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.
See Safe Rate's top scoring lenders for South Iron County R-I
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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 | 6.972%APR 7.007% | 0 pts$0 | $734/moP&I $734 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.970%APR 6.737% | 0 pts$0 | $725/moP&I $673 · MI $52 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.172%APR 6.222% | 0 pts$0 | $676/moP&I $676 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.099%APR 7.175% | 0 pts$0 | $744/moP&I $744 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.695% | 0 pts$0 | $783/moP&I $783 · 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 | 6.172% | 6.222% | 0 pts ($0) | $944/mo | $19,206 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.211% | 6.281% | 0 pts ($0) | $1,183/mo | $26,862 |
Condo 10% Down | 10% | 720 credit score | 7.282% | 7.451% | 0 pts ($0) | $852/mo | $29,984 |
Conventional 10% Down | 10% | 720 credit score | 6.799% | 6.956% | 0 pts ($0) | $812/mo | $28,171 |
Conventional 20% Down | 20% | 740 credit score | 6.972% | 7.007% | 0 pts ($0) | $734/mo | $22,795 |
Conventional 5% Down | 5% | 700 credit score | 7.115% | 7.594% | 0 pts ($0) | $885/mo | $30,988 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.401% | 7.438% | 0 pts ($0) | $958/mo | $32,982 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $819/mo | $27,742 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.849% | 7.224% | 0 pts ($0) | $879/mo | $31,772 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.099% | 7.175% | 0 pts ($0) | $930/mo | $31,722 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,142/mo | $27,222 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.970% | 6.737% | 0 pts ($0) | $812/mo | $28,459 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $838/mo | $29,347 |
FHA Streamline Refi | 0% | 640 credit score | 6.089% | 6.858% | 0 pts ($0) | $852/mo | $29,994 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.072% | 7.316% | 0 pts ($0) | $881/mo | $32,000 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $866/mo | $16,948 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.695% | 0 pts ($0) | $734/mo | $23,414 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.168% | 0 pts ($0) | $746/mo | $23,306 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $805/mo | $24,669 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.340% | 7.113% | 0 pts ($0) | $844/mo | $29,970 |
Second Home 10% Down | 10% | 720 credit score | 5.976% | 6.548% | 0 pts ($0) | $745/mo | $25,087 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $728/mo | $22,501 |
VA 0% Down | 0% | 700 credit score | 6.091% | 6.334% | 0 pts ($0) | $856/mo | $28,333 |
VA Cash-Out Refi | 0% | 640 credit score | 6.095% | 6.463% | 0 pts ($0) | $856/mo | $28,350 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.102% | 6.253% | 0 pts ($0) | $857/mo | $28,380 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $761/mo | $24,087 |
Frequently Asked Questions
What are today's mortgage rates in South Iron County R-I, MO across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in South Iron County R-I, MO is 6.972% (with an estimated monthly payment of $1,775). Active program rates also include FHA 30-year fixed loans at 5.970% and VA 0%-down fixed loans at 6.091%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in South Iron County 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 South Iron County R-I, MO have fluctuated between a low of 6.619% and a high of 7.077%. 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 South Iron County R-I, MO?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $138,363 in South Iron County R-I, MO, a standard 20%-down Conventional loan requires an upfront cash down payment of $27,673 but keeps your monthly payment lower at $1,775/mo (at 6.972% interest) with no monthly PMI. In comparison, an FHA loan requires only $4,843 (3.5% down) but has an estimated payment of $1,963/mo (at 5.970% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $133,520 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 South Iron County R-I before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in South Iron County R-I is $806,501. With a typical local home value of $138,363 in , a standard 20%-down mortgage requires a loan size of $110,690. 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 South Iron County R-I, MO impact estimated mortgage payments?
The median home value in South Iron County R-I, MO is estimated at $138,363. Buying a typical home here with a standard 20% down payment ($27,673) translates to an estimated starting monthly mortgage payment of $1,775 (principal and interest). Compared to the local area median household income of $58,333 ($4,861/mo), this basic housing payment represents approximately 36.5% of gross monthly household income. Because this housing cost exceeds the standard 36% lender DTI guideline, buyers in this high-value area may need larger down payments, lower debt balances, or co-borrower income to qualify.