»
»
Lexington

Compare Current Lexington, Kentucky Mortgage Rates

Compare Lexington, KY mortgage rates and fees from top lenders. 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 lowest 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.

%
Lexington, KY Mortgage Rates as of May 25, 2024
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees & Points
  • Contact

%
Get Personalized Mortgage Quotes

Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

Get Free Personalized Mortgage Quotes

Compare Today's Lexington, KY Mortgage Rates

May 25, 2024

Current mortgage rates in Lexington, KY are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Lexington, KY Rates
National
Average
Comparison
30 Year Fixed Rate
%
6.669%
15 Year Fixed Rate
%
5.960%
5/1 Adjustable Rate Mortgage
%
6.250%

How Affordable is Housing in Lexington, Kentucky?

Below we provide helpful information on the real estate market, home prices and housing affordability in Lexington. Understand how much you need to earn to afford a home in Lexington, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Lexington fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Lexington is right for you.

The median home value for Lexington, KY (Fayette County) is $273,912

Based on current mortgage rates and a 10% down payment, you need to make $57,142 per year to buy the median priced home in Lexington

With this income, you could qualify for a $246,521 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Lexington is $1,323

The median household income for Lexington, KY (Fayette County) is $61,832

Based on this income, you can afford a home valued at approximately $296,390

The home price you can afford to buy based on household income in Lexington is 108% of the median home value which means housing prices are average. Lexington (Fayette County) ranks 120 out of 120 counties in Kentucky and 2,709 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

orange-simple-house
ruler

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: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Lexington, KY

1 unit: $472,030
2 units: $604,400
3 units: $730,525
4 units: $907,900

VA loan limits for Lexington, KY

1 unit: $726,200

Additional Mortgage Resources for Lexington, KY Residents

Mortgage Rates for Kentucky Cities

Boone Mortgage Rates

Bowling Green Mortgage Rates

Campbell Mortgage Rates

Covington Mortgage Rates

Elizabethtown Mortgage Rates

Lexington Mortgage Rates

Louisville Mortgage Rates

Owensboro Mortgage Rates

Richmond Mortgage Rates

Shepherdsville Mortgage Rates