Lexington Mortgage Calculator
Estimate your monthly mortgage payment in Lexington, KY. On the local median home value of $295,000 — with a 20% down payment at today's rates — expect a total monthly payment (principal, interest, taxes, and insurance) of about $1,828. Adjust every input for your situation.
Monthly Breakdown
- Principal & Interest$1,492
- Property Tax$211
- Home Insurance$125
Amortization Schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $17,900 | $2,638 | $15,262 | $233,362 |
| 2 | $17,900 | $2,814 | $15,086 | $230,548 |
| 3 | $17,900 | $3,003 | $14,897 | $227,545 |
| 4 | $17,900 | $3,204 | $14,696 | $224,341 |
| 5 | $17,900 | $3,419 | $14,481 | $220,922 |
| 6 | $17,900 | $3,648 | $14,253 | $217,274 |
| 7 | $17,900 | $3,892 | $14,008 | $213,382 |
| 8 | $17,900 | $4,153 | $13,748 | $209,230 |
| 9 | $17,900 | $4,431 | $13,469 | $204,799 |
| 10 | $17,900 | $4,727 | $13,173 | $200,072 |
| 11 | $17,900 | $5,044 | $12,856 | $195,028 |
| 12 | $17,900 | $5,382 | $12,518 | $189,646 |
| 13 | $17,900 | $5,742 | $12,158 | $183,904 |
| 14 | $17,900 | $6,127 | $11,773 | $177,777 |
| 15 | $17,900 | $6,537 | $11,363 | $171,240 |
| 16 | $17,900 | $6,975 | $10,925 | $164,265 |
| 17 | $17,900 | $7,442 | $10,458 | $156,823 |
| 18 | $17,900 | $7,940 | $9,960 | $148,882 |
| 19 | $17,900 | $8,472 | $9,428 | $140,410 |
| 20 | $17,900 | $9,040 | $8,860 | $131,370 |
| 21 | $17,900 | $9,645 | $8,255 | $121,725 |
| 22 | $17,900 | $10,291 | $7,609 | $111,434 |
| 23 | $17,900 | $10,980 | $6,920 | $100,454 |
| 24 | $17,900 | $11,716 | $6,185 | $88,738 |
| 25 | $17,900 | $12,500 | $5,400 | $76,238 |
| 26 | $17,900 | $13,337 | $4,563 | $62,900 |
| 27 | $17,900 | $14,231 | $3,670 | $48,670 |
| 28 | $17,900 | $15,184 | $2,716 | $33,486 |
| 29 | $17,900 | $16,201 | $1,700 | $17,286 |
| 30 | $17,900 | $17,286 | $615 | $0 |
Swipe the table sideways to see all columns →
How to use this calculator
The Home Price field is pre-filled with the median home value in Lexington (about $295,000). Override with your target home's actual price to get a payment estimate for that specific property.
The Property Tax Rate is pre-filled with Kentucky's average effective rate of 0.86%. Within Kentucky, rates vary by county — if you know your specific local rate, override it for a more precise estimate.
Adjust the Down Payment slider to see how your payment changes. Below 20% down triggers PMI; the calculator adds it automatically and shows a warning.
Scroll down for the full PITI breakdown, monthly payment pie chart, and complete month-by-month amortization schedule.
How it works
Buying a median-priced home in Lexington. At $295,000 with a 20% down payment, you'd bring $59,000 to closing (plus closing costs) and take out a $236,000 mortgage. At a 6.50% interest rate on a 30-year fixed loan, your monthly principal + interest is roughly $1,492.
Annual costs on top of the loan. Kentucky's average property tax rate is 0.86%, so a median-priced Lexington home generates approximately $2,537 in annual property tax (about $211/mo when paid through escrow). Homeowner's insurance in Kentucky averages around $1,500/year.
Total monthly payment (PITI) on the median Lexington home works out to about $1,828 per month at current rates, assuming a 20% down payment and no HOA. If you're putting less than 20% down, add PMI to this — typically 0.5–1.5% of the loan balance per year.
Rates change; this is the math, not the offer. Mortgage rates fluctuate daily. Our default of 6.50% is a recent conventional 30-year benchmark — enter today's quoted rate from your lender for the most accurate payment estimate.
Frequently Asked Questions
Looking for a different city? Browse all cities. For Kentucky-specific property taxes, see the Kentucky Property Tax Calculator.