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Topeka

Current Mortgage Rates in Topeka, Kansas

Compare mortgage rates and fees for leading lenders in Topeka, KS. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Topeka.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Topeka. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Topeka, KS as of January 21, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Topeka, KS Mortgage Rates Compare?

January 21, 2020

The current average rate for a 30 year fixed rate mortgage in Topeka is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Topeka, KS Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Topeka, Kansas?

Below we provide helpful information on the real estate market, home prices and housing affordability in Topeka. Understand how much you need to earn to afford a home in Topeka, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Topeka fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Topeka is right for you.

The median home value for Topeka, KS (Shawnee County) is $148,835

Based on current mortgage rates and a 10% down payment, you need to make $26,786 per year to buy the median priced home in Topeka

With this income, you could qualify for a $133,951 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Topeka is $620

The median household income for Topeka, KS (Shawnee County) is $57,654

Based on this income, you can afford a home valued at approximately $320,347

The home price you can afford to buy based on household income in Topeka is 215% of the median home value which means housing prices are affordable. Topeka (Shawnee County) ranks 93 out of 105 counties in Kansas and 1,263 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Topeka, KS is affordable

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Loan Limits for Topeka, Kansas

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Topeka (Shawnee County) below.

Conforming loan limits for Topeka, KS

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Topeka, KS

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Topeka, KS

1 unit: $510,400

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