Louisville/jefferson County USDA Loans

LOUISVILLE/JEFFERSON COUNTY, KY-IN

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.

Louisville/jefferson County's 78 lenders originated 635 USDA loans during 2021. The total origination value was $119,695,000, with an average USDA loan value of $188,496.

Louisville/jefferson County USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Louisville/jefferson County averaged 5.45% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

The average rate for the prior week (2022-05-13) was 5.53% and one month ago for the week of 2022-04-15, the average rate was 4.93%.

The average rate one year ago was 3.37%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.16%.

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

Louisville/jefferson County 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 Louisville/jefferson County level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Magnolia Bank 54 3.04% $4,853
HOME POINT FINANCIAL CORPORATION 42 2.87% $5,113
SUCCESS MORTGAGE PARTNERS, INC. 24 3.34% $5,718
PRIMARY RESIDENTIAL MORTGAGE, INC. 24 3.23% $6,224
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 24 3.15% $5,018
GUARANTY HOME MORTGAGE CORPORATION 23 2.86% $4,004
STOCKTON MORTGAGE CORPORATION 22 2.97% $4,765
Citizens Union Bank of Shelbyville 20 2.60% $4,287
Northpointe Bank 19 2.55% $4,673
INTERLINC MORTGAGE SERVICES, LLC 19 3.24% $3,980
MID AMERICA MORTGAGE, INC. 19 3.18% $2,900
RUOFF MORTGAGE COMPANY, INC. 19 2.95% $3,814
UNION HOME MORTGAGE CORP. 19 2.82% $4,449
THRIVE MORTGAGE, LLC 17 2.84% $4,317
CELEBRITY HOME LOANS, LLC 16 3.02% $4,321
First Savings Bank 14 2.90% $4,460
First Harrison Bank 13 2.81% $3,745
BROKER SOLUTIONS, INC. 13 2.90% $5,205
Commonwealth Bank and Trust Company 11 2.89% $4,001
ENVOY MORTGAGE, LTD 10 3.36% $5,483
STEARNS LENDING, LLC 10 3.11% $4,463
CROSSCOUNTRY MORTGAGE, LLC 9 2.94% $4,886
Paramount Residential Mortgage Group, Inc. 9 2.93% $4,067
UNITED WHOLESALE MORTGAGE, LLC 9 2.85% $5,302
AMERICAN MORTGAGE SERVICE COMPANY 9 2.67% $4,911
EVANSVILLE TEACHERS 9 2.67% $4,407
CMG MORTGAGE, INC. 8 2.80% $4,871
VICTORY MORTGAGE, L.L.C. 8 2.52% $4,950
ARK-LA-TEX FINANCIAL SERVICES, LLC. 8 3.17% $4,096
Flagstar Bank, FSB 8 2.77% $3,754
MOVEMENT MORTGAGE, LLC 8 2.86% $5,189
BAY EQUITY LLC 7 3.00% $5,181
Republic Bank & Trust Company 6 2.83% $4,450
Century Mortgage Company DBA Century Lending Company 6 2.90% $4,833
FBC MORTGAGE, LLC 5 2.88% $4,363
PLAZA HOME MORTGAGE, INC. 5 2.65% $4,557
Prosperity Home Mortgage, LLC 5 2.88% $4,915
Republic State Mortgage Co. 5 3.05% $4,920
Wolfe Financial, Inc 4 2.91% $4,448
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 4 3.03% $5,866
FAIR WAY LENDING LLC 4 2.91% $4,919
EVERETT FINANCIAL, INC. 4 3.31% $3,630
Stock Yards Bank & Trust Company 3 2.63% $3,511
Bank of England 3 3.13% $6,167
DIRECT MORTGAGE LOANS, LLC 3 3.50% $6,333
PULTE MORTGAGE LLC 3 3.08% $3,814
FREEDOM MORTGAGE CORPORATION 3 3.17% $4,384
German American Bank 2 2.50% $4,196
Hometown Lenders, Inc. 2 3.06% $4,574
PENNYMAC LOAN SERVICES, LLC 2 3.19% $5,468
Citizens Bank 2 3.19% $4,143
Sierra Pacific Mortgage Company, Inc. 2 2.63% $5,291
CALIBER HOME LOANS, INC. 2 2.75% $2,081
AMERIFIRST FINANCIAL CORPORATION 2 2.56% $10,208
U.S. Bank 2 3.12% $4,290
POLARIS HOME FUNDING CORP. 1 3.25% $9,763
Colten Mortgage, LLC 1 3.25% $3,294
Wells Fargo Bank 1 3.13% $4,294
DRAPER AND KRAMER MORTGAGE CORP. 1 3.25% $5,656
AMERICAN FINANCIAL NETWORK, INC. 1 3.00% $6,360
MORTGAGE SUPPLIERS, INC. 1 3.63% $4,655
Carrington Mortgage Services, LLC 1 3.38% $4,791
First Financial Bank 1 2.75% $5,593
SOUTH CENTRAL BANK, INC. 1 3.25% $3,958
SOUTHWEST FUNDING, LP 1 3.88% $5,275
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.75% $3,280
Forcht Bank 1 2.75% $5,244
EMM LOANS LLC 1 2.88% $5,378
BAYSHORE MORTGAGE FUNDING, LLC 1 3.63% $6,812
The Federal Savings Bank 1 3.00% $3,882
LOANDEPOT.COM, LLC 1 3.50% $5,739
TRANSCEND 1 2.88% $4,913
PANORAMA MORTGAGE GROUP, LLC 1 4.13% $5,042
COMMONWEALTH 1 3.00% $4,930
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.75% $7,346
PERFORMANCE MORTGAGE LLC 1 3.50% $4,800
AMERICAN FINANCIAL RESOURCES, INC. 1 3.25% $9,763
PNC Bank 1 3.00% $3,063

The top Louisville/jefferson County USDA lender as defined by loan originations is Magnolia Bank, with 54 USDA loans originated. Their average total fees are $4,853, which is $260 lower than the next largest lender, HOME POINT FINANCIAL CORPORATION.

The lowest fee Louisville/jefferson County USDA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($2,900), First Harrison Bank ($3,745), RUOFF MORTGAGE COMPANY, INC. ($3,814), INTERLINC MORTGAGE SERVICES, LLC ($3,980) and Commonwealth Bank and Trust Company ($4,001).

The lowest rate Louisville/jefferson County USDA lenders (with over 10 loans originated) are Northpointe Bank (2.55%), Citizens Union Bank of Shelbyville (2.60%), First Harrison Bank (2.81%), UNION HOME MORTGAGE CORP. (2.82%) and THRIVE MORTGAGE, LLC (2.84%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Louisville/jefferson County (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 $234,950 (22.4%) $310,191 (12.0%) 0.87 3,368
2018-02-01 $243,208 (17.5%) $319,541 (9.0%) 0.88 3,153
2018-03-01 $255,000 (16.0%) $325,931 (7.0%) 0.88 3,139
2018-04-01 $258,950 (12.6%) $325,345 (3.7%) 0.87 3,254
2018-05-01 $267,721 (10.4%) $339,136 (4.1%) 0.89 3,450
2018-06-01 $269,500 (12.3%) $340,805 (5.5%) 0.90 3,695
2018-07-01 $265,400 (10.6%) $340,158 (6.4%) 0.89 3,839
2018-08-01 $264,950 (10.4%) $341,196 (6.0%) 0.89 3,929
2018-09-01 $265,000 (10.5%) $342,332 (8.0%) 0.89 4,106
2018-10-01 $259,900 (11.3%) $336,389 (8.4%) 0.87 4,295
2018-11-01 $255,000 (10.9%) $345,967 (12.7%) 0.86 4,260
2018-12-01 $249,900 (9.1%) $325,612 (7.2%) 0.86 4,001
2019-01-01 $249,900 (6.4%) $323,237 (4.2%) 0.86 3,652
2019-02-01 $261,900 (7.7%) $336,051 (5.2%) 0.88 3,328
2019-03-01 $273,529 (7.3%) $348,537 (6.9%) 0.89 3,240
2019-04-01 $284,950 (10.0%) $364,993 (12.2%) 0.90 3,414
2019-05-01 $289,900 (8.3%) $375,078 (10.6%) 0.89 3,619
2019-06-01 $285,000 (5.8%) $371,943 (9.1%) 0.88 3,775
2019-07-01 $277,200 (4.5%) $358,264 (5.3%) 0.86 4,043
2019-08-01 $268,471 (1.3%) $348,039 (2.0%) 0.84 4,055
2019-09-01 $259,900 (-1.9%) $335,045 (-2.1%) 0.83 3,994
2019-10-01 $252,450 (-2.9%) $326,257 (-3.0%) 0.81 4,204
2019-11-01 $244,900 (-4.0%) $318,002 (-8.1%) 0.79 4,041
2019-12-01 $237,450 (-5.0%) $314,597 (-3.4%) 0.79 3,644
2020-01-01 $239,900 (-4.0%) $315,880 (-2.3%) 0.80 3,311
2020-02-01 $254,900 (-2.7%) $328,105 (-2.4%) 0.82 2,963
2020-03-01 $272,450 (-0.4%) $347,288 (-0.4%) 0.85 2,803
2020-04-01 $275,000 (-3.5%) $349,486 (-4.3%) 0.86 2,852
2020-05-01 $289,700 (-0.1%) $365,989 (-2.4%) 0.88 2,642
2020-06-01 $289,900 (1.7%) $379,421 (2.0%) 0.85 2,298
2020-07-01 $289,900 (4.6%) $382,448 (6.8%) 0.83 2,135
2020-08-01 $284,900 (6.1%) $376,121 (8.1%) 0.81 2,060
2020-09-01 $267,450 (2.9%) $366,925 (9.5%) 0.76 2,115
2020-10-01 $258,000 (2.2%) $366,128 (12.2%) 0.74 2,094
2020-11-01 $244,900 (0.0%) $357,546 (12.4%) 0.70 2,124
2020-12-01 $239,900 (1.0%) $348,831 (10.9%) 0.70 1,992
2021-01-01 $249,000 (3.8%) $350,807 (11.1%) 0.73 1,663
2021-02-01 $259,900 (2.0%) $368,075 (12.2%) 0.75 1,308
2021-03-01 $264,450 (-2.9%) $375,579 (8.2%) 0.74 1,254
2021-04-01 $266,350 (-3.2%) $381,756 (9.2%) 0.72 1,309
2021-05-01 $274,900 (-5.1%) $382,080 (4.4%) 0.72 1,282
2021-06-01 $277,450 (-4.3%) $389,815 (2.7%) 0.72 1,454
2021-07-01 $269,950 (-6.9%) $375,395 (-1.8%) 0.70 1,710
2021-08-01 $264,950 (-7.0%) $365,106 (-2.9%) 0.70 1,932
2021-09-01 $250,000 (-6.5%) $356,130 (-2.9%) 0.66 1,984
2021-10-01 $250,000 (-3.1%) $349,568 (-4.5%) 0.66 2,015
2021-11-01 $249,450 (1.9%) $348,391 (-2.6%) 0.66 1,976
2021-12-01 $252,500 (5.3%) $353,713 (1.4%) 0.67 1,721
2022-01-01 $259,000 (4.0%) $352,620 (0.5%) 0.69 1,479
2022-02-01 $279,900 (7.7%) $372,613 (1.2%) 0.71 1,207
2022-03-01 $289,950 (9.6%) $384,170 (2.3%) 0.72 1,177
2022-04-01 $289,900 (8.8%) $383,805 (0.5%) 0.68 1,227
Louisville/jefferson County's median listing price for 2022-04-01 was $289,900, a difference of $23,550 (8.8%) versus the prior year and $-50 versus the prior month.

Louisville/jefferson County's median listing price comes in at 68% of the national average.

Louisville/jefferson County's average listing price for 2022-04-01 was $383,805, a difference of $2,049 (0.5%) versus the prior year and $-365 versus the prior month.

For the 2022-04-01 period, Louisville/jefferson County had 1,227 MLS listings, a difference of 50 listings (4%) versus the prior month and -82 listings (-6%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Louisville/jefferson County (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 76 days 1,969 sqft
2018-02-01 69 days 1,988 sqft
2018-03-01 47 days 2,039 sqft
2018-04-01 45 days 2,061 sqft
2018-05-01 40 days 2,112 sqft
2018-06-01 40 days 2,147 sqft
2018-07-01 44 days 2,118 sqft
2018-08-01 44 days 2,121 sqft
2018-09-01 47 days 2,109 sqft
2018-10-01 50 days 2,093 sqft
2018-11-01 54 days 2,072 sqft
2018-12-01 64 days 2,045 sqft
2019-01-01 69 days 2,024 sqft
2019-02-01 66 days 2,054 sqft
2019-03-01 55 days 2,105 sqft
2019-04-01 46 days 2,165 sqft
2019-05-01 46 days 2,239 sqft
2019-06-01 46 days 2,200 sqft
2019-07-01 44 days 2,128 sqft
2019-08-01 46 days 2,085 sqft
2019-09-01 46 days 2,043 sqft
2019-10-01 48 days 1,983 sqft
2019-11-01 52 days 1,932 sqft
2019-12-01 65 days 1,846 sqft
2020-01-01 72 days 1,853 sqft
2020-02-01 64 days 1,900 sqft
2020-03-01 51 days 1,962 sqft
2020-04-01 51 days 1,966 sqft
2020-05-01 57 days 1,988 sqft
2020-06-01 46 days 2,006 sqft
2020-07-01 43 days 1,989 sqft
2020-08-01 38 days 1,960 sqft
2020-09-01 35 days 1,883 sqft
2020-10-01 35 days 1,870 sqft
2020-11-01 37 days 1,787 sqft
2020-12-01 42 days 1,735 sqft
2021-01-01 49 days 1,731 sqft
2021-02-01 42 days 1,750 sqft
2021-03-01 34 days 1,778 sqft
2021-04-01 28 days 1,744 sqft
2021-05-01 25 days 1,773 sqft
2021-06-01 23 days 1,812 sqft
2021-07-01 23 days 1,792 sqft
2021-08-01 26 days 1,789 sqft
2021-09-01 30 days 1,763 sqft
2021-10-01 31 days 1,739 sqft
2021-11-01 34 days 1,671 sqft
2021-12-01 41 days 1,657 sqft
2022-01-01 49 days 1,640 sqft
2022-02-01 40 days 1,664 sqft
2022-03-01 30 days 1,672 sqft
2022-04-01 24 days 1,683 sqft
Louisville/jefferson County's median listing age (time on market) for 2022-04-01 was 24 days. This is -14% shorter than the same period one year ago.

Louisville/jefferson County's median square footage for active listings during the 2022-04-01 period was 1,683 sqft. One year prior, the average listing was 1,744 sqft.