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Mortgage rates in Kentucky

Rates that come in slightly above the national average.

Editor's choice: Better

  • Quick online preapproval
  • No origination fees
  • Direct lender
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Rates for a 30-year mortgage vary slightly in Kentucky. Conventional loans average 4.821%, while government-backed options average 4.725%. And national interest rates are slated to come in at 4% in the approaching year.

Compare mortgage lenders and brokers

Compare these lenders and lender marketplaces by the type of home loan you're searching for, state availability and minimum credit score (for a conventional loan). Select See rates to provide the company with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
Morty
(NMLS #1429243)
Morty
Conventional, Jumbo, Refinance
AL, AR, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, MD, ME, MI, MN, MS, MT, NC, NE, NJ, NM, OH, OK, OR, PA, SC, TN, VA, WA, WI, WV
660
Preapproval in minutes and closing in as little as 3 weeks with no origination fees.
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: HI, MO, NM, NY, WV
620
No hidden fees, multiple loan terms, and member discounts available.
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
Connect with vetted home loan lenders quickly through this online marketplace.
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How much do Kentucky rates vary by loan?

The average rates for 30-year mortgages ranged from 4.637% to 4.821% in 2018. A few factors, like the type length of the loan can significantly affect the rate you receive. For example, government-insured programs usually have lower interest rates than conventional loans, although conventional options typically have fewer borrower and property constraints.

2018 average rates in Kentucky by loan type

Loan type15-year average rate30-year average rate

Conventional4.559%4.821%
FHA4.203%4.815%
VA3.91%4.637%
USDANot available4.724%

Based on data from ffiec.cfpb.gov.

Even a small difference in the interest rate can mean savings on the overall cost of your loan. For example, a $155,000 conventional mortgage at the average rate of 4.821% could have an estimated monthly payment of about $815, excluding taxes, fees and other costs specific to your loan.

On the other hand, if you got a VA loan with the average 4.637% rate, your monthly payment could drop to $798. Although it’s a difference of only $17 a month, it could add up to a savings of $4,181 over the term of the loan.

Which way are rates trending in Kentucky?

Kentucky mortgage rates should linger near the 4% mark.

Historically, mortgage rates in Kentucky followed or hovered slightly above the national average. The Mortgage Bankers Association, Fannie Mae and Freddie Mac expect national 30-year mortgage rates to remain steady in 2020, with predictions between 3.6% to 3.9%. So, you can expect Kentucky rates to be steady at or slightly above this level.

Compare mortgage rates throughout Kentucky

Average mortgage rates can vary across Kentucky’s metropolitan areas. House prices can also vary depending on the location of the home. That means you might have different monthly payments than your neighbors down the road, even if you both have the same mortgage rate.

We used data from the Home Mortgage Disclosure Act to provide a glimpse of what you might pay on the average 30-year fixed-rate mortgage in different metropolitan areas of Kentucky. Rates and amounts do not account for taxes other mortgage-specific charges.

Metropolitan statistical area (MSA)Average mortgage rateMedian loan amountEstimated monthly cost

Bowling Green4.757%$165,000$860
Cincinnati MSA (Boone, Bracken, Campbell, Gallatin, Grant, Kenton and Pendleton Counties, KY)4.765%$165,000$860
Clarksville MSA (Christian and Trigg Counties, KY)4.742%$125,000$650
Elizabethtown-Fort Knox4.715%$155,000$800
Evansville MSA (Henderson County, KY)4.841%$125,000$660
Huntington MSA (Boyd, Carter and Greenup Counties, KY)4.802%$115,000$600
Lexington-Fayette4.713%$175,000$900
Louisville MSA (Bullitt, Henry, Jefferson, Oldham, Shelby and Spencer Counties, KY)4.808%$175,000$920
Owensboro4.822%$135,000$710

Based on data from ffiec.cfpb.gov.

How to get the best mortgage rate in Kentucky

Build a strong credit profile and do your research to make sure you get the best rate possible.

  1. Compare loan products. There are many different types of home loans for borrowers to choose from in Kentucky. Shop around and make sure you fully understand each option available to you to select the loan that best fits your borrowing needs.
  2. Become a credit superstar. Lenders love when borrowers have strong credit profiles. Take a few months or more to pay down any debt you might have. This can decrease your debt-to-income ratio and increase your credit score.
  3. Don’t forget to weigh the closing costs. Closing costs in Kentucky are about 0.83% and 1.24% of the home price. Include these numbers when comparing lenders and the total cost of the mortgage.

Historical mortgage interest rates in Kentucky

Bottom line

Even though Kentucky mortgage rates trend close to or slightly above the national average, lenders ultimately choose their own rates. Shop around to make sure you’re getting the best deal possible. Compare mortgage products and lenders to keep yourself informed about the loan options available.

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