Loading
Tap on the profile icon to edit
your financial details.

Missouri Mortgage Rates

Your Details Done

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 Missouri Mortgages

Missouri, the Show-Me State, is famous for its rich history, river towns and wide-open plains. For those wanting to move there, Missouri mortgage rates are a little below average. Missouri counties’ conforming loan limits remain standard, with only slight variation in FHA limits.

Today's Mortgage Rates in Missouri

Product Today Last Week Change
30 year fixed 4.75% 4.75% 0.00
15 year fixed 4.25% 4.25% 0.00
5/1 ARM 4.48% 3.88% +0.60
30 yr fixed mtg refi 4.70% 4.66% +0.04
15 yr fixed mtg refi 4.31% 4.31% 0.00
7/1 ARM refi 4.60% 4.56% +0.04
15 yr jumbo fixed mtg refi 4.34% 4.30% +0.05

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
Details
Add your details
Purchase or Refinance
Select Purchase or Refinance
Do this later
Dismiss
Add your details
Location
Location
Enter your location Do this later
Dismiss
Add your details
Target Home Price
Target Home Value
Enter target home value
Do this later
Dismiss
Add your details
Down Payment
Down Payment
Enter down payment
$0
Do this later
Dismiss
Add your details
Current Home Value
Current Home Value
Enter current home value
Do this later
Dismiss
Add your details
Current Mortgage Balance
Current Mortgage Balance
Enter current mortgage balance
Do this later
Dismiss
Add your details
Credit Score
Credit Rating
Select Your Credit Rating Do this later
Dismiss
Lender
APR
Payment
No mortgages found. Please change your search criteria and try again.
Searching for Mortgages...
Disclosure
How helpful was this page in answering your question?
not helpful
very helpful
​If you could change one thing about ​this page what would it be?​
Thank you for your answer! Your feedback is very important to us.
We are working hard to improve our product and could use your help!
We pay $30 for 30 minutes on the phone to hear your thoughts on what we can do better.
Please enter your email if you'd like to be contacted to help.

Please enter your name
Photo Credit: ©iStock.com/alex grichenko
Missouri Mortgage Rates Quick Facts
  • Median Home Value: $151,700 (Zillow)
  • Loan Funding Rate: 64.4% (CFPB)
  • Average Mortgage Rate: 4.06% (Freddie Mac)
  • Homeownership Rate: 66.0% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,210 (U.S. Census Bureau)

Historical Mortgage Rates in Missouri

Missouri is home to top-notch colleges and universities, St. Louis and the iconic Gateway Arch and the family-friendly vacation destination, Branson. Grassy plains give way to the Ozark Mountains, and the mighty Mississippi flows near its Illinois border. This Midwest state is average in terms of both size and population. Historically, Missouri mortgage rates have come in equal to or slightly higher than average rates for the rest of the nation. Rates for 2018 so far are just slightly lower than the average U.S. rates.

Missouri Historic Mortgage Rates

YearMissouri RateU.S. Rate
198214.4114.73
198312.2212.26
198411.9911.99
198511.0011.17
19869.689.79
19878.858.95
19888.838.98
198910.009.81
19909.839.74
19919.099.07
19927.917.83
19937.096.93
19947.357.31
19957.957.69
19967.647.58
19977.547.52
19987.006.97
19997.237.14
20007.997.86
20017.036.94
20026.626.44
20035.845.67
20045.935.68
20055.905.85
20066.476.54
20076.486.42
20086.146.06
20095.095.05
20105.024.81
20114.554.56
20123.703.65
20133.813.84
20144.154.13
20153.853.88
20163.693.73

Missouri Mortgages Overview

Traditionally, Midwestern states have more affordable real estate prices than homes on the coast; Missouri follows that rule.

Every county in the state has a standard conforming loan limit of $453,100. A handful of counties have FHA loan limits of $318,550, which barely squeaks past the nation’s average of $294,515. Those counties are Bates, Caldwell, Cass, Clay, Clinton, Jackson, Lafayette, Platte and Ray. The conforming and FHA loan limits in Missouri is a reflection of the general affordability of homes in the state.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Adair$453,100$294,515
Andrew$453,100$294,515
Atchison$453,100$294,515
Audrain$453,100$294,515
Barry$453,100$294,515
Barton$453,100$294,515
Bates$453,100$318,550
Benton$453,100$294,515
Bollinger$453,100$294,515
Boone$453,100$294,515
Buchanan$453,100$294,515
Butler$453,100$294,515
Caldwell$453,100$318,550
Callaway$453,100$294,515
Camden$453,100$294,515
Cape Girardeau$453,100$294,515
Carroll$453,100$294,515
Carter$453,100$294,515
Cass$453,100$318,550
Cedar$453,100$294,515
Chariton$453,100$294,515
Christian$453,100$294,515
Clark$453,100$294,515
Clay$453,100$318,550
Clinton$453,100$318,550
Cole$453,100$294,515
Cooper$453,100$294,515
Crawford$453,100$294,515
Dade$453,100$294,515
Dallas$453,100$294,515
Daviess$453,100$294,515
De Kalb$453,100$294,515
Dent$453,100$294,515
Douglas$453,100$294,515
Dunklin$453,100$294,515
Franklin$453,100$294,515
Gasconade$453,100$294,515
Gentry$453,100$294,515
Greene$453,100$294,515
Grundy$453,100$294,515
Harrison$453,100$294,515
Henry$453,100$294,515
Hickory$453,100$294,515
Holt$453,100$294,515
Howard$453,100$294,515
Howell$453,100$294,515
Iron$453,100$294,515
Jackson$453,100$318,550
Jasper$453,100$294,515
Jefferson$453,100$294,515
Johnson$453,100$294,515
Knox$453,100$294,515
Laclede$453,100$294,515
Lafayette$453,100$318,550
Lawrence$453,100$294,515
Lewis$453,100$294,515
Lincoln$453,100$294,515
Linn$453,100$294,515
Livingston$453,100$294,515
Mcdonald$453,100$294,515
Macon$453,100$294,515
Madison$453,100$294,515
Maries$453,100$294,515
Marion$453,100$294,515
Mercer$453,100$294,515
Miller$453,100$294,515
Mississippi$453,100$294,515
Moniteau$453,100$294,515
Monroe$453,100$294,515
Montgomery$453,100$294,515
Morgan$453,100$294,515
New Madrid$453,100$294,515
Newton$453,100$294,515
Nodaway$453,100$294,515
Oregon$453,100$294,515
Osage$453,100$294,515
Ozark$453,100$294,515
Pemiscot$453,100$294,515
Perry$453,100$294,515
Pettis$453,100$294,515
Phelps$453,100$294,515
Pike$453,100$294,515
Platte$453,100$318,550
Polk$453,100$294,515
Pulaski$453,100$294,515
Putnam$453,100$294,515
Ralls$453,100$294,515
Randolph$453,100$294,515
Ray$453,100$318,550
Reynolds$453,100$294,515
Ripley$453,100$294,515
St Charles$453,100$294,515
St Clair$453,100$294,515
Ste Genevieve$453,100$294,515
St Francois$453,100$294,515
St Louis$453,100$294,515
St Louis City$453,100$294,515
Saline$453,100$294,515
Schuyler$453,100$294,515
Scotland$453,100$294,515
Scott$453,100$294,515
Shannon$453,100$294,515
Shelby$453,100$294,515
Stoddard$453,100$294,515
Stone$453,100$294,515
Sullivan$453,100$294,515
Taney$453,100$294,515
Texas$453,100$294,515
Vernon$453,100$294,515
Warren$453,100$294,515
Washington$453,100$294,515
Wayne$453,100$294,515
Webster$453,100$294,515
Worth$453,100$294,515
Wright$453,100$294,515

Missouri is a deed of trust state. This means when you buy a home in Missouri, the document you sign is a deed of trust instead of a mortgage. The main difference with a deed of trust is that it allows lenders who want to foreclose on a home to bypass the court system when doing so. Instead the lender can initiate a power of sale foreclosure by hiring a third party to auction the home.

Missouri has real estate disclosure laws, meaning the seller must disclose what defects they know about the property. Naturally, that’s a positive for buyers. But it’s always best to opt for a home inspection before officially closing on your home to guard against any unexpected surprises once the property is yours.

30-Year Fixed Mortgage Rates in Missouri

Most homebuyers opt for a 30-year fixed-rate mortgage. This reliable option gives buyers a long period of time to pay off their loan. Because the mortgage rate remains the same for the duration of the loan, the monthly payments hold steady too.

You can also consider a 15-year fixed-rate mortgage which allows you to pay off your loan in a shorter period of time and has a lower interest rate, but the drawback of this is that your monthly payments will be higher.

The average Missouri mortgage rate for fixed-rate 30-year mortgages is 4.8%.

Missouri Jumbo Loan Rates

Missouri homes hit right about average with the rest of the country, so the conventional loan limit holds steady at $453,100 in every county. A jumbo loan is any home loan that is higher than that limit. Conforming loan limits exist because issuing a loan beyond that price presents a bigger risk for lenders. As a result, jumbo loans come with higher interest rates to offset that risk.

The average jumbo loan rate in Missouri is 4.5%.

Missouri ARM Loan Rates

Another mortgage choice is an adjustable-rate mortgage (ARM). An ARM is a mortgage that does exactly as its name tells you – it has an interest rate that “adjusts” or changes over time. The main attraction of an ARM is that is offers a lower initial interest rate as compared to a fixed-rate mortgage. This low rate is available for one, three, five, seven or 10 years, depending on the loan’s terms. Once that period has come to a close, the interest rate can increase or decrease once a year, though you can usually plan on it going up.

The terms of the loan will spell out how many times the rate can change and the highest level that it can jump to. This means that you do know what you are getting into if you select an ARM. It is extremely important to check what that interest rate cap is and make sure that it is one that you can actually afford.

The average rate for an ARM in Missouri is 4.5%.

Missouri Mortgage Resources

Buying a home in Missouri? If you need assistance, here are some of the options that can help you at any step of the process.

The Missouri Housing Development Commission offers programs to help homebuyers secure their first home. The MHDC First Place Loan Program provides cash assistance to help first-time homebuyers get a mortgage. The Mortgage Credit Certificate program provides first-time homebuyers who are income eligible with an opportunity to lower the federal income tax owed annually, freeing up some cash to put back into the home.

Missouri’s Beyond Housing group has a homeownership center that offers education and counseling to prepare buyers for homeownership, lending services for down payment and closing cost assistance for those who are eligible and foreclosure intervention programs for at-risk homeowners.

Available Resources

Resource Problem or Issue Who Qualifies Website
Missouri Housing Development Commission Offers loan and mortgage credit certificate programs to first-time homebuyers. Qualifying first-time homebuyers. http://www.mhdc.com/homes/index.htm
Beyond Housing Homebuyer education and counseling, down payment and closing cost assistance and foreclosure intervention. First-time homebuyers and other qualifying homebuyers, depending on the program. http://www.beyondhousing.org/
USDA Rural Development - Single family loans Offers 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 Program Refinancing. 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 is available in more rural areas of a state with the goal of helping with safe, affordable housing for residents. Missouri has grants and loans available for home repairs as well as loan assistance programs for those who qualify.

Missouri Mortgage Taxes

There are no transfer taxes on real estate transactions in Missouri. That means neither the buyer or seller will have to pay this type of tax at closing.

Missouri homeowners who itemizes deductions on federal income taxes can double the mortgage interest deduction by applying it to both federal and state income tax filings.

Missouri Mortgage Refinance

Refinancing can help cut thousands of dollars off your overall mortgage. If you’re hoping to refinance your Missouri home, one of your options is the Home Affordable Refinance Program of Missouri. This program grants eligible homeowners access to refinance assistance, interest and principal payment reductions and low closing costs.

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 2016 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset