Kansas Mortgage What You Need To Know Before Buying A Home In Kansas

Kansas Mortgage What You Need To Know Before Buying A Home In Kansas



Kansas Mortgage - What you​ Need to​ Know Before Buying a​ Home in​ Kansas
Maybe you’re buying your first home in​ Kansas,​ or​ perhaps you’re relocating to​ Kansas from another state .​
Either way,​ it’s important that you​ educate yourself on​ Kansas home loans before shopping for a​ home and mortgage .​
This article explains what you’ll need to​ know before buying a​ home in​ Kansas:
The price of​ homes in​ Kansas varies widely between zip codes .​
For example,​ in​ Overland Park,​ Kansas,​ the​ median price of​ a​ home in​ the​ summer of​ 2018 was $250,​000; however,​ in​ Johnson County,​ Kansas,​ the​ median price of​ a​ home was $190,​000 .​
The median home cost for the​ entire state of​ Kansas is​ $83,​500 .​
Average interest rates in​ Kansas are just slightly above the​ national average.
The state of​ Kansas has laws that prohibit closed-end second mortgages .​
Additionally,​ Kansas has a​ mortgage tax,​ mortgage transfer tax,​ and property tax .​
The rate of​ job growth in​ Kansas is​ below the​ national average.
If you’re buying a​ home in​ the​ state of​ Kansas,​ you​ qualify for both federal and state FHA and VA loans .​
First-time home buyers qualify for Kansas FHA loans with below-market interest rates,​ and may also qualify for up to​ 4% of​ the​ purchase price in​ down payment assistance .​
Additionally,​ all homeowners qualify for the​ assistance of​ both below-market interest rates and down payment assistance when purchasing a​ home in​ a​ target area.
Kansas’ Fair Housing Act prohibits mortgage lending discrimination against individuals based on​ their race,​ color,​ religion,​ gender,​ familial status,​ or​ national origin.




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