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 59 lenders originated 282 USDA loans during 2022. The total origination value was $54,100,000, with an average USDA loan value of $191,844.

Louisville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Louisville averaged -0.54% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

Louisville's average USDA mortgage closing costs are $4,507.

The average rate for the prior week (2023-11-17) was 7.05% and one month ago for the week of 2023-10-20, the average rate was 7.37%.

The average rate one year ago was 6.21%.

For refis of the same type during the week of 2023-11-24, the average rate was -1.3%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
HOME POINT FINANCIAL CORPORATION 43 4.54% $5,518
UNITED WHOLESALE MORTGAGE, LLC 20 4.90% $5,011
Century Mortgage Company DBA Century Lending Company 19 4.70% $5,186
GUARANTY HOME MORTGAGE CORPORATION 14 4.63% $4,713
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 5.24% $6,459
Northpointe Bank 12 4.76% $5,117
STOCKTON MORTGAGE CORPORATION 10 5.03% $7,138
CMG MORTGAGE, INC. 10 4.82% $5,299
SUCCESS MORTGAGE PARTNERS, INC. 9 5.35% $6,229
Magnolia Bank 9 4.30% $6,307
RUOFF MORTGAGE COMPANY, INC. 6 5.13% $3,671
Paramount Residential Mortgage Group, Inc. 6 4.75% $5,770
THRIVE MORTGAGE, LLC 6 3.71% $5,604
UNION HOME MORTGAGE CORP. 5 4.40% $3,685
Stock Yards Bank & Trust Company 5 4.33% $4,643
EVERETT FINANCIAL, INC. 4 4.50% $3,879
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 4.31% $6,792
Sierra Pacific Mortgage Company, Inc. 4 5.63% $6,687
First Savings Bank 4 4.72% $4,002
INTERLINC MORTGAGE SERVICES, LLC 4 5.06% $5,029
MID AMERICA MORTGAGE, INC. 4 4.16% $3,932
AMERICAN MORTGAGE SERVICE COMPANY 3 4.00% $5,551
Prosperity Home Mortgage, LLC 3 4.37% $6,391
CROSSCOUNTRY MORTGAGE, LLC 3 4.62% $3,174
SOUTHWEST FUNDING, LP 3 5.29% $7,480
EMM LOANS LLC 3 5.08% $5,555
Flagstar Bank, FSB 3 3.92% $4,699
ENVOY MORTGAGE, LTD 2 5.44% $9,680
CARDINAL FINANCIAL 2 5.38% $10,692
Carrington Mortgage Services, LLC 2 4.50% $7,987
CALIBER HOME LOANS, INC. 2 3.81% $4,020
Wolfe Financial, Inc 2 5.44% $5,375
German American Bank 2 4.06% $4,897
DIRECT MORTGAGE LOANS, LLC 2 4.63% $5,880
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 4.94% $4,691
Regions Bank 2 5.38% $2,309
MYCUMORTGAGE, LLC 1 3.50% $4,647
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.75% $3,353
CHURCHILL MORTGAGE CORPORATION 1 4.38% $11,329
DRAPER AND KRAMER MORTGAGE CORP. 1 5.25% $4,208
EVANSVILLE TEACHERS 1 2.63% $7,268
FAIR WAY LENDING LLC 1 5.75% $4,134
FBC MORTGAGE, LLC 1 5.63% $4,888
First Harrison Bank 1 4.00% $2,922
Forcht Bank 1 5.50% $5,957
GUARANTEED RATE AFFINITY, LLC 1 5.75% $5,192
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.99% $3,507
HOMESIDE FINANCIAL, LLC 1 5.13% $6,710
Hometown Equity Mortgage, LLC 1 3.25% $4,709
Jackson County Bank 1 5.13% $4,139
LOANDEPOT.COM, LLC 1 5.63% $4,959
MOVEMENT MORTGAGE, LLC 1 3.25% $3,945
PENNYMAC LOAN SERVICES, LLC 1 2.88% $4,790
Plains Commerce Bank 1 6.25% $8,167
PLAZA HOME MORTGAGE, INC. 1 4.99% $5,425
POLARIS HOME FUNDING CORP. 1 4.88% $7,226
VICTORY MORTGAGE, L.L.C. 1 2.63% $5,721
WesBanco 1 4.00% $4,780
Wilson & Muir Bank & Trust Company 1 5.13% $5,252

The top Louisville USDA lender as defined by loan originations is HOME POINT FINANCIAL CORPORATION, with 43 USDA loans originated. Their average total fees are $5,518, which is $507 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Louisville USDA lenders (with over 10 loans originated) are GUARANTY HOME MORTGAGE CORPORATION ($4,713), UNITED WHOLESALE MORTGAGE, LLC ($5,011), Northpointe Bank ($5,117), Century Mortgage Company DBA Century Lending Company ($5,186) and CMG MORTGAGE, INC. ($5,299).

The lowest rate Louisville USDA lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION (4.54%), GUARANTY HOME MORTGAGE CORPORATION (4.63%), Century Mortgage Company DBA Century Lending Company (4.70%), Northpointe Bank (4.76%) and CMG MORTGAGE, INC. (4.82%).


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 $238,875 (24.2%) $313,489 (12.7%) 0.89 3,145
2018-02-01 $248,923 (18.3%) $323,917 (9.2%) 0.90 2,942
2018-03-01 $259,900 (18.1%) $330,530 (7.8%) 0.91 2,948
2018-04-01 $261,957 (11.5%) $331,099 (5.0%) 0.89 3,037
2018-05-01 $269,900 (9.6%) $343,606 (5.0%) 0.90 3,233
2018-06-01 $271,172 (11.2%) $346,715 (6.6%) 0.90 3,447
2018-07-01 $270,625 (12.8%) $345,981 (7.5%) 0.90 3,555
2018-08-01 $269,900 (9.9%) $346,881 (6.4%) 0.90 3,671
2018-09-01 $269,539 (12.4%) $345,897 (7.8%) 0.91 3,846
2018-10-01 $260,200 (10.7%) $338,534 (7.8%) 0.88 4,032
2018-11-01 $257,950 (10.5%) $339,561 (9.5%) 0.87 3,990
2018-12-01 $249,950 (8.7%) $326,666 (6.7%) 0.86 3,768
2019-01-01 $249,999 (4.7%) $323,197 (3.1%) 0.86 3,456
2019-02-01 $262,450 (5.4%) $335,000 (3.4%) 0.89 3,136
2019-03-01 $276,979 (6.6%) $349,345 (5.7%) 0.91 3,062
2019-04-01 $286,193 (9.3%) $365,397 (10.4%) 0.91 3,244
2019-05-01 $289,900 (7.4%) $374,278 (8.9%) 0.91 3,420
2019-06-01 $285,000 (5.1%) $371,778 (7.2%) 0.89 3,562
2019-07-01 $278,305 (2.8%) $358,912 (3.7%) 0.87 3,796
2019-08-01 $270,753 (0.3%) $351,056 (1.2%) 0.86 3,897
2019-09-01 $264,142 (-2.0%) $340,731 (-1.5%) 0.85 3,929
2019-10-01 $254,500 (-2.2%) $330,407 (-2.4%) 0.82 3,958
2019-11-01 $247,000 (-4.3%) $322,266 (-5.1%) 0.81 3,814
2019-12-01 $239,945 (-4.0%) $317,624 (-2.8%) 0.80 3,403
2020-01-01 $239,963 (-4.0%) $319,801 (-1.1%) 0.80 3,101
2020-02-01 $256,083 (-2.4%) $330,930 (-1.2%) 0.84 2,812
2020-03-01 $274,900 (-0.8%) $350,914 (0.5%) 0.86 2,647
2020-04-01 $279,248 (-2.4%) $354,163 (-3.1%) 0.87 2,694
2020-05-01 $295,000 (1.8%) $370,501 (-1.0%) 0.90 2,497
2020-06-01 $291,449 (2.3%) $380,301 (2.3%) 0.86 2,213
2020-07-01 $293,093 (5.3%) $384,296 (7.1%) 0.85 2,061
2020-08-01 $287,900 (6.3%) $377,334 (7.5%) 0.82 1,970
2020-09-01 $272,400 (3.1%) $369,330 (8.4%) 0.78 2,030
2020-10-01 $260,000 (2.2%) $367,242 (11.2%) 0.75 2,014
2020-11-01 $249,900 (1.2%) $360,575 (11.9%) 0.73 2,020
2020-12-01 $245,449 (2.3%) $351,754 (10.8%) 0.73 1,893
2021-01-01 $249,900 (4.1%) $355,456 (11.2%) 0.75 1,590
2021-02-01 $261,900 (2.3%) $369,441 (11.6%) 0.76 1,257
2021-03-01 $267,900 (-2.6%) $377,648 (7.6%) 0.76 1,222
2021-04-01 $272,400 (-2.5%) $385,390 (8.8%) 0.74 1,269
2021-05-01 $275,950 (-6.5%) $388,632 (4.9%) 0.73 1,252
2021-06-01 $282,450 (-3.1%) $393,506 (3.5%) 0.74 1,410
2021-07-01 $274,950 (-6.2%) $375,324 (-2.3%) 0.73 1,672
2021-08-01 $269,900 (-6.3%) $370,550 (-1.8%) 0.72 1,853
2021-09-01 $259,900 (-4.6%) $359,649 (-2.6%) 0.69 1,902
2021-10-01 $259,000 (-0.4%) $353,859 (-3.6%) 0.69 1,949
2021-11-01 $249,900 (0.0%) $348,573 (-3.3%) 0.67 1,887
2021-12-01 $255,950 (4.3%) $353,712 (0.6%) 0.69 1,639
2022-01-01 $260,000 (4.0%) $353,824 (-0.5%) 0.70 1,410
2022-02-01 $279,900 (6.9%) $371,479 (0.6%) 0.73 1,140
2022-03-01 $289,950 (8.2%) $380,603 (0.8%) 0.73 1,145
2022-04-01 $290,000 (6.5%) $383,599 (-0.5%) 0.69 1,182
2022-05-01 $297,207 (7.7%) $384,412 (-1.1%) 0.68 1,477
2022-06-01 $299,900 (6.2%) $388,353 (-1.3%) 0.67 1,716
2022-07-01 $299,995 (9.1%) $377,695 (0.6%) 0.68 2,012
2022-08-01 $299,900 (11.1%) $373,195 (0.7%) 0.69 2,125
2022-09-01 $299,950 (15.4%) $371,534 (3.3%) 0.70 2,115
2022-10-01 $299,900 (15.8%) $365,642 (3.3%) 0.71 2,251
2022-11-01 $290,000 (16.1%) $356,666 (2.3%) 0.70 2,360
2022-12-01 $295,000 (15.3%) $358,373 (1.3%) 0.73 2,170
2023-01-01 $299,000 (15.0%) $362,291 (2.4%) 0.74 1,918
2023-02-01 $300,000 (7.2%) $375,128 (1.0%) 0.72 1,657
2023-03-01 $307,975 (6.2%) $377,077 (-0.9%) 0.73 1,560
2023-04-01 $320,000 (10.3%) $395,846 (3.2%) 0.74 1,471
2023-05-01 $323,900 (9.0%) $403,505 (5.0%) 0.73 1,512
2023-06-01 $324,900 (8.3%) $403,635 (3.9%) 0.73 1,641
2023-07-01 $324,900 (8.3%) $397,930 (5.4%) 0.74 1,745
2023-08-01 $322,500 (7.5%) $394,753 (5.8%) 0.74 1,837
2023-09-01 $316,358 (5.5%) $392,937 (5.8%) 0.74 1,986
2023-10-01 $305,450 (1.9%) $379,716 (3.9%) 0.72 2,275
Louisville's median listing price for 2023-10-01 was $305,450, a difference of $5,550 (1.9%) versus the prior year and $-10,908 versus the prior month.

Louisville's median listing price comes in at 72% of the national average.

Louisville's average listing price for 2023-10-01 was $379,716, a difference of $14,074 (3.9%) versus the prior year and $-13,221 versus the prior month.

For the 2023-10-01 period, Louisville had 2,275 MLS listings, a difference of 289 listings (15%) versus the prior month and 24 listings (1%) 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 1,983 sqft
2018-02-01 64 days 2,000 sqft
2018-03-01 45 days 2,050 sqft
2018-04-01 43 days 2,087 sqft
2018-05-01 39 days 2,128 sqft
2018-06-01 39 days 2,166 sqft
2018-07-01 43 days 2,138 sqft
2018-08-01 43 days 2,136 sqft
2018-09-01 45 days 2,125 sqft
2018-10-01 48 days 2,098 sqft
2018-11-01 52 days 2,078 sqft
2018-12-01 61 days 2,050 sqft
2019-01-01 67 days 2,036 sqft
2019-02-01 63 days 2,056 sqft
2019-03-01 52 days 2,116 sqft
2019-04-01 44 days 2,178 sqft
2019-05-01 43 days 2,241 sqft
2019-06-01 44 days 2,200 sqft
2019-07-01 44 days 2,144 sqft
2019-08-01 44 days 2,093 sqft
2019-09-01 45 days 2,041 sqft
2019-10-01 46 days 1,997 sqft
2019-11-01 51 days 1,953 sqft
2019-12-01 63 days 1,869 sqft
2020-01-01 69 days 1,877 sqft
2020-02-01 59 days 1,906 sqft
2020-03-01 47 days 1,974 sqft
2020-04-01 49 days 1,987 sqft
2020-05-01 52 days 2,001 sqft
2020-06-01 41 days 2,009 sqft
2020-07-01 38 days 1,987 sqft
2020-08-01 35 days 1,975 sqft
2020-09-01 32 days 1,896 sqft
2020-10-01 31 days 1,890 sqft
2020-11-01 34 days 1,810 sqft
2020-12-01 39 days 1,756 sqft
2021-01-01 46 days 1,747 sqft
2021-02-01 37 days 1,753 sqft
2021-03-01 27 days 1,788 sqft
2021-04-01 23 days 1,764 sqft
2021-05-01 21 days 1,775 sqft
2021-06-01 19 days 1,822 sqft
2021-07-01 22 days 1,800 sqft
2021-08-01 24 days 1,800 sqft
2021-09-01 29 days 1,775 sqft
2021-10-01 30 days 1,750 sqft
2021-11-01 32 days 1,682 sqft
2021-12-01 41 days 1,667 sqft
2022-01-01 46 days 1,640 sqft
2022-02-01 34 days 1,671 sqft
2022-03-01 23 days 1,680 sqft
2022-04-01 22 days 1,703 sqft
2022-05-01 20 days 1,780 sqft
2022-06-01 22 days 1,823 sqft
2022-07-01 25 days 1,830 sqft
2022-08-01 31 days 1,824 sqft
2022-09-01 36 days 1,827 sqft
2022-10-01 36 days 1,845 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 1,889 sqft
2023-06-01 29 days 1,866 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
Louisville's median listing age (time on market) for 2023-10-01 was 32 days. This is -13% shorter than the same period one year ago.

Louisville's median square footage for active listings during the 2023-10-01 period was 1,863 sqft. One year prior, the average listing was 1,845 sqft.