How much mortgage can I afford in Missouri?

When it comes to home loans, lenders look at your debt-to-income (DTI) ratio. Your mortgage payment should not be more than 28% of your gross monthly income or 36% of your overall debt.

What is the average mortgage in Missouri?

The average outstanding mortgage in Missouri is $139,545.

Do I have enough cash for a down payment for a mortgage in Missouri?

In general, putting down a larger down payment lowers your monthly mortgage payments. A minimum rate, such as 3% for Freddie Mac and Fannie Mae or 3.5% for an FHA loan, may be needed.

Do you really need private mortgage insurance in Missouri?

Most traditional loans require borrowers to acquire private mortgage insurance if their down payment is less than 20%.

What are the average annual property taxes in Missouri?

The cost of monthly mortgage payments is influenced by property taxes. The average annual property tax in Missouri is $2,111.

What is the average monthly mortgage payment in Missouri?

Missouri homeowners spend an average of $1,020 per month on mortgage payments. That's around $139 less than the national average monthly mortgage payment.

What is the median home price in Missouri?

Missouri's median house price is $163,700.

Missouri Mortgage Calculator: Estimate Your Monthly Payment

Several factors come into play when purchasing a property, and one big concern is the costs involved. For many people, getting a mortgage is the best option. The average monthly mortgage payment in Missouri is $1,020. However, rates will vary depending on your situation. Use MoneyGeek's Missouri mortgage calculator to determine how much your monthly payment will be based on your unique factors.

Missouri Mortgage Calculator: Estimate Your Monthly Payment

On This Page