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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 | 6.889%APR 6.925% | 0 pts$0 | $2,101/moP&I $2,101 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.031%APR 6.801% | 0 pts$0 | $2,103/moP&I $1,954 · MI $149 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.978%APR 6.029% | 0 pts$0 | $1,910/moP&I $1,910 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.846%APR 6.882% | 0 pts$0 | $2,091/moP&I $2,091 · MI $0 | See details |
| Investment Property FixedConforming | 7.610%APR 7.651% | 0 pts$0 | $2,257/moP&I $2,257 · 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 | 5.978% | 6.029% | 0 pts ($0) | $2,691/mo | $53,609 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.953% | 6.004% | 0 pts ($0) | $3,358/mo | $74,505 |
Condo 10% Down | 10% | 720 credit score | 7.127% | 7.295% | 0 pts ($0) | $2,421/mo | $84,814 |
Conventional 10% Down | 10% | 720 credit score | 6.586% | 6.741% | 0 pts ($0) | $2,291/mo | $78,958 |
Conventional 20% Down | 20% | 740 credit score | 6.889% | 6.925% | 0 pts ($0) | $2,101/mo | $64,957 |
Conventional 5% Down | 5% | 700 credit score | 7.000% | 7.478% | 0 pts ($0) | $2,523/mo | $88,074 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.331% | 7.370% | 0 pts ($0) | $2,745/mo | $94,299 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,362/mo | $80,028 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.797% | 7.172% | 0 pts ($0) | $2,523/mo | $91,044 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.846% | 6.882% | 0 pts ($0) | $2,614/mo | $88,463 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,294/mo | $78,528 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.031% | 6.801% | 0 pts ($0) | $2,357/mo | $82,813 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,418/mo | $84,657 |
FHA Streamline Refi | 0% | 640 credit score | 6.213% | 6.986% | 0 pts ($0) | $2,491/mo | $88,038 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.977% | 7.221% | 0 pts ($0) | $2,517/mo | $91,224 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,497/mo | $48,890 |
Investment Property 25% Down | 25% | 740 credit score | 7.610% | 7.651% | 0 pts ($0) | $2,116/mo | $67,407 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $2,151/mo | $67,229 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,321/mo | $71,161 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.400% | 7.176% | 0 pts ($0) | $2,451/mo | $87,162 |
Second Home 10% Down | 10% | 720 credit score | 6.055% | 6.630% | 0 pts ($0) | $2,166/mo | $73,220 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,100/mo | $64,909 |
VA 0% Down | 0% | 700 credit score | 6.024% | 6.267% | 0 pts ($0) | $2,451/mo | $80,910 |
VA Cash-Out Refi | 0% | 640 credit score | 6.036% | 6.404% | 0 pts ($0) | $2,454/mo | $81,057 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.061% | 6.213% | 0 pts ($0) | $2,460/mo | $81,363 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,196/mo | $69,482 |
Frequently Asked Questions
What are today's mortgage rates in 40507, Lexington-Fayette Urban County, KY across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 40507, Lexington-Fayette Urban County, KY is 6.889% (with an estimated monthly payment of $2,361). Active program rates also include FHA 30-year fixed loans at 6.031% and VA 0%-down fixed loans at 6.024%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 40507, 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 40507, Lexington-Fayette Urban County, KY have fluctuated between a low of 6.505% and a high of 6.968%. 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 40507, 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 $399,132 in 40507, Lexington-Fayette Urban County, KY, a standard 20%-down Conventional loan requires an upfront cash down payment of $79,826 but keeps your monthly payment lower at $2,361/mo (at 6.889% interest) with no monthly PMI. In comparison, an FHA loan requires only $13,970 (3.5% down) but has an estimated payment of $2,649/mo (at 6.031% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $385,162 falls comfortably within the local HUD FHA loan limit of $524,225 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 40507 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 40507 is $806,501. With a typical local home value of $399,132 in Lexington-Fayette Urban County, a standard 20%-down mortgage requires a loan size of $319,306. 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 40507, Lexington-Fayette Urban County, KY impact estimated mortgage payments?
The median home value in 40507, Lexington-Fayette Urban County, KY is estimated at $399,132. Buying a typical home here with a standard 20% down payment ($79,826) translates to an estimated starting monthly mortgage payment of $2,361 (principal and interest). Compared to the local area median household income of $36,516 ($3,043/mo), this basic housing payment represents approximately 77.6% 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.