Current Mortgage Rates in Owensboro, Kentucky

Compare mortgage rates and fees for leading lenders in Owensboro, 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 Owensboro.

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

Mortgage Rates in Owensboro, KY as of October 1, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.


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

October 1, 2020

The current average rate for a 30 year fixed rate mortgage in Owensboro 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
Owensboro, KY Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Owensboro, Kentucky?

Below we provide helpful information on the real estate market, home prices and housing affordability in Owensboro. Understand how much you need to earn to afford a home in Owensboro, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Owensboro 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 Owensboro is right for you.

The median home value for Owensboro, KY (Daviess County) is $151,156

Based on current mortgage rates and a 10% down payment, you need to make $27,204 per year to buy the median priced home in Owensboro

With this income, you could qualify for a $136,040 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 Owensboro is $630

The median household income for Owensboro, KY (Daviess County) is $51,014

Based on this income, you can afford a home valued at approximately $283,452

The home price you can afford to buy based on household income in Owensboro is 188% of the median home value which means housing prices are average. Owensboro (Daviess County) ranks 93 out of 120 counties in Kentucky and 1,812 out of 3,142 counties in the United States for housing affordability.

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


Loan Limits for Owensboro, Kentucky

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

Conforming loan limits for Owensboro, KY

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Owensboro, KY

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Owensboro, KY

1 unit: $510,400

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