General Questions

What makes Metropolitan Mortgage different from other lenders?

We’re a local Kansas City lender with over 25 years of experience, offering same-day pre-approvals, competitive rates (e.g., 6.625% for a 30-year fixed as of June 2025), and personalized service. Our team is available evenings and weekends, and we support our community through local charities. Learn more on our About page or read tips on our Blog.

How can I contact Metropolitan Mortgage?

Reach us by phone at 913-642-8300, visit our offices in Overland Park, KS, or Kansas City, MO, or submit a form on our Contact Us page.

Do you serve areas outside Kansas City and Overland Park?

Yes, we offer mortgage services across the Kansas City metro area, including Columbia, Grandview, and beyond. See our Locations page or call 913-642-8300.

Loan Programs

What types of loans do you offer?

We provide a variety of loan programs:

• Conventional Loans: Fixed or adjustable rates, as low as 3% down.
• FHA Loans: 3.5% down, ideal for first-time buyers with credit scores as low as 580.
• VA Loans: 0% down for eligible veterans and military members.
• USDA Loans: 0% down for eligible rural and suburban properties.
• Adjustable-Rate Mortgages (ARMs): Lower initial rates (e.g., 6.500% for a 5/1 ARM).

Explore options on our Loan Programs page.

What’s the difference between FHA and Conventional loans?

FHA loans, insured by the Federal Housing Administration, require 3.5% down and suit lower credit scores (580+). Conventional loans, backed by Fannie Mae or Freddie Mac, need 3%+ down and higher credit scores (620+). FHA includes mortgage insurance premiums (MIP); Conventional may require private mortgage insurance (PMI) if down payment is less than 20%. See our Loan Programs page or get in touch.

Am I eligible for a VA loan?

VA loans are for veterans, active-duty service members, certain National Guard/Reserve members, and surviving spouses. You’ll need a Certificate of Eligibility (COE). We can help you obtain it—start your application or call 913-642-8300.

Application Process

How do I get pre-approved for a mortgage?

Submit your financial details (income, assets, credit history) via our Start Your Application page or call 913-642-8300. We offer same-day pre-approvals to set your budget and strengthen your home offer.

What documents do I need to apply for a loan?

You’ll typically need:

• Proof of income (e.g., W-2s, pay stubs, tax returns).
• Bank statements and asset documentation.
• Identification (e.g., driver’s license).
• Credit history (we’ll pull your report with permission).

Begin on our Apply for a Loan page for a checklist.

How long does the loan approval process take?

Pre-approval is same-day; full approval takes 2-4 weeks, depending on documentation, loan type, and appraisal. We prioritize fast closings—call 913-642-8300 for your timeline.

Rates and Costs

What are your current mortgage rates?

As of November 2024, sample rates include:

• 30-Year Fixed: 6.625%
• 15-Year Fixed: 6.125%
• 5/1 ARM: 6.500%

Rates vary by credit score and loan type. Check our Rates page or request a quote.

What are closing costs?

Closing costs range from 2-5% of the loan amount (e.g., $4,000-$10,000 for a $200,000 loan), covering appraisal, title insurance, and taxes. Use our Calculators for an estimate.

Can I refinance my mortgage with Metropolitan Mortgage?

Yes, we offer rate/term and cash-out refinancing to lower payments or access equity. Explore options on our Refinance page or Loan Programs.

First-Time Homebuyers

What should first-time homebuyers know?

Key steps include:

• Check your credit score (580+ for FHA, 620+ for Conventional).
• Get pre-approved to set your budget.
• Explore loans like FHA (3.5% down) or USDA (0% down) on our Loan Programs page.
• Work with a realtor to find a home.
• Close with our support.

Read our Blog or get personalized tips.

What’s the minimum down payment for a mortgage?

Minimum down payments:

• FHA Loans: 3.5% (e.g., $7,000 on a $200,000 home).
• Conventional Loans: 3% (e.g., $6,000 on a $200,000 home).
• VA/USDA Loans: 0% for eligible borrowers.

Use our Calculators or visit Loan Programs.

Do you offer homebuyer education or workshops?

We provide resources via our Blog, consultations, and online educational training. Call 913-642-8300 to learn about workshops.

Refinancing

When should I consider refinancing?

Refinance to:

• Lower your monthly payment.
• Shorten your loan term.
• Access home equity for debt consolidation or renovations.

Visit our Refinance page or use our Calculators.

How long does refinancing take?

Refinancing takes 3-6 weeks, depending on appraisal and documentation. Start on our Apply for Refinancing page or call 913-642-8300.