Missouri Down Payment Calculator 2026 — How Much to Save
Last updated: April 2026 · Source: Zillow, Freddie Mac, Tax Foundation
Quick Answer
For the Missouri median home price of $230,000, you need: $6,900 for a 3% conventional loan, $8,050 for FHA (3.5%), $23,000 for 10% down (lower PMI), or $46,000 for 20% (no PMI). VA and USDA loans offer 0% down for eligible buyers.
Missouri Housing & Mortgage Data
| Median Home Price | $230,000 |
| 30-Year Fixed Rate | 6.85%(State average, Apr 2026) |
| Property Tax Rate | 0.99%(Effective rate) |
| Avg HO Insurance | $2,000/yr ($167/mo) |
| Typical Down Payment | 10% ($23,000) |
| Median Household Income | $60,000/yr |
Key Facts for Missouri
- ✓Missouri median home price is $230,000 as of 2026
- ✓30-year fixed mortgage rates in Missouri average 6.85%
- ✓Property taxes in Missouri are 0.99% — near the national average of 1.10%
- ✓Homeowners insurance averages $2,000/year in Missouri
- ✓A household earning $57,500/year can typically afford the median Missouri home
More Missouri Calculators
Frequently Asked Questions — Down Payment Calculator in Missouri
- Are there down payment assistance programs in Missouri?
- Yes. Missouri offers state-level down payment assistance (DPA) programs through its Housing Finance Agency. Programs typically offer 2–5% of the purchase price as a forgivable grant or low-interest second loan for first-time buyers who meet income and purchase price limits. Search "Missouri Housing Finance Agency" for current programs.
- Is a 20% down payment required to buy a home in Missouri?
- No. The 20% down payment is a myth. Conventional loans start at 3% down, FHA loans at 3.5% down, and VA/USDA loans offer 0% down for eligible buyers. The tradeoff: anything below 20% requires PMI on a conventional loan. On a $230,000 home, 20% down is $46,000 vs $6,900 for 3% down.
- What is the average mortgage payment in Missouri?
- The average monthly mortgage payment (principal + interest) in Missouri is approximately $1,356 for a $207,000 loan at 6.85% over 30 years. Adding property tax ($190/mo) and homeowners insurance ($167/mo) brings total PITI to about $1,712/month.
- What credit score do I need for a mortgage in Missouri?
- Most Missouri lenders require a minimum 620 credit score for conventional loans and 580 for FHA loans (with 3.5% down). For the best rates in Missouri, aim for 740+. A higher score can reduce your rate by 0.5–1.0%, saving $31,050 over the life of a 30-year loan.
- How much down payment is required to buy a home in Missouri?
- You can buy a home in Missouri with as little as 0% down (VA, USDA loans for eligible buyers), 3% down (conventional), or 3.5% down (FHA). On the Missouri median home price of $230,000, a 20% down payment is $46,000 and lets you avoid PMI. Missouri also has state-level down payment assistance programs for first-time buyers.
- What are current mortgage rates in Missouri?
- Current 30-year fixed mortgage rates in Missouri average 6.85% as of April 2026. 15-year fixed rates are typically 0.5–0.75% lower. Rates vary by lender, credit score, and loan-to-value ratio. Compare at least 3–5 lenders to ensure you get the best Missouri mortgage rate.
- What is the property tax rate in Missouri?
- Missouri's effective property tax rate is 0.99%. On the Missouri median home value of $230,000, annual property taxes are approximately $2,277 ($190/month). Property taxes in Missouri are typically escrowed in your monthly mortgage payment.