prior month.

Lexington's median listing price comes in at 91% of the national average.

Lexington's average listing price for 2022-04-01 was $507,739, a difference of $13,002 (2.6%) versus the prior year and $-5,441 versus the prior month.

For the 2022-04-01 period, Lexington had 467 MLS listings, a difference of 38 listings (9%) versus the prior month and -81 listings (-15%) 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 90 days 2,284 sqft
2018-02-01 91 days 2,335 sqft
2018-03-01 66 days 2,388 sqft
2018-04-01 57 days 2,454 sqft
2018-05-01 51 days 2,477 sqft
2018-06-01 51 days 2,480 sqft
2018-07-01 58 days 2,422 sqft
2018-08-01 58 days 2,377 sqft
2018-09-01 59 days 2,374 sqft
2018-10-01 66 days 2,323 sqft
2018-11-01 71 days 2,271 sqft
2018-12-01 79 days 2,196 sqft
2019-01-01 86 days 2,218 sqft
2019-02-01 87 days 2,288 sqft
2019-03-01 67 days 2,336 sqft
2019-04-01 57 days 2,390 sqft
2019-05-01 53 days 2,372 sqft
2019-06-01 54 days 2,390 sqft
2019-07-01 58 days 2,383 sqft
2019-08-01 57 days 2,348 sqft
2019-09-01 60 days 2,300 sqft
2019-10-01 64 days 2,272 sqft
2019-11-01 70 days 2,238 sqft
2019-12-01 79 days 2,187 sqft
2020-01-01 91 days 2,206 sqft
2020-02-01 91 days 2,300 sqft
2020-03-01 67 days 2,329 sqft
2020-04-01 65 days 2,346 sqft
2020-05-01 66 days 2,428 sqft
2020-06-01 61 days 2,411 sqft
2020-07-01 58 days 2,385 sqft
2020-08-01 63 days 2,385 sqft
2020-09-01 62 days 2,397 sqft
2020-10-01 60 days 2,359 sqft
2020-11-01 66 days 2,301 sqft
2020-12-01 70 days 2,154 sqft
2021-01-01 77 days 2,163 sqft
2021-02-01 80 days 2,163 sqft
2021-03-01 66 days 2,164 sqft
2021-04-01 53 days 2,185 sqft
2021-05-01 52 days 2,184 sqft
2021-06-01 52 days 2,101 sqft
2021-07-01 47 days 2,000 sqft
2021-08-01 44 days 2,037 sqft
2021-09-01 46 days 2,010 sqft
2021-10-01 51 days 1,984 sqft
2021-11-01 57 days 2,012 sqft
2021-12-01 64 days 1,988 sqft
2022-01-01 70 days 2,010 sqft
2022-02-01 61 days 2,034 sqft
2022-03-01 52 days 2,100 sqft
2022-04-01 43 days 2,152 sqft
Lexington's median listing age (time on market) for 2022-04-01 was 43 days. This is -19% shorter than the same period one year ago.

Lexington's median square footage for active listings during the 2022-04-01 period was 2,152 sqft. One year prior, the average listing was 2,185 sqft.