London USDA Loan Rates, Closing Costs & Stats

London, KY

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    • 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 6.81% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    London's average USDA mortgage closing costs are $4,781.

    The average rate for the prior week (2024-04-12) was 6.77% and one month ago for the week of 2024-03-15, the average rate was 6.75%.

    The average rate one year ago was 6.19%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

    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
    London's median listing price for 2024-03-01 was $244,900, a difference of $2,450 (1.0%) versus the prior year and $-1,850 versus the prior month.

    London's median listing price comes in at 0% of the national average.

    London's average listing price for 2024-03-01 was $293,623, a difference of $-5,000 (-1.7%) versus the prior year and $3,560 versus the prior month.

    For the 2024-03-01 period, London had 247 MLS listings, a difference of 21 listings (9%) versus the prior month and 52 listings (27%) 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
    London's median listing age (time on market) for 2024-03-01 was 0 days.

    London's median square footage for active listings during the 2024-03-01 period was 1,710 sqft. One year prior, the average listing was 1,728 sqft.