Select your Scenario
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 | 7.047%APR 7.088% | 0 pts$0 | $1,129/moP&I $1,129 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.085%APR 6.860% | 0 pts$0 | $1,118/moP&I $1,040 · MI $79 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.298%APR 6.358% | 0 pts$0 | $1,045/moP&I $1,045 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.066%APR 7.108% | 0 pts$0 | $1,131/moP&I $1,131 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.693% | 0 pts$0 | $1,195/moP&I $1,195 · 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 | 6.298% | 6.358% | 0 pts ($0) | $1,452/mo | $29,920 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.249% | 6.309% | 0 pts ($0) | $1,810/mo | $41,216 |
Condo 10% Down | 10% | 720 credit score | 7.265% | 7.441% | 0 pts ($0) | $1,298/mo | $45,648 |
Conventional 10% Down | 10% | 720 credit score | 6.846% | 7.011% | 0 pts ($0) | $1,244/mo | $43,248 |
Conventional 20% Down | 20% | 740 credit score | 7.047% | 7.088% | 0 pts ($0) | $1,129/mo | $35,160 |
Conventional 5% Down | 5% | 700 credit score | 7.244% | 7.736% | 0 pts ($0) | $1,367/mo | $48,057 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.488% | 7.532% | 0 pts ($0) | $1,474/mo | $50,874 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,249/mo | $42,326 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.854% | 7.235% | 0 pts ($0) | $1,342/mo | $48,504 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.066% | 7.108% | 0 pts ($0) | $1,414/mo | $48,187 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,742/mo | $41,533 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.085% | 6.860% | 0 pts ($0) | $1,254/mo | $44,135 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,279/mo | $44,775 |
FHA Streamline Refi | 0% | 640 credit score | 6.280% | 7.058% | 0 pts ($0) | $1,327/mo | $46,996 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.167% | 7.419% | 0 pts ($0) | $1,357/mo | $49,397 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,321/mo | $25,858 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.693% | 0 pts ($0) | $1,121/mo | $35,723 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,138/mo | $35,557 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,227/mo | $37,637 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.448% | 7.229% | 0 pts ($0) | $1,303/mo | $46,399 |
Second Home 10% Down | 10% | 720 credit score | 6.086% | 6.666% | 0 pts ($0) | $1,150/mo | $38,903 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,110/mo | $34,330 |
VA 0% Down | 0% | 700 credit score | 6.089% | 6.337% | 0 pts ($0) | $1,305/mo | $43,214 |
VA Cash-Out Refi | 0% | 640 credit score | 6.094% | 6.467% | 0 pts ($0) | $1,306/mo | $43,246 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.112% | 6.269% | 0 pts ($0) | $1,308/mo | $43,363 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,162/mo | $36,749 |
Frequently Asked Questions
What are today's mortgage rates in Richmond R-XVI, MO across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Richmond R-XVI, MO is 7.047% (with an estimated monthly payment of $1,400). Active program rates also include FHA 30-year fixed loans at 6.085% and VA 0%-down fixed loans at 6.089%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Richmond R-XVI, 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 Richmond R-XVI, MO have fluctuated between a low of 6.931% and a high of 7.191%. 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 Richmond R-XVI, MO?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $211,098 in Richmond R-XVI, MO, a standard 20%-down Conventional loan requires an upfront cash down payment of $42,220 but keeps your monthly payment lower at $1,400/mo (at 7.047% interest) with no monthly PMI. In comparison, an FHA loan requires only $7,388 (3.5% down) but has an estimated payment of $1,555/mo (at 6.085% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $203,710 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 Richmond R-XVI before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Richmond R-XVI is $806,501. With a typical local home value of $211,098 in , a standard 20%-down mortgage requires a loan size of $168,878. 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 Richmond R-XVI, MO impact estimated mortgage payments?
The median home value in Richmond R-XVI, MO is estimated at $211,098. Buying a typical home here with a standard 20% down payment ($42,220) translates to an estimated starting monthly mortgage payment of $1,400 (principal and interest). Compared to the local area median household income of $67,631 ($5,636/mo), this basic housing payment represents approximately 24.8% 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.