Best Mortgage Lenders in Kansas

Are you in the market for a new home in Kansas and need a mortgage? Finding the right lender can make all the difference in securing the best terms and rates for your home loan. With so many options available, it can be overwhelming to know where to start.

Securing a mortgage is a major financial decision, and choosing the right lender is crucial. The mortgage industry in Kansas is highly competitive, with numerous lenders offering a variety of loan options. To help you navigate through the sea of choices, Benzinga has compiled a list of the best mortgage lenders in Kansas.

When it comes to securing a mortgage, it's important to work with a reputable lender who understands your needs and can provide you with the best financing options. Whether you're a first-time homebuyer or looking to refinance, finding the right lender can save you time, money, and stress. In this article, we will highlight the top mortgage lenders in Kansas who have a proven track record of excellent customer service and competitive rates.

The 6 Best Mortgage Companies in Kansas

So you’re ready to buy your home, but where do you begin? The right mortgage lender can help you find the right mortgage program, determine what you can afford and so much more. Here are a few of the best mortgage companies you’ll find in Kansas.

1. Best for Bank Statement Loans: Angel Oak Mortgage Solutions

Angel Oak Mortgage Solutions is a full-service mortgage lender offering traditional and portfolio mortgage loans. Among their many customized loan solutions is their Bank Statement product for self-employed borrowers across Kansas. This loan does not require tax returns and includes a 1099 Income option for 1099 earners. 

• Loan amounts up to $3 million
• 12 or 24 months personal or business bank statements
• Two years out of bankruptcy, short sale, foreclosure, or deed-in-lieu
• Owner occupied, non-owner occupied, second homes that are physically located in Kansas
• 1099 option available
• 40 year fixed interest only
• Delayed financing available
• Non-warrantable condos allowed

Angel Oak Mortgage Solutions offers a wide range of loan options allowing you to obtain any mortgage as long as qualification requirements are met. Kansas residents can also refinance into any of these loans. The customer service team is easy to reach via email, phone or the online contact form, and you can begin your journey by searching for a local advisor right on the website.

Angel Oak is headquartered in Atlanta, Georgia and is licensed in AL, AZ #0927070, licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act, CO, CT, DE, DC, FL, GA #32379, ID, IL, IN, IA, KS, KY, LA, ME, MD, MI, MN, MS, NV, NH, licensed by the N.J. Department of Banking and Insurance, NM, NC, OH, OK, OR, PA, Rhode Island Licensed Lender, SC, TN, TX, UT, VT, VA, WA dba AOHL LLC, WI.

Quicken Loans offers a quick and easy online mortgage process that can help almost any borrower. You’ll automatically be able to start your process, whether you’re looking to purchase or refinance a home. Beyond this, the Quicken Loans website is a great resource for any home buyer. It offers an easy way to compare your loan options, so you can be sure you apply for the right mortgage for your needs. 

It also offers a quick mortgage calculator that can help you understand your estimated monthly payments. Quicken Loans offers a number of customer service support options with dedicated specialists ready to answer your questions, process your payments and more.

3. Best for First-Time Home Buyers: Wells Fargo

For many first-time home buyers, it can be difficult to cut through the noise and find the right resources. You’ll want to find an experienced lender who can give you exactly what you need. Luckily, Wells Fargo is a lender that is familiar and accessible for many buyers. 

Wells Fargo created its yourFirst Mortgage loan program to help low-to-moderate income borrowers find an affordable way to buy a home. The program offers low down payment options and helps with expensive closing costs. If you ever need help as you navigate the loan process, you can reach Wells Fargo’s customer service team by phone, online or in-person at a Wells Fargo branch location.

4. Best for Self Employed Professionals: Better.com

The mortgage process can be especially confusing if you’re self-employed. As a self-employed professional, you’ll be asked to provide a different set of documents to show proof of income. The key to navigating this successfully is to find the right mortgage lender.

Better is an online lender committed to helping you find the right mortgage, no matter what your situation. As a self-employed borrower, you can expect Better to be completely transparent about what the documents it needs from you. You’ll also be able to complete your entire mortgage process online with this lender.

5. Best for FHA Loans in Kansas: Freedom Mortgage

If you’re looking into an FHA loan, Freedom Mortgage is a great lender to consider. This lender offers loan officers who can help you find homebuyer programs you qualify for. Your loan officer will be able to give you a personalized offer and help you navigate the mortgage process.

You’ll also benefit from Freedom Mortgage’s Purchase Promise. This lender offers a low-rate guarantee, an on-time closing guarantee, concierge service and purchasing savings perks. Freedom Mortgage will also contact you after you close your loan to let you know if there may be an opportunity to lower your monthly payment. 

6. Best for VA Loans: Veterans United

If you are interested in a VA loan, you’ll want to work with a lender who specializes in helping qualified service members and veterans. Veterans United even has staff members who’ve served in all branches of the military. Better yet, this lender offers customer service support 24/7.

Veterans United can help you through the mortgage process from start to finish. You can use its website to determine whether you’re eligible for a VA home loan before you start the mortgage process. You can also use its resources to determine how much home you can afford, what the current VA loan rates are and more.

Mortgages Explained

Mortgages aren’t a one-size-fits-all product. In fact, there are a number of mortgage options to choose from. To start, you’ll choose your mortgage type. Your mortgage type is the mortgage program that you use, which can range from conventional options to government-backed mortgage programs. 

Each mortgage type carries a term. Your mortgage term is the length of time you’ll be making mortgage payments before you’ve paid off your mortgage.

Mortgage Types

You can find 3 common mortgage types: 

• Conventional loans simply mean that this loan is not part of a specific government program. There are 2 main categories of conventional loans — conforming and nonconforming loans. Conforming loans have maximum loan amounts set by the government, whereas nonconforming loans are less standardized.  
• FHA loans are regulated and insured by the Federal Housing Administration. These loans are offered through private lenders, and the money for your loan comes from the private lender. FHA loans allow for down payments as low as 3.5% and accept lower credit scores than most conventional loans. FHA loans have maximum loan limits that vary by county.
• VA loans are loan programs offered by the Department of Veterans Affairs (VA). The VA has a set of service requirements that you must meet to qualify for a VA loan. It also arranges the terms for the mortgages and guarantees any VA loans. Some VA loans do not require a down payment, so you may be able to finance 100% of your home’s purchase price if you qualify. 

Mortgage Terms

You’ll also be able to hone in on 3 common mortgage terms: 

• 30-year fixed: A fixed-rate loan means that your interest rate will remain the same for the lifetime of your loan. You’ll also benefit from monthly payment amounts that do not change since your interest rate stays the same. Thirty-year fixed-rate loans mean you’ll make the same payment for 30 years.
• 15-year fixed: A 15-year fixed-rate loan is similar to a 30-year fixed-rate loan. Your monthly payments and interest rate will remain the same for the lifetime of your loan. If you choose this repayment term, you’ll pay your mortgage back over a span of 15 years.
• 5/1 ARM: The interest rate for a 5/1 ARM will be fixed for the first 5 years of your mortgage. After the first 5 years, your interest rate may adjust annually until your loan is paid off.

Which Mortgage Lender is Best for You?

When you decide to buy a home, you’ll need to compare lenders. Here are a few things to consider when choosing your lender:

• Transparency: Home loans usually come with plenty of fees. It’s important that your lender is willing to answer questions about what fees it charges, such as origination and underwriting fees.
• Programs: Some lenders offer special programs to its borrowers. Consider the programs that each lender can offer you to determine which can give you the best deal. 

Lender Credit Score Minimums in Kansas

Lenders use credit scores to predict how likely you are to pay back your loan on time. Your credit score is created using the information that is in your credit report. Some of the factors that make up your credit score include the number of loans you have, your current unpaid debt, how much credit you have available and your bill-paying history.  

Current Mortgage Rates in Kansas

Mortgage rates are based on a number of factors. First, mortgage rates will be based on the current market. From there, the mortgage rate a lender offers you will depend on factors such as your credit score, loan type and your down payment. Benzinga can’t predict your specific mortgage rate, we do constantly monitor the market. Our mortgage rate tables are updated frequently to reflect the most recent data.

Average Days to Close on a Loan

Closing on your home is the last step in the buying process. Here are a few things you can expect to show proof of before and during the closing process:

• Documents: There’s a lot of paperwork involved in the closing process. 
• Payments: You’ll also be making plenty of payments during this period. This includes your down payment and any closing costs. 
• Proof of insurance: Your lender will require proof of homeowners insurance before it will fund your mortgage loan. 

Next Steps to Owning a Home in Kansas

Finding the right lender is crucial to finding the right mortgage in Kansas. 

Take a close look at your finances to get an idea of what you can afford. You can also start thinking about mortgage programs you might be interested in. Then, reach out to a few lenders to see what types of mortgages it can offer you.

Frequently Asked Questions