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The Best Rates Among Kansas Mortgage Lenders
Homebuyers looking for a mortgage loan in Kansas should start by checking our table of the most competitive mortgage rates below. These estimates are based on a 30-year fixed rate mortgage for a $200,000 home with a 20% down payment and 740 credit score in Kansas. Click on one of the companies from the table for a low rate or find out our top picks in the state.
As in most other states, the best home loan rates available to those in Kansas were offered by direct and online lenders. These lenders are able to charge such competitive rates because without brick-and-mortar locations, there are fewer overhead costs. Although these rates may be appealing, they don't show the whole picture on the actual costs and the reliability of the lenders, which is why we have evaluated dozens of lenders in Kansas to find the best lenders for different types of borrowers.
Best Mortgage Lender for First Time Homebuyers: Bank of America
Consider this if you'd prefer to use a traditional bank with educational guides for first-time homebuyers.
Bank of America may not be the most affordable lender in the state, but it is a good option for first-time homebuyers due to its relatively low rates, online educational resources and locations in Kansas' biggest cities.
First-Time Purchase Mortgages in Kansas
|Lender||Rate||APR||Monthly Payment||Down Payment|
|Bank of America||4.25%||4.78%||$1,028||5.0%|
Estimates for a $200,000 home purchase with minimum down payment and 740 credit score.
While other large traditional banks have few, if any, branches in Kansas, Bank of America has around 30 branches in the state. Most of those branches are located in Wichita, Overland Park and Kansas City, these areas account for 65% of mortgages originated in Kansas according to S&P market data.
Although Bank of America's branches are concentrated in specific areas of Kansas, the bank is able to provide first-time homebuyers with relatively low interest rates, in-person service in the big cities and online resources for those who can't get to a location easily. If you don't need a mortgage lender with a brick-and-mortar location, we recommend looking at the best online mortgage lender on our list.
Best Online Mortgage Lender: Guaranteed Rate
Consider this if you want to complete your mortgage application and servicing online rather than having to visit a branch.
Finding lenders with exceptional online resources may be very important in your search for a home loan in Kansas, due to the lack of brick-and-mortar mortgage options. Guaranteed Rate offered some of the most competitive mortgage rates with a comprehensive, easily navigable website.
Guaranteed Rate Mortgage Loans
|Loan Type||Rate||APR||Monthly P+I|
|30-Year VA Loan||4.25%||4.64%||$787|
Estimates for a $200,000 mortgage with 20% down payment and 740 credit score. The APR and monthly costs for adjustable-rate mortgages (ARMs) can increase based on changes in the index rate.
Guaranteed Rate offers several types of loans to cater to most borrowers, including fixed rate, ARM, VA, FHA and jumbo loans. It's a great choice among online lenders because the company emphasizes transparency and efficiency in addition to providing competitive rates. Guaranteed Rate has great customer satisfaction reviews, although we did find some negative reviews that referred to a lengthy closing process.
Other online lenders we evaluated had higher mortgage rates in Kansas compared with Guaranteed Rate. Despite that, we recommend seeing what you qualify for from other popular online lenders such as Quicken Loans or J.G. Wentworth because your rates will be different based on your personal information and preferences as a borrower.
Best Lender for In-Person Service in Kansas: Landmark National Bank
Consider this if you want a regional lender with branches in various communities throughout Kansas.
Most banks in Kansas don't have branches that cover the whole state. Instead, there are several smaller lenders that serve certain areas. However, with 29 branch locations in the state, Landmark National Bank provides mortgage servicing to 23 communities spread throughout Kansas.
Mortgage Products at Landmark National Bank
|Loan Type||Rate||APR||Monthly Payment|
|30-Year Fixed Rate||4.63%||4.67%||$1,028|
|15-Year Fixed Rate||4.13%||4.19%||$1,492|
|30-Year Fixed VA Loan||4.38%||4.71%||$999|
Estimates for a $200,000 home purchase with 20% down payment and 740 credit score.
Landmark National Bank only has locations in Kansas, which indicates that it has experience with the needs of Kansans. The bank offers multiple loan products including fixed rate, FHA, VA and USDA loans with competitive rates. Landmark National allows potential homeowners to apply online or in-person, and it offers an online learning center to explain its loan products and mortgage process. Additionally, the company partners with the Federal Home Loan Bank Housing Assistance Program to help first-time homebuyers that may need assistance in getting a mortgage.
Best Lender for a VA Home Loan: Navy Federal
Consider this if you qualify for a VA loan and want a lender with experience in helping veterans and other servicemembers.
Compared with the other lenders that offer VA loans, Navy Federal has the lowest rates among VA loan lenders. Combined with its expertise in veteran home loans, these low rates made Navy Federal our top choice for best lender for VA home loans in Kansas.
Best VA Lenders in Kansas
|Lender||Rate||APR||Monthly P+I||Estimated Fees and Points|
|Wells Fargo||4.63%||4.94%||$1,062||$10,719 (includes closing costs)|
Fixed-rate estimates for a 30-year VA loan of $200,000 with 0% down payment, 2.15% to 3.30% VA funding fee and credit score of 740.
Navy Federal has multiple educational tools for borrowers, in addition to a whole real estate network specialized in finding homes for veterans. You may even qualify for $5,500 in cash back rewards, depending on the cost of your home. And if you receive a lower mortgage rate from another lender, Navy Federal pledges either to match the rate or deposit $1,000 into your bank account.