Springfield MO Mortgage Rates: Feb 2026 Local Strategy & Grants

Q: What are the current mortgage rates in Springfield, MO?

As of January 2026, mortgage rates in Springfield, MO for a standard 30-year fixed loan are averaging approximately 5.990%. Individual rates may vary based on credit score and local programs.

Q: How much are property taxes in Greene County?

Residential property in Springfield is typically assessed at 19% of market value. The effective tax rate in Greene County averages around 1.02% to 1.05%, keeping monthly payments competitive.

Q: Do I need a 20% down payment to buy in Springfield?

No. Local buyers can utilize FHA loans with 3.5% down or USDA loans with 0% down in eligible areas like Willard and Rogersville.

Navigating the Springfield housing market in 2026 requires understanding the “Missouri Tax Signal”—specifically the 19% residential assessment ratio that defines Greene County affordability. Whether you are buying a historic bungalow in Rountree or a new build in Republic, success depends on capturing local benefits like MHDC first-time buyer grants or USDA 0% down financing in the surrounding Ozark communities.

📍 Southwest Missouri Regional Silo

Springfield rates follow statewide trends. View our parent hub for a broader look at missouri mortgage rates (learn more here) or compare to the mortgage rates in Kansas.

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Today’s Springfield Mortgage Rate Snapshot

Live Market Data for

Conventional Rates

TERM	RATE	APR	POINT(S)	Example Payment*
30-Year Fixed	5.625%	5.669	0	360 payments of $1,727 at 5.625%
20-Year Fixed	5.500%	5.559	0	240 payments of $2,064 at 5.500%
15-Year Fixed	5.375%	5.450	0	180 payments of $2,431 at 5.375%
7 Yr ARM	5.625%	6.487	1	Initial: $1,727 (adjusts after 7 years)
5 Yr ARM	5.375%	6.238	1	Initial: $1,680 (adjusts after 5 years)

*Example based on $300,000 loan. Assumptions: FICO 780+, 30% down, $300,000+ loan amount. Learn more about Conventional Loans.

FHA Rates

TERM	RATE	APR	Example Payment*
30-year fixed	5.500%	6.202	360 payments of $1,733 at 5.500%
20-year fixed	5.500%	6.271	240 payments of $2,100 at 5.500%
15-year fixed	5.000%	5.838	180 payments of $2,414 at 5.000%

*Example based on $300,000 loan (includes MIP). Assumptions: FICO 640+, 3.5% down. Learn more about FHA loans.

VA Rates

TERM	RATE	APR	Example Payment*
30-year fixed	5.500%	5.632	360 payments of $1,725 at 5.500%
20-year fixed	5.500%	5.606	240 payments of $2,090 at 5.500%
15-year fixed	5.125%	5.606	180 payments of $2,422 at 5.125%

*Example based on $300,000 loan. VA funding fee may apply. Assumptions: FICO 640+, 0% down (for eligible veterans). Learn more about VA Loans.

USDA Rates

TERM	RATE	APR	POINT(S)	Example Payment*
30-year fixed	5.625%	6.111	0	360 payments of $1,744 at 5.625%

*Example based on $300,000 loan (includes guarantee fee). Assumptions: FICO 640+, 0% down (rural areas only). Learn more about USDA loans.

Jumbo Rates

TERM	RATE	APR	POINT(S)	Example Payment*
30-Year Jumbo	5.875%	5.982	1	360 payments of $5,915 at 5.875% (for $1,000,000 loan)
15-Year Jumbo	5.750%	5.929	1	180 payments of $8,304 at 5.750% (for $1,000,000 loan)
7 Yr ARM	5.500%	5.805	1	Initial: $5,677.89 (adjusts after 7 years)
5 Yr ARM	5.375%	5.679	1	Initial: $5,600 (adjusts after 5 years)

*Rates subject to change. Terms and conditions apply. Assumptions: FICO 680+, 25% down, loans over $832,750. Learn more about Jumbo Loans.

Refinance Rates

TERM	RATE	APR	POINT(S)	Example Payment*
30-Year Fixed	5.990%	6.169	0	360 payments of $1,797 at 5.990%
20-Year Fixed	5.625%	6.743	0	240 payments of $2,082 at 5.625%
15-Year Fixed	5.375%	5.522	0	180 payments of $2,430 at 5.375%
7 Yr ARM	5.875%	6.762	1	Initial: $1,773 (adjusts after 7 years)
5 Yr ARM	5.750%	6.638	1	Initial: $1,749 (adjusts after 5 years)

*Example based on $300,000 loan. Assumptions: FICO 780+, 30% down, $300,000+ loan amount. Learn more about refinancing.

*Rates are based on a 740+ credit score. Individual current mortgage rates in Springfield MO may vary based on loan-to-value (LTV) and debt-to-income (DTI) ratios.

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Springfield Market Intelligence (Feb 2026)

Springfield Market	Median Price (2026)	Assessed Value (19%)	Avg. Effective Tax
Springfield (City)	$218,500	$41,515	1.02%
Nixa / Ozark	$285,000	$54,150	1.05%

Springfield Monthly Payment Estimator

Most national calculators miss local nuances. We’ve pre-set this tool with Greene County’s effective property tax rate (approx. 1.25%) to provide a true Ozarks estimate for your monthly obligation.

Purchase Price $

Mortgage Term

Down Payment ($)

20%

Annual Taxes ($)

1.38%

Interest Rate (%)

5.625%

Mortgage Insurance Rate (%)

Annual Insurance $

Monthly HOA $

Want a Copy of the Results?

$1421

Monthly Payment

Principal & Interest $1421

Monthly Taxes $1421

Monthly HOA $1421

Monthly Insurance $1421

Monthly PMI $0

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Why Interest Rates in Springfield, MO Differ from National Averages

National mortgage rates often reflect “one-size-fits-all” pricing from large, multi-state banks. However, the Springfield, MO market is uniquely competitive due to a high concentration of regional lenders and community-based financial institutions that prioritize local homeownership.

Because local experts understand the specific inventory in Greene County—from historic urban cores like Rountree to developing suburban zones in Nixa and Republic—they can often offer more flexible terms than national aggregators. This high level of regional competition helps drive current mortgage rates in Springfield MO toward more consumer-friendly benchmarks, especially for buyers who leverage Missouri-specific tax assessments and assistance programs.

Missouri Down Payment Assistance (MHDC) for Springfield Buyers

Springfield remains a top-tier market for buyers utilizing Missouri Housing Development Commission (MHDC) programs to lower their initial costs.

First Place Program: Offers lower-than-market interest rates specifically for first-time buyers and qualified Veterans in Greene County.
Next Step: Provides cash assistance for down payments and closing costs, available to both first-time and repeat buyers with flexible income limits.

Our team is a certified MHDC lender, helping Springfield residents enter the market with as little as 3.5% (FHA) or even 0% (USDA/VA) down.

What Your Neighbors Are Saying

“Found an incredible rate for our bungalow in Rountree. Rick’s team handled the MHDC process seamlessly!”
— Sarah J., Springfield MO

“As a veteran, I needed a lender who truly understood VA benefits. We closed on our home in Nixa in record time.”
— Mark T., Nixa MO

Five Star Professional 13-Year Award Winner

Frequently Asked Questions About Springfield Mortgages

What are the current mortgage rates in Springfield, MO?

As of early 2026, springfield mo mortgage rates for a standard 30-year fixed mortgage are averaging approximately 5.875%. Regional lenders often offer rates slightly lower than national averages to remain competitive in the Southwest Missouri market.

How much are property taxes in Greene County?

In Springfield, residential property is assessed at 19% of its market value. The effective tax rate in Greene County typically hovers around 1.02% to 1.05%, which is significantly lower than the national average, making your total monthly mortgage payment more affordable.

Do I need a 20% down payment to buy in Springfield?

No. Many local buyers qualify for FHA loans with as little as 3.5% down. Additionally, the surrounding metro areas like Willard and Rogersville often qualify for USDA loans, which offer 0% down payment options for eligible borrowers.

What credit score do I need for the best interest rates in Springfield, MO?

To secure the absolute best interest rates in Springfield, MO, a credit score of 740 or higher is generally required. However, many local programs can assist buyers with scores as low as 580-620.

Southwest Missouri & Ozarks Mortgage Resource Center

Navigate the 2026 Springfield housing market with our regional benchmarks and buyer tools:

🛡️ Buyer Education

Lock Strategy: Rate Lock Procedures
Product Comparison: Fixed vs. ARM Guide
Credit Scores: Minimum Credit Scores

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