Kansas Mortgage Calculator
Calculate your Kansas mortgage payment with PMI, property tax, and closing costs.
Useful for home buyers in Wichita, Overland Park, Kansas City, Topeka, Lawrence, and all of Kansas.
Useful for home buyers in Wichita, Overland Park, Kansas City, Topeka, Lawrence, and all of Kansas.
Why use a Kansas Mortgage Calculator?
Kansas has moderate home prices but property tax rates that vary significantly by county. This calculator estimates your payment, PMI, property tax, and closing costs.
Kansas has moderate home prices but property tax rates that vary significantly by county. This calculator estimates your payment, PMI, property tax, and closing costs.
Result
Enter your details to see the estimated payment here.
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Kansas Property Tax: The average effective property tax rate is about 1.41%, which is higher than the national average. Kansas offers a homestead program for qualifying residents. Closing costs in KS are typically 2-3% of the purchase price.
Average Home Prices in Major Kansas Cities (2024)
| City | Detached | Semi-Detached | Townhouse | Condo |
|---|---|---|---|---|
| Wichita | $220,000 | $190,000 | $170,000 | $150,000 |
| Overland Park | $450,000 | $380,000 | $330,000 | $280,000 |
| Kansas City | $240,000 | $210,000 | $185,000 | $165,000 |
| Topeka | $175,000 | $155,000 | $140,000 | $125,000 |
| Lawrence | $320,000 | $280,000 | $240,000 | $200,000 |
Note: Prices are approximate averages for 2024 and may vary by neighborhood and property features.
How Mortgage Rules Work in Kansas
- Property Tax: Kansas's average effective property tax rate is about 1.41%, which is higher than the national average. Property taxes are paid annually or semi-annually and may be included in your monthly payment.
- Homestead Program: Kansas offers a homestead program that provides property tax refunds to eligible homeowners, particularly seniors, disabled persons, and low-income households.
- PMI (Private Mortgage Insurance): If your down payment is less than 20%, you must pay PMI, which is added to your monthly payment until you reach 20% equity.
- Closing Costs: Kansas's closing costs include title insurance, recording fees, and other expenses, typically ranging from 2-3% of the purchase price.
Example: On a $250,000 home with 20% down in Wichita, you avoid PMI but would pay property tax at Kansas's relatively high rate. Qualifying homeowners may be eligible for property tax relief through the homestead program. Closing costs are typically 2-3% of the purchase price.
Frequently Asked Questions
In Kansas, property taxes are calculated by multiplying the assessed value of your property by the local mill levy rate. Residential properties are assessed at 11.5% of their fair market value. For example, a $250,000 home would have an assessed value of $28,750 (11.5% of $250,000). This assessed value is then multiplied by the local mill levy rate to determine your property tax.
The Kansas Homestead Refund is a rebate program based on property taxes paid. It's available to Kansas residents who owned and occupied their home for the entire year. Eligibility depends on total household income and certain demographic factors. The program particularly benefits seniors age 55 and older, disabled persons, and families with dependent children under 18.
Closing costs in Kansas are typically 2-3% of the purchase price and include title insurance, recording fees, loan origination fees, appraisal fees, and other expenses. Kansas has moderate closing costs compared to the national average, which helps offset its higher property tax rates.