Missouri First-Time Homebuyer Calculator
First-time homebuyer costs in Missouri: $8,225 FHA down payment, $5,875 closing costs, 0.97% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for Missouri. Includes down payment, closing costs (2.5%), PMI (required below 20% down), property tax (0.97%), and homeowners insurance ($2,200/yr). DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
Missouri homebuyer facts: Median price $235,000 | 20% down = $47,000 | FHA 3.5% down = $8,225 | Closing costs ~$5,875 | Property tax 0.97% | No attorney required.
Frequently Asked Questions
How much do I need to buy a house in Missouri?
For Missouri's median home ($235,000): FHA minimum down payment is $8,225 (3.5%), plus $5,875 in closing costs. Total minimum: ~$14,100. With 20% down to avoid PMI: ~$52,875.
What are closing costs in Missouri?
Missouri closing costs average 2.5% of the home price, or about $5,875 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and optional attorney fees. Transfer taxes are 0%.
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