Missouri mortgage calculator

This mortgage calculator will help you estimate the costs of your mortgage loan. Get a clear breakdown of your potential mortgage payments with taxes and insurance included.
Missouri housing market
Missouri, the Show Me State, falls just out of the top 10 of most affordable states for homeownership, with the median homeowner spending just over 18% of their income on their home. In 2018, Missouri saw average home value jump by almost 9%, with growth, albeit at a slower rate, predicted for 2019. Looking for a more urban lifestyle in a relatively rural state? Kansas City, and nearby Overland Park, rank in the top 30 cities for buying a home in their respective categories.
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30 year fixed loan term
Principal and Interest

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Principal and Interest

What rate will you likely qualify for?Get personalized mortgage rates.
Compare common loan types
Total principal: $240,000
Loan Term
30-year fixed
Your Input
15-year fixed30-year fixed
Total Monthly Payment$2,114$2,474$2,014
Mortgage Rate7.5%6.103%*6.887%*
Total interest paid$364,121$126,954$328,279
* Data source: ©Zillow, Inc. 2006 – 2024. Use is subject to the Terms of Use
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Missouri mortgage and refinance rates today (APR)

ProductInterest rateAPR
30-year fixed-rate6.784%6.869%
20-year fixed-rate6.624%6.728%
15-year fixed-rate6.013%6.148%
10-year fixed-rate5.875%6.097%
7-year ARM7.282%7.806%
5-year ARM7.129%7.904%
30-year fixed-rate FHA6.178%6.944%
30-year fixed-rate VA5.875%6.256%

Data source: ©Zillow, Inc. 2006 – 2021. Use is subject to the Terms of Use

Today's rate

30-year fixed

Today’s mortgage rates in Missouri are 6.869% for a 30-year fixed, 6.148% for a 15-year fixed, and 7.904% for a 5-year adjustable-rate mortgage (ARM).

Getting ready to buy a home? We’ll find you a highly rated lender in just a few minutes.

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Missouri's first-time home buyer programs

The Missouri Housing Development Commission, or MHDC, offers several loan programs to help qualified first-time home buyers get a mortgage.

First Place Loan Program

State program

Review MHDC Lenders

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Best for

Low mortgage rates

Down payment assistance

What you need to know

The First Place loan program comes in two varieties: with down payment assistance and without. The program without down payment assistance offers below-market interest rates on mortgages for first-time home buyers. Interest rates are usually a quarter to half a percentage point lower than rates of...

See full article

Missouri's best mortgage lenders

NerdWallet has done the work for you to pick the best financing partner for you in Missouri.

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Average property tax in Missouri counties

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in Missouri. Because assessed values aren’t frequently updated, you may pay a higher rate at first but eventually you’ll pay a similar rate.

CountyAvg. property tax rateAvg. home value
Adair County0.69%$117,700
Andrew County0.96%$136,400
Atchison County1.03%$82,000
Audrain County0.68%$95,800
Barry County0.66%$112,600
Barton County0.8%$97,500
Bates County0.62%$108,300
Benton County0.67%$114,600
Bollinger County0.6%$97,100
Boone County0.91%$181,900
Buchanan County0.83%$118,200
Butler County0.67%$104,600
Caldwell County0.83%$103,600
Callaway County0.75%$132,500
Camden County0.6%$176,300
Cape Girardeau County0.74%$158,300
Carroll County0.92%$81,800
Carter County0.61%$90,400
Cass County1.01%$172,100
Cedar County0.63%$92,700
Chariton County0.74%$81,300
Christian County0.78%$161,800
Clark County0.86%$85,000
Clay County1.3%$176,100
Clinton County0.9%$142,000
Cole County0.83%$162,600
Cooper County0.77%$128,900
Crawford County0.61%$116,100
Dade County0.77%$75,700
Dallas County0.55%$107,400
Daviess County0.79%$101,100
DeKalb County0.91%$111,600
Dent County0.61%$107,300
Douglas County0.49%$101,700
Dunklin County0.68%$69,500
Franklin County0.77%$165,800
Gasconade County0.71%$123,000
Gentry County1.15%$85,600
Greene County0.8%$148,000
Grundy County0.78%$85,100
Harrison County0.85%$72,800
Henry County0.81%$92,200
Hickory County0.49%$90,200
Holt County0.87%$93,700
Howard County0.78%$116,300
Howell County0.45%$102,200
Iron County0.66%$83,100
Jackson County1.31%$142,300
Jasper County0.78%$113,900
Jefferson County0.91%$162,500
Johnson County0.75%$147,000
Knox County0.85%$72,400
Laclede County0.54%$112,700
Lafayette County0.93%$122,600
Lawrence County0.7%$98,000
Lewis County0.79%$85,500
Lincoln County0.81%$154,100
Linn County0.7%$80,400
Livingston County0.84%$106,000
Macon County0.7%$89,000
Madison County0.78%$99,800
Maries County0.61%$122,800
Marion County0.82%$113,500
McDonald County0.58%$97,000
Mercer County1.1%$82,500
Miller County0.59%$126,500
Mississippi County0.85%$73,400
Moniteau County0.68%$118,400
Monroe County0.72%$103,100
Montgomery County0.86%$105,300
Morgan County0.7%$115,600
New Madrid County0.77%$74,500
Newton County0.57%$118,200
Nodaway County0.81%$117,800
Oregon County0.57%$87,200
Osage County0.66%$140,500
Ozark County0.49%$91,800
Pemiscot County0.99%$73,300
Perry County0.72%$131,900
Pettis County0.76%$111,400
Phelps County0.65%$126,100
Pike County0.7%$106,500
Platte County1.25%$219,000
Polk County0.67%$122,600
Pulaski County0.67%$141,700
Putnam County0.99%$84,500
Ralls County0.71%$126,000
Randolph County0.93%$93,800
Ray County0.83%$129,700
Reynolds County0.55%$90,300
Ripley County0.59%$87,800
Saline County0.82%$96,700
Schuyler County0.83%$72,500
Scotland County0.49%$82,000
Scott County0.71%$103,300
Shannon County0.42%$101,400
Shelby County0.87%$70,300
St. Charles County1.2%$220,100
St. Clair County0.83%$78,500
Ste. Genevieve County0.85%$148,800
St. Francois County0.77%$124,700
St. Louis city1.0%$141,400
St. Louis County1.27%$197,300
Stoddard County0.68%$91,300
Stone County0.5%$160,600
Sullivan County0.67%$77,700
Taney County0.65%$124,400
Texas County0.37%$105,800
Vernon County0.76%$97,100
Warren County0.84%$166,100
Washington County0.55%$90,400
Wayne County0.59%$72,700
Webster County0.61%$122,500
Worth County0.76%$60,600
Wright County0.48%$89,500

Source: American Communities Survey 2016, U.S. Census

How to calculate a mortgage payment

Under "Home price," enter the price (if you're buying) or the current value (if you're refinancing). NerdWallet also has a refinancing calculator.

Under "Down payment," enter the amount of your down payment (if you’re buying) or the amount of equity you have (if refinancing). A down payment is the cash you pay upfront for a home, and home equity is the value of the home, minus what you owe.

On desktop, under "Interest rate" (to the right), enter the rate. Under "Loan term," click the plus and minus signs to adjust the length of the mortgage in years.

On mobile devices, tap "Refine Results" to find the field to enter the rate and use the plus and minus signs to select the "Loan term."

You may enter your own figures for property taxes, homeowners insurance and homeowners association fees, if you don’t wish to use NerdWallet’s estimates. Edit these figures by clicking on the amount currently displayed.

The mortgage calculator lets you click "Compare common loan types" to view a comparison of different loan terms. Click "Amortization" to see how the principal balance, principal paid (equity) and total interest paid change year by year. On mobile devices, scroll down to see "Amortization."

Formula for calculating a mortgage payment

The mortgage payment calculation looks like this: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

The variables are as follows:

  • M = monthly mortgage payment

  • P = the principal amount

  • i = your monthly interest rate. Your lender likely lists interest rates as an annual figure, so you’ll need to divide by 12, for each month of the year. So, if your rate is 5%, then the monthly rate will look like this: 0.05/12 = 0.004167.

  • n = the number of payments over the life of the loan. If you take out a 30-year fixed rate mortgage, this means: n = 30 years x 12 months per year, or 360 payments.

How a mortgage calculator helps you

Determining what your monthly house payment will be is an important part of figuring out how much house you can afford. That monthly payment is likely to be the biggest part of your cost of living.

Using NerdWallet’s mortgage calculator lets you estimate your mortgage payment when you buy a home or refinance. You can change loan details in the calculator to run scenarios. The calculator can help you decide:

  • The home loan term length that’s right for you. 30-year fixed-rate mortgage lower your monthly payment, but you’ll pay more interest over the life of the loan. A 15-year fixed-rate mortgage reduce the total interest you'll pay, but your monthly payment will be higher. c

  • If an ARM is a good option. Adjustable-rate mortgages start with a "teaser" interest rate, and then the loan rate changes — higher or lower — over time. A 5/1 ARM can be a good choice, particularly if you plan on being in a home for just a few years. You’ll want to be aware of how much your monthly mortgage payment can change when the introductory rate expires, especially if interest rates are trending higher.

  • If you’re buying too much home. The mortgage payment calculator can give you a reality check on how much you can expect to pay each month, especially when considering all the costs, including taxes, insurance and private mortgage insurance.

  • If you’re putting enough money down. With minimum down payments commonly as low as 3%, it's easier than ever to put just a little money down. The mortgage payment calculator can help you decide what the best down payment may be for you.

How lenders decide how much you can afford to borrow

Mortgage lenders are required to assess your ability to repay the amount you want to borrow. A lot of factors go into that assessment, and the main one is debt-to-income ratio.

Your debt-to-income ratio is the percentage of pretax income that goes toward monthly debt payments, including the mortgage, car payments, student loans, minimum credit card payments and child support. Lenders look most favorably on debt-to-income ratios of 36% or less — or a maximum of $1,800 a month on an income of $5,000 a month before taxes.

Typical costs included in a mortgage payment

If your mortgage payment included just principal and interest, you could use a bare-bones mortgage calculator. But most mortgage payments include other charges as well. Here are the key components of the monthly mortgage payment:

  • Principal: This is the amount you borrow. Each mortgage payment reduces the principal you owe.

  • Interest: What the lender charges you to lend you the money. Interest rates are expressed as an annual percentage.

  • Property taxes: The annual tax assessed by a government authority on your home and land. You pay about one-twelfth of your annual tax bill with each mortgage payment, and the servicer saves them in an escrow account. When the taxes are due, the loan servicer pays them.

  • Homeowners insurance: Your policy covers damage and financial losses from fire, storms, theft, a tree falling on your house and other bad things. As with property taxes, you pay roughly one-twelfth of your annual premium each month, and the servicer pays the bill when it's due.

  • Mortgage insurance: If your down payment is less than 20% of the home’s purchase price, you’ll likely pay mortgage insurance. It protects the lender’s interest in case a borrower defaults on a mortgage. Once the equity in your property increases to 20%, the mortgage insurance is canceled, unless you have an FHA loan backed by the Federal Housing Administration.

Typically, when you belong to a homeowners association, the dues are billed directly, and it's not added to the monthly mortgage payment. Because HOA dues can be easy to forget, they're included in NerdWallet's mortgage calculator.

Reducing monthly mortgage payments

The mortgage calculator lets you test scenarios to see how you can reduce the monthly payments:

  • Extend the term (the number of years it will take to pay off the loan). With a longer term, your payment will be lower but you’ll pay more interest over the years. Review your amortization schedule to see the impact of extending your loan.

  • Buy less house. Taking out a smaller loan means a smaller monthly mortgage payment.

  • Avoid paying PMI. With a down payment of 20% or more, you won’t have to pay private mortgage insurance. Similarly, keeping at least 20% equity in the home lets you avoid PMI when you refinance.

  • Get a lower interest rate. Making a larger down payment can not only let you avoid PMI, but reduce your interest rate, too. That means a lower monthly mortgage payment.

Monthly mortgage payments can go up

Your monthly payment can go up over time if:

  • Property taxes or homeowners insurance premiums rise. These costs are included in most mortgage payments.

  • You incur a late payment fee from your mortgage loan servicer.

  • You have an adjustable-rate mortgage and the rate rises at the adjustment period.