Compare mortgage rates and fees for leading lenders in Louisville, 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 Louisville.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Louisville. Plus, shopping lenders is free and there is no obligation.
October 23, 2019
The current average rate for a 30 year fixed rate mortgage in Louisville 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%
The median home value for Louisville, KY (Jefferson County) is $184,690
The median household income for Louisville, KY (Jefferson County) is $53,834
Based on current mortgage rates and a 10% down payment, you need to make $34,266 per year to buy the median priced home in Louisville
The home price you can afford to buy based on household income in Louisville is 157% of the median home value which means housing prices are average
Louisville (Jefferson County) ranks 116 out of 120 counties in Kentucky and 2,434 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Louisville, KY is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Louisville (Jefferson County) below.
Conforming loan limits for Louisville, KY
FHA loan limits for Louisville, KY
VA loan limits for Louisville, KY
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