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Lexington

Current Mortgage Rates in Lexington, Kentucky

Compare mortgage rates and fees for leading lenders in Lexington, KY. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Lexington.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Lexington. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Lexington, KY as of December 11, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Lexington, KY Mortgage Rates Compare?

December 11, 2019

The current average rate for a 30 year fixed rate mortgage in Lexington is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Lexington, KY Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Lexington, Kentucky?

The median home value for Lexington, KY (Fayette County) is $202,948

The median household income for Lexington, KY (Fayette County) is $54,634

Based on current mortgage rates and a 10% down payment, you need to make $37,653 per year to buy the median priced home in Lexington

The home price you can afford to buy based on household income in Lexington is 145% of the median home value which means housing prices are average

Lexington (Fayette County) ranks 120 out of 120 counties in Kentucky and 2,606 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Lexington, KY is average

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Loan Limits for Lexington, Kentucky

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Lexington (Fayette County) below.

Conforming loan limits for Lexington, KY

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Lexington, KY

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Lexington, KY

1 unit: $484,350

Additional Mortgage Resources for Lexington, KY Residents

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Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index