Mortgage on a $400K house in Kentucky
$2,592 a month with 20% down — $2,153 principal and interest plus $239 property tax and $200 insurance.
Kentucky's typical property tax is 0.72% of the home's value a year (U.S. average 0.9%), which adds $239 a month on a $400K home. The typical home in Kentucky is worth $230,909, so $400K is 73% above the typical price.
$400K home in Kentucky: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $80,000 | $320,000 | $2,153 | $0 | $439 | $2,592 | $111,100 |
| 10% down | $40,000 | $360,000 | $2,422 | $150 | $439 | $3,011 | $129,000 |
| 5% down | $20,000 | $380,000 | $2,556 | $158 | $439 | $3,153 | $135,100 |
| 3.5% down (FHA) | $14,000 | $392,755 | $2,642 | $177 | $439 | $3,258 | $139,600 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.72% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Kentucky does $400K buy a typical home?
In these counties the typical home value is within 15% of $400K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Spencer County | $376,164 | 0.66% | $2,574 |
| Woodford County | $358,536 | 0.7% | $2,587 |
| Boone County | $350,034 | 0.86% | $2,638 |
| Oldham County | $452,219 | 0.9% | $2,651 |
| Scott County | $342,459 | 0.66% | $2,573 |
119 of 120 Kentucky counties tracked by Zillow have a typical home value at or below $400K. See all Kentucky home prices.
Other prices in Kentucky
Frequently asked questions
What is the mortgage on a $400K house in Kentucky?
About $2,592 a month with 20% down at 7.11%: $2,153 principal and interest, $239 property tax and $200 insurance.
How much do I need to make to buy a $400K house in Kentucky?
About $111,100 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $400K house in Kentucky?
At Kentucky's typical effective rate of 0.72%, about $2,866 a year. Rates vary by county and city — see the county pages.