Missouri Mortgage Rates & MO Homebuyer / Homeowner Resources
If you're looking for a home, we've collected a wealth of information from Missouri government agencies, lenders and community service agencies below that can provide the information you need for selecting a mortgage loan or finding down payment assistance and other programs designed to help you move from renting to owning your own home.
Whether you are getting a St. Louis new home loan, Springfield mortgage refinance or Saint Joseph equity line of credit, our list of Missouri homebuyer and homeowner resources can help.
And if you are looking for the best Missouri mortgage rates, a prequalification letter from a lender, or are looking for refinance quotes, we offer a matching service which allows up to four competing lenders to compete to offer you the lowest rates through the form to the right. Both the FDIC and the US Dept. of Housing & Urban Development (HUD) recommend shopping around to ensure you're getting the best mortgage rates.
It's our service to you, and there's no obligation.
You can also use our loan calculators which include a refinance calculator, a mortgage rate comparison calculator, and an amortization calculator & amortization chart. Now onto the Missouri mortgage information and resources.
Assists for First-time Missouri Homebuyers
For most of us, our home will probably be the largest investment we will make in our lifetimes. Unfortunately it's also one of the most complex, and choosing everything from the right home, the right mortgage, the right neighborhood, down to the right carpeting can make your head swim. A good way to prepare for this is to attend a Missouri Mortgage & Home Buyer education program.
First time home buyer programs are offered through state and local agencies; home buyer assistance may include down payment assistance, tax credit certificates, and home buyer education. Attending an education program before you start looking for a home and mortgage can help Missouri residents learn how to measure affordability and compare loan terms and rates. Mortgage calculator tools like the Affordability Calculator and Mortgage Pre-Qualification calculator at this site are great resources; they help you determine payment amounts and compare mortgage loans.
Mortgage Refinancing Opportunity for Missouri Homeowners
The Missouri Housing and Development Commission offers a refinancing program to help distressed residents refinance to affordable mortgages based on their home's current value. These programs can provide assistance to Missouri homeowners facing foreclosure due to fallen property values and inability to refinance.
Foreclosure Tips for Missouri Residents
Contact your mortgage lender; it can be frustrating to be transferred between offices and departments, but your home is at stake. Make notes and ask to speak with the loss mitigation or foreclosure prevention department. If your lender can't help, contacting a credit counseling agency can help. Beware of unsolicited offers of "foreclosure help." There are plenty of scams that can add to your problems rather than help. State and community housing agencies and local lending programs may provide funds for refinancing or bringing your mortgage payments current through a loan modification or other relief effort.
Foreclosure proceedings in Missouri are completed very quickly--an average of 60 days, but you have up to a year to redeem your property after foreclosure is completed. Redemption means that you can buy your home back from the lender or other successful bidder at the foreclosure sale, but you'll need to pay the full amount in cash. Getting a mortgage loan after a foreclosure is a difficult prospect; the best course is to get help before your mortgage is foreclosed.
The following list of resources can help Missouri residents locate homebuyer programs, find lenders, and get foreclosure help.
