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Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
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Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Requires veteran or military eligibility
Loan amount is under conforming limits
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 6.849%APR 6.883% | 0 pts$0 | $3,206/moP&I $3,206 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.980%APR 6.748% | 0 pts$0 | $3,207/moP&I $2,978 · MI $228 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.910%APR 5.958% | 0 pts$0 | $2,905/moP&I $2,905 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.812%APR 6.847% | 0 pts$0 | $3,194/moP&I $3,194 · MI $0 | See details |
| Investment Property FixedConforming | 7.547%APR 7.586% | 0 pts$0 | $3,437/moP&I $3,437 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 5.910% | 5.958% | 0 pts ($0) | $4,105/mo | $81,184 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.889% | 5.938% | 0 pts ($0) | $5,124/mo | $113,034 |
Condo 10% Down | 10% | 720 credit score | 7.065% | 7.230% | 0 pts ($0) | $3,686/mo | $128,935 |
Conventional 10% Down | 10% | 720 credit score | 6.540% | 6.693% | 0 pts ($0) | $3,494/mo | $120,228 |
Conventional 20% Down | 20% | 740 credit score | 6.849% | 6.883% | 0 pts ($0) | $3,206/mo | $98,946 |
Conventional 5% Down | 5% | 700 credit score | 6.972% | 7.448% | 0 pts ($0) | $3,855/mo | $134,469 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.292% | 7.329% | 0 pts ($0) | $4,190/mo | $143,778 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $3,619/mo | $122,629 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.753% | 7.127% | 0 pts ($0) | $3,849/mo | $138,724 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.812% | 6.847% | 0 pts ($0) | $3,992/mo | $134,927 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $5,047/mo | $120,330 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.980% | 6.748% | 0 pts ($0) | $3,593/mo | $125,976 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,705/mo | $129,723 |
FHA Streamline Refi | 0% | 640 credit score | 6.111% | 6.881% | 0 pts ($0) | $3,776/mo | $132,996 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.946% | 7.188% | 0 pts ($0) | $3,845/mo | $139,243 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $3,826/mo | $74,916 |
Investment Property 25% Down | 25% | 740 credit score | 7.547% | 7.586% | 0 pts ($0) | $3,222/mo | $102,418 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $3,296/mo | $103,017 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $3,556/mo | $109,043 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.350% | 7.124% | 0 pts ($0) | $3,737/mo | $132,657 |
Second Home 10% Down | 10% | 720 credit score | 5.995% | 6.567% | 0 pts ($0) | $3,298/mo | $111,205 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $3,217/mo | $99,462 |
VA 0% Down | 0% | 700 credit score | 5.977% | 6.219% | 0 pts ($0) | $3,736/mo | $123,098 |
VA Cash-Out Refi | 0% | 640 credit score | 5.984% | 6.349% | 0 pts ($0) | $3,739/mo | $123,230 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 5.999% | 6.149% | 0 pts ($0) | $3,745/mo | $123,511 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $3,365/mo | $106,470 |
Frequently Asked Questions
What are today's mortgage rates in 40502, Lexington-Fayette Urban County, KY across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 40502, Lexington-Fayette Urban County, KY is 6.849% (with an estimated monthly payment of $2,872). Active program rates also include FHA 30-year fixed loans at 5.980% and VA 0%-down fixed loans at 5.977%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 40502, Lexington-Fayette Urban County, KY?
Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in 40502, Lexington-Fayette Urban County, KY have fluctuated between a low of 6.470% and a high of 6.931%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in 40502, Lexington-Fayette Urban County, KY?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $611,603 in 40502, Lexington-Fayette Urban County, KY, a standard 20%-down Conventional loan requires an upfront cash down payment of $122,321 but keeps your monthly payment lower at $2,872/mo (at 6.849% interest) with no monthly PMI. In comparison, an FHA loan requires only $21,406 (3.5% down) but has an estimated payment of $3,219/mo (at 5.980% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $590,197 falls comfortably within the local HUD FHA loan limit of $703,343 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 40502 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 40502 is $806,501. With a typical local home value of $611,603 in Lexington-Fayette Urban County, a standard 20%-down mortgage requires a loan size of $489,282. Because this is within the $806,501 conforming threshold, buyers can easily qualify for standard conforming conventional financing with competitive rates.
How does the median home value in 40502, Lexington-Fayette Urban County, KY impact estimated mortgage payments?
The median home value in 40502, Lexington-Fayette Urban County, KY is estimated at $611,603. Buying a typical home here with a standard 20% down payment ($122,321) translates to an estimated starting monthly mortgage payment of $2,872 (principal and interest). Compared to the local area median household income of $88,501 ($7,375/mo), this basic housing payment represents approximately 38.9% of gross monthly household income. Because this housing cost exceeds the standard 36% lender DTI guideline, buyers in this high-value area may need larger down payments, lower debt balances, or co-borrower income to qualify.