Today's 30-year mortgage rate in Kansas averages 6.65%, which is below the national average of 7.15%. Homebuyers can save on mortgage costs by using programs like First Time Homebuyer and Kansas Down Payment Assistance.
Mortgage
Today's Mortgage Rates in Kansas (November 2024)
Updated: November 12, 2024
Advertising & Editorial Disclosure
MoneyGeek uses publicly available data from Zillow for the rates on this page. Mortgage rates shift daily, and we take a snapshot of rates to analyze rate information for Kansas. We update the data frequently to ensure you have access to the most recent rates, but the values may differ slightly between reporting sources.
Unless specifically noted otherwise, rates featured in the content are annual percentage rates (APRs).
This data was last updated in November 2024.
Current Mortgage Rates in Kansas
As of November 2024, the mortgage rate for a 30-year fixed mortgage in Kansas is 6.7%, up by 70 basis points from October's 6%. For a loan of $250,000 with a 20% down payment, the rate increase could add around $36,135 in total interest over the life of the loan, excluding property taxes or HOA fees.
Even small changes in mortgage rates can significantly impact your finances. Stay updated on Kansas' current rates to calculate your potential monthly payments and budget effectively.
Who Needs to Know Current Mortgage Rates in Kansas?
Knowing today's mortgage interest rates in Kansas can benefit first-time buyers and existing homeowners, especially in the evolving housing market.
First-time homebuyers
Staying updated on current mortgage rates helps first-time Kansas homebuyers understand the rates they can expect from lenders and whether they're competitive.
Homeowners with mortgages
Kansas homeowners can check current mortgage rates and consider a mortgage refinance if they're lower than their existing one.
In Kansas, the current mortgage rate for a 30-year fixed loan is 6.65% for purchases, but refinancing averages slightly higher at 6.73%. These rate differences impact both monthly payments and total loan costs.
SEE CURRENT MORTGAGE RATES IN NEIGHBORING STATES
Current Mortgage Rates in Kansas by Loan Type
A 30-year fixed-rate mortgage usually has a higher interest rate than a 15-year one. The longer loan term presents more uncertainty and risk for lenders, including potential default and fluctuating interest rates.
Explore mortgage types in Kansas to find one that fits your finances. A mortgage calculator can help you understand how different rates affect your monthly payments.
Data filtered by:Results filtered by:
Loan Type:
Loan Type:10-Year Fixed
| 5.59% | 5.80% |
INTEREST RATE VS. APR: WHAT'S THE DIFFERENCE?
An interest rate is the percentage charged on the total loan amount. If you're looking at a mortgage in Kansas, the average interest rate for a 30-year fixed loan is 6.57%.
An APR (annual percentage rate) reflects the interest rate, mortgage points, and other fees. In Kansas, the average APR for a 30-year fixed mortgage is 6.65%, giving a broader view of the annual costs tied to your mortgage.
Current Mortgage Rates in Kansas by Credit Score
If your credit score is 740 or above and you're putting down 5% to 20%, the average APR for a 30-year fixed mortgage in Kansas is 6.91%. With a credit score below 680, that figure remains at 6.91%.
Your credit score and down payment influence your mortgage rate. To see what rates you might qualify for, check out the table below:
Data filtered by:Results filtered by:
Credit Score Range:
Credit Score Range:680 - 740
Down Payment:
Down Payment:20% or higher
| 10-year Fixed | 5.37% |
| 15-year Fixed | 6.03% |
| 20-year Fixed | 6.89% |
| 30-year Fixed | 6.95% |
| 5-year ARM | 7.59% |
| 7-year ARM | 7.48% |
Mortgage Types in Kansas
In November 2024, 30-year fixed-rate VA loans have the lowest average APR for 30-year fixed-rate mortgages in Kansas at 6.52%. Knowing your options helps you find a deal that meets your financial goals. Check out the following table for the variety of mortgage loan types available in Kansas:
Mortgage Type | Definition | Impact on Rates | 30-Year Rates in Kansas |
|---|---|---|---|
Conventional Loans | Conventional loans in Kansas are not backed by government agencies and adhere to Fannie Mae and Freddie Mac guidelines. | Mortgage rates for conventional loans may vary based on credit score and down payment amount. | 6.65% |
FHA Loans | FHA loans in Kansas are insured by the Federal Housing Administration and allow for lower down payments and credit scores. | FHA loans typically offer lower rates for borrowers with less credit or smaller down payments. | currently unavailable |
VA Loans | VA loans in Kansas are available to service members, veterans and eligible surviving spouses, offering benefits like no down payment. | VA loans often have competitive rates due to government backing, benefiting those with full entitlement. | 6.52% |
USDA Loans | USDA loans in Kansas cater to rural home buyers and are backed by the United States Department of Agriculture. | Due to government backing, rates on USDA loans can be lower, aiding those in rural areas with moderate incomes. | currently unavailable |
Jumbo Loans | Jumbo loans in Kansas are for amounts exceeding conforming loan limits, catering to high-cost property purchases. | Jumbo loans might have higher rates, reflecting the greater risk associated with larger loan amounts. | 6.78% |
MORTGAGE RATE STRUCTURES IN KANSAS
Understanding the mortgage rates in Kansas is essential for planning your monthly mortgage payments. Rates come in two types: fixed and adjustable.
- Fixed-rate mortgage rates lock in your interest rate so your monthly payments stay the same over time, offering stability.
- Adjustable-rate mortgages (ARM) start with lower rates that can adjust periodically, possibly lowering your initial payments.
As of November 2024, the average APR in Kansas is 6.65% for a 30-year fixed-rate mortgage and 7.16% for a seven-year adjustable-rate mortgage.
Mortgage Lenders in Kansas
New American, Rocket Mortgage and Truist are solid options in Kansas. These Better Business Bureau (BB-accredited lenders offer homeowner assistance programs. Remember, other lenders in Kansas might also fit your needs.
Mortgage rates in Kansas vary by lender. Compare offerings from multiple lenders to get the best rate.
- New American
- 8Number of Mortgage Options
- YesOnline Application
- ABBB Rating
- Monday to Friday, 8 am to 9 pm CT Saturday, 10 am to 2 pm CTCustomer Service Hours
New American offers various mortgage options in Kansas, including conventional and FHA loans. An FHA loan requires a minimum credit score of 580, while a Jumbo Loan requires 680. Conventional loans start with a 3% down payment, and FHA loans require 3.5% to 10%, depending on your credit.
Customer service is available by phone or email on weekdays from 8 a.m. to 9 p.m. CT and Saturdays from 10 a.m. to 2 p.m. CT. New American also offers loan assistance programs for homeowners.
Pros
- Wide mortgage option range
- Mobile app for account management
- 14-day close guarantee on purchases
Cons
- Limited FAQ resources
- Can't prequalify online
- No physical branches in 11 states
- Rocket
- 4Number of Mortgage Options
- YesOnline Application
- A+BBB Rating
- Monday to Friday, 8:30 am to 9:00 pm ET Saturday, 9:00 am to 4:00 pm ETCustomer Service Hours
Rocket Mortgage offers various home financing options, including FHA and conventional loans. It makes homeownership more accessible, with a minimum credit score of 580 for FHA loans and 620 for conventional loans. The minimum down payment is 3.5% for FHA loans and starts at 3% for conventional loans, offering flexibility to fit different budgets.
Customer service via phone and chat is available Monday through Friday from 8:30 a.m. to 9 p.m. ET and Saturday from 9 a.m. to 4 p.m. ET. It supports homeownership through programs like HomeReady, HomePossible and Freddie Mac BorrowSmart Access.
Pros
- Online prequalification
- Exclusive downpayment coverage
- Homebuyer programs with top agencies
Cons
- No available in-person branches
- No USDA loans
- Truist
- 4Number of Mortgage Options
- YesOnline Application
- A+BBB Rating
- Monday to Friday, 8 am to 8 pm ET Saturday, 8 am to 5 pm ETCustomer Service Hours
Truist offers conventional, VA, FHA and jumbo loans to suit different needs. Down payments start at 3%. The lender also provides several homeowner assistance programs in Kansas, including a Doctor Loan, Construction to Permanent Loans and Affordable Lending Options.
Customer service is available by phone, social media or in person on weekdays from 8 a.m. to 8 p.m. ET and Saturdays from 8 a.m. to 5 p.m. ET. With a BBB rating of A+, Truist is committed to customer satisfaction and support.
Pros
- Unique mortgage programs like Doctor and Construction-to-Permanent Loans
- Interactive online mortgage calculator with amortization feature
- Affordable options with payment assistance
Cons
- Specific mortgage info requires professional consultation
- No mortgage payment relief options
Mortgage Programs in Kansas
Homeownership involves hidden costs that can affect your budget. The Kansas Housing Resources Corporation provides mortgage programs to support your home-buying process.
Program | Description |
|---|---|
Offered to Kansas homebuyers who haven't owned a home in three or more years and meet income limits. Contribute 1% to 10% of the purchase price to receive a 0% interest loan worth 15% to 20% of the home’s value. The loan is forgiven if you live in the house for 10 years. | |
Helps potential homebuyers who meet credit score and income requirements. It provides a grant alongside a 30-year fixed mortgage, which doesn't need repayment and can be used for down payments or closing costs on various home types. | |
Supports low-income Kansans buying homes under $75,000, with aid available after a $500 down payment. Participants must complete 12 hours of homeowner education, including budget analysis for a financially sustainable purchase, and access additional educational resources. | |
Offers up to $8,000 to eligible applicants buying within Leavenworth's city limits. Funded by a Community Block Grant, it fosters long-term residency, with homeowners required to remain for five years before the financial obligation is forgiven. |
FAQ: Mortgage Rates in Kansas
Understanding today's mortgage rates in Kansas is essential when purchasing a home. We've answered your questions about the current rates so that you can make well-informed mortgage decisions.
What are the current mortgage rates in Kansas?
Current average APRs in Kansas vary by loan type. As of November 2024, a 30-year fixed conforming loan has an average APR of 6.65%, whereas a seven-year ARM jumbo is 7.31%. These rates are influenced by several factors beyond just the type of loan.
How do mortgage rates in Kansas compare to national rates?
In Kansas, the current average APRs for a five-year adjustable-rate mortgage and a 30-year fixed-rate mortgage are 7.42% and 6.65%, respectively. In comparison, the national averages are 7.97% for a five-year ARM and 7.15% for a 30-year fixed rate.
How does my credit score impact the mortgage rates I get in Kansas?
Your credit score impacts the rates you receive; generally, a higher credit score results in low mortgage rates due to less perceived risk by lenders.
Are there any special mortgage programs in Kansas to help homebuyers?
Kansas offers special mortgage programs, such as the First Time Homebuyer, Kansas Down Payment Assistance and Topeka Opportunity to Own Program (TOTO).
How can I get the best possible mortgage rate in Kansas?
To secure the best mortgage rates, improve your credit score, shop around for the best offers and consider making a larger down payment. These steps can decrease your loan-to-value ratio.
What are today's mortgage refinance rates in Kansas?
Today's refinance rates in Kansas are, on average, 6.06% and 6.73% for 15-year fixed and 30-year fixed-rate mortgages, respectively.
How do I calculate my mortgage payments?
To calculate your mortgage payments, use a mortgage calculator for Kansas, which takes into account your loan amount, interest rate, down payment and loan term.
About Zachary Romeo, CBCA
Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.
Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.
sources
- City of Leavenworth. "Leavenworth Home Ownership Program." Accessed November 12, 2024.
- Kansas Housing Resources Corporation. "First Time Homebuyer." Accessed November 12, 2024.
- Kansas Housing Resources Corporation. "Kansas Down Payment Assistance." Accessed November 12, 2024.
- Topeka Planning and Development. "Topeka Opportunity to Own Program (TOTO)." Accessed November 12, 2024.