Missouri Mortgage Guide 2026
This Missouri mortgage guide covers everything you need to know about getting a mortgage in Missouri — FHA loan limits statewide, MHDC down payment assistance, property taxes, closing costs, and the 2026 Missouri housing market outlook.
Missouri Mortgage Guide: Loan Limits by County (2026)
All 115 Missouri counties are at the national FHA floor for 2026 — Missouri has no high-cost counties. The conforming loan limit is also uniform statewide at the national baseline. This makes Missouri one of the more straightforward states for loan limit purposes: the same numbers apply whether you’re buying in Kansas City, St. Louis, or a rural county.
| County | Conforming Limit | FHA Limit | Notes |
|---|---|---|---|
| Jackson (Kansas City) | $832,750 | $541,287 | National floor |
| Clay / Platte / Cass | $832,750 | $541,287 | National floor |
| St. Louis City / County | $832,750 | $541,287 | National floor |
| St. Charles | $832,750 | $541,287 | National floor |
| Boone (Columbia) | $832,750 | $541,287 | National floor |
| Greene (Springfield) | $832,750 | $541,287 | National floor |
| Pulaski (Fort Leonard Wood) | $832,750 | $541,287 | National floor |
| Johnson (Whiteman AFB) | $832,750 | $541,287 | National floor |
| All other counties | $832,750 | $541,287 | National floor |
Every Missouri county sits at the national floor. All 115 counties carry the same $541,287 FHA limit and $832,750 conforming limit — there are no elevated or high-cost designations anywhere in the state. Confirm your county at HUD’s official lookup tool.
Loan Programs Available in Missouri
All major federal mortgage programs are available statewide in Missouri. Here’s how each compares for Missouri buyers:
| Program | Min Down Payment | Min Credit Score | Best For |
|---|---|---|---|
| FHA | 3.5% | 580 | First-time buyers, lower credit scores |
| VA | 0% | 580–620 | Veterans, active duty, surviving spouses |
| USDA | 0% | 640 | Rural Missouri buyers meeting income limits |
| Conventional | 3–20% | 620 | Strong credit, wants PMI cancellation |
| MHDC First Place | 0% effective | 640 | First-time buyers with FHA/VA/USDA/conventional first mortgage + forgivable second |
| MHDC Next Step | 0% effective | 640 | Repeat buyers or those above First Place income limits |
MHDC Down Payment Assistance Programs
The Missouri Housing Development Commission (MHDC) offers two main down payment and closing cost assistance programs that pair with a first mortgage. Unlike some states’ HFA programs, both MHDC programs use the same 4% forgivable structure — the difference is who qualifies.
| Program | Assistance | Who Qualifies |
|---|---|---|
| First Place | 4% forgivable second loan for down payment and closing costs | First-time buyers and veterans, within income and purchase price limits |
| Next Step | 4% forgivable second loan for down payment and closing costs | First-time and repeat buyers with higher income limits than First Place |
Both MHDC programs forgive the second loan 100% after 10 years. The assistance reduces by 1/60th each month starting in year five until it reaches zero at year ten, as long as you keep occupying the home and the original loan. Minimum credit score is 640 for both programs. Confirm current income and purchase price limits at mhdc.com.
Missouri Property Taxes
Missouri property taxes are assessed and collected at the county level, and rates vary depending on local school district and municipal levies. Missouri’s statewide average effective property tax rate is around 0.89%, below the national average, though individual counties range from under 0.7% to over 1.1%.
| Home Value | Est. Annual Tax (0.89%) | Monthly Escrow |
|---|---|---|
| $200,000 | $1,780 | $148 |
| $300,000 | $2,670 | $223 |
| $400,000 | $3,560 | $297 |
Rates vary meaningfully by county. Jackson County and St. Louis County run higher (around 1.1%), while Greene County (Springfield) runs lower (around 0.67%). Boone County (Columbia) sits close to the statewide average (around 0.80%). Confirm the exact rate for your address with the county assessor before closing.
Closing Costs in Missouri
Missouri closing costs are relatively low compared to many states because Missouri has no state real estate transfer tax — a rule written directly into the Missouri Constitution. Buyers typically pay 2–3% of the purchase price in closing costs, with the largest buyer-side line items being loan origination, appraisal, and title insurance.
| Fee | Typical Amount | On a $300,000 Purchase |
|---|---|---|
| Loan origination fee | 0.5–1% of loan amount | $1,500–$3,000 |
| Appraisal | $400–$700 flat | $400–$700 |
| Lender’s title insurance | ~0.5–1% of loan amount | $1,500–$3,000 |
| County recording fee | $30–$50 flat | $30–$50 |
| Total estimated buyer costs | 2–3% of purchase price | $6,000–$9,000 |
Missouri has no state real estate transfer tax. Missouri Constitution Article X, Section 25 (adopted 2010) prohibits the state, counties, and municipalities from imposing any new tax on the sale or transfer of real estate. Buyers only pay a small county recording fee, not a percentage-based deed transfer tax.
Missouri Housing Market Overview (2026)
Missouri’s housing market is anchored by its two major metros — Kansas City and St. Louis — along with growing secondary markets in Springfield and Columbia, and a large rural population outside those metro areas. Missouri home values remain well below the national median, making it one of the more affordable states in the country.
| Area | Market Notes |
|---|---|
| Kansas City | Median home value around $255,600–$293,300; up modestly year-over-year; largest metro in the state |
| St. Louis City | Median sale price around $261,000; steady, low year-over-year growth |
| Springfield | Median sale price around $220,000–$247,000; one of the more affordable metros in the state |
| Columbia | Median sale price around $303,000–$350,000 depending on source; strong year-over-year appreciation, driven by university and healthcare employment |
| Statewide | Median sale price around $299,000; up about 3% year-over-year |
