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Kansas City

Current Mortgage Rates in Kansas City, Missouri

Compare mortgage rates and fees for leading lenders in Kansas City, 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 Kansas City.

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

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Mortgage Rates in Kansas City, MO as of April 6, 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 Kansas City, MO Mortgage Rates Compare?

April 6, 2020

The current average rate for a 30 year fixed rate mortgage in Kansas City 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
Kansas City, 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 Kansas City, Missouri?

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

The median home value for Kansas City, MO (Jackson County) is $169,743

Based on current mortgage rates and a 10% down payment, you need to make $30,549 per year to buy the median priced home in Kansas City

With this income, you could qualify for a $152,769 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 Kansas City is $707

The median household income for Kansas City, MO (Jackson County) is $53,420

Based on this income, you can afford a home valued at approximately $296,819

The home price you can afford to buy based on household income in Kansas City is 175% of the median home value which means housing prices are average. Kansas City (Jackson County) ranks 93 out of 115 counties in Missouri and 2,069 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Kansas City, Missouri

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

Conforming loan limits for Kansas City, MO

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

FHA loan limits for Kansas City, MO

1 unit: $351,900
2 units: $450,500
3 units: $544,550
4 units: $676,750

VA loan limits for Kansas City, MO

1 unit: $510,400

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