London USDA Loan Rates, Closing Costs & Stats
London, 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.
London's 20 lenders originated 88 USDA loans during 2023. The total origination value was $14,490,000, with an average USDA loan value of $164,659.
London USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in London
averaged
0.25%
for the week of 2024-11-29, compared to the national average (all USDA variants) of
0% for the same period.
London's average USDA mortgage closing costs are $4,781.
The average rate for the prior week (2024-11-22) was
6.35% and
one month ago for the week of 2024-10-25, the
average rate was 6.45%.
The average rate one year ago was 7.15%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.1%.
London 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 London level.
Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
POLARIS HOME FUNDING CORP. | 17 | 6.57% | $7,294 |
UNITED WHOLESALE MORTGAGE, LLC | 17 | 6.44% | $6,103 |
Paramount Residential Mortgage Group, Inc. | 13 | 6.87% | $4,509 |
ARK-LA-TEX FINANCIAL SERVICES, LLC. | 8 | 6.84% | $4,874 |
TOP FLITE FINANCIAL, INC. | 4 | 6.03% | $7,559 |
STOCKTON MORTGAGE CORPORATION | 4 | 6.69% | $6,018 |
NEWREZ LLC | 3 | 6.50% | $7,839 |
PLAZA HOME MORTGAGE, INC. | 2 | 6.50% | $4,673 |
GoPrime Mortgage, Inc. | 2 | 6.44% | $2,848 |
Mortgage Research Center, LLC | 2 | 6.75% | $2,173 |
Republic State Mortgage Co. | 2 | 6.13% | $7,490 |
Truist | 2 | 5.69% | $6,647 |
RAPID MORTGAGE COMPANY | 1 | 6.13% | $3,998 |
Renasant Bank | 1 | 7.13% | $6,064 |
CARDINAL FINANCIAL | 1 | 5.75% | $11,807 |
Sierra Pacific Mortgage Company, Inc. | 1 | 6.13% | $3,179 |
EVERETT FINANCIAL, INC. | 1 | 7.13% | $3,595 |
Carrington Mortgage Services, LLC | 1 | 6.63% | $7,040 |
AMERICAN FINANCIAL RESOURCES, INC. | 1 | 6.63% | $3,940 |
GENEVA FINANCIAL, LLC | 1 | 6.63% | $6,607 |
The top London USDA lender as defined by loan originations is POLARIS HOME FUNDING CORP., with
17 USDA loans originated. Their average total fees are
$7,294, which is $1,191
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee London USDA lenders (with over 10 loans originated) are
Paramount Residential Mortgage Group, Inc. ($4,509), UNITED WHOLESALE MORTGAGE, LLC ($6,103), POLARIS HOME FUNDING CORP. ($7,294), .
The lowest rate London USDA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (6.44%), POLARIS HOME FUNDING CORP. (6.57%), Paramount Residential Mortgage Group, Inc. (6.87%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - London (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $148,950 (6.5%) | $186,648 (-0.9%) | 0.00 | 363 |
2018-02-01 | $146,475 (4.7%) | $189,005 (0.1%) | 0.00 | 358 |
2018-03-01 | $154,900 (8.6%) | $195,891 (1.1%) | 0.00 | 350 |
2018-04-01 | $159,000 (10.3%) | $197,336 (-1.6%) | 0.00 | 348 |
2018-05-01 | $159,250 (6.3%) | $204,221 (1.4%) | 0.00 | 359 |
2018-06-01 | $159,900 (6.6%) | $206,199 (-1.3%) | 0.00 | 377 |
2018-07-01 | $159,925 (4.5%) | $206,451 (1.1%) | 0.00 | 382 |
2018-08-01 | $162,450 (8.4%) | $205,031 (4.2%) | 0.00 | 373 |
2018-09-01 | $159,900 (6.7%) | $200,526 (1.0%) | 0.00 | 375 |
2018-10-01 | $159,900 (6.6%) | $198,519 (1.7%) | 0.00 | 382 |
2018-11-01 | $159,900 (6.6%) | $194,745 (0.5%) | 0.00 | 381 |
2018-12-01 | $159,900 (6.7%) | $191,435 (-0.8%) | 0.00 | 341 |
2019-01-01 | $161,975 (8.7%) | $192,305 (3.0%) | 0.00 | 314 |
2019-02-01 | $164,925 (12.6%) | $195,312 (3.3%) | 0.00 | 319 |
2019-03-01 | $168,214 (8.6%) | $199,804 (2.0%) | 0.00 | 312 |
2019-04-01 | $168,464 (6.0%) | $201,271 (2.0%) | 0.00 | 307 |
2019-05-01 | $169,950 (6.7%) | $203,727 (-0.2%) | 0.00 | 306 |
2019-06-01 | $169,900 (6.3%) | $207,714 (0.7%) | 0.00 | 327 |
2019-07-01 | $169,450 (6.0%) | $203,017 (-1.7%) | 0.00 | 344 |
2019-08-01 | $169,900 (4.6%) | $202,133 (-1.4%) | 0.00 | 336 |
2019-09-01 | $169,900 (6.3%) | $199,216 (-0.7%) | 0.00 | 339 |
2019-10-01 | $169,900 (6.3%) | $198,019 (-0.3%) | 0.00 | 339 |
2019-11-01 | $169,900 (6.3%) | $201,897 (3.7%) | 0.00 | 327 |
2019-12-01 | $169,900 (6.3%) | $200,420 (4.7%) | 0.00 | 312 |
2020-01-01 | $166,600 (2.9%) | $200,222 (4.1%) | 0.00 | 283 |
2020-02-01 | $169,000 (2.5%) | $208,508 (6.8%) | 0.00 | 261 |
2020-03-01 | $170,900 (1.6%) | $211,566 (5.9%) | 0.00 | 227 |
2020-04-01 | $172,400 (2.3%) | $210,376 (4.5%) | 0.00 | 217 |
2020-05-01 | $189,900 (11.7%) | $225,155 (10.5%) | 0.00 | 193 |
2020-06-01 | $199,450 (17.4%) | $231,790 (11.6%) | 0.00 | 182 |
2020-07-01 | $202,475 (19.5%) | $237,344 (16.9%) | 0.00 | 173 |
2020-08-01 | $200,000 (17.7%) | $237,585 (17.5%) | 0.00 | 175 |
2020-09-01 | $199,900 (17.7%) | $238,228 (19.6%) | 0.00 | 178 |
2020-10-01 | $189,900 (11.8%) | $227,376 (14.8%) | 0.00 | 171 |
2020-11-01 | $189,900 (11.8%) | $225,011 (11.5%) | 0.00 | 154 |
2020-12-01 | $186,825 (10.0%) | $223,679 (11.6%) | 0.00 | 143 |
2021-01-01 | $179,500 (7.7%) | $219,988 (9.9%) | 0.00 | 123 |
2021-02-01 | $181,825 (7.6%) | $221,433 (6.2%) | 0.00 | 102 |
2021-03-01 | $184,000 (7.7%) | $221,169 (4.5%) | 0.00 | 103 |
2021-04-01 | $187,325 (8.7%) | $243,392 (15.7%) | 0.00 | 92 |
2021-05-01 | $199,000 (4.8%) | $245,392 (9.0%) | 0.00 | 104 |
2021-06-01 | $209,900 (5.2%) | $262,573 (13.3%) | 0.00 | 130 |
2021-07-01 | $209,000 (3.2%) | $264,802 (11.6%) | 0.00 | 145 |
2021-08-01 | $214,950 (7.5%) | $267,264 (12.5%) | 0.00 | 161 |
2021-09-01 | $224,675 (12.4%) | $273,409 (14.8%) | 0.00 | 169 |
2021-10-01 | $229,450 (20.8%) | $287,946 (26.6%) | 0.00 | 164 |
2021-11-01 | $237,500 (25.1%) | $298,392 (32.6%) | 0.00 | 155 |
2021-12-01 | $227,000 (21.5%) | $277,516 (24.1%) | 0.00 | 137 |
2022-01-01 | $225,000 (25.4%) | $269,191 (22.4%) | 0.00 | 122 |
2022-02-01 | $217,000 (19.4%) | $260,859 (17.8%) | 0.00 | 115 |
2022-03-01 | $225,875 (22.8%) | $257,331 (16.4%) | 0.00 | 103 |
2022-04-01 | $234,900 (25.4%) | $274,760 (12.9%) | 0.00 | 127 |
2022-05-01 | $237,475 (19.3%) | $289,352 (17.9%) | 0.00 | 187 |
2022-06-01 | $249,450 (18.8%) | $285,418 (8.7%) | 0.00 | 205 |
2022-07-01 | $259,000 (23.9%) | $284,865 (7.6%) | 0.00 | 235 |
2022-08-01 | $249,950 (16.3%) | $284,922 (6.6%) | 0.00 | 250 |
2022-09-01 | $250,975 (11.7%) | $288,277 (5.4%) | 0.00 | 238 |
2022-10-01 | $249,450 (8.7%) | $283,806 (-1.4%) | 0.00 | 248 |
2022-11-01 | $249,900 (5.2%) | $277,634 (-7.0%) | 0.00 | 248 |
2022-12-01 | $239,900 (5.7%) | $270,666 (-2.5%) | 0.00 | 220 |
2023-01-01 | $245,000 (8.9%) | $285,498 (6.1%) | 0.00 | 203 |
2023-02-01 | $246,225 (13.5%) | $295,729 (13.4%) | 0.00 | 192 |
2023-03-01 | $242,450 (7.3%) | $298,623 (16.1%) | 0.00 | 195 |
2023-04-01 | $240,000 (2.2%) | $302,997 (10.3%) | 0.00 | 198 |
2023-05-01 | $238,225 (0.3%) | $302,398 (4.5%) | 0.00 | 204 |
2023-06-01 | $247,750 (-0.7%) | $310,325 (8.7%) | 0.00 | 205 |
2023-07-01 | $240,000 (-7.3%) | $310,642 (9.1%) | 0.00 | 213 |
2023-08-01 | $249,900 (0.0%) | $318,542 (11.8%) | 0.00 | 223 |
2023-09-01 | $239,900 (-4.4%) | $302,072 (4.8%) | 0.00 | 227 |
2023-10-01 | $243,650 (-2.3%) | $299,898 (5.7%) | 0.00 | 227 |
2023-11-01 | $249,925 (0.0%) | $304,908 (9.8%) | 0.00 | 229 |
2023-12-01 | $249,000 (3.8%) | $307,459 (13.6%) | 0.00 | 233 |
2024-01-01 | $239,900 (-2.1%) | $288,359 (1.0%) | 0.00 | 228 |
2024-02-01 | $246,750 (0.2%) | $290,063 (-1.9%) | 0.00 | 226 |
2024-03-01 | $244,900 (1.0%) | $293,623 (-1.7%) | 0.00 | 247 |
2024-04-01 | $239,950 (0.0%) | $302,525 (-0.2%) | 0.00 | 239 |
2024-05-01 | $244,925 (2.8%) | $320,749 (6.1%) | 0.00 | 224 |
2024-06-01 | $249,950 (0.9%) | $312,156 (0.6%) | 0.00 | 234 |
2024-07-01 | $253,725 (5.7%) | $307,561 (-1.0%) | 0.00 | 258 |
2024-08-01 | $250,000 (0.0%) | $294,143 (-7.7%) | 0.00 | 261 |
2024-09-01 | $250,000 (4.2%) | $292,867 (-3.1%) | 0.00 | 274 |
2024-10-01 | $251,000 (3.0%) | $304,069 (1.4%) | 0.00 | 277 |
London's median listing price comes in at 0% of the national average.
London's average listing price for 2024-10-01 was $304,069, a difference of $4,171 (1.4%) versus the prior year and $11,202 versus the prior month.
For the 2024-10-01 period, London had 277 MLS listings, a difference of 3 listings (1%) versus the prior month and 50 listings (22%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - London (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,785 sqft |
2018-02-01 | 0 days | 1,743 sqft |
2018-03-01 | 0 days | 1,794 sqft |
2018-04-01 | 0 days | 1,799 sqft |
2018-05-01 | 0 days | 1,800 sqft |
2018-06-01 | 0 days | 1,800 sqft |
2018-07-01 | 0 days | 1,879 sqft |
2018-08-01 | 0 days | 1,926 sqft |
2018-09-01 | 0 days | 1,900 sqft |
2018-10-01 | 0 days | 1,855 sqft |
2018-11-01 | 0 days | 1,850 sqft |
2018-12-01 | 0 days | 1,823 sqft |
2019-01-01 | 0 days | 1,845 sqft |
2019-02-01 | 0 days | 1,866 sqft |
2019-03-01 | 0 days | 1,844 sqft |
2019-04-01 | 0 days | 1,858 sqft |
2019-05-01 | 0 days | 1,898 sqft |
2019-06-01 | 0 days | 1,900 sqft |
2019-07-01 | 0 days | 1,838 sqft |
2019-08-01 | 0 days | 1,858 sqft |
2019-09-01 | 0 days | 1,843 sqft |
2019-10-01 | 0 days | 1,861 sqft |
2019-11-01 | 0 days | 1,849 sqft |
2019-12-01 | 0 days | 1,900 sqft |
2020-01-01 | 0 days | 1,847 sqft |
2020-02-01 | 0 days | 1,800 sqft |
2020-03-01 | 0 days | 1,871 sqft |
2020-04-01 | 0 days | 1,790 sqft |
2020-05-01 | 0 days | 1,882 sqft |
2020-06-01 | 0 days | 1,962 sqft |
2020-07-01 | 0 days | 2,037 sqft |
2020-08-01 | 0 days | 2,064 sqft |
2020-09-01 | 0 days | 2,058 sqft |
2020-10-01 | 0 days | 1,914 sqft |
2020-11-01 | 0 days | 1,941 sqft |
2020-12-01 | 0 days | 1,849 sqft |
2021-01-01 | 0 days | 1,849 sqft |
2021-02-01 | 0 days | 1,817 sqft |
2021-03-01 | 0 days | 1,752 sqft |
2021-04-01 | 0 days | 1,811 sqft |
2021-05-01 | 0 days | 1,754 sqft |
2021-06-01 | 0 days | 1,834 sqft |
2021-07-01 | 0 days | 1,890 sqft |
2021-08-01 | 0 days | 1,930 sqft |
2021-09-01 | 0 days | 1,910 sqft |
2021-10-01 | 0 days | 1,947 sqft |
2021-11-01 | 0 days | 1,945 sqft |
2021-12-01 | 0 days | 1,769 sqft |
2022-01-01 | 0 days | 1,695 sqft |
2022-02-01 | 0 days | 1,685 sqft |
2022-03-01 | 0 days | 1,685 sqft |
2022-04-01 | 0 days | 1,728 sqft |
2022-05-01 | 0 days | 1,755 sqft |
2022-06-01 | 0 days | 1,795 sqft |
2022-07-01 | 0 days | 1,814 sqft |
2022-08-01 | 0 days | 1,844 sqft |
2022-09-01 | 0 days | 1,880 sqft |
2022-10-01 | 0 days | 1,890 sqft |
2022-11-01 | 0 days | 1,816 sqft |
2022-12-01 | 0 days | 1,750 sqft |
2023-01-01 | 0 days | 1,744 sqft |
2023-02-01 | 0 days | 1,700 sqft |
2023-03-01 | 0 days | 1,728 sqft |
2023-04-01 | 0 days | 1,789 sqft |
2023-05-01 | 0 days | 1,763 sqft |
2023-06-01 | 0 days | 1,803 sqft |
2023-07-01 | 0 days | 1,792 sqft |
2023-08-01 | 0 days | 1,783 sqft |
2023-09-01 | 0 days | 1,748 sqft |
2023-10-01 | 0 days | 1,767 sqft |
2023-11-01 | 0 days | 1,801 sqft |
2023-12-01 | 0 days | 1,850 sqft |
2024-01-01 | 0 days | 1,781 sqft |
2024-02-01 | 0 days | 1,738 sqft |
2024-03-01 | 0 days | 1,710 sqft |
2024-04-01 | 0 days | 1,689 sqft |
2024-05-01 | 0 days | 1,721 sqft |
2024-06-01 | 0 days | 1,738 sqft |
2024-07-01 | 0 days | 1,746 sqft |
2024-08-01 | 0 days | 1,789 sqft |
2024-09-01 | 0 days | 1,756 sqft |
2024-10-01 | 0 days | 1,775 sqft |
London's median square footage for active listings during the 2024-10-01 period was 1,775 sqft. One year prior, the average listing was 1,767 sqft.