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.
October 1, 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%
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
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
FHA loan limits for Topeka, KS
VA loan limits for Topeka, KS