Somerset Mortgage Rates

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Somerset averaged 5.77% for the week of 2022-06-30, compared to the national average of 5.7% for the same period.

The average rate for the prior week (2022-06-23) was 5.88% and one month ago for the week of 2022-05-26, the average rate was 5.27%.

Somerset's average rate one year ago was 3.44%.

For refis of the same type during the week of 2022-06-30, the average rate was 5.98%.

Loan Type Date Rate
US 30 Year Fixed Rate 2022-06-30 5.7%
Somerset 30 Year Fixed Rate 2022-06-30 5.77%
Somerset 30 Year Fixed Rate Refi 2022-06-30 5.98%
Somerset 15 Year Fixed Rate 2022-06-30 5.8%
Somerset 15 Year Fixed Rate Refi 2022-06-30 5.21%
Somerset 30 Year FHA 2022-06-30 5.8%
Somerset 30 Year FHA Refi 2022-06-30 5.51%
Somerset 30 Year USDA 2022-06-30 5.81%
Somerset 30 Year USDA Refi 2022-06-30 5.63%
Somerset 30 Year VA 2022-06-30 5.65%
Somerset 30 Year VA Refi 2022-06-30 5.4%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Somerset, KY.

Somerset Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lendor, for only loans originated in the Somerset, KY market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
The Citizens National Bank of Somerset 145 3.53% $2,684
L & N Federal Credit Union 70 3.65% $1,915
QUICKEN LOANS, LLC 65 3.19% $4,592
The Monticello Banking Company 36 3.27% $2,127
Community Trust Bank, Inc. 29 3.13% $2,046
Republic State Mortgage Co. 23 3.15% $2,956
Forcht Bank 18 3.35% $2,075
AMERIFIRST FINANCIAL CORPORATION 14 3.24% $3,360
STOCKTON MORTGAGE CORPORATION 13 3.32% $3,018
Truist Bank 12 3.09% $3,101
UNITED WHOLESALE MORTGAGE, LLC 11 2.99% $4,833
FREEDOM MORTGAGE CORPORATION 8 3.31% $3,191
Fifth Third Bank 7 3.10% $4,844
ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 3.45% $3,472
Wells Fargo Bank 7 3.09% $2,558
Bank of England 6 2.96% $3,742
First Option Mortgage, LLC 6 3.13% $3,298
U.S. Bank 5 3.05% $3,674
NEWREZ LLC 5 3.45% $3,988
LOANDEPOT.COM, LLC 5 3.35% $5,064
DAS Acquisition Company, LLC 5 3.33% $3,656
Flagstar Bank, FSB 5 3.34% $3,528
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 3.09% $3,115
COMMONWEALTH 4 3.00% $2,132
HOME POINT FINANCIAL CORPORATION 4 3.28% $3,910
GENEVA FINANCIAL, LLC 4 3.22% $3,330
BROKER SOLUTIONS, INC. 4 3.28% $4,583
AMERISAVE MORTGAGE CORPORATION 4 3.00% $7,480
PENNYMAC LOAN SERVICES, LLC 4 3.34% $4,418
JPMorgan Chase Bank 4 3.00% $4,082
SOUTH CENTRAL BANK, INC. 3 2.88% $2,921
BETTER MORTGAGE CORPORATION 3 2.83% $3,967
HOMESIDE FINANCIAL, LLC 3 3.21% $4,222
ROYAL UNITED MORTGAGE LLC 3 3.54% $5,739
Farm Credit Mid-America, ACA 3 3.42% $7,311
CRESCENT MORTGAGE COMPANY 2 4.00% $2,617
Bank of America 2 3.31% $7,116
CALIBER HOME LOANS, INC. 2 3.45% $3,358
Central Bank & Trust Company 2 2.63% $2,058
Citizens Union Bank of Shelbyville 2 3.25% $2,185
EMM LOANS LLC 2 3.00% $7,011
FIRST COMMUNITY MORTGAGE, INC. 2 4.06% $2,484
GUARANTEED RATE, INC. 2 3.44% $3,271
Guardian Savings Bank, A Federal Savings Bank 2 3.13% $754
Hometown Lenders, Inc. 2 3.19% $2,791
MUTUAL OF OMAHA MORTGAGE, INC. 2 3.50% $3,073
PLANET HOME LENDING, LLC 2 3.63% $3,096
POLARIS HOME FUNDING CORP. 2 3.69% $3,479
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.38% $3,830
Union Savings Bank 2 3.00% $1,057
WesBanco Bank, Inc. 2 2.94% $3,860
GUARANTY HOME MORTGAGE CORPORATION 1 3.13% $3,019
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.00% $3,872
HAMILTON HOME LOANS, INC. 1 3.88% $3,881
Evolve Bank & Trust 1 3.00% $3,097
EVERETT FINANCIAL, INC. 1 3.50% $1,847
AMERICAN MORTGAGE SERVICE COMPANY 1 3.75% $2,553
ENVOY MORTGAGE, LTD 1 3.63% $2,444
KELLER MORTGAGE, LLC 1 3.25% $1,916
Kentucky Bank 1 3.00% $1,962
LENOX FINANCIAL MORTGAGE CORPORATION 1 2.88% $2,883
Liberty National Bank 1 2.50% $2,508
EASTMAN 1 4.00% $3,352
AMCAP MORTGAGE, LTD. 1 3.38% $5,079
Magnolia Bank 1 3.50% $3,802
MEMBERS HERITAGE Credit Union 1 2.75% $2,700
MICHIGAN MUTUAL, INC. 1 3.50% $2,891
MORTGAGE ACCESS CORP. 1 3.13% $2,798
Mortgage Research Center, LLC 1 2.75% $3,606
MORTGAGE SUPPLIERS, INC. 1 3.50% $7,262
MOVEMENT MORTGAGE, LLC 1 3.75% $3,166
Mr. Cooper ( Nationstar Mortgage ) 1 3.38% $3,975
Warsaw Federal Savings and Loan Association 1 3.00% $2,825
NATIONS RELIABLE LENDING, LLC 1 3.88% $4,545
NAVY FEDERAL CREDIT UNION 1 3.88% $1,795
Cornerstone National Bank & Trust Company 1 3.13% $391
North American Savings Bank, F.S.B. 1 5.25% $5,308
PARK COMMUNITY CREDIT UNION, INC. 1 3.00% $2,421
Commonwealth Bank and Trust Company 1 2.88% $2,612
AMERICAN FINANCING CORPORATION 1 2.75% $1,695
PNC Bank 1 3.00% $3,619
Wyndham Capital Mortgage, Inc. 1 2.88% $2,360
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.25% $4,037
Willamette Valley Bank 1 3.25% $3,071
Commercial Bank 1 3.74% $1,745
Republic Bank & Trust Company 1 2.88% $2,625
Citizens Bank 1 2.88% $6,992
Cincinnati Federal 1 3.38% $2,024
RUOFF MORTGAGE COMPANY, INC. 1 3.13% $2,572
Carrington Mortgage Services, LLC 1 3.38% $3,183
Stifel Bank and Trust 1 2.88% $2,827
Axos Bank 1 3.13% $2,847
Stock Yards Bank & Trust Company 1 2.75% $1,820
Strong Home Mortgage, LLC 1 2.99% $1,564
SWBC MORTGAGE CORPORATION 1 3.25% $2,792
ARC HOME LLC 1 3.28% $14,518
THE EQUITABLE MORTGAGE CORPORATION 1 3.00% $2,020
The Huntington National Bank 1 2.58% $5,013
AmeriHome Mortgage Company, LLC 1 3.99% $3,972
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.63% $3,478
UBS Bank USA 1 3.63% $3,507
First Merchants Bank 1 3.00% $2,892
First Savings Bank 1 2.88% $3,542
First Guaranty Mortgage Corporation 1 3.88% $12,295
Flanagan State Bank 1 3.00% $10,577
First Financial Bank 1 2.88% $3,355
First Bank Richmond 1 2.88% $6,173
FINANCE OF AMERICA MORTGAGE LLC 1 3.25% $3,570
GUARANTEED RATE AFFINITY, LLC 1 2.88% $3,284
WRIGHT-PATT CREDIT UNION, INC. 1 3.00% $3,261

Somerset, KY's 110 lenders originated 1,762 loans during 2021. The total origination value was $288,340,000, with an average loan value of $163,644.

The top Somerset lender as defined by loan originations is The Citizens National Bank of Somerset, with 145 loans originated. Their average total fees are $2,684, which is $769 higher than the next largest lender, L & N Federal Credit Union.

The lowest fee Somerset lenders (with over 10 loans originated) are L & N Federal Credit Union ($1,915), Community Trust Bank, Inc. ($2,046), Forcht Bank ($2,075), The Monticello Banking Company ($2,127) and The Citizens National Bank of Somerset ($2,684).

The lowest rate Somerset lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (2.99%), Truist Bank (3.09%), Community Trust Bank, Inc. (3.13%), Republic State Mortgage Co. (3.15%) and QUICKEN LOANS, LLC (3.19%).

Somerset, KY Lender Market Share & Volume

Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

Name 2020 Loan Value 2021 Loan Value % Change 2021 Market Share
The Citizens National Bank of Somerset $66,675,000 $43,910,000 -34.1% 15.2%
QUICKEN LOANS, LLC $23,450,000 $29,240,000 24.7% 10.1%
L & N Federal Credit Union $15,890,000 $13,365,000 -15.9% 4.6%
Republic State Mortgage Co. $7,935,000 $12,060,000 52.0% 4.2%
Community Trust Bank, Inc. $9,110,000 $11,260,000 23.6% 3.9%
The Monticello Banking Company $15,710,000 $10,640,000 -32.3% 3.7%
FREEDOM MORTGAGE CORPORATION $8,030,000 $9,165,000 14.1% 3.2%
Forcht Bank $8,065,000 $7,975,000 -1.1% 2.8%
Mortgage Research Center, LLC $6,935,000 $7,475,000 7.8% 2.6%
First Option Mortgage, LLC $1,125,000 $5,690,000 405.8% 2.0%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $5,590,000 $5,570,000 -0.4% 1.9%
STOCKTON MORTGAGE CORPORATION $10,350,000 $5,095,000 -50.8% 1.8%
Truist Bank $4,095,000 $4,985,000 21.7% 1.7%
AMERIFIRST FINANCIAL CORPORATION $2,885,000 $4,975,000 72.4% 1.7%
UNITED WHOLESALE MORTGAGE, LLC $1,085,000 $4,775,000 340.1% 1.7%
SOUTH CENTRAL BANK, INC. $5,470,000 $4,425,000 -19.1% 1.5%
U.S. Bank $2,255,000 $3,610,000 60.1% 1.3%
NEW DAY FINANCIAL, LLC $3,280,000 $3,485,000 6.3% 1.2%
PENNYMAC LOAN SERVICES, LLC $1,770,000 $3,450,000 94.9% 1.2%
The Farmers Bank $105,000 $3,405,000 3,142.9% 1.2%
AMERISAVE MORTGAGE CORPORATION $1,760,000 $2,860,000 62.5% 1.0%
Wells Fargo Bank $1,395,000 $2,845,000 103.9% 1.0%
Fifth Third Bank $695,000 $2,830,000 307.2% 1.0%
Cumberland Valley National Bank & Trust Company $6,020,000 $2,660,000 -55.8% 0.9%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,400,000 $2,535,000 81.1% 0.9%
First Southern National Bank $7,095,000 $2,470,000 -65.2% 0.9%
Farm Credit Mid-America, ACA $2,645,000 $2,460,000 -7.0% 0.9%
LOANDEPOT.COM, LLC $480,000 $2,460,000 412.5% 0.9%
NAVY FEDERAL CREDIT UNION $550,000 $2,295,000 317.3% 0.8%
HOME POINT FINANCIAL CORPORATION $545,000 $2,255,000 313.8% 0.8%
VANDERBILT MORTGAGE AND FINANCE, INC. $2,565,000 $2,095,000 -18.3% 0.7%
USAA Federal Savings Bank $2,920,000 $2,085,000 -28.6% 0.7%
POLARIS HOME FUNDING CORP. $1,670,000 $2,065,000 23.7% 0.7%
Bank of England $4,680,000 $2,005,000 -57.2% 0.7%
JPMorgan Chase Bank $1,390,000 $1,885,000 35.6% 0.7%
Guardian Savings Bank, A Federal Savings Bank $825,000 $1,820,000 120.6% 0.6%
21ST MORTGAGE CORPORATION $1,800,000 $1,715,000 -4.7% 0.6%
Mr. Cooper ( Nationstar Mortgage ) $920,000 $1,705,000 85.3% 0.6%
BROKER SOLUTIONS, INC. $725,000 $1,470,000 102.8% 0.5%
PLANET HOME LENDING, LLC $420,000 $1,390,000 231.0% 0.5%
MORTGAGE SUPPLIERS, INC. $1,565,000 $1,335,000 -14.7% 0.5%
PNC Bank $300,000 $1,195,000 298.3% 0.4%
CALIBER HOME LOANS, INC. $1,770,000 $1,190,000 -32.8% 0.4%
Flagstar Bank, FSB $430,000 $1,155,000 168.6% 0.4%
Magnolia Bank $1,125,000 $1,150,000 2.2% 0.4%
MUTUAL OF OMAHA MORTGAGE, INC. $620,000 $995,000 60.5% 0.3%
NEWREZ LLC $630,000 $945,000 50.0% 0.3%
COMMONWEALTH $2,400,000 $910,000 -62.1% 0.3%
PRIMELENDING, A PLAINSCAPITAL COMPANY $500,000 $905,000 81.0% 0.3%
ENVOY MORTGAGE, LTD $865,000 $885,000 2.3% 0.3%
The Huntington National Bank $1,235,000 $825,000 -33.2% 0.3%
ROYAL UNITED MORTGAGE LLC $1,080,000 $800,000 -25.9% 0.3%
VILLAGE CAPITAL & INVESTMENT LLC $620,000 $790,000 27.4% 0.3%
DAS Acquisition Company, LLC $515,000 $755,000 46.6% 0.3%
Warsaw Federal Savings and Loan Association $750,000 n/a 0.3%
Hometown Lenders, Inc. $300,000 $740,000 146.7% 0.3%
GENEVA FINANCIAL, LLC $730,000 n/a 0.3%
Stock Yards Bank & Trust Company $715,000 n/a 0.2%
AMERICAN PACIFIC MORTGAGE CORPORATION $685,000 n/a 0.2%
Bank of America $755,000 $680,000 -9.9% 0.2%
Central Bank & Trust Company $555,000 $675,000 21.6% 0.2%
BETTER MORTGAGE CORPORATION $115,000 $670,000 482.6% 0.2%
Barrington Bank & Trust Company, N.A. $380,000 $665,000 75.0% 0.2%
ARC HOME LLC $645,000 n/a 0.2%
German American Bank $205,000 $640,000 212.2% 0.2%
UNIVERSITY OF KENTUCKY $340,000 $620,000 82.4% 0.2%
WesBanco Bank, Inc. $610,000 n/a 0.2%
MOVEMENT MORTGAGE, LLC $990,000 $585,000 -40.9% 0.2%
TOP FLITE FINANCIAL, INC. $575,000 n/a 0.2%
Citizens Bank $95,000 $570,000 500.0% 0.2%
LAKEVIEW LOAN SERVICING, LLC $370,000 $565,000 52.7% 0.2%
Union Savings Bank $1,135,000 $565,000 -50.2% 0.2%
AmeriHome Mortgage Company, LLC $155,000 $550,000 254.8% 0.2%
CREDIT HUMAN FEDERAL CREDIT UNION $110,000 $540,000 390.9% 0.2%
BNC National Bank $535,000 n/a 0.2%
ROSS MORTGAGE CORPORATION $525,000 n/a 0.2%
PRIMARY RESIDENTIAL MORTGAGE, INC. $445,000 $520,000 16.9% 0.2%
Sierra Pacific Mortgage Company, Inc. $165,000 $520,000 215.2% 0.2%
EVERETT FINANCIAL, INC. $510,000 n/a 0.2%
HOMESIDE FINANCIAL, LLC $115,000 $470,000 308.7% 0.2%
First Financial Bank $125,000 $465,000 272.0% 0.2%
GoPrime Mortgage, Inc. $210,000 $465,000 121.4% 0.2%
Nations Lending Corporation $465,000 n/a 0.2%
AMERICAN FINANCIAL RESOURCES, INC. $95,000 $455,000 378.9% 0.2%
RUOFF MORTGAGE COMPANY, INC. $375,000 $450,000 20.0% 0.2%
First Guaranty Mortgage Corporation $145,000 $440,000 203.4% 0.2%
GUARANTEED RATE, INC. $445,000 $440,000 -1.1% 0.2%
AMERICAN MORTGAGE SERVICE COMPANY $715,000 $415,000 -42.0% 0.1%
First Bank Richmond $415,000 n/a 0.1%
Northpointe Bank $125,000 $415,000 232.0% 0.1%
Atlantic Union Bank $405,000 n/a 0.1%
Paramount Residential Mortgage Group, Inc. $405,000 n/a 0.1%
EMM LOANS LLC $360,000 n/a 0.1%
United Cumberland Bank $125,000 $350,000 180.0% 0.1%
Capital Bank $345,000 n/a 0.1%
Flanagan State Bank $345,000 n/a 0.1%
AMERICAN FINANCING CORPORATION $340,000 n/a 0.1%
EVANSVILLE TEACHERS $880,000 $325,000 -63.1% 0.1%
FIRST COMMUNITY MORTGAGE, INC. $165,000 $325,000 97.0% 0.1%
AMCAP MORTGAGE, LTD. $165,000 $320,000 93.9% 0.1%
MORTGAGE ACCESS CORP. $315,000 n/a 0.1%
The Federal Savings Bank $355,000 $300,000 -15.5% 0.1%
CRESCENT MORTGAGE COMPANY $295,000 n/a 0.1%
S1L, Inc. $295,000 n/a 0.1%
UBS Bank USA $295,000 n/a 0.1%
Cornerstone National Bank & Trust Company $285,000 n/a 0.1%
SPRING EQ, LLC $280,000 n/a 0.1%
PARK COMMUNITY CREDIT UNION, INC. $330,000 $275,000 -16.7% 0.1%
MEMBERS HERITAGE Credit Union $270,000 n/a 0.1%
Arvest Bank $175,000 $265,000 51.4% 0.1%
HAMILTON HOME LOANS, INC. $265,000 n/a 0.1%
NATIONS RELIABLE LENDING, LLC $135,000 $265,000 96.3% 0.1%
Wyndham Capital Mortgage, Inc. $275,000 $255,000 -7.3% 0.1%
Citizens Union Bank of Shelbyville $250,000 n/a 0.1%
SOUTHPOINT FINANCIAL SERVICES, INC. $520,000 $250,000 -51.9% 0.1%
AMERICAN FINANCIAL NETWORK, INC. $270,000 $225,000 -16.7% 0.1%
Axos Bank $225,000 n/a 0.1%
GUARANTY HOME MORTGAGE CORPORATION $140,000 $225,000 60.7% 0.1%
HOMEBRIDGE FINANCIAL SERVICES, INC. $225,000 n/a 0.1%
Peoples Exchange Bank $75,000 $225,000 200.0% 0.1%
Stifel Bank and Trust $225,000 n/a 0.1%
Gateway First Bank $95,000 $215,000 126.3% 0.1%
North American Savings Bank, F.S.B. $215,000 n/a 0.1%
Carrington Mortgage Services, LLC $685,000 $210,000 -69.3% 0.1%
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $205,000 n/a 0.1%
WRIGHT-PATT CREDIT UNION, INC. $375,000 $200,000 -46.7% 0.1%
FLAT BRANCH MORTGAGE, INC. $195,000 n/a 0.1%
BAYSHORE MORTGAGE FUNDING, LLC $185,000 n/a 0.1%
Citizens Commerce Bank $185,000 n/a 0.1%
EASTMAN $75,000 $185,000 146.7% 0.1%
Strong Home Mortgage, LLC $185,000 n/a 0.1%
GUARANTEED RATE AFFINITY, LLC $175,000 n/a 0.1%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $970,000 $165,000 -83.0% 0.1%
Republic Bank & Trust Company $515,000 $165,000 -68.0% 0.1%
ZILLOW HOME LOANS, LLC $165,000 n/a 0.1%
1st National Bank $155,000 n/a 0.1%
GUILD MORTGAGE COMPANY $155,000 n/a 0.1%
Independence Bank of Kentucky $155,000 n/a 0.1%
Low VA Rates, LLC $145,000 $155,000 6.9% 0.1%
Superior Credit Union, Inc. $95,000 $155,000 63.2% 0.1%
LENDINGHOME FUNDING CORPORATION $435,000 $150,000 -65.5% 0.1%
CHURCHILL MORTGAGE CORPORATION $460,000 $145,000 -68.5% 0.1%
First Merchants Bank $145,000 n/a 0.1%
GERSHMAN INVESTMENT CORP. $145,000 n/a 0.1%
Willamette Valley Bank $145,000 n/a 0.1%
Peoples Bank of East Tennessee $125,000 n/a 0.0%
The Cecilian Bank $125,000 n/a 0.0%
THE EQUITABLE MORTGAGE CORPORATION $125,000 n/a 0.0%
The Park National Bank $125,000 n/a 0.0%
Evolve Bank & Trust $115,000 n/a 0.0%
Commonwealth Bank and Trust Company $175,000 $105,000 -40.0% 0.0%
DRAPER AND KRAMER MORTGAGE CORP. $105,000 n/a 0.0%
KELLER MORTGAGE, LLC $175,000 $105,000 -40.0% 0.0%
Regions Bank $525,000 $105,000 -80.0% 0.0%
Ally Bank $115,000 $95,000 -17.4% 0.0%
FINANCE OF AMERICA MORTGAGE LLC $705,000 $95,000 -86.5% 0.0%
HOMESTAR FINANCIAL CORPORATION $95,000 n/a 0.0%
Kentucky Bank $210,000 $95,000 -54.8% 0.0%
LENOX FINANCIAL MORTGAGE CORPORATION $95,000 n/a 0.0%
First Savings Bank $360,000 $85,000 -76.4% 0.0%
MICHIGAN MUTUAL, INC. $85,000 n/a 0.0%
Commercial Bank $75,000 n/a 0.0%
Liberty National Bank $75,000 n/a 0.0%
Mountain Commerce Bank $55,000 $75,000 36.4% 0.0%
PARTNERS 1ST Federal Credit Union $75,000 n/a 0.0%
RELIANCE FIRST CAPITAL, LLC $415,000 $75,000 -81.9% 0.0%
Whitaker Bank $75,000 n/a 0.0%
ASHLAND Credit Union $65,000 n/a 0.0%
Cincinnati Federal $55,000 n/a 0.0%
Citibank $55,000 n/a 0.0%
NUMARK CREDIT UNION $35,000 $55,000 57.1% 0.0%
SWBC MORTGAGE CORPORATION $55,000 n/a 0.0%
UNION HOME MORTGAGE CORP. $390,000 $45,000 -88.5% 0.0%
Abound Federal Credit Union $510,000 $35,000 -93.1% 0.0%
Centier Bank $45,000 $35,000 -22.2% 0.0%
TRIAD FINANCIAL SERVICES, INC. $35,000 n/a 0.0%
MIAMI UNIVERSITY COMMUNITY $15,000 n/a 0.0%

Somerset's top lender by overall market share is The Citizens National Bank of Somerset, with 15.2% market share. In second place, with 10.1%, is QUICKEN LOANS, LLC, having originated $29,240,000 in loans. In third place, with 4.6%, is L & N Federal Credit Union, having originated $13,365,000 in loans. In third place, with 4.2%, is Republic State Mortgage Co., having originated $12,060,000 in loans. In third place, with 3.9%, is Community Trust Bank, Inc., having originated $11,260,000 in loans.


Somerset, KY Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 859 $155,165,000 $180,634
Refi 556 $84,890,000 $152,680
Cash Out Refi 259 $40,475,000 $156,274
Other 45 $4,725,000 $105,000
Home Improvement 43 $3,085,000 $71,744

Somerset's most frequently cited loan purpose was Home Purchase, with 859 originations. The 2nd most popular reason was Refi, with 556 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
3-4% 657 $111,705,000 $170,023
2.5-3% 554 $98,480,000 $177,762
<2.5% 256 $41,340,000 $161,484
4-5% 171 $21,785,000 $127,398
5-6% 47 $3,975,000 $84,574
Over 8% 21 $1,615,000 $76,905
6-7% 16 $1,530,000 $95,625
7-8% 14 $1,110,000 $79,286

During 2021, Somerset's most frequently originated rate bucket was 3-4%, with 657 originations.

Loan Sizing (Somerset, KY MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 859 $125,435,000 $146,024
$100,000 or less 456 $30,730,000 $67,390
$200k-400k 398 $104,460,000 $262,462
$400k-600k 41 $19,535,000 $476,463
$600k-1000k 7 $4,775,000 $682,143
$Over $1MM 1 $3,405,000 $3,405,000

Somerset's loan sizing saw the bucket of loans from $100k-200k with 859 originations, totaling $125,435,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 712 $130,040,000 $182,640
60-80% 536 $92,810,000 $173,153
40-60% 221 $28,075,000 $127,036
20-40% 113 $10,375,000 $91,814
Under 20% 59 $2,265,000 $38,390
Over 100% 26 $6,140,000 $236,154

Somerset's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 712 originations, totaling $130,040,000 in origination value.


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Somerset (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 $159,900 (0.0%) $207,485 (-0.4%) 0.00 0
2018-02-01 $159,900 (0.0%) $207,381 (-0.2%) 0.00 0
2018-03-01 $159,900 (-0.2%) $215,344 (2.6%) 0.00 0
2018-04-01 $167,850 (-1.2%) $214,582 (-1.6%) 0.00 0
2018-05-01 $169,950 (0.0%) $215,957 (-0.6%) 0.00 0
2018-06-01 $175,000 (3.0%) $216,325 (0.5%) 0.00 0
2018-07-01 $179,000 (5.9%) $215,776 (1.5%) 0.00 0
2018-08-01 $175,450 (3.3%) $211,663 (-3.5%) 0.00 0
2018-09-01 $179,800 (5.8%) $217,954 (-1.2%) 0.00 0
2018-10-01 $179,450 (5.6%) $219,326 (1.6%) 0.00 0
2018-11-01 $178,450 (5.0%) $220,399 (1.9%) 0.00 0
2018-12-01 $179,000 (9.9%) $224,449 (4.4%) 0.00 0
2019-01-01 $172,500 (7.9%) $219,447 (5.8%) 0.00 0
2019-02-01 $174,900 (9.4%) $219,875 (6.0%) 0.00 0
2019-03-01 $171,928 (7.5%) $217,367 (0.9%) 0.00 0
2019-04-01 $174,179 (3.8%) $216,687 (1.0%) 0.00 0
2019-05-01 $173,700 (2.2%) $215,157 (-0.4%) 0.00 0
2019-06-01 $179,900 (2.8%) $220,489 (1.9%) 0.00 0
2019-07-01 $179,900 (0.5%) $221,569 (2.7%) 0.00 0
2019-08-01 $184,186 (5.0%) $226,117 (6.8%) 0.00 0
2019-09-01 $189,186 (5.2%) $233,523 (7.1%) 0.00 0
2019-10-01 $188,450 (5.0%) $232,915 (6.2%) 0.00 0
2019-11-01 $184,900 (3.6%) $230,637 (4.6%) 0.00 0
2019-12-01 $182,450 (1.9%) $230,465 (2.7%) 0.00 0
2020-01-01 $179,900 (4.3%) $230,389 (5.0%) 0.00 0
2020-02-01 $188,500 (7.8%) $246,577 (12.1%) 0.00 0
2020-03-01 $192,400 (11.9%) $247,749 (14.0%) 0.00 0
2020-04-01 $199,800 (14.7%) $249,971 (15.4%) 0.00 0
2020-05-01 $194,500 (12.0%) $243,440 (13.2%) 0.00 0
2020-06-01 $207,450 (15.3%) $262,065 (18.9%) 0.00 0
2020-07-01 $199,900 (11.1%) $259,935 (17.3%) 0.00 0
2020-08-01 $219,000 (18.9%) $271,093 (19.9%) 0.00 0
2020-09-01 $222,450 (17.6%) $287,791 (23.2%) 0.00 0
2020-10-01 $219,000 (16.2%) $280,106 (20.3%) 0.00 0
2020-11-01 $219,950 (19.0%) $294,653 (27.8%) 0.00 0
2020-12-01 $229,000 (25.5%) $287,559 (24.8%) 0.00 0
2021-01-01 $215,000 (19.5%) $286,391 (24.3%) 0.00 0
2021-02-01 $199,900 (6.1%) $297,423 (20.6%) 0.00 0
2021-03-01 $241,950 (25.8%) $352,380 (42.2%) 0.00 0
2021-04-01 $247,450 (23.9%) $359,214 (43.7%) 0.00 0
2021-05-01 $269,000 (38.3%) $365,339 (50.1%) 0.00 0
2021-06-01 $279,900 (34.9%) $361,561 (38.0%) 0.00 0
2021-07-01 $283,950 (42.1%) $363,448 (39.8%) 0.00 0
2021-08-01 $287,450 (31.3%) $365,563 (34.9%) 0.00 0
2021-09-01 $274,450 (23.4%) $353,435 (22.8%) 0.00 0
2021-10-01 $269,900 (23.2%) $347,905 (24.2%) 0.00 0
2021-11-01 $249,900 (13.6%) $322,142 (9.3%) 0.00 0
2021-12-01 $249,400 (8.9%) $329,125 (14.5%) 0.00 0
2022-01-01 $248,900 (15.8%) $323,165 (12.8%) 0.00 0
2022-02-01 $245,500 (22.8%) $290,646 (-2.3%) 0.00 0
2022-03-01 $239,950 (-0.8%) $290,284 (-17.6%) 0.00 0
2022-04-01 $249,900 (1.0%) $297,461 (-17.2%) 0.00 0
2022-05-01 $244,450 (-9.1%) $307,061 (-16.0%) 0.00 0
2022-06-01 $258,400 (-7.7%) $316,917 (-12.4%) 0.00 0
Somerset's median listing price for 2022-06-01 was $258,400, a difference of $-21,500 (-7.7%) versus the prior year and $13,950 versus the prior month.

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

Somerset's average listing price for 2022-06-01 was $316,917, a difference of $-44,644 (-12.4%) versus the prior year and $9,856 versus the prior month.

For the 2022-06-01 period, Somerset had 0 MLS listings, a difference of 0 listings versus the prior month and 0 listings versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Somerset (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,904 sqft
2018-02-01 0 days 1,947 sqft
2018-03-01 0 days 2,000 sqft
2018-04-01 0 days 1,980 sqft
2018-05-01 0 days 1,936 sqft
2018-06-01 0 days 1,907 sqft
2018-07-01 0 days 1,907 sqft
2018-08-01 0 days 1,856 sqft
2018-09-01 0 days 1,879 sqft
2018-10-01 0 days 1,866 sqft
2018-11-01 0 days 1,910 sqft
2018-12-01 0 days 1,905 sqft
2019-01-01 0 days 1,847 sqft
2019-02-01 0 days 1,858 sqft
2019-03-01 0 days 1,807 sqft
2019-04-01 0 days 1,773 sqft
2019-05-01 0 days 1,919 sqft
2019-06-01 0 days 1,960 sqft
2019-07-01 0 days 2,000 sqft
2019-08-01 0 days 2,021 sqft
2019-09-01 0 days 2,035 sqft
2019-10-01 0 days 2,019 sqft
2019-11-01 0 days 2,010 sqft
2019-12-01 0 days 2,000 sqft
2020-01-01 0 days 1,962 sqft
2020-02-01 0 days 2,000 sqft
2020-03-01 0 days 2,000 sqft
2020-04-01 0 days 2,050 sqft
2020-05-01 0 days 2,016 sqft
2020-06-01 0 days 2,079 sqft
2020-07-01 0 days 2,082 sqft
2020-08-01 0 days 2,149 sqft
2020-09-01 0 days 2,264 sqft
2020-10-01 0 days 2,100 sqft
2020-11-01 0 days 2,187 sqft
2020-12-01 0 days 2,125 sqft
2021-01-01 0 days 2,100 sqft
2021-02-01 0 days 2,028 sqft
2021-03-01 0 days 2,232 sqft
2021-04-01 0 days 2,212 sqft
2021-05-01 0 days 2,111 sqft
2021-06-01 0 days 2,239 sqft
2021-07-01 0 days 2,137 sqft
2021-08-01 0 days 2,165 sqft
2021-09-01 0 days 2,000 sqft
2021-10-01 0 days 1,998 sqft
2021-11-01 0 days 1,912 sqft
2021-12-01 0 days 1,870 sqft
2022-01-01 0 days 1,870 sqft
2022-02-01 0 days 1,858 sqft
2022-03-01 0 days 1,816 sqft
2022-04-01 0 days 1,988 sqft
2022-05-01 0 days 1,830 sqft
2022-06-01 0 days 1,952 sqft
Somerset's median listing age (time on market) for 2022-06-01 was 0 days.

Somerset's median square footage for active listings during the 2022-06-01 period was 1,952 sqft. One year prior, the average listing was 2,239 sqft.