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%.

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

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. Louis
Date 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 for 2024-10-01 was $251,000, a difference of $7,350 (3.0%) versus the prior year and $1,000 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2024-10-01 was 0 days.

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.