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Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
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Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Requires veteran or military eligibility
Loan amount is under conforming limits
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 6.961%APR 6.995% | 0 pts$0 | $1,320/moP&I $1,320 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.967%APR 6.734% | 0 pts$0 | $1,304/moP&I $1,211 · MI $93 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.125%APR 6.174% | 0 pts$0 | $1,211/moP&I $1,211 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.912%APR 6.946% | 0 pts$0 | $1,314/moP&I $1,314 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.689% | 0 pts$0 | $1,410/moP&I $1,410 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 6.125% | 6.174% | 0 pts ($0) | $1,695/mo | $34,298 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.078% | 6.128% | 0 pts ($0) | $2,112/mo | $47,390 |
Condo 10% Down | 10% | 720 credit score | 7.269% | 7.438% | 0 pts ($0) | $1,532/mo | $53,880 |
Conventional 10% Down | 10% | 720 credit score | 6.790% | 6.947% | 0 pts ($0) | $1,460/mo | $50,644 |
Conventional 20% Down | 20% | 740 credit score | 6.961% | 6.995% | 0 pts ($0) | $1,320/mo | $40,963 |
Conventional 5% Down | 5% | 700 credit score | 7.100% | 7.579% | 0 pts ($0) | $1,590/mo | $55,668 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.389% | 7.426% | 0 pts ($0) | $1,722/mo | $59,275 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,474/mo | $49,934 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.846% | 7.221% | 0 pts ($0) | $1,582/mo | $57,165 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.912% | 6.946% | 0 pts ($0) | $1,642/mo | $55,692 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,055/mo | $48,998 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.967% | 6.734% | 0 pts ($0) | $1,461/mo | $51,201 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,509/mo | $52,823 |
FHA Streamline Refi | 0% | 640 credit score | 6.085% | 6.854% | 0 pts ($0) | $1,533/mo | $53,957 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.057% | 7.300% | 0 pts ($0) | $1,583/mo | $57,491 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,558/mo | $30,505 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.689% | 0 pts ($0) | $1,322/mo | $42,144 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.168% | 0 pts ($0) | $1,342/mo | $41,948 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,448/mo | $44,402 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.335% | 7.108% | 0 pts ($0) | $1,519/mo | $53,907 |
Second Home 10% Down | 10% | 720 credit score | 5.972% | 6.543% | 0 pts ($0) | $1,340/mo | $45,127 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,310/mo | $40,501 |
VA 0% Down | 0% | 700 credit score | 6.087% | 6.330% | 0 pts ($0) | $1,539/mo | $50,966 |
VA Cash-Out Refi | 0% | 640 credit score | 6.091% | 6.458% | 0 pts ($0) | $1,540/mo | $50,997 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.098% | 6.249% | 0 pts ($0) | $1,541/mo | $51,050 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,370/mo | $43,354 |
Frequently Asked Questions
What are today's mortgage rates in Franklin County R-II, MO across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Franklin County R-II, MO is 6.961% (with an estimated monthly payment of $1,850). Active program rates also include FHA 30-year fixed loans at 5.967% and VA 0%-down fixed loans at 6.087%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Franklin County R-II, MO?
Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in Franklin County R-II, MO have fluctuated between a low of 6.601% and a high of 7.053%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in Franklin County R-II, MO?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $249,042 in Franklin County R-II, MO, a standard 20%-down Conventional loan requires an upfront cash down payment of $49,808 but keeps your monthly payment lower at $1,850/mo (at 6.961% interest) with no monthly PMI. In comparison, an FHA loan requires only $8,716 (3.5% down) but has an estimated payment of $2,047/mo (at 5.967% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $240,326 falls comfortably within the local HUD FHA loan limit of $524,225 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in Franklin County R-II before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Franklin County R-II is $806,501. With a typical local home value of $249,042 in , a standard 20%-down mortgage requires a loan size of $199,234. Because this is within the $806,501 conforming threshold, buyers can easily qualify for standard conforming conventional financing with competitive rates.
How does the median home value in Franklin County R-II, MO impact estimated mortgage payments?
The median home value in Franklin County R-II, MO is estimated at $249,042. Buying a typical home here with a standard 20% down payment ($49,808) translates to an estimated starting monthly mortgage payment of $1,850 (principal and interest). Compared to the local area median household income of $74,042 ($6,170/mo), this basic housing payment represents approximately 30.0% of gross monthly household income. This housing cost is well within standard lender affordability guidelines (under the 36% DTI benchmark), demonstrating healthy local purchasing power.