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Missouri Mortgage Rates
When you combine a lower-than-average overall cost of buying a home with some of the stunning scenery available across the state, it is easy to see why Missouri is quickly becoming such a popular destination for homebuyers with the luxury to choose where they live.
Common Missouri Loan Types:
- Missouri conventional mortgages: Missouri mortgage requirements and rates vary based on the area you live in, or want to live in, and your financial situation. Compare mortgage rates on FreeRateUpdate.com to find the option that's right for you.
- Missouri FHA loans: Home loans backed by the FHA are offered throughout the U.S. The FHA doesn't offer loans directly, you can find one through an FHA-approved lender in Missouri on FreeRateUpdate.com today. FHA loans are typically offered to first-time homebuyers. FHA loans are designed for low- to moderate-income borrowers with lower credit scores.
- Missouri VA loans: VA loans are backed by the Department of Veterans Affairs; VA loans are offered to eligible active duty service members and veterans. The VA doesn't offer loans directly, but you can find one through a VA-approved lender in Missouri through FreeRateUpdate.com. VA loans require no down payment and typically have lower interest rates than conventional mortgages.
Missouri Mortgage Rates Compared to National Averages
Missouri interest rates typically come in right around the national average, but they have been known to tick slightly higher from time to time. This holds across all fixed-rate mortgages and 5/1 adjustable-rate mortgages.
Residents who own their homes usually find that the same is true for Missouri refinancing mortgages, with rates falling right around the national averages, if not slightly higher.