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.
December 10, 2019
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%
The median home value for Kansas City, MO (Jackson County) is $159,234
The median household income for Kansas City, MO (Jackson County) is $52,200
Based on current mortgage rates and a 10% down payment, you need to make $29,543 per year to buy the median priced home in Kansas City
The home price you can afford to buy based on household income in Kansas City is 177% of the median home value which means housing prices are average
Kansas City (Jackson County) ranks 88 out of 115 counties in Missouri and 2,052 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
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
FHA loan limits for Kansas City, MO
VA loan limits for Kansas City, MO
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