Frankfort VA Loan Rates, Closing Costs & Stats

Frankfort, KY

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Frankfort's 50 lenders originated 105 VA loans during 2023. The total origination value was $27,925,000, with an average VA loan value of $265,952.

Frankfort VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Frankfort averaged 6.4% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

Frankfort's average VA mortgage closing costs are $5,525.

The average rate for the prior week (2024-07-12) was 6.44% and one month ago for the week of 2024-06-14, the average rate was 6.5%.

The average rate one year ago was 6.88%.

For refis of the same type during the week of 2024-07-19, the average rate was 6.5%.

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

Frankfort VA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Frankfort level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 25 6.63% $6,442
STOCKTON MORTGAGE CORPORATION 7 6.86% $8,853
QUICKEN LOANS, LLC 5 6.02% $11,261
Northpointe Bank 4 6.50% $7,640
NEW DAY FINANCIAL, LLC 3 7.16% $6,939
UNITED WHOLESALE MORTGAGE, LLC 3 6.29% $7,375
NEWREZ LLC 2 6.25% $6,267
Century Mortgage Company DBA Century Lending Company 2 6.13% $1,540
UNION HOME MORTGAGE CORP. 2 6.69% $11,041
USAA Federal Savings Bank 2 5.50% $7,364
PENNYMAC LOAN SERVICES, LLC 2 5.25% $7,894
PLANET HOME LENDING, LLC 2 6.56% $8,757
Bank of England 2 6.00% $6,663
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.19% $11,616
Republic State Mortgage Co. 2 7.13% $2,294
FREEDOM MORTGAGE CORPORATION 2 6.50% $13,076
NAVY FEDERAL CREDIT UNION 2 5.94% $8,225
The Federal Savings Bank 2 6.63% $13,034
LOANDEPOT.COM, LLC 1 6.25% $12,784
Mr. Cooper ( Nationstar Mortgage ) 1 5.63% $8,779
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.50% $10,316
PENTAGON FEDERAL CREDIT UNION 1 4.88% $17,648
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $670
Prosperity Home Mortgage, LLC 1 5.25% $7,001
RUOFF MORTGAGE COMPANY, INC. 1 7.25% $0
SOUTH CENTRAL BANK, INC. 1 7.00% $7,612
Stock Yards Bank & Trust Company 1 5.38% $11,723
THRIVE MORTGAGE, LLC 1 6.13% $5,921
Traditional Bank, Inc. 1 6.13% $4,766
Truist 1 5.60% $5,199
U.S. Bank 1 6.75% $6,582
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.75% $5,274
Wells Fargo Bank 1 6.38% $2,231
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $15,492
AMERISAVE MORTGAGE CORPORATION 1 6.25% $18,136
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 7.25% $4,480
Barrington Bank & Trust Company, N.A. 1 7.75% $3,149
BNC National Bank 1 5.25% $8,411
CALIBER HOME LOANS, INC. 1 6.75% $4,297
CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $11,516
ENDEAVOR CAPITAL, LLC. 1 6.63% $7,342
Fifth Third Bank 1 6.63% $11,420
First Federal Bank 1 6.00% $7,868
FIRST STATE MORTGAGE SERVICES, LLC 1 7.25% $3,698
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.88% $16,034
GUARANTEED RATE, INC. 1 5.75% $3,573
GUARANTY HOME MORTGAGE CORPORATION 1 5.63% $2,776
Guardian Savings Bank, A Federal Savings Bank 1 7.25% $17,051
HOMESIDE FINANCIAL, LLC 1 7.25% $9,321
INTERLINC MORTGAGE SERVICES, LLC 1 6.25% $5,537

The top Frankfort VA lender as defined by loan originations is Mortgage Research Center, LLC, with 25 VA loans originated. Their average total fees are $6,442, which is $2,411 lower than the next largest lender, STOCKTON MORTGAGE CORPORATION.

The lowest fee Frankfort VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,442), .

The lowest rate Frankfort VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.63%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Frankfort (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 $179,900 (20.0%) $234,071 (17.6%) 0.00 246
2018-02-01 $175,200 (7.9%) $233,568 (5.9%) 0.00 229
2018-03-01 $172,450 (6.2%) $230,636 (0.7%) 0.00 222
2018-04-01 $197,450 (19.7%) $252,258 (7.6%) 0.00 223
2018-05-01 $209,375 (26.4%) $256,449 (11.2%) 0.00 245
2018-06-01 $219,000 (27.0%) $262,650 (10.8%) 0.00 251
2018-07-01 $224,900 (25.0%) $265,752 (10.1%) 0.00 283
2018-08-01 $224,975 (25.4%) $267,644 (10.0%) 0.00 296
2018-09-01 $227,500 (27.1%) $269,349 (8.0%) 0.00 285
2018-10-01 $214,100 (16.1%) $265,416 (7.8%) 0.00 276
2018-11-01 $195,829 (7.9%) $251,637 (2.4%) 0.00 268
2018-12-01 $189,900 (4.3%) $246,015 (1.5%) 0.00 256
2019-01-01 $189,075 (5.1%) $235,776 (0.7%) 0.00 247
2019-02-01 $190,950 (9.0%) $251,182 (7.5%) 0.00 239
2019-03-01 $206,943 (20.0%) $265,193 (15.0%) 0.00 224
2019-04-01 $223,375 (13.1%) $282,163 (11.9%) 0.00 208
2019-05-01 $219,900 (5.0%) $282,608 (10.2%) 0.00 211
2019-06-01 $218,000 (-0.5%) $278,600 (6.1%) 0.00 192
2019-07-01 $193,725 (-13.9%) $262,645 (-1.2%) 0.00 219
2019-08-01 $198,691 (-11.7%) $261,111 (-2.4%) 0.00 224
2019-09-01 $205,052 (-9.9%) $262,052 (-2.7%) 0.00 223
2019-10-01 $209,225 (-2.3%) $262,679 (-1.0%) 0.00 233
2019-11-01 $218,400 (11.5%) $282,147 (12.1%) 0.00 241
2019-12-01 $215,900 (13.7%) $287,080 (16.7%) 0.00 236
2020-01-01 $219,250 (16.0%) $287,263 (21.8%) 0.00 216
2020-02-01 $226,750 (18.8%) $299,098 (19.1%) 0.00 191
2020-03-01 $245,236 (18.5%) $305,023 (15.0%) 0.00 174
2020-04-01 $244,639 (9.5%) $303,086 (7.4%) 0.00 165
2020-05-01 $259,860 (18.2%) $334,162 (18.2%) 0.00 158
2020-06-01 $252,000 (15.6%) $357,114 (28.2%) 0.00 131
2020-07-01 $255,425 (31.9%) $349,922 (33.2%) 0.00 134
2020-08-01 $242,120 (21.9%) $320,788 (22.9%) 0.00 122
2020-09-01 $234,650 (14.4%) $317,210 (21.1%) 0.00 117
2020-10-01 $213,450 (2.0%) $312,062 (18.8%) 0.00 123
2020-11-01 $215,900 (-1.1%) $298,751 (5.9%) 0.00 127
2020-12-01 $199,500 (-7.6%) $275,044 (-4.2%) 0.00 126
2021-01-01 $195,000 (-11.1%) $271,927 (-5.3%) 0.00 113
2021-02-01 $250,650 (10.5%) $311,071 (4.0%) 0.00 83
2021-03-01 $252,175 (2.8%) $304,138 (-0.3%) 0.00 74
2021-04-01 $257,400 (5.2%) $286,813 (-5.4%) 0.00 58
2021-05-01 $263,970 (1.6%) $298,726 (-10.6%) 0.00 62
2021-06-01 $229,450 (-9.0%) $285,507 (-20.1%) 0.00 76
2021-07-01 $240,000 (-6.0%) $285,188 (-18.5%) 0.00 98
2021-08-01 $234,975 (-3.0%) $267,570 (-16.6%) 0.00 108
2021-09-01 $240,825 (2.6%) $280,858 (-11.5%) 0.00 124
2021-10-01 $229,900 (7.7%) $280,683 (-10.1%) 0.00 133
2021-11-01 $238,625 (10.5%) $273,328 (-8.5%) 0.00 118
2021-12-01 $229,675 (15.1%) $279,180 (1.5%) 0.00 105
2022-01-01 $222,500 (14.1%) $270,704 (-0.5%) 0.00 94
2022-02-01 $231,975 (-7.5%) $272,826 (-12.3%) 0.00 74
2022-03-01 $268,575 (6.5%) $293,104 (-3.6%) 0.00 62
2022-04-01 $279,900 (8.7%) $263,607 (-8.1%) 0.00 56
2022-05-01 $278,725 (5.6%) $290,312 (-2.8%) 0.00 56
2022-06-01 $279,106 (21.6%) $294,436 (3.1%) 0.00 64
2022-07-01 $279,000 (16.3%) $318,575 (11.7%) 0.00 87
2022-08-01 $282,000 (20.0%) $327,579 (22.4%) 0.00 104
2022-09-01 $296,500 (23.1%) $338,394 (20.5%) 0.00 114
2022-10-01 $294,700 (28.2%) $343,167 (22.3%) 0.00 134
2022-11-01 $287,625 (20.5%) $340,287 (24.5%) 0.00 143
2022-12-01 $285,000 (24.1%) $335,950 (20.3%) 0.00 133
2023-01-01 $310,700 (39.6%) $354,477 (31.0%) 0.00 115
2023-02-01 $299,450 (29.1%) $344,475 (26.3%) 0.00 106
2023-03-01 $317,975 (18.4%) $349,575 (19.3%) 0.00 105
2023-04-01 $315,928 (12.9%) $343,931 (30.5%) 0.00 91
2023-05-01 $327,414 (17.5%) $360,095 (24.0%) 0.00 82
2023-06-01 $351,215 (25.8%) $364,602 (23.8%) 0.00 94
2023-07-01 $333,658 (19.6%) $350,292 (10.0%) 0.00 101
2023-08-01 $324,950 (15.2%) $355,026 (8.4%) 0.00 88
2023-09-01 $287,000 (-3.2%) $343,409 (1.5%) 0.00 103
2023-10-01 $307,200 (4.2%) $349,205 (1.8%) 0.00 112
2023-11-01 $302,975 (5.3%) $349,171 (2.6%) 0.00 117
2023-12-01 $299,900 (5.2%) $337,211 (0.4%) 0.00 105
2024-01-01 $309,900 (-0.3%) $344,113 (-2.9%) 0.00 97
2024-02-01 $304,475 (1.7%) $343,427 (-0.3%) 0.00 87
2024-03-01 $344,950 (8.5%) $349,013 (-0.2%) 0.00 87
2024-04-01 $340,445 (7.8%) $380,689 (10.7%) 0.00 101
2024-05-01 $372,450 (13.8%) $431,743 (19.9%) 0.00 101
2024-06-01 $346,530 (-1.3%) $389,537 (6.8%) 0.00 119
Frankfort's median listing price for 2024-06-01 was $346,530, a difference of $-4,685 (-1.3%) versus the prior year and $-25,920 versus the prior month.

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

Frankfort's average listing price for 2024-06-01 was $389,537, a difference of $24,935 (6.8%) versus the prior year and $-42,206 versus the prior month.

For the 2024-06-01 period, Frankfort had 119 MLS listings, a difference of 18 listings (18%) versus the prior month and 25 listings (27%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Frankfort (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,818 sqft
2018-02-01 0 days 1,788 sqft
2018-03-01 0 days 1,765 sqft
2018-04-01 0 days 1,867 sqft
2018-05-01 0 days 1,960 sqft
2018-06-01 0 days 2,022 sqft
2018-07-01 0 days 2,033 sqft
2018-08-01 0 days 2,077 sqft
2018-09-01 0 days 2,041 sqft
2018-10-01 0 days 1,992 sqft
2018-11-01 0 days 1,890 sqft
2018-12-01 0 days 1,859 sqft
2019-01-01 0 days 1,818 sqft
2019-02-01 0 days 1,850 sqft
2019-03-01 0 days 1,926 sqft
2019-04-01 0 days 2,011 sqft
2019-05-01 0 days 2,024 sqft
2019-06-01 0 days 2,024 sqft
2019-07-01 0 days 1,948 sqft
2019-08-01 0 days 1,898 sqft
2019-09-01 0 days 1,877 sqft
2019-10-01 0 days 1,863 sqft
2019-11-01 0 days 1,874 sqft
2019-12-01 0 days 1,883 sqft
2020-01-01 0 days 1,898 sqft
2020-02-01 0 days 1,975 sqft
2020-03-01 0 days 2,014 sqft
2020-04-01 0 days 2,013 sqft
2020-05-01 0 days 2,039 sqft
2020-06-01 0 days 2,037 sqft
2020-07-01 0 days 2,038 sqft
2020-08-01 0 days 1,943 sqft
2020-09-01 0 days 1,829 sqft
2020-10-01 0 days 1,803 sqft
2020-11-01 0 days 1,817 sqft
2020-12-01 0 days 1,722 sqft
2021-01-01 0 days 1,777 sqft
2021-02-01 0 days 1,916 sqft
2021-03-01 0 days 1,868 sqft
2021-04-01 0 days 1,825 sqft
2021-05-01 0 days 1,804 sqft
2021-06-01 0 days 1,777 sqft
2021-07-01 0 days 1,786 sqft
2021-08-01 0 days 1,764 sqft
2021-09-01 0 days 1,763 sqft
2021-10-01 0 days 1,669 sqft
2021-11-01 0 days 1,660 sqft
2021-12-01 0 days 1,677 sqft
2022-01-01 0 days 1,619 sqft
2022-02-01 0 days 1,571 sqft
2022-03-01 0 days 1,728 sqft
2022-04-01 0 days 1,736 sqft
2022-05-01 0 days 1,732 sqft
2022-06-01 0 days 1,743 sqft
2022-07-01 0 days 1,807 sqft
2022-08-01 0 days 1,830 sqft
2022-09-01 0 days 1,923 sqft
2022-10-01 0 days 1,977 sqft
2022-11-01 0 days 1,892 sqft
2022-12-01 0 days 1,863 sqft
2023-01-01 0 days 2,026 sqft
2023-02-01 0 days 1,972 sqft
2023-03-01 0 days 2,018 sqft
2023-04-01 0 days 1,903 sqft
2023-05-01 0 days 1,916 sqft
2023-06-01 0 days 2,031 sqft
2023-07-01 0 days 2,010 sqft
2023-08-01 0 days 1,936 sqft
2023-09-01 0 days 1,836 sqft
2023-10-01 0 days 1,906 sqft
2023-11-01 0 days 1,829 sqft
2023-12-01 0 days 1,804 sqft
2024-01-01 0 days 1,800 sqft
2024-02-01 0 days 1,756 sqft
2024-03-01 0 days 1,844 sqft
2024-04-01 0 days 1,831 sqft
2024-05-01 0 days 1,957 sqft
2024-06-01 0 days 2,010 sqft
Frankfort's median listing age (time on market) for 2024-06-01 was 0 days.

Frankfort's median square footage for active listings during the 2024-06-01 period was 2,010 sqft. One year prior, the average listing was 2,031 sqft.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.