If you have a credit score between 700 and 719 and can put 5% down, you’ll generally pay about 5.813% for a 30-year conventional loan with a fixed interest rate on a $350,000 home. But how much interest you pay for your Kentucky home will depend on several factors, including your credit score, loan amount and lender.
Rates were last checked on July 6 and are from the Consumer Financial Protection Bureau (CFPB) website.
People with higher credit scores generally get lower interest rates because lenders assume they’re less likely to stop paying a mortgage. Here are the most common interest rates in Kentucky by mortgage amount, according to the Consumer Financial Protection Bureau (CFPB).
| Credit score | $200,000 mortgage | $300,000 mortgage | $400,000 mortgage | $500,000 mortgage |
|---|---|---|---|---|
| 620-639 | 6.125% | 6.063% | 5.938% | 5.750% |
| 640-659 | 5.750% | 5.875% | 6.063% | 5.875% |
| 660-679 | 6.125% | 6.000% | 6.000% | 6.000% |
| 680-699 | 5.938% | 6.000% | 5.938% | 5.938% |
| 700-719 | 5.875% | 5.875% | 5.813% | 5.813% |
| 720-739 | 5.625% | 5.563% | 5.563% | 5.563% |
| 740-759 | 5.500% | 5.500% | 5.500% | 5.500% |
| 760-779 | 5.500% | 5.500% | 5.500% | 5.500% |
| 780-799 | 5.500% | 5.500% | 5.500% | 5.500% |
| 800+ | 5.500% | 5.500% | 5.500% | 5.500% |
Interest rates are affected by the economy and the federal funds rate, or the rate that banks charge each other for overnight loans. But they’re also affected by individual lenders, which can have differing overhead costs, profit margins and credit score requirements. Disclaimer: The partners on Finder's mortgage comparison tables are sorted in alphabetical order.
Comparing lenders can help you find the best deal. Select See rates to provide the company with basic property and financial details for personalized rates.
The type of loan you get can also affect how much you pay for your Kentucky home. 15-year mortgages generally offer lower interest rates than 30-year mortgages, and you’ll see different rates for conventional loans than government loans.
| Loan type | $200,000 mortgage | $300,000 mortgage | $400,000 mortgage | $500,000 mortgage |
|---|---|---|---|---|
| 15-year conventional | 4.875% | 4.875% | 4.875% | 4.750% |
| 30-year conventional | 5.875% | 5.875% | 5.813% | 5.813% |
| 15-year FHA | 5.125% | 5.000% | Not eligible | Not eligible |
| 30-year FHA | 5.625% | 5.500% | Not eligible | Not eligible |
| 15-year VA | 5.125% | 5.000% | 5.000% | 5.000% |
| 30-year VA | 5.500% | 5.563% | 5.438% | 5.313% |
Build a strong credit profile and do your research to make sure you get the best rate possible.
With home values skyrocketing across the nation, it’s no surprise that Kentucky’s values are also expected to grow into 2022. But according to Zillow, the growth will be more conservative than in many other states.
Two cities are forecast to see top increases of slightly more than 10% — Richmond and Louisville-Jefferson County. But Elizabethtown and Lexington are close behind at 9.6%. London is expected to see the most conservative gain of 4.4%.
Kentucky’s growth isn’t all to consider before you make a move. Keep in mind the following as you start your property search:
Mortgage rates in Kentucky vary by loan type, and factors like your credit score and lender affect what rate you get. But factors like your credit score and lender affect what rate you get. Compare mortgage lenders and programs to find one that best fits your homeownership goals.
Breakdown of what you might pay monthly over the life of a $550,000 mortgage.
Learn more about monthly payments and interest on a $500,000 mortgage over 15 or 30 years. Plus, find out how much you need to make to afford repayments.
Breakdown of what you might pay monthly over the life of a $400,000 mortgage.
Breakdown of what you might pay monthly over the life of a $450,000 mortgage.
Breakdown of what you might pay monthly over the life of a $350,000 mortgage.
Breakdown of what you might pay monthly over the life of a $300,000 mortgage.
Breakdown of what you might pay monthly over the life of a $200,000 mortgage.
Breakdown of what you might pay monthly over the life of a $150,000 mortgage.
Breakdown of what you might pay monthly over the life of a $250,000 mortgage.
Breakdown of what you might pay monthly over the life of a $100,000 mortgage.