Mortgage on a $500K house in Kentucky
$3,239 a month with 20% down — $2,691 principal and interest plus $299 property tax and $250 insurance.
Kentucky's typical property tax is 0.72% of the home's value a year (U.S. average 0.9%), which adds $299 a month on a $500K home. The typical home in Kentucky is worth $230,909, so $500K is 117% above the typical price.
$500K home in Kentucky: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $100,000 | $400,000 | $2,691 | $0 | $549 | $3,239 | $138,800 |
| 10% down | $50,000 | $450,000 | $3,027 | $188 | $549 | $3,763 | $161,300 |
| 5% down | $25,000 | $475,000 | $3,195 | $198 | $549 | $3,942 | $168,900 |
| 3.5% down (FHA) | $17,500 | $490,944 | $3,303 | $221 | $549 | $4,072 | $174,500 |
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 $500K buy a typical home?
In these counties the typical home value is within 15% of $500K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Oldham County | $452,219 | 0.9% | $3,314 |
120 of 120 Kentucky counties tracked by Zillow have a typical home value at or below $500K. See all Kentucky home prices.
Other prices in Kentucky
Frequently asked questions
What is the mortgage on a $500K house in Kentucky?
About $3,239 a month with 20% down at 7.11%: $2,691 principal and interest, $299 property tax and $250 insurance.
How much do I need to make to buy a $500K house in Kentucky?
About $138,800 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $500K house in Kentucky?
At Kentucky's typical effective rate of 0.72%, about $3,583 a year. Rates vary by county and city — see the county pages.