Guide to refinancing in Missouri. Current rates, state programs, costs, and lender options for Missouri homeowners.
Missouri offers affordable housing and low refinancing costs. From Kansas City to St. Louis and Springfield, here's what you need to know about refinancing in the Show-Me State.
As of March 2026:
| Loan Type | Average Rate | |-----------|--------------| | 30-Year Fixed | 6.22% | | 15-Year Fixed | 5.54% | | FHA 30-Year | 6.17% | | VA 30-Year | 5.50% |
Use our refinance calculator.
MHDC programs:
Mortgage Credit Certificate: MCCs provide up to $2,000 annual tax credits.
Much of Missouri qualifies for USDA loans outside Kansas City, St. Louis, Springfield, and Columbia.
Missouri has Whiteman Air Force Base and Fort Leonard Wood. VA IRRRL available.
Low costs:
| Cost Item | Typical Amount | |-----------|---------------| | Lender origination fee | $0 - $2,000 | | Appraisal | $400 - $550 | | Title insurance | $600 - $1,000 | | Recording fees | $30 - $60 | | Total typical closing costs | $3,000 - $5,500 |
Missouri has no state mortgage tax on refinances.
Use our break-even calculator.
Refinance if rates dropped 0.75%+, you want to eliminate PMI, or consolidate debt. See our cash-out guide.
Conventional, FHA Streamline, VA IRRRL, USDA Streamlined, Cash-Out all available.
1. How long does refinancing take? 30-40 days.
2. Will property taxes change? No.
3. Can I refinance rural property? Yes. USDA common in Missouri.
4. What credit score needed? 580 FHA, 620 conventional, 740+ best rates.
5. Can I keep my MHDC MCC? Yes, with participating lender.
Missouri's low costs make refinancing attractive when rates drop 0.75%+.
Get quote: See rates here.
About the Author: Bill McCoy, licensed mortgage broker, 15 years experience.
Licensed mortgage broker with 15+ years of experience helping homeowners save money through refinancing. CA DRE #01212512.