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Springfield

Current Mortgage Rates in Springfield, Missouri

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

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

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Mortgage Rates in Springfield, 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 Springfield, MO Mortgage Rates Compare?

December 11, 2019

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

The median home value for Springfield, MO (Greene County) is $161,320

The median household income for Springfield, MO (Greene County) is $44,495

Based on current mortgage rates and a 10% down payment, you need to make $29,930 per year to buy the median priced home in Springfield

The home price you can afford to buy based on household income in Springfield is 149% of the median home value which means housing prices are average

Springfield (Greene County) ranks 112 out of 115 counties in Missouri and 2,565 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Springfield, Missouri

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

Conforming loan limits for Springfield, MO

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

FHA loan limits for Springfield, MO

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Springfield, MO

1 unit: $484,350

Additional Mortgage Resources for Springfield, MO Residents

Mortgage Rates for Missouri Cities

Belton Mortgage Rates

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Kansas City Mortgage Rates

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