Mortgage Calculator — Kentucky
Pre-filled with Kentucky's average home price of $215000, property tax rate of 0.92%, and average insurance of $1800/year. Adjust any value below.
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Kentucky Housing Market
Kentucky offers highly affordable housing with moderate property taxes. Louisville and Lexington provide urban amenities at well below national average prices. The state's bourbon and manufacturing industries support stable local economies.
Affordability in Kentucky
Kentucky is among the most affordable states for home buyers. Median home prices near $215,000 mean a household earning $55,000 can comfortably enter homeownership with a conventional mortgage and modest down payment.
Key Markets
First-Time Buyer Programs in Kentucky
KHC Conventional / FHA / VA / USDA Loans
Fixed-rate first mortgages for first-time and repeat buyers, with income and price limits.
KHC Regular DAP
Down payment assistance as an amortizing second loan, paired with a KHC first mortgage.
Programs are run by the Kentucky Housing Corporation (KHC). Income limits, price limits and assistance amounts change often — confirm current terms with the agency or an approved lender.
Property Tax in Kentucky
Kentucky's homestead exemption lowers the assessed value of homes owned by residents who are 65 or older or totally disabled. Homes are assessed at 100% of fair cash value. At Kentucky's average effective rate of 0.92%, a $215,000 home pays roughly $1,980/year (about $165/month).
Kentucky Conforming Loan Limit
In 2026, the conforming loan limit is $832,750 in most counties. Designated high-cost areas can go up to $1,249,125. Loans above the limit are jumbo loans and usually need a larger down payment.
Closing Costs in Kentucky
Kentucky's transfer tax is $0.50 per $500 (0.1%) and is usually paid by the seller. Buyers pay lender, title and recording fees, and closing costs typically run 2%–4% of the price.
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