Kentucky Mortgage Calculator

Kentucky mortgage and refinance loan payment calculator

Search calculator by state:

Our Kentucky mortgage calculator enables you to estimate your monthly mortgage payment, including the following:

  • Principal and interest
  • Taxes
  • Insurance
  • Private Mortgage Insurance (PMI)

Your monthly payment changes when updating the home price, down payment, interest rate, and loan term.

Housing affordability continues to fluctuate across Kentucky. The housing trends vary in the Bluegrass State, with larger communities exhibiting higher home prices than smaller, more rural areas. Even within Louisville, Lexington-Fayette, Bowling Green, the market varies among neighborhoods. Each area will have a slightly different trend such as Jefferson County, Fayette County and Kenton County.

$

10%

1%

3%

$
$

$1421

Monthly Payment

Principal & Interest $1421

Monthly Taxes $1421

Monthly HOA $1421

Monthly Insurance $1421

We've included the conforming loan amounts and the estimated property tax rates for each county. This is important because mortgage interest rates are significantly different for home loans above the amounts listed. Please check with your loan officer, bank, lender to verify the conforming loan amounts in your county.

County

Property tax rate

Conforming limit

Adair County

0.74%

$548,250

Allen County

0.70%

$548,250

Anderson County

0.95%

$548,250

Ballard County

0.72%

$548,250

Barren County

0.75%

$548,250

Bath County

0.77%

$548,250

Bell County

0.80%

$548,250

Boone County

0.95%

$548,250

Bourbon County

0.84%

$548,250

Boyd County

0.88%

$548,250

Boyle County

0.88%

$548,250

Bracken County

0.84%

$548,250

Breathitt County

0.94%

$548,250

Breckinridge County

0.73%

$548,250

Bullitt County

0.94%

$548,250

Butler County

0.68%

$548,250

Caldwell County

0.65%

$548,250

Calloway County

0.70%

$548,250

Campbell County

1.17%

$548,250

Carlisle County

0.67%

$548,250

Carroll County

0.71%

$548,250

Carter County

0.51%

$548,250

Casey County

0.71%

$548,250

Christian County

0.79%

$548,250

Clark County

0.91%

$548,250

Clay County

0.84%

$548,250

Clinton County

0.63%

$548,250

Crittenden County

0.66%

$548,250

Cumberland County

0.64%

$548,250

Daviess County

0.94%

$548,250

Edmonson County

0.69%

$548,250

Elliott County

0.66%

$548,250

Estill County

0.80%

$548,250

Fayette County

0.98%

$548,250

Fleming County

0.76%

$548,250

Floyd County

0.84%

$548,250

Franklin County

0.96%

$548,250

Fulton County

0.78%

$548,250

Gallatin County

1.07%

$548,250

Garrard County

0.83%

$548,250

Grant County

0.81%

$548,250

Graves County

0.66%

$548,250

Grayson County

0.61%

$548,250

Green County

0.77%

$548,250

Greenup County

0.98%

$548,250

Hancock County

0.70%

$548,250

Hardin County

0.77%

$548,250

Harlan County

0.94%

$548,250

Harrison County

0.74%

$548,250

Hart County

0.71%

$548,250

Henderson County

0.87%

$548,250

Henry County

0.95%

$548,250

Hickman County

0.80%

$548,250

Hopkins County

0.83%

$548,250

Jackson County

0.76%

$548,250

Jefferson County

0.93%

$548,250

Jessamine County

0.95%

$548,250

Johnson County

0.59%

$548,250

Kenton County

1.13%

$548,250

Knott County

0.83%

$548,250

Knox County

0.68%

$548,250

Larue County

0.70%

$548,250

Laurel County

0.64%

$548,250

Lawrence County

0.80%

$548,250

Lee County

0.86%

$548,250

Leslie County

0.71%

$548,250

Letcher County

0.72%

$548,250

Lewis County

0.73%

$548,250

Lincoln County

0.72%

$548,250

Livingston County

0.61%

$548,250

Logan County

0.75%

$548,250

Lyon County

0.66%

$548,250

McCracken County

0.75%

$548,250

McCreary County

0.68%

$548,250

McLean County

0.68%

$548,250

Madison County

0.81%

$548,250

Magoffin County

0.57%

$548,250

Marion County

0.77%

$548,250

Marshall County

0.78%

$548,250

Martin County

0.74%

$548,250

Mason County

0.76%

$548,250

Meade County

0.80%

$548,250

Menifee County

0.63%

$548,250

Mercer County

0.85%

$548,250

Metcalfe County

0.86%

$548,250

Monroe County

0.72%

$548,250

Montgomery County

0.79%

$548,250

Morgan County

0.73%

$548,250

Muhlenberg County

0.66%

$548,250

Nelson County

0.89%

$548,250

Nicholas County

0.70%

$548,250

Ohio County

0.64%

$548,250

Oldham County

0.99%

$548,250

Owen County

0.84%

$548,250

Owsley County

0.78%

$548,250

Pendleton County

1.06%

$548,250

Perry County

0.70%

$548,250

Pike County

0.69%

$548,250

Powell County

0.62%

$548,250

Pulaski County

0.66%

$548,250

Robertson County

0.80%

$548,250

Rockcastle County

0.68%

$548,250

Rowan County

0.68%

$548,250

Russell County

0.79%

$548,250

Scott County

0.72%

$548,250

Shelby County

0.87%

$548,250

Simpson County

0.72%

$548,250

Spencer County

0.79%

$548,250

Taylor County

0.78%

$548,250

Todd County

0.59%

$548,250

Trigg County

0.65%

$548,250

Trimble County

0.77%

$548,250

Union County

0.86%

$548,250

Warren County

0.75%

$548,250

Washington County

0.76%

$548,250

Wayne County

0.72%

$548,250

Webster County

0.76%

$548,250

Whitley County

0.68%

$548,250

Wolfe County

0.66%

$548,250

Woodford County

0.75%

$548,250

County

Tax Rate

Limit

Adair County

0.74%

$548,250

Allen County

0.70%

$548,250

Anderson County

0.95%

$548,250

Ballard County

0.72%

$548,250

Barren County

0.75%

$548,250

Bath County

0.77%

$548,250

Bell County

0.80%

$548,250

Boone County

0.95%

$548,250

Bourbon County

0.84%

$548,250

Boyd County

0.88%

$548,250

Boyle County

0.88%

$548,250

Bracken County

0.84%

$548,250

Breathitt County

0.94%

$548,250

Breckinridge County

0.73%

$548,250

Bullitt County

0.94%

$548,250

Butler County

0.68%

$548,250

Caldwell County

0.65%

$548,250

Calloway County

0.70%

$548,250

Campbell County

1.17%

$548,250

Carlisle County

0.67%

$548,250

Carroll County

0.71%

$548,250

Carter County

0.51%

$548,250

Casey County

0.71%

$548,250

Christian County

0.79%

$548,250

Clark County

0.91%

$548,250

Clay County

0.84%

$548,250

Clinton County

0.63%

$548,250

Crittenden County

0.66%

$548,250

Cumberland County

0.64%

$548,250

Daviess County

0.94%

$548,250

Edmonson County

0.69%

$548,250

Elliott County

0.66%

$548,250

Estill County

0.80%

$548,250

Fayette County

0.98%

$548,250

Fleming County

0.76%

$548,250

Floyd County

0.84%

$548,250

Franklin County

0.96%

$548,250

Fulton County

0.78%

$548,250

Gallatin County

1.07%

$548,250

Garrard County

0.83%

$548,250

Grant County

0.81%

$548,250

Graves County

0.66%

$548,250

Grayson County

0.61%

$548,250

Green County

0.77%

$548,250

Greenup County

0.98%

$548,250

Hancock County

0.70%

$548,250

Hardin County

0.77%

$548,250

Harlan County

0.94%

$548,250

Harrison County

0.74%

$548,250

Hart County

0.71%

$548,250

Henderson County

0.87%

$548,250

Henry County

0.95%

$548,250

Hickman County

0.80%

$548,250

Hopkins County

0.83%

$548,250

Jackson County

0.76%

$548,250

Jefferson County

0.93%

$548,250

Jessamine County

0.95%

$548,250

Johnson County

0.59%

$548,250

Kenton County

1.13%

$548,250

Knott County

0.83%

$548,250

Knox County

0.68%

$548,250

Larue County

0.70%

$548,250

Laurel County

0.64%

$548,250

Lawrence County

0.80%

$548,250

Lee County

0.86%

$548,250

Leslie County

0.71%

$548,250

Letcher County

0.72%

$548,250

Lewis County

0.73%

$548,250

Lincoln County

0.72%

$548,250

Livingston County

0.61%

$548,250

Logan County

0.75%

$548,250

Lyon County

0.66%

$548,250

McCracken County

0.75%

$548,250

McCreary County

0.68%

$548,250

McLean County

0.68%

$548,250

Madison County

0.81%

$548,250

Magoffin County

0.57%

$548,250

Marion County

0.77%

$548,250

Marshall County

0.78%

$548,250

Martin County

0.74%

$548,250

Mason County

0.76%

$548,250

Meade County

0.80%

$548,250

Menifee County

0.63%

$548,250

Mercer County

0.85%

$548,250

Metcalfe County

0.86%

$548,250

Monroe County

0.72%

$548,250

Montgomery County

0.79%

$548,250

Morgan County

0.73%

$548,250

Muhlenberg County

0.66%

$548,250

Nelson County

0.89%

$548,250

Nicholas County

0.70%

$548,250

Ohio County

0.64%

$548,250

Oldham County

0.99%

$548,250

Owen County

0.84%

$548,250

Owsley County

0.78%

$548,250

Pendleton County

1.06%

$548,250

Perry County

0.70%

$548,250

Pike County

0.69%

$548,250

Powell County

0.62%

$548,250

Pulaski County

0.66%

$548,250

Robertson County

0.80%

$548,250

Rockcastle County

0.68%

$548,250

Rowan County

0.68%

$548,250

Russell County

0.79%

$548,250

Scott County

0.72%

$548,250

Shelby County

0.87%

$548,250

Simpson County

0.72%

$548,250

Spencer County

0.79%

$548,250

Taylor County

0.78%

$548,250

Todd County

0.59%

$548,250

Trigg County

0.65%

$548,250

Trimble County

0.77%

$548,250

Union County

0.86%

$548,250

Warren County

0.75%

$548,250

Washington County

0.76%

$548,250

Wayne County

0.72%

$548,250

Webster County

0.76%

$548,250

Whitley County

0.68%

$548,250

Wolfe County

0.66%

$548,250

Woodford County

0.75%

$548,250

Start the mortgage process today in Kentucky

Start the process for either a purchase or refinance mortgage today and have a licensed loan officer in Kentucky contact you for a custom quote.

In Kentucky how do banks and lenders calculate what mortgage payment I can afford?

In Kentucky the general rule of thumb for determining the mortgage amount a borrower can manage is 2 – 2.5 times your monthly GROSS income. For example, someone earning $100k annual can afford a $200k – $250k mortgage. However, this is only a general guideline and there is more to the process. In addition to your gross income, lenders take into consideration two ratios: the “front-end ratio” and the “back-end ratio.”  The front-end ratio is your mortgage-to-income ratio, representing the (monthly) amount of your income which you can dedicate to paying your mortgage. The ideal ratio is under 30%–although some lenders will allow you to exceed 40%. The back-end ratio is your debt-to-income (DTI) ratio, or the amount of gross income you must cover your debts (loans for cars, education, and credit cards, for example).  Most lenders want to see that number no more than 36% (36% of your income goes to paying debts).  Although there are other factors in determining your overall financial “health,” these best represent your ability to pay the mortgage.

In Kentucky what are other costs that can increase my mortgage payment?

In Kentucky the mortgage payment includes multiple factors, each which can increase (or decrease) the actual mortgage payment. Other than then actual cost of the home, you need to include the following variables:

  • Down Payment (the amount of money you pay up front, not borrowed from the lender)
  • Interest Expenses (the interest rate, the length of the loan and type—whether a fixed or adjustable interest rate)
  • Property Taxes (these vary with the community you are moving into)
  • Insurance (homeowner’s insurance rates will depend on your coverage and can fluctuate)
  • PMI (some lenders require insurance to protect them should you default on the loan)
  • HOA Fees (Some residential communities (especially condominiums and other PUDs) have maintenance fees for shared facilities and amenities offered in the development

In Kentucky how do I calculate my mortgage payment?

When considering a new home purchase or whether to refinance your current mortgage, the best place to start is by estimating your monthly payment. You can utilize our free Kentucky calculator to get a quick estimate. However, you will need a few numbers available:

Mortgage principal (how much you want to borrow—not necessarily the cost of the property).

Monthly interest rate (the fee you pay the bank to borrow money: check out current mortgage rates). This is usually reflected as an APR (annual percentage rate) and is translated to a monthly rate by dividing the rate by 12 (months).

Number of payments (how long do you want to pay on the mortgage). This is easy with a fixed mortgage, but not with an ARM, where the rate will change on a regular basis.

Property taxes (usually the cost of taxes is added to the mortgage payment & added to an escrow account, where the taxes are paid on your behalf at the end of the year).

Homeowner’s Insurance (since type and coverage vary widely, it is best to contact an agent to get some estimates).

PMI, if required (most lenders require this additional insurance when you put down less than 20% of the purchase price of the property).

Lock your mortgage rate today in Kentucky

With a wide variety of financing options, our team of experts can help you find and lock in the best current rate for purchasing your home or refinancing your existing mortgage. Contact us to get started with a Kentucky mortgage loan today!

Calculator questions?

Whether you are a math nerd who aspires to do the math by hand or simply want to understand how Kentucky mortgage payments are calculated, the formula looks like this:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

Key:

  • M = monthly mortgage payment
  • P = principal amount
  • I = monthly interest rate (usually listed as an annual percentage rate)
  • N = number of payments over the life of the loan (360 payments for 30 years, etc)

In Kentucky if you are obtaining a fixed mortgage, whether it be 30, 15, or even 5 years, you are probably curious to see how much you are paying in interest.  One thing to remember is that in the U.S., interest is paid in arrears. So, your monthly payment includes interest for the 30 days BEFORE your due date. Since fixed mortgages are fully amortized installment loans, the amortization schedule shows how the split between principal and interest changes over time. In the early years of the mortgage term, most of your payment will go towards interest. However, as you pay down the principal, less interest will accrue and more of your payment is applied to the principal.

In Kentucky the longer you finance your home for, the lower your monthly payments will be. Conversely, a shorter (or adjustable rate) term usually equates to a lower interest rate. Its important to run the numbers on multiple scenarios to find out what works best for you.

If you already have a mortgage and are looking for an opportunity to lower your current monthly payments, consider the following:

  • Refinance at a lower rate
  • Refinance to a longer term
  • Eliminate mortgage insurance
  • Apply for mortgage forbearance or loan modification (in case of financial hardship)

In Kentucky an Amortization Schedule calculator provides a schedule of how much is paid for each portion of the mortgage payment over time. A mortgage calculator allows you to plug in the mortgage amount, term (number of payments) and the APR (interest rate per year) and determine the total you will pay in principal and interest over the life of the loan.

Mortgage calculator by state

Related searches: adjustable, conforming, jumbo, payment, loan, refinance, amortization, rate, payoff, simple, 30 year fixed, 20 year fixed, 15 year fixed, 10 year fixed, 10 year ARM, 7 year ARM, 5 year ARM, 3 year ARM, Louisville/Jefferson mortgage calculator, Lexington-Fayette mortgage calculator, Bowling Green mortgage calculator, Owensboro mortgage calculator, Covington mortgage calculator

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