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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 | 6.949%APR 6.987% | 0 pts$0 | $1,932/moP&I $1,932 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.954%APR 6.724% | 0 pts$0 | $1,908/moP&I $1,772 · MI $136 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.093%APR 6.147% | 0 pts$0 | $1,768/moP&I $1,768 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.973%APR 7.011% | 0 pts$0 | $1,937/moP&I $1,937 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.695% | 0 pts$0 | $2,066/moP&I $2,066 · 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 | 6.093% | 6.147% | 0 pts ($0) | $2,478/mo | $49,990 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.034% | 6.088% | 0 pts ($0) | $3,086/mo | $68,980 |
Condo 10% Down | 10% | 720 credit score | 7.272% | 7.445% | 0 pts ($0) | $2,246/mo | $78,987 |
Conventional 10% Down | 10% | 720 credit score | 6.774% | 6.935% | 0 pts ($0) | $2,136/mo | $74,056 |
Conventional 20% Down | 20% | 740 credit score | 6.949% | 6.987% | 0 pts ($0) | $1,932/mo | $59,922 |
Conventional 5% Down | 5% | 700 credit score | 7.082% | 7.565% | 0 pts ($0) | $2,326/mo | $81,388 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.392% | 7.433% | 0 pts ($0) | $2,525/mo | $86,895 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,160/mo | $73,174 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.831% | 7.210% | 0 pts ($0) | $2,315/mo | $83,610 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.973% | 7.011% | 0 pts ($0) | $2,421/mo | $82,283 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,011/mo | $71,802 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.954% | 6.724% | 0 pts ($0) | $2,138/mo | $74,891 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,211/mo | $77,407 |
FHA Streamline Refi | 0% | 640 credit score | 6.075% | 6.847% | 0 pts ($0) | $2,244/mo | $78,958 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.039% | 7.286% | 0 pts ($0) | $2,316/mo | $84,059 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,283/mo | $44,703 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.695% | 0 pts ($0) | $1,937/mo | $61,758 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,967/mo | $61,471 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,122/mo | $65,067 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.316% | 7.092% | 0 pts ($0) | $2,222/mo | $78,791 |
Second Home 10% Down | 10% | 720 credit score | 5.959% | 6.533% | 0 pts ($0) | $1,961/mo | $66,002 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,920/mo | $59,350 |
VA 0% Down | 0% | 700 credit score | 6.077% | 6.323% | 0 pts ($0) | $2,254/mo | $74,574 |
VA Cash-Out Refi | 0% | 640 credit score | 6.081% | 6.452% | 0 pts ($0) | $2,255/mo | $74,619 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.088% | 6.242% | 0 pts ($0) | $2,256/mo | $74,697 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,008/mo | $63,532 |
Frequently Asked Questions
What are today's mortgage rates in 40514, Lexington-Fayette Urban County, KY across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 40514, Lexington-Fayette Urban County, KY is 6.949% (with an estimated monthly payment of $1,829). Active program rates also include FHA 30-year fixed loans at 5.954% and VA 0%-down fixed loans at 6.077%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 40514, 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 40514, Lexington-Fayette Urban County, KY have fluctuated between a low of 6.605% and a high of 7.058%. 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 40514, 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 $364,949 in 40514, Lexington-Fayette Urban County, KY, a standard 20%-down Conventional loan requires an upfront cash down payment of $72,990 but keeps your monthly payment lower at $1,829/mo (at 6.949% interest) with no monthly PMI. In comparison, an FHA loan requires only $12,773 (3.5% down) but has an estimated payment of $2,024/mo (at 5.954% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $352,176 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 40514 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 40514 is $806,501. With a typical local home value of $364,949 in Lexington-Fayette Urban County, a standard 20%-down mortgage requires a loan size of $291,959. 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 40514, Lexington-Fayette Urban County, KY impact estimated mortgage payments?
The median home value in 40514, Lexington-Fayette Urban County, KY is estimated at $364,949. Buying a typical home here with a standard 20% down payment ($72,990) translates to an estimated starting monthly mortgage payment of $1,829 (principal and interest). Compared to the local area median household income of $97,970 ($8,164/mo), this basic housing payment represents approximately 22.4% 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.