THE RATE SHOP · KANSAS & MISSOURI
What could your monthly payment look like?
Explore a home price, choose a loan type, and see the costs behind the number.
Take a quick, four-step tour. You can change the numbers as you go.
What goes into estimated APR?
APR combines the interest rate with estimated borrowing costs and applicable mortgage insurance. We assume zero points and regular monthly payments after an estimated prepaid-interest period. Conventional PMI ends at scheduled automatic termination, assuming current payments; FHA insurance follows its applicable duration and declining annual balance. Your actual closing date, fees, insurance and payment schedule can change APR.
CFPB finance-charge rules · CFPB APR method. Your lender’s Loan Estimate provides the transaction-specific APR.
A useful estimate starts with the whole picture.
What’s included?
Your fixed-rate loan payment, an estimate for taxes and homeowners insurance, applicable mortgage insurance, and HOA dues. Down payment and upfront program fees appear separately.
Why might my actual payment differ?
Your credit, property, loan program, points, and rate lock affect your final terms. Insurance quotes and a property's future tax bill may differ from the seller's current costs.
What should I budget for closing?
Your down payment is only one part. Closing fees, prepaid insurance and interest, and initial escrow deposits can add to the amount needed. Mike can build a property-specific estimate with you.
How this estimate works & reliable sources
Principal and interest use a standard fixed-rate amortization formula. Annual taxes and insurance are divided by 12. Conventional PMI uses the Arch borrower-paid monthly rate card effective February 9, 2026: estimated credit score, loan-to-value, fixed-rate term, standard coverage and any two-borrower discount, with a 0.14% minimum annual rate. Assumes DTI under 45%, a primary one-unit non-manufactured home, non-refundable constant renewals and no other adjustments. Monthly PMI equals the annual percentage times the base loan divided by 12, rounded to cents. It is $0 at 20% down. This card is used as a planning benchmark for KS/MO, not a Missouri-approved quote; actual lender pricing may differ. FHA includes a 1.75% upfront premium and first-year monthly mortgage insurance calculated from the scheduled average balance, loan amount, term, and loan-to-value ratio. VA includes an applicable funding fee but no monthly mortgage insurance.
The result is an initial payment estimate, not a lifetime payment projection. FHA insurance may change as the loan balance declines; cancellation rules differ from conventional PMI. This assumes a primary-residence purchase with no subordinate financing and a property value equal to the price. VA eligibility and entitlement, FHA county limits, and conventional loan limits still need review.
Sources: Arch PMI rate card · CFPB payment components · HUD mortgage insurance tables · HUD monthly premium method · VA funding fees & exemptions · Fannie Mae low-down-payment options
PMI methodology reviewed October 7, 2026. Mortgage News Daily averages are editable examples, not The Rate Shop's offered rates or APRs. No rate or approval is guaranteed.