Kansas City FHA Loan Rates, Closing Costs & Stats
KANSAS CITY, MO-KS
FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.
FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.
While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.
For additional requirements as defined by the FHA, click here.
Kansas City's 182 lenders originated 9,799 FHA loans during 2021. The total origination value was $2,009,675,000, with an average FHA loan value of $205,090.
Kansas City FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Kansas City
averaged
6.27%
for the week of 2022-12-02, compared to the national average (all FHA variants) of
6.466% for the same period.
Kansas City's average FHA mortgage closing costs are $5,918.
The average rate for the prior week (2022-11-25) was
6.29% and
one month ago for the week of 2022-10-28, the
average rate was 6.93%.
The average rate one year ago was 3.26%.
For refis of the same type during the week of 2022-12-02, the average rate
was 6.2%.
Kansas City FHA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Kansas City level.
The top Kansas City FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
875 FHA loans originated. Their average total fees are
$5,842, which is $507
lower than the next largest lender,
FAIRWAY INDEPENDENT MORTGAGE CORPORATION.
The lowest fee Kansas City FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE ($2,131), MID AMERICA MORTGAGE, INC. ($2,764), Bank of America ($3,635), Mr. Cooper ( Nationstar Mortgage ) ($3,968) and DELMAR FINANCIAL COMPANY ($4,233).
The lowest rate Kansas City FHA lenders (with over 10 loans originated) are
Central National Bank (2.66%), Community First National Bank (2.68%), Plains Commerce Bank (2.69%), QUICKEN LOANS, LLC (2.74%) and North American Savings Bank, F.S.B. (2.75%).
Kansas City FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| KANSAS CITY, MO-KS | JOHNSON | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | LEAVENWORTH | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | LINN | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | MIAMI | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | WYANDOTTE | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | BATES | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | CALDWELL | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | CASS | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | CLAY | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | CLINTON | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | JACKSON | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | LAFAYETTE | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | PLATTE | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | RAY | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Kansas City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
|---|---|---|---|---|
| 2018-01-01 | $280,532 (15.9%) | $340,943 (9.9%) | 1.04 | 5,233 |
| 2018-02-01 | $296,043 (18.4%) | $356,342 (13.8%) | 1.07 | 4,858 |
| 2018-03-01 | $303,750 (13.7%) | $364,970 (10.9%) | 1.07 | 5,071 |
| 2018-04-01 | $306,345 (9.4%) | $372,213 (8.1%) | 1.04 | 5,298 |
| 2018-05-01 | $302,500 (10.0%) | $371,705 (7.6%) | 1.01 | 5,768 |
| 2018-06-01 | $298,500 (8.6%) | $366,079 (6.0%) | 1.00 | 6,209 |
| 2018-07-01 | $293,188 (6.6%) | $363,206 (6.4%) | 0.98 | 6,590 |
| 2018-08-01 | $290,000 (7.4%) | $360,932 (6.0%) | 0.97 | 6,874 |
| 2018-09-01 | $292,200 (8.4%) | $361,016 (7.0%) | 0.98 | 7,099 |
| 2018-10-01 | $289,950 (8.6%) | $354,719 (5.9%) | 0.98 | 7,290 |
| 2018-11-01 | $289,900 (7.4%) | $355,147 (6.4%) | 0.98 | 7,167 |
| 2018-12-01 | $292,925 (10.5%) | $355,910 (7.6%) | 1.01 | 6,543 |
| 2019-01-01 | $299,700 (6.8%) | $359,325 (5.4%) | 1.03 | 6,095 |
| 2019-02-01 | $312,450 (5.5%) | $371,630 (4.3%) | 1.06 | 5,790 |
| 2019-03-01 | $319,921 (5.3%) | $380,155 (4.2%) | 1.05 | 5,787 |
| 2019-04-01 | $322,475 (5.3%) | $386,388 (3.8%) | 1.02 | 5,890 |
| 2019-05-01 | $325,000 (7.4%) | $391,595 (5.4%) | 1.02 | 6,185 |
| 2019-06-01 | $324,000 (8.5%) | $389,757 (6.5%) | 1.01 | 6,352 |
| 2019-07-01 | $309,950 (5.7%) | $380,196 (4.7%) | 0.97 | 6,634 |
| 2019-08-01 | $307,714 (6.1%) | $379,102 (5.0%) | 0.97 | 6,721 |
| 2019-09-01 | $311,784 (6.7%) | $382,490 (6.0%) | 1.00 | 6,803 |
| 2019-10-01 | $311,923 (7.6%) | $382,953 (8.0%) | 1.01 | 6,879 |
| 2019-11-01 | $309,900 (6.9%) | $379,584 (6.9%) | 1.02 | 6,560 |
| 2019-12-01 | $311,948 (6.5%) | $383,386 (7.7%) | 1.04 | 5,705 |
| 2020-01-01 | $323,594 (8.0%) | $391,182 (8.9%) | 1.08 | 5,063 |
| 2020-02-01 | $337,500 (8.0%) | $407,863 (9.8%) | 1.10 | 4,723 |
| 2020-03-01 | $349,975 (9.4%) | $427,701 (12.5%) | 1.10 | 4,523 |
| 2020-04-01 | $350,919 (8.8%) | $428,021 (10.8%) | 1.10 | 4,528 |
| 2020-05-01 | $368,900 (13.5%) | $451,341 (15.3%) | 1.12 | 4,347 |
| 2020-06-01 | $375,000 (15.7%) | $473,167 (21.4%) | 1.10 | 3,995 |
| 2020-07-01 | $372,000 (20.0%) | $467,231 (22.9%) | 1.08 | 3,727 |
| 2020-08-01 | $360,475 (17.2%) | $464,829 (22.6%) | 1.03 | 3,567 |
| 2020-09-01 | $352,088 (12.9%) | $1,010,551 (164.2%) | 1.01 | 3,531 |
| 2020-10-01 | $349,950 (12.2%) | $448,812 (17.2%) | 1.00 | 3,615 |
| 2020-11-01 | $338,000 (9.1%) | $431,767 (13.8%) | 0.99 | 3,493 |
| 2020-12-01 | $322,849 (3.5%) | $412,008 (7.5%) | 0.96 | 3,114 |
| 2021-01-01 | $331,900 (2.6%) | $422,339 (8.0%) | 0.99 | 2,621 |
| 2021-02-01 | $347,375 (2.9%) | $450,688 (10.5%) | 1.01 | 2,069 |
| 2021-03-01 | $347,425 (-0.7%) | $453,925 (6.1%) | 0.99 | 1,969 |
| 2021-04-01 | $339,950 (-3.1%) | $447,311 (4.5%) | 0.92 | 2,075 |
| 2021-05-01 | $339,950 (-7.9%) | $441,362 (-2.2%) | 0.90 | 2,215 |
| 2021-06-01 | $327,500 (-12.7%) | $424,092 (-10.4%) | 0.86 | 2,566 |
| 2021-07-01 | $325,000 (-12.6%) | $419,389 (-10.2%) | 0.86 | 3,118 |
| 2021-08-01 | $317,450 (-11.9%) | $409,200 (-12.0%) | 0.85 | 3,287 |
| 2021-09-01 | $320,500 (-9.0%) | $404,392 (-60.0%) | 0.85 | 3,444 |
| 2021-10-01 | $320,000 (-8.6%) | $406,196 (-9.5%) | 0.85 | 3,379 |
| 2021-11-01 | $329,925 (-2.4%) | $408,121 (-5.5%) | 0.88 | 3,153 |
| 2021-12-01 | $342,500 (6.1%) | $413,034 (0.3%) | 0.93 | 2,736 |
| 2022-01-01 | $365,000 (10.0%) | $430,512 (1.9%) | 0.99 | 2,229 |
| 2022-02-01 | $385,925 (11.1%) | $450,168 (-0.1%) | 1.00 | 2,057 |
| 2022-03-01 | $382,750 (10.2%) | $441,708 (-2.7%) | 0.96 | 2,108 |
| 2022-04-01 | $379,925 (11.8%) | $449,756 (0.6%) | 0.91 | 2,277 |
| 2022-05-01 | $399,250 (17.4%) | $462,961 (4.9%) | 0.91 | 2,717 |
| 2022-06-01 | $399,000 (21.8%) | $464,596 (9.6%) | 0.89 | 3,257 |
| 2022-07-01 | $391,500 (20.5%) | $458,560 (9.3%) | 0.89 | 4,029 |
| 2022-08-01 | $386,975 (21.9%) | $453,726 (10.9%) | 0.89 | 4,205 |
| 2022-09-01 | $387,500 (20.9%) | $453,980 (12.3%) | 0.91 | 4,368 |
| 2022-10-01 | $388,475 (21.4%) | $457,089 (12.5%) | 0.91 | 4,736 |
| 2022-11-01 | $399,900 (21.2%) | $470,367 (15.3%) | 0.96 | 4,742 |
Kansas City's median listing price comes in at 96% of the national average.
Kansas City's average listing price for 2022-11-01 was $470,367, a difference of $62,246 (15.3%) versus the prior year and $13,278 versus the prior month.
For the 2022-11-01 period, Kansas City had 4,742 MLS listings, a difference of 6 listings (0%) versus the prior month and 1,589 listings (50%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Kansas City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 86 days | 2,142 sqft |
| 2018-02-01 | 86 days | 2,204 sqft |
| 2018-03-01 | 57 days | 2,270 sqft |
| 2018-04-01 | 50 days | 2,318 sqft |
| 2018-05-01 | 46 days | 2,326 sqft |
| 2018-06-01 | 47 days | 2,303 sqft |
| 2018-07-01 | 51 days | 2,300 sqft |
| 2018-08-01 | 53 days | 2,281 sqft |
| 2018-09-01 | 57 days | 2,300 sqft |
| 2018-10-01 | 60 days | 2,285 sqft |
| 2018-11-01 | 63 days | 2,241 sqft |
| 2018-12-01 | 78 days | 2,208 sqft |
| 2019-01-01 | 87 days | 2,221 sqft |
| 2019-02-01 | 92 days | 2,268 sqft |
| 2019-03-01 | 74 days | 2,313 sqft |
| 2019-04-01 | 49 days | 2,349 sqft |
| 2019-05-01 | 43 days | 2,361 sqft |
| 2019-06-01 | 50 days | 2,364 sqft |
| 2019-07-01 | 50 days | 2,295 sqft |
| 2019-08-01 | 52 days | 2,281 sqft |
| 2019-09-01 | 55 days | 2,286 sqft |
| 2019-10-01 | 58 days | 2,285 sqft |
| 2019-11-01 | 64 days | 2,268 sqft |
| 2019-12-01 | 79 days | 2,244 sqft |
| 2020-01-01 | 88 days | 2,273 sqft |
| 2020-02-01 | 92 days | 2,322 sqft |
| 2020-03-01 | 62 days | 2,400 sqft |
| 2020-04-01 | 61 days | 2,400 sqft |
| 2020-05-01 | 65 days | 2,452 sqft |
| 2020-06-01 | 55 days | 2,488 sqft |
| 2020-07-01 | 49 days | 2,447 sqft |
| 2020-08-01 | 45 days | 2,374 sqft |
| 2020-09-01 | 43 days | 2,340 sqft |
| 2020-10-01 | 42 days | 2,319 sqft |
| 2020-11-01 | 47 days | 2,206 sqft |
| 2020-12-01 | 57 days | 2,140 sqft |
| 2021-01-01 | 67 days | 2,100 sqft |
| 2021-02-01 | 64 days | 2,152 sqft |
| 2021-03-01 | 46 days | 2,160 sqft |
| 2021-04-01 | 38 days | 2,129 sqft |
| 2021-05-01 | 39 days | 2,102 sqft |
| 2021-06-01 | 39 days | 2,084 sqft |
| 2021-07-01 | 38 days | 2,072 sqft |
| 2021-08-01 | 41 days | 2,028 sqft |
| 2021-09-01 | 45 days | 2,018 sqft |
| 2021-10-01 | 48 days | 2,004 sqft |
| 2021-11-01 | 52 days | 2,008 sqft |
| 2021-12-01 | 59 days | 2,031 sqft |
| 2022-01-01 | 71 days | 2,056 sqft |
| 2022-02-01 | 61 days | 2,097 sqft |
| 2022-03-01 | 46 days | 2,070 sqft |
| 2022-04-01 | 39 days | 2,089 sqft |
| 2022-05-01 | 40 days | 2,165 sqft |
| 2022-06-01 | 40 days | 2,169 sqft |
| 2022-07-01 | 43 days | 2,168 sqft |
| 2022-08-01 | 49 days | 2,129 sqft |
| 2022-09-01 | 53 days | 2,145 sqft |
| 2022-10-01 | 55 days | 2,150 sqft |
| 2022-11-01 | 63 days | 2,189 sqft |
Kansas City's median square footage for active listings during the 2022-11-01 period was 2,189 sqft. One year prior, the average listing was 2,008 sqft.
