Getting a mortgage in Kansas

Mortgage lenders have plenty to offer residents of the Sunflower State. From Junction City to Prairie Village, compare loan terms and closing fees on traditional mortgages and through government-backed programs.

What to consider when looking for a mortgage in Kansas

Many big lenders in the Sunflower State do business across the nation, like Bank of America and Wells Fargo. But if you’re already a member of a local credit union, consider using its rates and fees as a baseline. Credit unions often offer stronger terms than traditional banks. For example, the popular CommunityAmerica Credit Union offers an adjustable-rate loan with no down payment for first-time homebuyers.

Kansas law says that sellers must disclose information about properties to potential buyers, including environmental hazards, physical conditions and material defects. But compared with the rest of the US, Kansas disclosure laws are lenient.

While property disclosure forms aren’t provided by the Kansas Real Estate Commission, the Kansas Association of Realtors provides a sample form online that includes information you can expect to receive from a seller. You can also request a property inspection through a third party for peace of mind.

Compare mortgage lenders and brokers

Compare these lenders and lender marketplaces by the type of home loan you're searching for, state availability and minimum credit score (for a conventional loan). Select See rates to provide the company with basic property and financial details for personalized rates.

Government-backed financing in Kansas

The statewide Kansas Housing Assistance Program offers 30-year fixed rate mortgages that come with a grant of up to 5% for assistance with your down payment or closing costs.

Eligibility is open to those with fair credit who are looking at homes of up to $453,100 and meet specific income limits that vary by location and loan type.

Areas	Loan type	Maximum income
Kansas City — Leavenworth, Wyandotte, Johnson, Linn and Miami	Government programs through the FHA, USDA and VA	$92,000
Kansas City — Leavenworth, Wyandotte, Johnson, Linn and Miami	Conventional	$112,000
Lawrence	Government programs through the FHA, USDA and VA	$90,965
Lawrence	Conventional	$110,740
All other areas	Government programs through the FHA, USDA and VA	$84,065
All other areas	Conventional	$102,340

Programs from the FHA, the USDA and other federal agencies may land you lower interest and stronger terms than mortgages directly from a bank, especially if you’re a first-time homebuyer or buying a home in a rural or suburban area.

How to refinance a USDA loan

Mortgage lenders for veterans in Kansas

Mortgages through the Veterans Affairs home loan program are backed by the US government and open to veterans, active service members and eligible military spouses. Loans come with low or no down payments and low interest rates without private mortgage insurance requirements or prepayment penalties.

Many private lenders throughout the state also licensed to offer VA mortgages directly to eligible homebuyers, which could mean sticking to your current bank.

Closing cost fees in Kansas

Closing costs in Kansas average $2,504 after taxes, which is lower than the national average. Expect to pay 0.83% to 1.25% of the final sale price of the property.

While the seller of the property pays the property tax up until the day of closing, you’re expected to shoulder this cost from closing day forward. Your real estate agent can help you determine your property taxes after you’ve found a home you’re interested in purchasing.

Closing costs in Kansas

How to compare lenders in Kansas

Suss out your provider’s lending requirements by asking about minimum credit scores, down payments and closing costs. These numbers can affect the mortgage and rate you qualify for, so know your lender’s expectations ahead of time.

Assemble a few rate quotes from competing providers. You may be surprised to learn that you can use these figures to leverage a better rate.

You’ll also want to know about any special mortgage programs your lender offers, especially if you’re a rural or first-time homebuyer.

Bottom line

Home is where the heart is, and this certainly holds true for those looking to purchase property in the Sunflower State. With lower than average closing costs and multiple lenders to choose from, Kansas real estate has plenty to entice a potential homebuyer.

Find the best home loan to fit your budget by exploring your mortgage options.

Frequently asked questions.

• How much does it cost to buy property in Kansas?

  The median home price in the Sunflower State is $199,900, according to Zillow, while the median home value is $140,400 as of August 2019.

• Do I need a lawyer when purchasing a home in Kansas?

  No. An attorney isn’t required by state law during the closing process. However, realtors aren’t qualified to provide legal advice. Consider hiring an attorney to review your purchase agreement before you sign off on it to ensure the closing process proceeds smoothly.

• What are the most expensive cities in Kansas to buy a home?

  Overland Park, Lenexa and Shawnee — all part of the Kansas City metropolitan area — boasts median house prices that range from $226,500 to $262,600, according to Zillow.