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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 October 20, 2019
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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.

How Do Today's Topeka, KS Mortgage Rates Compare?

October 20, 2019

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?

The median home value for Topeka, KS (Shawnee County) is $140,146

The median household income for Topeka, KS (Shawnee County) is $56,338

Based on current mortgage rates and a 10% down payment, you need to make $26,001 per year to buy the median priced home in Topeka

The home price you can afford to buy based on household income in Topeka is 217% of the median home value which means housing prices are affordable

Topeka (Shawnee County) ranks 93 out of 105 counties in Kansas and 1,261 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: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Topeka, KS

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Topeka, KS

1 unit: $484,350

Additional Mortgage Resources for Topeka, KS Residents

Mortgage Rates for Kansas Cities

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Topeka Mortgage Rates

Wichita Mortgage Rates

Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index