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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 | 6.982%APR 7.021% | 0 pts$0 | $1,535/moP&I $1,535 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.069%APR 6.842% | 0 pts$0 | $1,529/moP&I $1,421 · MI $108 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.221%APR 6.278% | 0 pts$0 | $1,419/moP&I $1,419 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.004%APR 7.044% | 0 pts$0 | $1,539/moP&I $1,539 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.714% | 0 pts$0 | $1,637/moP&I $1,637 · 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 | 6.221% | 6.278% | 0 pts ($0) | $1,979/mo | $40,447 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.101% | 6.158% | 0 pts ($0) | $2,455/mo | $55,189 |
Condo 10% Down | 10% | 720 credit score | 7.311% | 7.486% | 0 pts ($0) | $1,785/mo | $62,859 |
Conventional 10% Down | 10% | 720 credit score | 6.803% | 6.965% | 0 pts ($0) | $1,696/mo | $58,875 |
Conventional 20% Down | 20% | 740 credit score | 6.982% | 7.021% | 0 pts ($0) | $1,535/mo | $47,685 |
Conventional 5% Down | 5% | 700 credit score | 7.122% | 7.608% | 0 pts ($0) | $1,849/mo | $64,786 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.431% | 7.473% | 0 pts ($0) | $2,007/mo | $69,155 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,710/mo | $57,949 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.840% | 7.220% | 0 pts ($0) | $1,835/mo | $66,290 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.004% | 7.044% | 0 pts ($0) | $1,924/mo | $65,433 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,385/mo | $56,863 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.069% | 6.842% | 0 pts ($0) | $1,714/mo | $60,290 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,751/mo | $61,301 |
FHA Streamline Refi | 0% | 640 credit score | 6.263% | 7.039% | 0 pts ($0) | $1,813/mo | $64,192 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.085% | 7.333% | 0 pts ($0) | $1,842/mo | $66,950 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,808/mo | $35,402 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.714% | 0 pts ($0) | $1,534/mo | $48,909 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,558/mo | $48,681 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,681/mo | $51,529 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.433% | 7.212% | 0 pts ($0) | $1,781/mo | $63,397 |
Second Home 10% Down | 10% | 720 credit score | 6.077% | 6.655% | 0 pts ($0) | $1,572/mo | $53,192 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,520/mo | $47,002 |
VA 0% Down | 0% | 700 credit score | 6.090% | 6.337% | 0 pts ($0) | $1,787/mo | $59,173 |
VA Cash-Out Refi | 0% | 640 credit score | 6.077% | 6.449% | 0 pts ($0) | $1,785/mo | $59,058 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.085% | 6.240% | 0 pts ($0) | $1,786/mo | $59,129 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,590/mo | $50,313 |
Frequently Asked Questions
What are today's mortgage rates in Lamar R-I, MO across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Lamar R-I, MO is 6.982% (with an estimated monthly payment of $1,626). Active program rates also include FHA 30-year fixed loans at 6.069% and VA 0%-down fixed loans at 6.090%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Lamar R-I, 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 Lamar R-I, MO have fluctuated between a low of 6.871% and a high of 7.124%. 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 Lamar R-I, MO?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $289,017 in Lamar R-I, MO, a standard 20%-down Conventional loan requires an upfront cash down payment of $57,803 but keeps your monthly payment lower at $1,626/mo (at 6.982% interest) with no monthly PMI. In comparison, an FHA loan requires only $10,116 (3.5% down) but has an estimated payment of $1,815/mo (at 6.069% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $278,901 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 Lamar R-I before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Lamar R-I is $806,501. With a typical local home value of $289,017 in , a standard 20%-down mortgage requires a loan size of $231,214. 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 Lamar R-I, MO impact estimated mortgage payments?
The median home value in Lamar R-I, MO is estimated at $289,017. Buying a typical home here with a standard 20% down payment ($57,803) translates to an estimated starting monthly mortgage payment of $1,626 (principal and interest). Compared to the local area median household income of $82,876 ($6,906/mo), this basic housing payment represents approximately 23.5% 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.