Kansas City FHA Loan Rates, Closing Costs & Stats

KANSAS CITY, MO-KS

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits

    • 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 170 lenders originated 5,531 FHA loans during 2023. The total origination value was $1,300,755,000, with an average FHA loan value of $235,175.

    Kansas City FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Kansas City averaged 6.35% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Kansas City's average FHA mortgage closing costs are $6,628.

    The average rate for the prior week (2024-11-01) was 6.22% and one month ago for the week of 2024-10-04, the average rate was 5.74%.

    The average rate one year ago was 7.18%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.6%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    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.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 577 6.28% $10,105
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 360 6.82% $8,432
    UNITED WHOLESALE MORTGAGE, LLC 271 6.52% $10,320
    LEADERONE FINANCIAL CORPORATION 233 6.67% $9,235
    FLAT BRANCH MORTGAGE, INC. 215 6.76% $8,330
    COMMUNITYAMERICA 152 6.54% $8,003
    PRIMELENDING, A PLAINSCAPITAL COMPANY 146 6.84% $9,483
    COMMUNITY MORTGAGE, LLC 135 6.52% $8,343
    First State Bank of St. Charles, Missouri 104 6.58% $8,229
    GUILD MORTGAGE COMPANY 103 6.66% $9,312
    Prosperity Home Mortgage, LLC 97 6.53% $9,016
    Mr. Cooper ( Nationstar Mortgage ) 90 6.07% $13,001
    FREEDOM MORTGAGE CORPORATION 87 6.95% $12,405
    LOANDEPOT.COM, LLC 83 6.33% $11,379
    BROKER SOLUTIONS, INC. 74 6.69% $11,236
    JLB CORPORATION 73 6.48% $9,782
    ENDEAVOR CAPITAL, LLC. 70 6.53% $9,098
    DAS Acquisition Company, LLC 69 6.84% $9,703
    EVERETT FINANCIAL, INC. 69 6.86% $7,622
    SUMMIT FUNDING, INC. 67 6.77% $9,936
    CROSSCOUNTRY MORTGAGE, LLC 66 6.78% $10,988
    NEWREZ LLC 65 6.54% $9,823
    PENNYMAC LOAN SERVICES, LLC 65 6.36% $11,061
    First Bank 58 6.50% $8,850
    MID AMERICA MORTGAGE, INC. 57 6.62% $3,819
    United Fidelity Funding Corp. 55 7.02% $10,676
    Waterstone Mortgage Corporation 54 6.70% $9,158
    CARDINAL FINANCIAL 53 6.31% $8,585
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 46 6.80% $8,873
    MUTUAL OF OMAHA MORTGAGE, INC. 43 6.56% $12,773
    Neighborhood Loans, Inc. 43 6.96% $9,162
    Plains Commerce Bank 42 6.59% $10,164
    Arvest Bank 42 6.41% $8,125
    AMERISAVE MORTGAGE CORPORATION 41 6.02% $12,562
    OPEN MORTGAGE, LLC 40 6.67% $10,467
    American Mortgage & Equity Consultants, Inc. 40 6.98% $9,137
    Flagstar Bank, FSB 39 6.70% $8,120
    MEGASTAR FINANCIAL CORP. 39 6.79% $8,324
    The Central Trust Bank 36 6.55% $7,414
    NBKC BANK 35 6.26% $8,300
    BAYSHORE MORTGAGE FUNDING, LLC 34 6.85% $10,130
    ACADEMY MORTGAGE CORPORATION 32 6.65% $8,562
    Mazuma Credit Union 31 6.33% $8,239
    HALLMARK HOME MORTGAGE, LLC 29 7.08% $9,393
    SUN WEST MORTGAGE COMPANY, INC. 29 6.67% $9,661
    Carrington Mortgage Services, LLC 29 6.22% $10,093
    LAKEVIEW LOAN SERVICING, LLC 28 6.29% $11,451
    Bell Bank 25 6.64% $8,832
    GUARANTEED RATE, INC. 25 6.65% $9,056
    Mortgage Research Center, LLC 24 7.12% $5,412
    VANDERBILT MORTGAGE AND FINANCE, INC. 24 6.13% $14,204
    UNION HOME MORTGAGE CORP. 24 6.67% $8,852
    S1L, Inc. 24 6.63% $10,732
    First National Bank of Omaha 23 6.59% $8,693
    MORTGAGE SOLUTIONS OF COLORADO, LLC 21 6.92% $11,090
    Commerce Bank 21 6.45% $5,683
    Equity Prime Mortgage LLC 21 6.98% $10,511
    NBH Bank 21 6.63% $6,493
    UMB Bank 20 6.46% $7,398
    PREMIER MORTGAGE RESOURCES, L.L.C. 20 6.69% $9,277
    AMERICAN FINANCIAL NETWORK, INC. 19 7.14% $11,531
    LOANPAL, LLC 18 6.17% $12,324
    North American Savings Bank, F.S.B. 17 6.26% $8,455
    BOKF 17 6.60% $9,010
    PANORAMA MORTGAGE GROUP, LLC 16 7.25% $11,741
    MOVEMENT MORTGAGE, LLC 16 6.71% $9,644
    ZILLOW HOME LOANS, LLC 15 6.60% $10,097
    First Federal Bank of Kansas City 15 6.79% $6,888
    Hawthorn Bank 15 6.25% $7,296
    PLAZA HOME MORTGAGE, INC. 15 6.59% $23,950
    U.S. Bank 14 6.79% $6,591
    Paramount Residential Mortgage Group, Inc. 14 6.79% $9,950
    PLANET HOME LENDING, LLC 14 5.70% $8,262
    AMERICAN PACIFIC MORTGAGE CORPORATION 13 6.77% $9,747
    Midwest Mortgage Associates Corporation 13 6.78% $6,282
    Bank of America 12 5.79% $4,962
    First Federal Bank 11 6.86% $10,578
    TOP FLITE FINANCIAL, INC. 11 6.93% $11,620
    The Federal Savings Bank 11 6.28% $16,095
    FIRST COMMUNITY MORTGAGE, INC. 11 6.76% $11,645
    GENEVA FINANCIAL, LLC 10 6.86% $9,105
    Academy Bank 9 6.63% $7,615
    CALIBER HOME LOANS, INC. 9 6.32% $8,162
    DELMAR FINANCIAL COMPANY 9 6.56% $7,989
    Sierra Pacific Mortgage Company, Inc. 9 6.68% $9,239
    Sunflower Bank 9 6.80% $9,435
    TruHome Solutions, LLC 8 6.13% $11,834
    GERSHMAN INVESTMENT CORP. 8 7.17% $7,767
    Bank of England 8 6.20% $11,375
    American Mortgage Bank, LLC 7 7.23% $8,623
    BAY EQUITY LLC 7 6.00% $13,740
    JPMorgan Chase Bank 7 7.11% $5,969
    PHH Mortgage Corporation 7 6.83% $8,367
    Community First National Bank 7 6.41% $9,334
    AMERICAN FINANCING CORPORATION 7 6.23% $8,742
    HOMEBRIDGE FINANCIAL SERVICES, INC. 6 5.96% $11,551
    ROYAL UNITED MORTGAGE LLC 6 7.19% $8,665
    Regions Bank 6 5.75% $7,849
    THRIVE MORTGAGE, LLC 6 6.96% $10,563
    VILLAGE CAPITAL MORTGAGE 6 5.96% $13,325
    PENTAGON FEDERAL CREDIT UNION 5 5.40% $6,831
    Flanagan State Bank 5 7.05% $9,300
    Mortgage Investment Services Corporation 5 6.58% $7,167
    FIRST INTEGRITY MORTGAGE SERVICES, INC. 5 7.00% $7,331
    Armed Forces Bank 5 6.45% $7,567
    NFM, INC. 5 7.10% $7,745
    AMERICAN FINANCIAL RESOURCES, INC. 5 7.13% $8,966
    M&T Bank 5 6.80% $8,007
    HOMESIDE FINANCIAL, LLC 5 6.50% $9,314
    Fidelity Bank 5 6.90% $8,140
    RESIDENTIAL BANCORP 5 6.53% $15,165
    T2 FINANCIAL LLC 5 7.15% $13,951
    ENVOY MORTGAGE, LTD 4 6.47% $7,801
    Gateway First Bank 4 6.63% $7,210
    First Savings Bank 4 6.31% $10,833
    NATIONS RELIABLE LENDING, LLC 4 7.56% $10,412
    BNC National Bank 4 5.97% $8,683
    Barrington Bank & Trust Company, N.A. 4 6.25% $7,293
    Wells Fargo Bank 4 6.75% $7,439
    Enterprise Bank & Trust 3 6.38% $7,364
    Old National Bank 3 5.63% $7,845
    DRAPER AND KRAMER MORTGAGE CORP. 3 6.83% $10,231
    BMO Harris Bank 3 6.79% $6,861
    Northpointe Bank 3 6.63% $12,657
    VERITAS FUNDING, LLC 3 6.91% $14,569
    OCMBC, INC. 3 7.63% $8,774
    Nations Lending Corporation 3 6.50% $11,455
    Truist 3 6.08% $4,657
    Landmark National Bank 3 6.75% $6,223
    FirstTrust Home Loans, Inc. 3 6.54% $7,647
    CHURCHILL MORTGAGE CORPORATION 3 6.54% $10,737
    LIBERTY HOME MORTGAGE CORPORATION 3 6.71% $16,278
    Equity Bank 3 6.66% $7,779
    GSF Mortgage Corporation 2 5.88% $5,662
    Central National Bank 2 7.06% $6,068
    CMG MORTGAGE, INC. 2 6.13% $12,271
    Members Mortgage Services, L.L.C. 2 7.06% $5,904
    AXIA FINANCIAL, LLC 2 6.06% $10,736
    AmeriHome Mortgage Company, LLC 2 6.19% $10,799
    Financial Funding Solutions, Inc. 2 6.87% $3,482
    TOWNE MORTGAGE COMPANY 2 7.25% $9,611
    Ixonia Bank 2 6.88% $7,451
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.62% $12,858
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 6.44% $8,688
    US MORTGAGE CORPORATION 2 5.94% $14,668
    Oakstar Bank 2 5.69% $6,581
    Great Southern Bank 2 6.38% $11,826
    Magnolia Bank 1 5.63% $12,185
    PREMIA MORTGAGE, LLC 1 6.25% $5,985
    Citizens Bank 1 7.50% $8,184
    Willamette Valley Bank 1 6.25% $13,668
    PINNACLE LENDING GROUP, INC. 1 6.13% $20,073
    CANOPY MORTGAGE, LLC 1 6.13% $5,983
    First-Citizens Bank & Trust Company 1 6.50% $6,128
    First International Bank & Trust 1 6.00% $10,738
    CENTRAL MISSOURI COMMUNITY CREDIT UNION 1 6.75% $4,274
    MYCUMORTGAGE, LLC 1 7.13% $11,032
    HOMEXPRESS MORTGAGE CORP. 1 6.75% $20,989
    BECKAM FUNDING CORP. 1 7.25% $21,133
    BancorpSouth 1 7.13% $4,381
    Meridian Bank Corporation 1 7.00% $11,648
    HOMESITE MORTGAGE, LLC 1 6.63% $8,262
    CORNERSTONE HOME LENDING, INC. 1 5.75% $5,348
    AMCAP MORTGAGE, LTD. 1 7.13% $13,474
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.50% $14,639
    Servion, Inc. 1 5.50% $9,854
    BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 7.25% $10,123
    Springfield First Community Bank 1 6.25% $17,669
    Stride Bank 1 6.75% $11,821
    ASSEMBLIES OF GOD Credit Union 1 6.25% $5,284

    The top Kansas City FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 577 FHA loans originated. Their average total fees are $10,105, which is $1,673 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Kansas City FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($3,819), Bank of America ($4,962), Mortgage Research Center, LLC ($5,412), Commerce Bank ($5,683) and Midwest Mortgage Associates Corporation ($6,282).

    The lowest rate Kansas City FHA lenders (with over 10 loans originated) are PLANET HOME LENDING, LLC (5.70%), Bank of America (5.79%), AMERISAVE MORTGAGE CORPORATION (6.02%), Mr. Cooper ( Nationstar Mortgage ) (6.07%) and VANDERBILT MORTGAGE AND FINANCE, INC. (6.13%).

    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
    KANSAS CITY, MO-KS JOHNSON 2023 $472,030 $604,400 $730,525 $907,900
    KANSAS CITY, MO-KS LEAVENWORTH 2023 $472,030 $604,400 $730,525 $907,900
    KANSAS CITY, MO-KS LINN 2023 $472,030 $604,400 $730,525 $907,900
    KANSAS CITY, MO-KS MIAMI 2023 $472,030 $604,400 $730,525 $907,900
    KANSAS CITY, MO-KS WYANDOTTE 2023 $472,030 $604,400 $730,525 $907,900
    KANSAS CITY, MO-KS BATES 2023 $472,030 $604,400 $730,525 $907,900
    KANSAS CITY, MO-KS CALDWELL 2023 $472,030 $604,400 $730,525 $907,900
    KANSAS CITY, MO-KS CASS 2023 $472,030 $604,400 $730,525 $907,900
    KANSAS CITY, MO-KS CLAY 2023 $472,030 $604,400 $730,525 $907,900
    KANSAS CITY, MO-KS CLINTON 2023 $472,030 $604,400 $730,525 $907,900
    KANSAS CITY, MO-KS JACKSON 2023 $472,030 $604,400 $730,525 $907,900
    KANSAS CITY, MO-KS LAFAYETTE 2023 $472,030 $604,400 $730,525 $907,900
    KANSAS CITY, MO-KS PLATTE 2023 $472,030 $604,400 $730,525 $907,900
    KANSAS CITY, MO-KS RAY 2023 $472,030 $604,400 $730,525 $907,900

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).