Mortgage lenders in Kansas August 2019 | finder.com

Getting a mortgage in Kansas

Expect closing costs that are lower than average throughout this Midwest state.

Last updated:

Downtown Topeka in Kansas US

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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.

Mortgage lenders in Kansas

Name Product Min. credit score State availability Loans offered
620
Available in all states
Purchase, Refinance, Home Equity, HELOC, Jumbo, Reverse, Fixed, Adjustable, FHA, VA, USDA
Connect with vetted home loan lenders quickly through this online marketplace.
Vylla
Vylla
620
Not available in: HI, MA, NV, NY, ND, UT
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA
Explore financing options and home shopping services all on the same website.
620
Not available in: HI, NY
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA, Reverse
A hassle-free lender specialized in home loans.
620
Available in all states
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA
Flexible options, fast approvals and support online backed by a trusted brand.
620
Available in all states
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA
A subsidiary of CIT Group, CIT Bank is a direct lender that offers a variety of mortgage loan options.
620
Available in all states
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA
Streamline your mortgage from quote to final payment — all from your computer or phone.

Compare up to 4 providers

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.

AreasLoan typeMaximum income
Kansas City — Leavenworth, Wyandotte, Johnson, Linn and MiamiGovernment programs through the FHA, USDA and VA$92,000
Kansas City — Leavenworth, Wyandotte, Johnson, Linn and MiamiConventional$112,000
LawrenceGovernment programs through the FHA, USDA and VA$90,965
LawrenceConventional$110,740
All other areasGovernment programs through the FHA, USDA and VA$84,065
All other areasConventional$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.

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.

Name Product Min. down payment Origination fee
0%
None
No lender fees and an easy online application from this top VA lender.
Vylla
Vylla
Depends
Explore financing options and home shopping services all on the same website.
0%
N/A
A hassle-free lender specialized in home loans.
0.5% to 1.0%
Flexible options, fast approvals and support online backed by a trusted brand.

Compare up to 4 providers

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.

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