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When considering a high-value property purchase in Missouri, securing a jumbo loan may be necessary. In all counties in Missouri, the conforming loan limit is $806,500. That means if you need a loan for more than that, you’ll need a jumbo loan.
Our Missouri jumbo loan calculator can help you navigate the financial implications of purchasing an expensive home. By inputting a few key details, the calculator will estimate your monthly payment, total interest paid, and total cost of the loan.
Keep reading to learn more about jumbo loans in Missouri, how jumbo loans differ from conforming loans, and how to use our Missouri jumbo loan calculator.
Key Points
• A Missouri jumbo loan calculator helps estimate monthly mortgage payments, total interest paid, and total cost of the loan.
• To use the calculator, input the purchase price, down payment amount, loan term, interest rate, and property tax rate.
• The conforming loan limit in Missouri is $806,500. If you need a loan larger than this amount, you’ll need a jumbo loan.
• Qualifying for a jumbo loan often requires a higher credit score and significant cash reserves.
• Jumbo loans often require a minimum down payment of 10%. Higher down payments can improve loan terms and reduce monthly payments.
Missouri Jumbo Loan Calculator
Calculator Definitions
• Jumbo loan: A jumbo loan is a mortgage that exceeds the conforming loan limit set by the Federal Housing Finance Agency (FHFA). In Missouri in 2025, the limit is $806,500 for a single-family home.
• Home price: The home price is the agreed-upon purchase price between the buyer and seller. It is crucial for determining the size of your home loan and monthly payments.
• Down payment: The down payment is the initial sum a homebuyer provides upfront, typically expressed as a percentage of the home’s purchase price. For jumbo mortgage loans, a down payment of at least 10% is typically required.
• Loan term: The loan term is the duration over which a borrower repays the mortgage, commonly 15 or 30 years.
• Interest rate: The interest rate is the cost of borrowing money, expressed as a percentage of the loan amount. It can be fixed or variable and impacts monthly payments and total interest costs. Factors influencing the rate include credit history, market trends, and the type of mortgage loan.
• Annual property tax: Annual property tax is levied by local governments on land and buildings, typically as a percentage of the property’s assessed value.
How to Use the Missouri Jumbo Loan Calculator
The Missouri jumbo loan calculator helps estimate monthly payments and total costs. Here’s a step-by-step guide on how to use the calculator.
Step 1: Enter Your Home Price
Type in the agreed-upon home price from your purchase contract.
Step 2: Add a Down Payment Amount
Specify the amount you plan to put down as a down payment. For jumbo loans, a minimum of 10% is typically required, but 20% is recommended to improve loan terms. A down payment calculator can help you decide on your number.
Step 3: Choose a Loan Term
Select a loan term. Common terms are 15 and 30 years, but the calculator allows you to select a term as low as 10 years. A longer term lowers monthly payments but increases total interest paid. A shorter term raises monthly payments but reduces total interest.
Step 4: Enter an Interest Rate
Input your desired interest rate to the second or third decimal point. Fixed-rate mortgages offer stable rates, while adjustable-rate mortgages (ARMs) have rates that can change over time. A lower rate reduces monthly payments and total interest paid.
Step 5: Enter Your Annual Property Tax
Enter your annual property tax rate as a percentage. In Missouri, the average effective property tax rate is 0.91%. This rate is applied to the assessed value of your property to determine your annual tax obligation.
What Are Jumbo Loans and Conforming Loan Limits?
A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In 2025, the conforming loan limit for a single-family home in Missouri is $806,500. Loans above these thresholds are classified as jumbo loans.
When comparing jumbo loans vs. conventional loans, qualifying for a jumbo loan involves meeting stringent criteria, such as a credit score of 700 or higher and cash reserves of up to 12 months. Lenders also require a down payment of 10% to 20%. Despite these requirements, jumbo loans offer competitive interest rates and the financial flexibility needed to finance more expensive properties.
Using a jumbo loan mortgage calculator offers several advantages for prospective homebuyers. First, it provides a clear estimate of your monthly mortgage payments, including principal, interest, and property taxes. This helps prevent financial surprises and ensures you make well-informed decisions.
Second, a jumbo loan calculator allows you to see how small changes in interest rates or loan terms affect your monthly payments and total interest costs. And finally, it shows you how down payments affect your loan, with higher down payments lowering both the loan amount and the monthly payment.
How to Use the Jumbo Loan Calculator to Compare Scenarios
The Missouri jumbo loan calculator allows you to compare different loan scenarios, helping you decide which option is best for you. Here’s how you can use it:
• Adjust the home price to see what you can afford with comfortable monthly payments.
• Alter the down payment to see its impact on your payments.
• Experiment with loan terms to understand how they affect monthly payments and total interest.
• Explore different interest rates to find the best option.
• Understand the impact of property tax rates on your monthly payment.
Current mortgage rates by state.
Compare current home interest rates by state and find a mortgage rate that suits your financial goals.
Select a state to view current rates:
Deciding How Much House You Can Afford in Missouri
To determine how much house you can afford in Missouri, consider median home prices and your financial situation. Lenders suggest that your mortgage should not exceed 28% of your gross monthly income. For example, a $1 million home might require a $250,000 annual income, assuming a 10% down payment and a 30-year mortgage at 6.75%. This results in a monthly payment of approximately $5,837 before taxes and insurance.
Factoring in other debts is also crucial, as lenders advise that total debt payments should stay within 36% of your gross monthly income. In the example above, if your debts exceed about $1,600 a month — think about student loans, credit cards, and car payments — the income needed for a $900,000 mortgage would be higher.
Mortgage preapproval can clarify the maximum mortgage you’ll qualify for, simplifying the homebuying process. Though, only you can say what a comfortable budget is, based on your assets, lifestyle, and financial goals.
The main components of a jumbo loan payment include the principal and interest, which form the core of your monthly mortgage obligation. The principal is the amount borrowed, and the interest is the cost of borrowing that amount.
Other components include property tax — which is included in our calculator — as well as homeowners insurance and homeowners association (HOA) fees. Knowing how these expenses factor in gives you a clearer view of your overall financial commitment and helps you prepare for the true costs of homeownership.
Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.
Cost of Living in Missouri
Missouri’s cost of living impacts home affordability, especially in pricier areas where housing costs are elevated. Luckily, the state’s cost of living index is 89.0, or 11% lower than the national average.
However, it’s important to budget beyond just the mortgage; utilities, maintenance, transportation, and groceries can add up significantly, even in areas like Missouri where the cost of living is relatively low compared to the national average. Here’s how Missouri’s cost of living stacks up in other areas:
• Housing: 78.6 (21.4% lower than the national average)
• Groceries: 96.5
• Utilities: 96.1
• Transportation: 88.4
• Health care: 94.3
• Miscellaneous: 91.8
You can use a home affordability calculator to factor in all your expenses and arrive at a realistic budget for your new home.
Tips on Reducing Your Jumbo Loan Payment
Even if the area of Missouri that you want to live in necessitates a jumbo mortgage, there are strategies to make your mortgage payment more affordable. Here are some tips:
• Consider an adjustable-rate mortgage (ARM) for possibly a lower initial interest rate, which can reduce monthly payments during the introductory period.
• Make a lump sum payment to recast your mortgage, which can lower your monthly payments without extending the loan term or changing the interest rate.
• Modify your loan during financial hardship to change terms and make payments more manageable.
• Refinance your mortgage to a longer term to lower monthly payments, though this will increase total interest paid over the life of the loan.
• Shop for a lower homeowners insurance rate by increasing your deductible or bundling policies.
The Takeaway
Understanding the financial implications of a jumbo loan is crucial for anyone considering a high-value property purchase in Missouri. A jumbo loan mortgage calculator can provide valuable insights into monthly payments, total interest costs accrued over the life of the loan, and the overall cost of the loan.
To use the Missouri jumbo loan calculator, input the home’s purchase price, the down payment amount, the loan term, the interest rate, and the property tax rate. This will help you make a well-informed decision about your financial situation and how much house you can comfortably afford.
When you’re ready to take the next step, consider what SoFi Home Loans have to offer. Jumbo loans are offered with competitive interest rates, no private mortgage insurance, and down payments as low as 10%.
SoFi Mortgages: We make mortgage loan applications smart and simple.
A jumbo loan in Missouri is a mortgage that exceeds the conforming loan limits set by the FHFA. In 2025, the limit is $806,500 for all counties in Missouri.
Do you need 20% for a jumbo loan?
While a 20% down payment is often recommended for a jumbo loan, some lenders may accept a minimum of 10%. A larger down payment can improve loan terms and potentially secure a more favorable interest rate. Lenders typically look for a high credit score and a low debt-to-income ratio to increase your chances of approval.
What credit score is needed for a jumbo loan?
Qualifying for a jumbo loan typically requires a higher credit score, often 700 or above, with some lenders setting the bar at 740 or higher. A strong credit score demonstrates responsible debt management, which is crucial for larger loan amounts. A higher score can lead to more favorable loan terms, such as lower interest rates and better repayment options.
How to get the best rate on a jumbo loan?
To secure the best rate on a jumbo loan, shop around and compare offers from multiple lenders. Factors like credit score, debt-to-income ratio, and down payment size influence the rate. A higher credit score and a lower debt-to-income ratio can improve your chances of getting a competitive rate.
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*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
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