Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Mortgage rates in Kentucky

Rates that come in slightly above the national average.


Fact checked

Mortgage rates during the coronavirus

As mortgage rates fall to record lows in the wake of COVID-19, our partners are seeing an increase in demand for loans and refinancing. As they work through this influx of applications, you may see rates that are higher than expected — or no rates at all. We recommend comparing offers from multiple lenders to ensure you're getting the best deal possible.

Compare mortgage lenders in Alabama

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.

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
USDANot available4.724%

Based on data from

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.

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
Louisville MSA (Bullitt, Henry, Jefferson, Oldham, Shelby and Spencer Counties, KY)4.808%$175,000$920

Based on data from

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.

Frequently asked questions

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site