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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.