Louisville USDA Loan Rates, Closing Costs & Stats

LOUISVILLE, 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.

Louisville's 46 lenders originated 171 USDA loans during 2023. The total origination value was $35,545,000, with an average USDA loan value of $207,865.

Louisville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Louisville averaged 6.79% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Louisville's average USDA mortgage closing costs are $4,631.

The average rate for the prior week (2024-04-05) was 6.72% and one month ago for the week of 2024-03-08, the average rate was 6.58%.

The average rate one year ago was 6.29%.

For refis of the same type during the week of 2024-04-12, the average rate was 7.14%.

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

Louisville 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 Louisville level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 21 6.27% $7,425
Century Mortgage Company DBA Century Lending Company 16 6.64% $6,283
Magnolia Bank 14 6.30% $7,973
Northpointe Bank 13 6.38% $6,106
LEADERONE FINANCIAL CORPORATION 10 7.06% $5,411
SUCCESS MORTGAGE PARTNERS, INC. 8 6.89% $8,022
INTERLINC MORTGAGE SERVICES, LLC 7 6.59% $5,043
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 6.73% $7,545
STOCKTON MORTGAGE CORPORATION 5 7.25% $8,959
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.94% $7,232
RUOFF MORTGAGE COMPANY, INC. 4 6.75% $3,835
Stock Yards Bank & Trust Company 4 6.38% $6,415
DIRECT MORTGAGE LOANS, LLC 4 6.38% $8,919
CROSSCOUNTRY MORTGAGE, LLC 3 6.75% $5,539
UNION HOME MORTGAGE CORP. 3 6.71% $10,324
Sierra Pacific Mortgage Company, Inc. 3 7.21% $6,511
German American Bank 2 7.25% $4,982
HOMESIDE FINANCIAL, LLC 2 7.00% $5,961
Plains Commerce Bank 2 5.50% $10,434
CARDINAL FINANCIAL 2 7.19% $7,680
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.38% $6,628
EMM LOANS LLC 2 6.31% $5,615
Traditional Bank, Inc. 2 6.06% $5,689
First Savings Bank 2 6.50% $9,316
Paramount Residential Mortgage Group, Inc. 1 6.13% $7,272
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.50% $5,709
CHURCHILL MORTGAGE CORPORATION 1 6.13% $7,484
Citizens Bank 1 6.13% $8,170
CMG MORTGAGE, INC. 1 7.88% $4,364
FAIR WAY LENDING LLC 1 6.88% $5,893
FBC MORTGAGE, LLC 1 7.25% $5,793
FIRST COMMUNITY MORTGAGE, INC. 1 6.13% $4,412
GUILD MORTGAGE COMPANY 1 7.13% $7,012
GVC MORTGAGE, INC. 1 7.13% $8,826
Meridian Bank Corporation 1 7.13% $7,556
MID AMERICA MORTGAGE, INC. 1 6.13% $2,207
MORTGAGE MASTERS OF INDIANA, INC. 1 6.63% $4,565
NORWICH COMMERCIAL GROUP, INC. 1 7.25% $3,443
AMERICAN FINANCIAL NETWORK, INC. 1 6.88% $2,501
Prosperity Home Mortgage, LLC 1 6.49% $4,726
T2 FINANCIAL LLC 1 6.25% $7,467
THE MORTGAGE WAREHOUSE,LLC 1 6.63% $5,241
U.S. Bank 1 6.75% $5,075
VICTORY MORTGAGE, L.L.C. 1 6.38% $5,937
WesBanco 1 6.38% $5,115
Wolfe Financial, Inc 1 7.75% $6,897

The top Louisville USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 21 USDA loans originated. Their average total fees are $7,425, which is $1,142 higher than the next largest lender, Century Mortgage Company DBA Century Lending Company.

The lowest fee Louisville USDA lenders (with over 10 loans originated) are LEADERONE FINANCIAL CORPORATION ($5,411), Northpointe Bank ($6,106), Century Mortgage Company DBA Century Lending Company ($6,283), UNITED WHOLESALE MORTGAGE, LLC ($7,425) and Magnolia Bank ($7,973).

The lowest rate Louisville USDA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.27%), Magnolia Bank (6.30%), Northpointe Bank (6.38%), Century Mortgage Company DBA Century Lending Company (6.64%) and LEADERONE FINANCIAL CORPORATION (7.06%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Louisville (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 $238,950 (24.2%) $313,727 (12.6%) 0.89 3,141
2018-02-01 $249,450 (17.9%) $324,292 (9.2%) 0.91 2,937
2018-03-01 $259,900 (17.7%) $330,832 (7.6%) 0.91 2,942
2018-04-01 $262,000 (11.5%) $331,340 (4.7%) 0.89 3,033
2018-05-01 $269,900 (8.8%) $343,740 (4.6%) 0.90 3,230
2018-06-01 $271,536 (10.4%) $346,865 (6.3%) 0.91 3,444
2018-07-01 $270,850 (12.9%) $346,139 (7.2%) 0.90 3,551
2018-08-01 $269,900 (9.2%) $346,992 (6.1%) 0.90 3,668
2018-09-01 $269,600 (12.4%) $346,139 (7.5%) 0.91 3,842
2018-10-01 $261,050 (11.0%) $338,921 (7.6%) 0.88 4,025
2018-11-01 $258,000 (10.5%) $339,934 (9.2%) 0.87 3,984
2018-12-01 $249,995 (8.7%) $327,088 (6.5%) 0.86 3,760
2019-01-01 $250,000 (4.6%) $323,752 (3.2%) 0.86 3,447
2019-02-01 $262,675 (5.3%) $335,522 (3.5%) 0.89 3,129
2019-03-01 $277,614 (6.8%) $349,902 (5.8%) 0.91 3,056
2019-04-01 $286,950 (9.5%) $365,953 (10.5%) 0.91 3,237
2019-05-01 $289,900 (7.4%) $374,994 (9.1%) 0.91 3,412
2019-06-01 $286,950 (5.7%) $372,491 (7.4%) 0.90 3,553
2019-07-01 $278,824 (2.9%) $359,435 (3.8%) 0.87 3,790
2019-08-01 $271,185 (0.5%) $351,383 (1.3%) 0.86 3,893
2019-09-01 $264,457 (-1.9%) $340,985 (-1.5%) 0.85 3,925
2019-10-01 $254,612 (-2.5%) $330,626 (-2.5%) 0.82 3,955
2019-11-01 $247,450 (-4.1%) $322,572 (-5.1%) 0.81 3,809
2019-12-01 $239,950 (-4.0%) $317,962 (-2.8%) 0.80 3,398
2020-01-01 $240,950 (-3.6%) $320,086 (-1.1%) 0.81 3,097
2020-02-01 $256,500 (-2.4%) $331,162 (-1.3%) 0.84 2,809
2020-03-01 $274,950 (-1.0%) $351,152 (0.4%) 0.86 2,644
2020-04-01 $279,250 (-2.7%) $354,342 (-3.2%) 0.87 2,692
2020-05-01 $295,000 (1.8%) $370,692 (-1.2%) 0.90 2,495
2020-06-01 $291,450 (1.6%) $380,509 (2.2%) 0.86 2,212
2020-07-01 $293,448 (5.2%) $384,554 (7.0%) 0.85 2,059
2020-08-01 $288,500 (6.4%) $377,652 (7.5%) 0.83 1,968
2020-09-01 $272,400 (3.0%) $369,410 (8.3%) 0.78 2,029
2020-10-01 $260,000 (2.1%) $367,305 (11.1%) 0.75 2,012
2020-11-01 $249,900 (1.0%) $360,722 (11.8%) 0.73 2,019
2020-12-01 $246,450 (2.7%) $351,892 (10.7%) 0.73 1,893
2021-01-01 $249,900 (3.7%) $355,456 (11.1%) 0.75 1,590
2021-02-01 $261,900 (2.1%) $369,593 (11.6%) 0.76 1,256
2021-03-01 $267,900 (-2.6%) $377,733 (7.6%) 0.76 1,221
2021-04-01 $272,425 (-2.4%) $385,390 (8.8%) 0.74 1,269
2021-05-01 $276,908 (-6.1%) $388,872 (4.9%) 0.74 1,250
2021-06-01 $282,450 (-3.1%) $393,877 (3.5%) 0.74 1,408
2021-07-01 $275,000 (-6.3%) $375,687 (-2.3%) 0.73 1,670
2021-08-01 $269,900 (-6.5%) $370,666 (-1.9%) 0.72 1,851
2021-09-01 $259,900 (-4.6%) $359,828 (-2.6%) 0.69 1,900
2021-10-01 $259,450 (-0.2%) $353,977 (-3.6%) 0.69 1,948
2021-11-01 $249,900 (0.0%) $348,861 (-3.3%) 0.67 1,884
2021-12-01 $255,950 (3.9%) $354,101 (0.6%) 0.69 1,636
2022-01-01 $260,152 (4.1%) $354,214 (-0.4%) 0.70 1,407
2022-02-01 $280,537 (7.1%) $371,998 (0.7%) 0.73 1,137
2022-03-01 $289,950 (8.2%) $380,930 (0.9%) 0.73 1,143
2022-04-01 $293,460 (7.7%) $384,142 (-0.3%) 0.70 1,178
2022-05-01 $297,804 (7.6%) $384,968 (-1.0%) 0.68 1,473
2022-06-01 $299,900 (6.2%) $388,867 (-1.3%) 0.67 1,713
2022-07-01 $299,999 (9.1%) $377,891 (0.6%) 0.68 2,008
2022-08-01 $299,900 (11.1%) $373,345 (0.7%) 0.69 2,124
2022-09-01 $299,950 (15.4%) $371,675 (3.3%) 0.70 2,115
2022-10-01 $299,900 (15.6%) $365,777 (3.3%) 0.71 2,251
2022-11-01 $290,000 (16.1%) $356,796 (2.3%) 0.70 2,360
2022-12-01 $295,000 (15.3%) $358,402 (1.2%) 0.73 2,169
2023-01-01 $299,000 (14.9%) $362,330 (2.3%) 0.74 1,917
2023-02-01 $300,000 (6.9%) $375,196 (0.9%) 0.72 1,657
2023-03-01 $307,975 (6.2%) $377,077 (-1.0%) 0.73 1,560
2023-04-01 $320,000 (9.0%) $395,982 (3.1%) 0.74 1,471
2023-05-01 $323,913 (8.8%) $403,574 (4.8%) 0.73 1,514
2023-06-01 $324,950 (8.4%) $403,739 (3.8%) 0.73 1,642
2023-07-01 $324,900 (8.3%) $397,959 (5.3%) 0.74 1,745
2023-08-01 $322,500 (7.5%) $394,753 (5.7%) 0.74 1,837
2023-09-01 $316,358 (5.5%) $392,937 (5.7%) 0.74 1,986
2023-10-01 $305,450 (1.9%) $379,716 (3.8%) 0.72 2,275
2023-11-01 $299,997 (3.5%) $375,585 (5.3%) 0.71 2,403
2023-12-01 $299,900 (1.7%) $373,428 (4.2%) 0.73 2,271
2024-01-01 $308,475 (3.2%) $379,817 (4.8%) 0.75 2,059
2024-02-01 $312,389 (4.1%) $380,895 (1.5%) 0.75 1,861
2024-03-01 $315,000 (2.3%) $394,375 (4.6%) 0.74 1,785
Louisville's median listing price for 2024-03-01 was $315,000, a difference of $7,025 (2.3%) versus the prior year and $2,611 versus the prior month.

Louisville's median listing price comes in at 74% of the national average.

Louisville's average listing price for 2024-03-01 was $394,375, a difference of $17,298 (4.6%) versus the prior year and $13,480 versus the prior month.

For the 2024-03-01 period, Louisville had 1,785 MLS listings, a difference of -76 listings (-4%) versus the prior month and 225 listings (14%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Louisville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 73 days 1,985 sqft
2018-02-01 64 days 2,002 sqft
2018-03-01 45 days 2,051 sqft
2018-04-01 43 days 2,087 sqft
2018-05-01 39 days 2,129 sqft
2018-06-01 39 days 2,166 sqft
2018-07-01 43 days 2,139 sqft
2018-08-01 43 days 2,137 sqft
2018-09-01 45 days 2,126 sqft
2018-10-01 48 days 2,100 sqft
2018-11-01 52 days 2,079 sqft
2018-12-01 60 days 2,050 sqft
2019-01-01 67 days 2,042 sqft
2019-02-01 63 days 2,059 sqft
2019-03-01 52 days 2,119 sqft
2019-04-01 44 days 2,180 sqft
2019-05-01 43 days 2,245 sqft
2019-06-01 44 days 2,200 sqft
2019-07-01 44 days 2,149 sqft
2019-08-01 44 days 2,097 sqft
2019-09-01 45 days 2,042 sqft
2019-10-01 46 days 1,998 sqft
2019-11-01 51 days 1,959 sqft
2019-12-01 63 days 1,871 sqft
2020-01-01 69 days 1,879 sqft
2020-02-01 59 days 1,909 sqft
2020-03-01 47 days 1,975 sqft
2020-04-01 49 days 1,987 sqft
2020-05-01 52 days 2,002 sqft
2020-06-01 41 days 2,010 sqft
2020-07-01 38 days 1,988 sqft
2020-08-01 35 days 1,978 sqft
2020-09-01 32 days 1,897 sqft
2020-10-01 31 days 1,891 sqft
2020-11-01 34 days 1,810 sqft
2020-12-01 39 days 1,756 sqft
2021-01-01 46 days 1,750 sqft
2021-02-01 37 days 1,754 sqft
2021-03-01 27 days 1,789 sqft
2021-04-01 23 days 1,764 sqft
2021-05-01 22 days 1,776 sqft
2021-06-01 19 days 1,825 sqft
2021-07-01 22 days 1,800 sqft
2021-08-01 24 days 1,801 sqft
2021-09-01 29 days 1,775 sqft
2021-10-01 30 days 1,750 sqft
2021-11-01 32 days 1,683 sqft
2021-12-01 41 days 1,667 sqft
2022-01-01 45 days 1,640 sqft
2022-02-01 34 days 1,674 sqft
2022-03-01 23 days 1,681 sqft
2022-04-01 21 days 1,704 sqft
2022-05-01 20 days 1,781 sqft
2022-06-01 22 days 1,825 sqft
2022-07-01 24 days 1,830 sqft
2022-08-01 31 days 1,825 sqft
2022-09-01 36 days 1,829 sqft
2022-10-01 36 days 1,846 sqft
2022-11-01 41 days 1,823 sqft
2022-12-01 50 days 1,821 sqft
2023-01-01 54 days 1,800 sqft
2023-02-01 44 days 1,801 sqft
2023-03-01 36 days 1,806 sqft
2023-04-01 36 days 1,918 sqft
2023-05-01 31 days 1,890 sqft
2023-06-01 29 days 1,867 sqft
2023-07-01 31 days 1,900 sqft
2023-08-01 32 days 1,928 sqft
2023-09-01 32 days 1,880 sqft
2023-10-01 32 days 1,863 sqft
2023-11-01 37 days 1,820 sqft
2023-12-01 48 days 1,800 sqft
2024-01-01 53 days 1,814 sqft
2024-02-01 45 days 1,820 sqft
2024-03-01 40 days 1,822 sqft
Louisville's median listing age (time on market) for 2024-03-01 was 40 days. This is 11% longer than the same period one year ago.

Louisville's median square footage for active listings during the 2024-03-01 period was 1,822 sqft. One year prior, the average listing was 1,806 sqft.