Mayfield USDA Loan Rates, Closing Costs & Stats

Mayfield, 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.

Mayfield's 12 lenders originated 23 USDA loans during 2023. The total origination value was $3,365,000, with an average USDA loan value of $146,304.

Mayfield USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Mayfield averaged 6.57% for the week of 2024-03-22, compared to the national average (all USDA variants) of 6.674% for the same period.

Mayfield's average USDA mortgage closing costs are $3,937.

The average rate for the prior week (2024-03-15) was 6.39% and one month ago for the week of 2024-02-16, the average rate was 6.57%.

The average rate one year ago was 6.47%.

For refis of the same type during the week of 2024-03-22, the average rate was 6.57%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Mayfield 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 Mayfield level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
GERSHMAN INVESTMENT CORP. 5 6.28% $5,050
MID AMERICA MORTGAGE, INC. 4 6.66% $4,330
Magnolia Bank 4 6.59% $4,606
U.S. Bank 2 6.25% $4,385
FirstTrust Home Loans, Inc. 1 6.63% $2,832
EVERETT FINANCIAL, INC. 1 7.13% $8,131
CRESCENT MORTGAGE COMPANY 1 6.25% $4,128
Community Mortgage Banc Corporation 1 6.25% $4,248
POLARIS HOME FUNDING CORP. 1 6.75% $5,704
Regions Bank 1 6.25% $4,393
STOCKTON MORTGAGE CORPORATION 1 7.63% $5,453
AXIA FINANCIAL, LLC 1 6.99% $8,749

The top Mayfield USDA lender as defined by loan originations is GERSHMAN INVESTMENT CORP., with 5 USDA loans originated. Their average total fees are $5,050, which is $720 higher than the next largest lender, MID AMERICA MORTGAGE, INC..

The lowest fee Mayfield USDA lenders (with over 10 loans originated) are .

The lowest rate Mayfield USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Mayfield (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 $126,250 (1.1%) $152,169 (6.1%) 0.00 125
2018-02-01 $124,100 (-3.6%) $150,686 (-0.7%) 0.00 117
2018-03-01 $134,450 (-1.8%) $162,991 (5.1%) 0.00 119
2018-04-01 $137,188 (-1.7%) $157,806 (0.1%) 0.00 140
2018-05-01 $135,000 (-3.5%) $159,738 (-1.1%) 0.00 144
2018-06-01 $145,000 (2.2%) $164,083 (1.5%) 0.00 153
2018-07-01 $146,125 (6.0%) $168,420 (7.3%) 0.00 156
2018-08-01 $132,900 (2.3%) $168,994 (9.5%) 0.00 153
2018-09-01 $124,900 (9.1%) $164,355 (8.2%) 0.00 147
2018-10-01 $123,150 (3.4%) $164,524 (8.7%) 0.00 132
2018-11-01 $119,200 (-5.0%) $158,550 (3.8%) 0.00 133
2018-12-01 $121,400 (1.6%) $158,215 (6.4%) 0.00 125
2019-01-01 $119,900 (-5.0%) $156,514 (2.9%) 0.00 106
2019-02-01 $122,225 (-1.5%) $150,268 (-0.3%) 0.00 111
2019-03-01 $133,929 (-0.4%) $162,740 (-0.2%) 0.00 102
2019-04-01 $139,900 (2.0%) $173,741 (10.1%) 0.00 96
2019-05-01 $136,175 (0.9%) $179,880 (12.6%) 0.00 113
2019-06-01 $135,000 (-6.9%) $187,344 (14.2%) 0.00 120
2019-07-01 $134,925 (-7.7%) $190,859 (13.3%) 0.00 110
2019-08-01 $138,886 (4.5%) $187,120 (10.7%) 0.00 111
2019-09-01 $144,716 (15.9%) $179,898 (9.5%) 0.00 113
2019-10-01 $148,227 (20.4%) $172,465 (4.8%) 0.00 115
2019-11-01 $140,200 (17.6%) $166,794 (5.2%) 0.00 112
2019-12-01 $146,700 (20.8%) $171,667 (8.5%) 0.00 100
2020-01-01 $148,625 (24.0%) $172,734 (10.4%) 0.00 90
2020-02-01 $139,900 (14.5%) $177,708 (18.3%) 0.00 64
2020-03-01 $139,000 (3.8%) $183,423 (12.7%) 0.00 63
2020-04-01 $143,375 (2.5%) $186,396 (7.3%) 0.00 58
2020-05-01 $159,200 (16.9%) $196,904 (9.5%) 0.00 50
2020-06-01 $162,225 (20.2%) $209,318 (11.7%) 0.00 46
2020-07-01 $136,150 (0.9%) $200,551 (5.1%) 0.00 42
2020-08-01 $143,700 (3.5%) $195,120 (4.3%) 0.00 42
2020-09-01 $162,400 (12.2%) $192,297 (6.9%) 0.00 41
2020-10-01 $160,000 (7.9%) $204,158 (18.4%) 0.00 39
2020-11-01 $145,925 (4.1%) $196,635 (17.9%) 0.00 34
2020-12-01 $134,900 (-8.0%) $174,572 (1.7%) 0.00 32
2021-01-01 $139,900 (-5.9%) $186,046 (7.7%) 0.00 31
2021-02-01 $160,750 (14.9%) $194,018 (9.2%) 0.00 30
2021-03-01 $175,725 (26.4%) $207,792 (13.3%) 0.00 20
2021-04-01 $149,400 (4.2%) $181,868 (-2.4%) 0.00 27
2021-05-01 $144,900 (-9.0%) $222,004 (12.8%) 0.00 26
2021-06-01 $149,450 (-7.9%) $214,194 (2.3%) 0.00 33
2021-07-01 $143,750 (5.6%) $200,670 (0.1%) 0.00 37
2021-08-01 $149,900 (4.3%) $249,888 (28.1%) 0.00 43
2021-09-01 $148,675 (-8.5%) $230,682 (20.0%) 0.00 48
2021-10-01 $160,000 (0.0%) $237,649 (16.4%) 0.00 45
2021-11-01 $185,925 (27.4%) $242,817 (23.5%) 0.00 46
2021-12-01 $184,350 (36.7%) $246,425 (41.2%) 0.00 44
2022-01-01 $174,900 (25.0%) $242,719 (30.5%) 0.00 33
2022-02-01 $170,950 (6.4%) $236,884 (22.1%) 0.00 30
2022-03-01 $219,900 (25.1%) $244,635 (17.7%) 0.00 22
2022-04-01 $199,450 (33.5%) $241,966 (33.1%) 0.00 21
2022-05-01 $214,725 (48.2%) $232,488 (4.7%) 0.00 25
2022-06-01 $244,950 (63.9%) $245,278 (14.5%) 0.00 29
2022-07-01 $229,000 (59.3%) $241,847 (20.5%) 0.00 34
2022-08-01 $209,225 (39.6%) $233,912 (-6.4%) 0.00 43
2022-09-01 $193,750 (30.3%) $225,117 (-2.4%) 0.00 51
2022-10-01 $212,000 (32.5%) $229,540 (-3.4%) 0.00 50
2022-11-01 $189,950 (2.2%) $210,418 (-13.3%) 0.00 55
2022-12-01 $201,950 (9.6%) $231,947 (-5.9%) 0.00 45
2023-01-01 $204,900 (17.2%) $237,482 (-2.2%) 0.00 41
2023-02-01 $184,450 (7.9%) $238,424 (0.7%) 0.00 32
2023-03-01 $210,000 (-4.5%) $266,429 (8.9%) 0.00 32
2023-04-01 $204,900 (2.7%) $274,950 (13.6%) 0.00 37
2023-05-01 $202,400 (-5.7%) $269,958 (16.1%) 0.00 35
2023-06-01 $260,950 (6.5%) $293,565 (19.7%) 0.00 40
2023-07-01 $269,900 (17.9%) $290,879 (20.3%) 0.00 44
2023-08-01 $244,450 (16.8%) $269,655 (15.3%) 0.00 51
2023-09-01 $254,750 (31.5%) $285,060 (26.6%) 0.00 51
2023-10-01 $229,225 (8.1%) $265,360 (15.6%) 0.00 56
2023-11-01 $215,725 (13.6%) $254,374 (20.9%) 0.00 57
2023-12-01 $222,450 (10.2%) $258,665 (11.5%) 0.00 58
2024-01-01 $219,750 (7.3%) $249,568 (5.1%) 0.00 57
2024-02-01 $201,500 (9.2%) $252,324 (5.8%) 0.00 50
Mayfield's median listing price for 2024-02-01 was $201,500, a difference of $17,050 (9.2%) versus the prior year and $-18,250 versus the prior month.

Mayfield's median listing price comes in at 0% of the national average.

Mayfield's average listing price for 2024-02-01 was $252,324, a difference of $13,900 (5.8%) versus the prior year and $2,756 versus the prior month.

For the 2024-02-01 period, Mayfield had 50 MLS listings, a difference of -7 listings (-12%) versus the prior month and 18 listings (56%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Mayfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,773 sqft
2018-02-01 0 days 1,760 sqft
2018-03-01 0 days 1,875 sqft
2018-04-01 0 days 1,764 sqft
2018-05-01 0 days 1,764 sqft
2018-06-01 0 days 1,786 sqft
2018-07-01 0 days 1,853 sqft
2018-08-01 0 days 1,766 sqft
2018-09-01 0 days 1,698 sqft
2018-10-01 0 days 1,710 sqft
2018-11-01 0 days 1,703 sqft
2018-12-01 0 days 1,700 sqft
2019-01-01 0 days 1,705 sqft
2019-02-01 0 days 1,688 sqft
2019-03-01 0 days 1,743 sqft
2019-04-01 0 days 1,772 sqft
2019-05-01 0 days 1,752 sqft
2019-06-01 0 days 1,817 sqft
2019-07-01 0 days 1,820 sqft
2019-08-01 0 days 1,777 sqft
2019-09-01 0 days 1,799 sqft
2019-10-01 0 days 1,806 sqft
2019-11-01 0 days 1,751 sqft
2019-12-01 0 days 1,901 sqft
2020-01-01 0 days 1,942 sqft
2020-02-01 0 days 1,913 sqft
2020-03-01 0 days 1,882 sqft
2020-04-01 0 days 1,887 sqft
2020-05-01 0 days 1,907 sqft
2020-06-01 0 days 1,900 sqft
2020-07-01 0 days 1,804 sqft
2020-08-01 0 days 1,800 sqft
2020-09-01 0 days 1,858 sqft
2020-10-01 0 days 1,800 sqft
2020-11-01 0 days 1,730 sqft
2020-12-01 0 days 1,613 sqft
2021-01-01 0 days 1,691 sqft
2021-02-01 0 days 1,755 sqft
2021-03-01 0 days 2,000 sqft
2021-04-01 0 days 1,697 sqft
2021-05-01 0 days 1,872 sqft
2021-06-01 0 days 1,801 sqft
2021-07-01 0 days 1,620 sqft
2021-08-01 0 days 1,803 sqft
2021-09-01 0 days 1,791 sqft
2021-10-01 0 days 1,754 sqft
2021-11-01 0 days 1,772 sqft
2021-12-01 0 days 1,847 sqft
2022-01-01 0 days 1,765 sqft
2022-02-01 0 days 1,773 sqft
2022-03-01 0 days 1,663 sqft
2022-04-01 0 days 1,800 sqft
2022-05-01 0 days 1,677 sqft
2022-06-01 0 days 1,746 sqft
2022-07-01 0 days 1,893 sqft
2022-08-01 0 days 1,774 sqft
2022-09-01 0 days 1,774 sqft
2022-10-01 0 days 1,680 sqft
2022-11-01 0 days 1,609 sqft
2022-12-01 0 days 1,735 sqft
2023-01-01 0 days 1,755 sqft
2023-02-01 0 days 1,643 sqft
2023-03-01 0 days 1,639 sqft
2023-04-01 0 days 1,653 sqft
2023-05-01 0 days 1,788 sqft
2023-06-01 0 days 1,944 sqft
2023-07-01 0 days 1,874 sqft
2023-08-01 0 days 1,708 sqft
2023-09-01 0 days 1,792 sqft
2023-10-01 0 days 1,829 sqft
2023-11-01 0 days 1,741 sqft
2023-12-01 0 days 1,776 sqft
2024-01-01 0 days 1,830 sqft
2024-02-01 0 days 1,704 sqft
Mayfield's median listing age (time on market) for 2024-02-01 was 0 days.

Mayfield's median square footage for active listings during the 2024-02-01 period was 1,704 sqft. One year prior, the average listing was 1,643 sqft.