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Platte

Current Mortgage Rates in Platte, Missouri

Compare mortgage rates and fees for leading lenders in Platte, 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 Platte.

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

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Mortgage Rates in Platte, MO as of December 11, 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 Platte, MO Mortgage Rates Compare?

December 11, 2019

The current average rate for a 30 year fixed rate mortgage in Platte 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
Platte, MO 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 Platte, Missouri?

The median home value for Platte, MO is $245,061

The median household income for Platte, MO is $76,467

Based on current mortgage rates and a 10% down payment, you need to make $45,467 per year to buy the median priced home in Platte

The home price you can afford to buy based on household income in Platte is 168% of the median home value which means housing prices are average

Platte ranks 100 out of 115 counties in Missouri and 2,230 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Platte, Missouri

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Platte below.

Conforming loan limits for Platte, MO

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Platte, MO

1 unit: $336,950
2 units: $431,350
3 units: $521,400
4 units: $648,000

VA loan limits for Platte, MO

1 unit: $484,350

Additional Mortgage Resources for Platte, MO Residents

Mortgage Rates for Missouri Cities

Belton Mortgage Rates

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Franklin Mortgage Rates

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Liberty Mortgage Rates

Platte Mortgage Rates

Springfield Mortgage Rates

St. Charles Mortgage Rates

St. Louis 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