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Hillsboro

Current Mortgage Rates in Hillsboro, Missouri

Compare mortgage rates and fees for leading lenders in Hillsboro, MO. 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 Hillsboro.

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

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Mortgage Rates in Hillsboro, MO as of October 1, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's Hillsboro, MO Mortgage Rates Compare?

October 1, 2020

The current average rate for a 30 year fixed rate mortgage in Hillsboro 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
Hillsboro, MO Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Hillsboro, Missouri?

Below we provide helpful information on the real estate market, home prices and housing affordability in Hillsboro. Understand how much you need to earn to afford a home in Hillsboro, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Hillsboro 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 Hillsboro is right for you.

The median home value for Hillsboro, MO (Jefferson County) is $186,010

Based on current mortgage rates and a 10% down payment, you need to make $33,477 per year to buy the median priced home in Hillsboro

With this income, you could qualify for a $167,409 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 Hillsboro is $775

The median household income for Hillsboro, MO (Jefferson County) is $64,085

Based on this income, you can afford a home valued at approximately $356,081

The home price you can afford to buy based on household income in Hillsboro is 191% of the median home value which means housing prices are average. Hillsboro (Jefferson County) ranks 73 out of 115 counties in Missouri and 1,747 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Hillsboro, MO is average

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Loan Limits for Hillsboro, Missouri

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

Conforming loan limits for Hillsboro, MO

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

FHA loan limits for Hillsboro, MO

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

VA loan limits for Hillsboro, MO

1 unit: $510,400

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