Louisville USDA Loan Rates, Closing Costs & Stats

LOUISVILLE, KY

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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'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 -0.11% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

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

    The average rate for the prior week (2024-11-08) was 6.24% and one month ago for the week of 2024-10-11, the average rate was 6.31%.

    The average rate one year ago was 7.23%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.14%.

    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
    2024-04-01 $327,450 (2.3%) $410,096 (3.6%) 0.76 1,837
    2024-05-01 $339,950 (5.0%) $427,530 (5.9%) 0.77 2,015
    2024-06-01 $342,318 (5.3%) $427,531 (5.9%) 0.77 2,113
    2024-07-01 $327,500 (0.8%) $421,936 (6.0%) 0.75 2,325
    2024-08-01 $324,195 (0.5%) $417,578 (5.8%) 0.75 2,441
    2024-09-01 $318,250 (0.6%) $410,253 (4.4%) 0.75 2,609
    2024-10-01 $317,400 (3.9%) $409,397 (7.8%) 0.75 2,702
    Louisville's median listing price for 2024-10-01 was $317,400, a difference of $11,950 (3.9%) versus the prior year and $-850 versus the prior month.

    Louisville's median listing price comes in at 75% of the national average.

    Louisville's average listing price for 2024-10-01 was $409,397, a difference of $29,681 (7.8%) versus the prior year and $-856 versus the prior month.

    For the 2024-10-01 period, Louisville had 2,702 MLS listings, a difference of 93 listings (4%) versus the prior month and 427 listings (19%) 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
    2024-04-01 38 days 1,891 sqft
    2024-05-01 31 days 1,901 sqft
    2024-06-01 32 days 1,928 sqft
    2024-07-01 37 days 1,894 sqft
    2024-08-01 38 days 1,880 sqft
    2024-09-01 38 days 1,871 sqft
    2024-10-01 39 days 1,881 sqft
    Louisville's median listing age (time on market) for 2024-10-01 was 39 days. This is 22% longer than the same period one year ago.

    Louisville's median square footage for active listings during the 2024-10-01 period was 1,881 sqft. One year prior, the average listing was 1,863 sqft.