Louisville/jefferson County USDA Loans

LOUISVILLE/JEFFERSON COUNTY, KY-IN

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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.

    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.