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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 | 6.911%APR 6.948% | 0 pts$0 | $2,227/moP&I $2,227 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.943%APR 6.712% | 0 pts$0 | $2,205/moP&I $2,048 · MI $157 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.015%APR 6.067% | 0 pts$0 | $2,028/moP&I $2,028 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.864%APR 6.901% | 0 pts$0 | $2,216/moP&I $2,216 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.674% | 0 pts$0 | $2,390/moP&I $2,390 · 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 | 6.015% | 6.067% | 0 pts ($0) | $2,853/mo | $57,060 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.987% | 6.040% | 0 pts ($0) | $3,559/mo | $79,215 |
Condo 10% Down | 10% | 720 credit score | 7.198% | 7.368% | 0 pts ($0) | $2,578/mo | $90,516 |
Conventional 10% Down | 10% | 720 credit score | 6.614% | 6.770% | 0 pts ($0) | $2,430/mo | $83,830 |
Conventional 20% Down | 20% | 740 credit score | 6.911% | 6.948% | 0 pts ($0) | $2,227/mo | $68,925 |
Conventional 5% Down | 5% | 700 credit score | 7.030% | 7.509% | 0 pts ($0) | $2,676/mo | $93,513 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.354% | 7.394% | 0 pts ($0) | $2,910/mo | $100,027 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,498/mo | $84,640 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.820% | 7.196% | 0 pts ($0) | $2,675/mo | $96,576 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.864% | 6.901% | 0 pts ($0) | $2,770/mo | $93,790 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,483/mo | $83,053 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.943% | 6.712% | 0 pts ($0) | $2,470/mo | $86,490 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,558/mo | $89,536 |
FHA Streamline Refi | 0% | 640 credit score | 6.060% | 6.831% | 0 pts ($0) | $2,592/mo | $91,137 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.995% | 7.240% | 0 pts ($0) | $2,667/mo | $96,699 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,641/mo | $51,708 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.674% | 0 pts ($0) | $2,241/mo | $71,436 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $2,275/mo | $71,104 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,455/mo | $75,263 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.301% | 7.076% | 0 pts ($0) | $2,566/mo | $90,951 |
Second Home 10% Down | 10% | 720 credit score | 5.948% | 6.521% | 0 pts ($0) | $2,265/mo | $76,219 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,221/mo | $68,650 |
VA 0% Down | 0% | 700 credit score | 6.060% | 6.305% | 0 pts ($0) | $2,602/mo | $86,040 |
VA Cash-Out Refi | 0% | 640 credit score | 6.066% | 6.435% | 0 pts ($0) | $2,604/mo | $86,117 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.073% | 6.226% | 0 pts ($0) | $2,606/mo | $86,208 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,323/mo | $73,487 |
Frequently Asked Questions
What are today's mortgage rates in 40509, Lexington-Fayette Urban County, KY across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 40509, Lexington-Fayette Urban County, KY is 6.911% (with an estimated monthly payment of $2,132). Active program rates also include FHA 30-year fixed loans at 5.943% and VA 0%-down fixed loans at 6.060%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 40509, 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 40509, Lexington-Fayette Urban County, KY have fluctuated between a low of 6.542% and a high of 6.990%. 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 40509, 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 $422,136 in 40509, Lexington-Fayette Urban County, KY, a standard 20%-down Conventional loan requires an upfront cash down payment of $84,427 but keeps your monthly payment lower at $2,132/mo (at 6.911% interest) with no monthly PMI. In comparison, an FHA loan requires only $14,775 (3.5% down) but has an estimated payment of $2,365/mo (at 5.943% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $407,361 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 40509 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 40509 is $806,501. With a typical local home value of $422,136 in Lexington-Fayette Urban County, a standard 20%-down mortgage requires a loan size of $337,709. 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 40509, Lexington-Fayette Urban County, KY impact estimated mortgage payments?
The median home value in 40509, Lexington-Fayette Urban County, KY is estimated at $422,136. Buying a typical home here with a standard 20% down payment ($84,427) translates to an estimated starting monthly mortgage payment of $2,132 (principal and interest). Compared to the local area median household income of $106,666 ($8,889/mo), this basic housing payment represents approximately 24.0% of gross monthly household income. This housing cost is well within standard lender affordability guidelines (under the 36% DTI benchmark), demonstrating healthy local purchasing power.