Frankfort VA Loan Rates, Closing Costs & Stats

Frankfort, KY

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    • 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 45 lenders originated 146 VA loans during 2022. The total origination value was $34,960,000, with an average VA loan value of $239,452.

    Frankfort VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Frankfort averaged 6.7% for the week of 2023-09-22, compared to the national average (all VA variants) of 6.823% for the same period.

    Frankfort's average VA mortgage closing costs are $5,288.

    The average rate for the prior week (2023-09-15) was 6.87% and one month ago for the week of 2023-08-18, the average rate was 6.66%.

    The average rate one year ago was 5.52%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.91%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 28 5.28% $5,760
    QUICKEN LOANS, LLC 15 4.33% $10,677
    UNITED WHOLESALE MORTGAGE, LLC 8 3.86% $6,157
    STOCKTON MORTGAGE CORPORATION 7 5.18% $7,411
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 4.85% $7,204
    NEW DAY FINANCIAL, LLC 5 4.49% $15,455
    USAA Federal Savings Bank 5 3.93% $7,260
    NAVY FEDERAL CREDIT UNION 5 3.90% $4,705
    PENNYMAC LOAN SERVICES, LLC 4 2.91% $6,323
    Republic State Mortgage Co. 4 4.34% $10,203
    Mr. Cooper ( Nationstar Mortgage ) 4 5.06% $7,412
    FREEDOM MORTGAGE CORPORATION 3 6.00% $6,572
    LOANDEPOT.COM, LLC 2 3.94% $4,504
    Equity Prime Mortgage LLC 2 4.69% $8,509
    Carrington Mortgage Services, LLC 2 5.19% $10,803
    NEWREZ LLC 2 4.13% $9,172
    PENTAGON FEDERAL CREDIT UNION 2 3.88% $3,405
    Citizens Bank 2 4.50% $6,917
    RUOFF MORTGAGE COMPANY, INC. 2 5.88% $6,861
    The Federal Savings Bank 2 3.06% $12,691
    GENEVA FINANCIAL, LLC 2 3.25% $7,223
    GUARANTY HOME MORTGAGE CORPORATION 2 4.81% $8,309
    CALIBER HOME LOANS, INC. 2 4.73% $6,570
    DAS Acquisition Company, LLC 2 6.06% $2,726
    Hometown Lenders, Inc. 2 5.31% $10,977
    WesBanco 1 5.13% $2,353
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.25% $7,897
    AMERISAVE MORTGAGE CORPORATION 1 4.63% $10,139
    Barrington Bank & Trust Company, N.A. 1 5.13% $12,553
    BAY EQUITY LLC 1 5.25% $6,991
    BROKER SOLUTIONS, INC. 1 4.99% $11,779
    CMG MORTGAGE, INC. 1 3.50% $10,699
    CROSSCOUNTRY MORTGAGE, LLC 1 5.50% $17,513
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 4.75% $10,934
    First Financial Bank 1 6.25% $8,907
    GUARANTEED RATE, INC. 1 6.23% $14,576
    HOME POINT FINANCIAL CORPORATION 1 4.50% $10,132
    HOMESIDE FINANCIAL, LLC 1 4.75% $10,660
    Magnolia Bank 1 2.75% $5,936
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.13% $2,293
    PNC Bank 1 5.63% $1,564
    Prosperity Home Mortgage, LLC 1 3.50% $6,573
    TOP FLITE FINANCIAL, INC. 1 4.50% $7,732
    U.S. Bank 1 3.75% $2,654
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.25% $2,264

    The top Frankfort VA lender as defined by loan originations is Mortgage Research Center, LLC, with 28 VA loans originated. Their average total fees are $5,760, which is $4,916 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Frankfort VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,760), QUICKEN LOANS, LLC ($10,677), .

    The lowest rate Frankfort VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.33%), Mortgage Research Center, LLC (5.28%), .

    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 (20.6%) $234,071 (18.1%) 0.00 246
    2018-02-01 $175,200 (7.9%) $233,568 (6.0%) 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%) 0.00 132
    2021-11-01 $237,500 (10.0%) $273,377 (-8.5%) 0.00 117
    2021-12-01 $229,450 (15.0%) $279,269 (1.5%) 0.00 104
    2022-01-01 $222,500 (14.1%) $270,675 (-0.5%) 0.00 93
    2022-02-01 $228,250 (-8.9%) $272,757 (-12.3%) 0.00 73
    2022-03-01 $266,400 (5.6%) $293,281 (-3.6%) 0.00 61
    2022-04-01 $279,900 (8.7%) $263,289 (-8.2%) 0.00 55
    2022-05-01 $278,725 (5.6%) $290,351 (-2.8%) 0.00 56
    2022-06-01 $275,450 (20.1%) $294,490 (3.2%) 0.00 63
    2022-07-01 $277,000 (15.4%) $317,799 (11.4%) 0.00 85
    2022-08-01 $280,725 (19.5%) $327,885 (22.5%) 0.00 103
    2022-09-01 $296,500 (23.1%) $338,436 (20.5%) 0.00 113
    2022-10-01 $294,700 (28.2%) $343,225 (22.3%) 0.00 134
    2022-11-01 $287,625 (21.1%) $340,287 (24.5%) 0.00 143
    2022-12-01 $285,000 (24.2%) $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 (31.2%) $344,475 (26.3%) 0.00 106
    2023-03-01 $317,975 (19.4%) $349,575 (19.2%) 0.00 105
    2023-04-01 $315,928 (12.9%) $343,931 (30.6%) 0.00 91
    2023-05-01 $327,414 (17.5%) $360,095 (24.0%) 0.00 82
    2023-06-01 $351,215 (27.5%) $364,602 (23.8%) 0.00 94
    2023-07-01 $333,658 (20.5%) $350,292 (10.2%) 0.00 101
    2023-08-01 $324,950 (15.8%) $355,026 (8.3%) 0.00 88
    Frankfort's median listing price for 2023-08-01 was $324,950, a difference of $44,225 (15.8%) versus the prior year and $-8,708 versus the prior month.

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

    Frankfort's average listing price for 2023-08-01 was $355,026, a difference of $27,141 (8.3%) versus the prior year and $4,734 versus the prior month.

    For the 2023-08-01 period, Frankfort had 88 MLS listings, a difference of -13 listings (-13%) versus the prior month and -15 listings (-15%) 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 1,666 sqft
    2021-12-01 0 days 1,690 sqft
    2022-01-01 0 days 1,617 sqft
    2022-02-01 0 days 1,559 sqft
    2022-03-01 0 days 1,733 sqft
    2022-04-01 0 days 1,746 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 1,838 sqft
    2022-09-01 0 days 1,924 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
    Frankfort's median listing age (time on market) for 2023-08-01 was 0 days.

    Frankfort's median square footage for active listings during the 2023-08-01 period was 1,936 sqft. One year prior, the average listing was 1,838 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.