Louisville/jefferson County USDA Loan Rates, Closing Costs & Stats

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 6.57% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

    Louisville/jefferson County's average USDA mortgage closing costs are $4,405.

    The average rate for the prior week (2022-11-25) was 6.5% and one month ago for the week of 2022-10-28, the average rate was 7.08%.

    The average rate one year ago was 3.57%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.38%.

    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/closing costs 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. Closing Costs
    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 $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%) $330,443 (7.6%) 0.91 2,948
    2018-04-01 $261,926 (11.5%) $331,012 (4.7%) 0.89 3,038
    2018-05-01 $269,900 (9.5%) $343,519 (4.7%) 0.90 3,234
    2018-06-01 $271,172 (11.0%) $346,715 (6.4%) 0.90 3,447
    2018-07-01 $270,625 (12.8%) $345,981 (7.3%) 0.90 3,555
    2018-08-01 $269,900 (9.9%) $346,881 (6.2%) 0.90 3,671
    2018-09-01 $269,570 (12.4%) $345,908 (7.6%) 0.90 3,847
    2018-10-01 $260,450 (10.8%) $338,616 (7.6%) 0.88 4,032
    2018-11-01 $257,950 (10.5%) $339,630 (9.3%) 0.87 3,989
    2018-12-01 $249,950 (8.7%) $326,770 (6.5%) 0.86 3,767
    2019-01-01 $250,000 (4.7%) $323,314 (3.1%) 0.86 3,455
    2019-02-01 $262,450 (5.4%) $335,104 (3.5%) 0.89 3,136
    2019-03-01 $277,197 (6.7%) $349,423 (5.7%) 0.91 3,065
    2019-04-01 $286,475 (9.4%) $365,492 (10.4%) 0.91 3,251
    2019-05-01 $289,900 (7.4%) $374,070 (8.9%) 0.91 3,431
    2019-06-01 $285,000 (5.1%) $371,382 (7.1%) 0.89 3,574
    2019-07-01 $278,125 (2.8%) $358,628 (3.7%) 0.87 3,807
    2019-08-01 $270,697 (0.3%) $350,770 (1.1%) 0.86 3,910
    2019-09-01 $264,244 (-2.0%) $340,461 (-1.6%) 0.85 3,941
    2019-10-01 $254,612 (-2.2%) $330,174 (-2.5%) 0.82 3,972
    2019-11-01 $247,400 (-4.1%) $322,061 (-5.2%) 0.81 3,828
    2019-12-01 $239,950 (-4.0%) $317,320 (-2.9%) 0.80 3,417
    2020-01-01 $240,628 (-3.8%) $319,460 (-1.2%) 0.80 3,115
    2020-02-01 $256,333 (-2.3%) $330,511 (-1.4%) 0.84 2,826
    2020-03-01 $274,825 (-0.9%) $350,479 (0.3%) 0.86 2,660
    2020-04-01 $278,450 (-2.8%) $353,612 (-3.3%) 0.87 2,708
    2020-05-01 $295,000 (1.8%) $369,818 (-1.1%) 0.90 2,511
    2020-06-01 $290,975 (2.1%) $379,485 (2.2%) 0.86 2,227
    2020-07-01 $291,424 (4.8%) $383,398 (6.9%) 0.84 2,075
    2020-08-01 $285,950 (5.6%) $376,454 (7.3%) 0.82 1,984
    2020-09-01 $272,400 (3.1%) $368,509 (8.2%) 0.78 2,044
    2020-10-01 $260,000 (2.1%) $366,433 (11.0%) 0.75 2,028
    2020-11-01 $249,900 (1.0%) $359,806 (11.7%) 0.73 2,034
    2020-12-01 $246,450 (2.7%) $351,016 (10.6%) 0.73 1,907
    2021-01-01 $249,950 (3.9%) $354,597 (11.0%) 0.75 1,604
    2021-02-01 $261,900 (2.2%) $368,157 (11.4%) 0.76 1,271
    2021-03-01 $267,900 (-2.5%) $375,731 (7.2%) 0.76 1,235
    2021-04-01 $271,450 (-2.5%) $382,881 (8.3%) 0.73 1,282
    2021-05-01 $275,000 (-6.8%) $386,333 (4.5%) 0.73 1,263
    2021-06-01 $282,400 (-3.0%) $391,559 (3.2%) 0.74 1,420
    2021-07-01 $274,900 (-5.7%) $374,456 (-2.3%) 0.72 1,681
    2021-08-01 $269,900 (-5.6%) $369,907 (-1.7%) 0.72 1,862
    2021-09-01 $259,900 (-4.6%) $358,966 (-2.6%) 0.69 1,912
    2021-10-01 $259,450 (-0.2%) $353,218 (-3.6%) 0.69 1,960
    2021-11-01 $249,900 (0.0%) $348,073 (-3.3%) 0.67 1,897
    2021-12-01 $256,276 (4.0%) $353,080 (0.6%) 0.69 1,649
    2022-01-01 $260,950 (4.4%) $353,184 (-0.4%) 0.71 1,421
    2022-02-01 $279,900 (6.9%) $370,243 (0.6%) 0.73 1,152
    2022-03-01 $289,950 (8.2%) $379,298 (1.0%) 0.73 1,158
    2022-04-01 $290,000 (6.8%) $382,221 (-0.2%) 0.69 1,196
    2022-05-01 $297,207 (8.1%) $383,441 (-0.8%) 0.68 1,488
    2022-06-01 $299,900 (6.2%) $387,392 (-1.1%) 0.67 1,729
    2022-07-01 $299,900 (9.1%) $376,759 (0.6%) 0.68 2,026
    2022-08-01 $299,900 (11.1%) $372,478 (0.7%) 0.69 2,138
    2022-09-01 $299,950 (15.4%) $370,879 (3.3%) 0.70 2,129
    2022-10-01 $299,900 (15.6%) $365,055 (3.4%) 0.71 2,265
    2022-11-01 $290,000 (16.1%) $356,145 (2.3%) 0.70 2,374
    Louisville/jefferson County's median listing price for 2022-11-01 was $290,000, a difference of $40,100 (16.1%) versus the prior year and $-9,900 versus the prior month.

    Louisville/jefferson County's median listing price comes in at 70% of the national average.

    Louisville/jefferson County's average listing price for 2022-11-01 was $356,145, a difference of $8,072 (2.3%) versus the prior year and $-8,910 versus the prior month.

    For the 2022-11-01 period, Louisville/jefferson County had 2,374 MLS listings, a difference of 109 listings (5%) versus the prior month and 477 listings (25%) 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 1,983 sqft
    2018-02-01 67 days 2,000 sqft
    2018-03-01 47 days 2,050 sqft
    2018-04-01 45 days 2,086 sqft
    2018-05-01 40 days 2,126 sqft
    2018-06-01 41 days 2,166 sqft
    2018-07-01 44 days 2,137 sqft
    2018-08-01 44 days 2,136 sqft
    2018-09-01 46 days 2,125 sqft
    2018-10-01 50 days 2,099 sqft
    2018-11-01 55 days 2,078 sqft
    2018-12-01 64 days 2,050 sqft
    2019-01-01 68 days 2,036 sqft
    2019-02-01 66 days 2,056 sqft
    2019-03-01 57 days 2,117 sqft
    2019-04-01 46 days 2,177 sqft
    2019-05-01 45 days 2,238 sqft
    2019-06-01 46 days 2,200 sqft
    2019-07-01 45 days 2,142 sqft
    2019-08-01 46 days 2,091 sqft
    2019-09-01 47 days 2,040 sqft
    2019-10-01 47 days 1,997 sqft
    2019-11-01 52 days 1,955 sqft
    2019-12-01 64 days 1,870 sqft
    2020-01-01 71 days 1,879 sqft
    2020-02-01 62 days 1,908 sqft
    2020-03-01 50 days 1,975 sqft
    2020-04-01 51 days 1,987 sqft
    2020-05-01 56 days 2,002 sqft
    2020-06-01 44 days 2,010 sqft
    2020-07-01 41 days 1,987 sqft
    2020-08-01 37 days 1,978 sqft
    2020-09-01 33 days 1,898 sqft
    2020-10-01 32 days 1,892 sqft
    2020-11-01 36 days 1,810 sqft
    2020-12-01 42 days 1,757 sqft
    2021-01-01 47 days 1,750 sqft
    2021-02-01 38 days 1,756 sqft
    2021-03-01 29 days 1,790 sqft
    2021-04-01 24 days 1,764 sqft
    2021-05-01 22 days 1,775 sqft
    2021-06-01 21 days 1,823 sqft
    2021-07-01 22 days 1,800 sqft
    2021-08-01 24 days 1,802 sqft
    2021-09-01 30 days 1,776 sqft
    2021-10-01 31 days 1,750 sqft
    2021-11-01 33 days 1,683 sqft
    2021-12-01 41 days 1,670 sqft
    2022-01-01 47 days 1,645 sqft
    2022-02-01 36 days 1,674 sqft
    2022-03-01 25 days 1,683 sqft
    2022-04-01 23 days 1,704 sqft
    2022-05-01 21 days 1,781 sqft
    2022-06-01 22 days 1,825 sqft
    2022-07-01 25 days 1,830 sqft
    2022-08-01 31 days 1,825 sqft
    2022-09-01 37 days 1,830 sqft
    2022-10-01 37 days 1,848 sqft
    2022-11-01 41 days 1,826 sqft
    Louisville/jefferson County's median listing age (time on market) for 2022-11-01 was 41 days. This is 27% longer than the same period one year ago.

    Louisville/jefferson County's median square footage for active listings during the 2022-11-01 period was 1,826 sqft. One year prior, the average listing was 1,683 sqft.