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Kansas Mortgage Rates

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Use SmartAsset's mortgage comparison tool to compare mortgage rates from the top banks and find the one that best suits your needs.

Overview of Kansas Mortgages

The true heartland state has plenty to offer, from the wide rolling plains and wheat fields to Hutchinson’s Cosmosphere and Space Center and Wichita’s aviation past. When it comes to real estate, you will find that Kansas mortgage rates are below the national average - sometimes significantly.

Today's Mortgage Rates in Kansas

Product Today Last Week Change

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
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Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.
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Source: Bankrate.com
Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.
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Kansas Mortgage Rates Quick Facts
  • Average Home Value: $120,200 (zillow.com)
  • Loan Funding Rate: 67.6%
  • Average Mortgage Rate: 4%
  • Homeownership Rate: 64.9% (St. Louis Fed)
  • Average Annual Mortgage Payment: $5,509

Historical Mortgage Rates in Kansas

Kansas mortgage rates have been historically lower than the national average, and that trend is continuing. Rates for 2016 in Kansas are currently lower than the average U.S. rates.

Kansas Historic Mortgage Rates

YearKansas RateU.S. Rate
198213.9414.73
198312.1712.26
198412.0611.99
198510.8311.17
19869.799.79
19878.998.95
19889.088.98
19899.769.81
19909.939.74
19919.289.07
19927.887.83
19936.696.93
19947.287.31
19957.777.69
19967.637.58
19977.527.52
19986.956.97
19997.037.14
20007.907.86
20016.946.94
20026.546.44
20035.695.67
20045.725.68
20055.785.85
20066.276.54
20076.146.42
20085.836.06
20095.035.05
20104.774.81
20114.284.56
20123.583.65
20133.783.84
20144.114.13
20153.773.88

Kansas Mortgages Overview

It’s typical to see lower home prices in the Midwest, and Kansas is no exception. The average single-family home is valued at $120,200, which is lower than the nation’s average of $186,100, according to Zillow.

Kansas Mortgage Rates

Single-Family Homes
Percentage of Homes92.00%
Average Property Value$91,757.94
Condominiums
Percentage of Homes1.80%
Average Property Value$152,212.75
PUD Homes
Percentage of Homes3.80%
Average Property Value$143,664.77
Townhomes
Percentage of Homes2.50%
Average Property Value$136,309.21

All Kansas counties have standard conforming loan limits of $417,000, but a handful have FHA loan limits that are just slightly higher than the average $271,050. Those counties are Johnson, Leavenworth, Linn, Miami and Wyandotte, and their FHA loan limit is $278,300.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Allen$417,000$271,050
Anderson$417,000$271,050
Atchison$417,000$271,050
Barber$417,000$271,050
Barton$417,000$271,050
Bourbon$417,000$271,050
Brown$417,000$271,050
Butler$417,000$271,050
Chase$417,000$271,050
Chautauqua$417,000$271,050
Cherokee$417,000$271,050
Cheyenne$417,000$271,050
Clark$417,000$271,050
Clay$417,000$271,050
Cloud$417,000$271,050
Coffey$417,000$271,050
Comanche$417,000$271,050
Cowley$417,000$271,050
Crawford$417,000$271,050
Decatur$417,000$271,050
Dickinson$417,000$271,050
Doniphan$417,000$271,050
Douglas$417,000$271,050
Edwards$417,000$271,050
Elk$417,000$271,050
Ellis$417,000$271,050
Ellsworth$417,000$271,050
Finney$417,000$271,050
Ford$417,000$271,050
Franklin$417,000$271,050
Geary$417,000$271,050
Gove$417,000$271,050
Graham$417,000$271,050
Grant$417,000$271,050
Gray$417,000$271,050
Greeley$417,000$271,050
Greenwood$417,000$271,050
Hamilton$417,000$271,050
Harper$417,000$271,050
Harvey$417,000$271,050
Haskell$417,000$271,050
Hodgeman$417,000$271,050
Jackson$417,000$271,050
Jefferson$417,000$271,050
Jewell$417,000$271,050
Johnson$417,000$278,300
Kearny$417,000$271,050
Kingman$417,000$271,050
Kiowa$417,000$271,050
Labette$417,000$271,050
Lane$417,000$271,050
Leavenworth$417,000$278,300
Lincoln$417,000$271,050
Linn$417,000$278,300
Logan$417,000$271,050
Lyon$417,000$271,050
McPherson$417,000$271,050
Marion$417,000$271,050
Marshall$417,000$271,050
Meade$417,000$271,050
Miami$417,000$278,300
Mitchell$417,000$271,050
Montgomery$417,000$271,050
Morris$417,000$271,050
Morton$417,000$271,050
Nemaha$417,000$271,050
Neosho$417,000$271,050
Ness$417,000$271,050
Norton$417,000$271,050
Osage$417,000$271,050
Osborne$417,000$271,050
Ottawa$417,000$271,050
Pawnee$417,000$271,050
Phillips$417,000$271,050
Pottawatomie$417,000$271,050
Pratt$417,000$271,050
Rawlins$417,000$271,050
Reno$417,000$271,050
Republic$417,000$271,050
Rice$417,000$271,050
Riley$417,000$271,050
Rooks$417,000$271,050
Rush$417,000$271,050
Russell$417,000$271,050
Saline$417,000$271,050
Scott$417,000$271,050
Sedgwick$417,000$271,050
Seward$417,000$271,050
Shawnee$417,000$271,050
Sheridan$417,000$271,050
Sherman$417,000$271,050
Smith$417,000$271,050
Stafford$417,000$271,050
Stanton$417,000$271,050
Stevens$417,000$271,050
Sumner$417,000$271,050
Thomas$417,000$271,050
Trego$417,000$271,050
Wabaunsee$417,000$271,050
Wallace$417,000$271,050
Washington$417,000$271,050
Wichita$417,000$271,050
Wilson$417,000$271,050
Woodson$417,000$271,050
Wyandotte$417,000$278,300

Kansas has lenient disclosure laws for sellers compared to the rest of the nation. If you’re shopping for a home in Kansas, it’s critical that buyers be vigilant when considering a property purchase. The best course of action is to arrange a property inspection with a well-trusted inspector or company. This will protect you from purchasing a home that has devastating defects.

30-Year Fixed Mortgage Rates in Kansas

Weighing your mortgage options in the Sunflower State? You will probably want to look into fixed-rate mortgages. These are the most common type of home loans as their interest rates remain the same for the duration of the loan. That means you know exactly what you are getting into when you sign the loan and your monthly payments will stay steady over the years. The most popular are 30-year fixed-rate mortgages which tend to have higher interest rates but lower monthly payments. Another option for you is a 15-year fixed-rate mortgage. With 15-year loans you can expect lower interest and higher payments.

The average Kansas mortgage rate for fixed-rate 30-year mortgages is 4.19%.

Kansas Jumbo Loan Rates

Homes in the nation’s “breadbasket” are generally more affordable than the average American home, so the conforming loan limit is the standard $417,000 across all counties. If you need to take out a bigger loan that than for the house you have your eye on, you will have what is considered a “jumbo loan.” Keep in mind that jumbo loans have higher interest rates. Issuing a loan that is bigger than the conforming loan limit presents a bigger risk for lenders. Banks attach higher interest rates to jumbo loans in an effort to compensate for the additional risk.

The average jumbo loan rate in Kansas is 4%.

Kansas ARM Loan Rates

An adjustable-rate mortgage – or ARM – is one that typically offers a lower interest rate upfront than a fixed-rate mortgage. The lower rate is available for a period of one, three, five, seven or 10 years. Once that period is over, the interest rate will usually go up. There are certain checks in place, however, to prevent buyers who choose ARMs from suddenly waking up to an exorbitant interest rate. The loan’s terms will specify how often the rate can go up and the maximum possible height that it can reach. It is crucial to check that interest rate cap and make sure that it is one you can afford to pay before you decide that an ARM is the best choice for you.

The average rate for an ARM in Kansas is 2.88%.

Kansas Mortgage Resources

Need assistance buying a house in the Sunflower State?

The Kansas Housing Resources Corporation has forgivable loans for first-time homebuyers to reduce out-of-pocket expenses associated with buying a home. If you’re a homeowner, you can also weatherize your home for more efficient heating and cooling with the weatherization assistance program. For buyers who don’t qualify for federal housing assistance, the Moderate Income Housing program can help you access loans and grants.

First-time homeowners can also receive assistance from the Kansas Housing Assistance Program. When you buy a house, purchasing costs can add up fast. But if you’re buying your first home and you’re eligible, you can get up to 4% borrower cash for a down payment and closing costs with this program. They also offer unlimited funding and 30-year fixed-rate loans with high loan-to-value loans, so no matter where in Kansas you’re looking, this is a great resource for those just starting out.

Available Resources

ResourceProblem or IssueWho QualifiesWebsite
Kansas Housing Resources CorporationForgiveable loans for first-time homebuyers; weatherization help; moderate income solutions.First-time homebuyers, homeowners who meet eligibility requirements for weatherization updates, moderate-income families who don't qualify for federal housing assistance; minimum credit score of 660.http://www.kshousingcorp.org/1new-page.aspx
Kansas Housing Assistance ProgramLowering costs for first-time homebuyers; down payment and closing cost assistance.First-time homebuyers who meet eligiblity and income requirements.http://kshap.org/
USDA Rural Development - Single family loansOffers payment assistance to increase an applicant’s repayment ability. Applicants must be without decent, safe and sanitary housing; Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet; Agree to occupy the property as your primary residence; Have the legal capacity to incur a loan obligation; Meet citizenship or eligible noncitizen requirements; Not be suspended or debarred from participation in federal programs.http://www.rd.usda.gov/programs-services/all-programs/single-family-housing-programs
Home Affordable Refinance ProgramRefinancing.Single family homes and condos that fit within lending loan limits.http://www.harp.gov/

The United States Department of Agriculture Rural Development program also offers loan help and mortgage grants throughout the entire country. The program aims to help develop more rural areas of a state while offering safe, affordable housing for residents. Kansas has grants and loans available for home repairs as well as loan assistance programs for those who qualify.

Kansas Mortgage Taxes

Homeowners are allowed to deduct the mortgage interest they pay when they file their federal income taxes (up to $1,000,000), and this applies for Kansas state income taxes as well. You can double up on your deductions for the qualifying mortgage interest payments you have made in the tax year by including them on both state and federal filings. Kansas generally follows federal guidelines for itemized deductions.

Also note that Kansas charges a 0.26% mortgage fee on real estate transactions.

A bonus for Kansas buyers and sellers: This state doesn’t charge taxes on real estate property title transfers, so you won’t have to pay a fee for that.

Kansas Mortgage Refinance

Kansas homeowners -- if it’s time to refinance, you can start with the Home Affordable Refinance Program of Kansas. Eligible homeowners can receive low closing costs plus a reduction in monthly principal and interest payments. HARP accepts single family homes and condos for refinance assistance.

If you don’t qualify for a program, remember you always have the option of working with the lender who issued your current mortgage and comparing rates with other lenders to ensure that you land on a solution that really works for your situation.

Best Places To Get A Mortgage

SmartAsset’s interactive mortgage map highlights the best counties in the country (and in each state) for securing a mortgage. Hover over counties and states to see data points for each region, or use the map’s tabs to view the top counties for each of the factors driving our analysis.

Worst
Better
Rank County Loan Funding Rate 5 Year Borrowing Costs Property Tax Annual Mortgage Payment

Methodology For many people buying a house means securing a mortgage. To determine the best places in the country to get a mortgage we looked at four factors: overall borrowing costs, ease of securing a mortgage, cheap property taxes and cheap annual mortgage payments.

To calculate the overall borrowing costs, we looked at the expected costs over the first five years of a $200,000 mortgage with a 20% down payment, including closing costs. We calculated the ease of getting a mortgage as the ratio of mortgage applications to actual mortgage originations (secured mortgages) in each county. We based annual mortgage payments on the annual principal and interest payments for a $200,000 loan in that location, using average mortgage rates in each county.

Finally, we ranked locations based on these four factors, and then averaged those rankings, giving equal weight to each factor. The areas with the lowest average rankings are the best places to get a mortgage.

Sources: Mortgage Bankers Association, US Census Bureau 2015 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset