The Best Mortgage Lenders in Lawrence, KS
Compare verified mortgage lenders serving Lawrence, Kansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Lawrence
Featured Mortgage Lenders
NBKC Bank
NBKC Bank
NBKC Bank is a highly-rated mortgage lender known for its competitive rates, efficient online application process, and exceptional customer service. Serving the Lawrence area from its Kansas City headquarters, NBKC offers a wide range of loan products with transparent pricing and has built a strong reputation for reliability and customer satisfaction, making it a top choice for homebuyers in the region.
Loan Types:
Primary Residential Mortgage, Inc.
Primary Residential Mortgage, Inc. (PRMI)
Primary Residential Mortgage, Inc. is a well-established lender with a strong local presence in the Kansas City metropolitan area, including Lawrence. They are praised for their personalized service, expertise in various loan programs, and commitment to guiding clients through the mortgage process. With decades of experience and high customer ratings, PRMI is a trusted option for home financing in the region.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender renowned for its competitive rates, extensive loan options, and outstanding customer support. With a branch in Overland Park serving the Lawrence area, Fairway has a proven track record of helping homebuyers secure financing efficiently and has received numerous industry awards for excellence, making it a premier choice for mortgages in Kansas.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Lawrence, KS
What are the current average mortgage rates in Lawrence, KS, and how do they compare to the national average?
Mortgage rates in Lawrence typically align closely with national averages but can be slightly influenced by local market competition among lenders. As of late 2023, rates for a 30-year fixed mortgage in Lawrence often range between 6.5% and 7.25%, though this fluctuates frequently. It's wise to compare offers from local credit unions like University of Kansas Credit Union alongside national lenders for the best terms.
Are there any first-time homebuyer programs specifically available for Lawrence residents?
Yes, the Kansas Housing Resources Corporation (KHRC) offers statewide programs like First Time Homebuyer Program and Home Buyer Downpayment Assistance, which are accessible to Lawrence buyers. Additionally, the City of Lawrence occasionally partners with local nonprofits like Tenants to Homeowners, which provides affordable homeownership opportunities and down payment assistance targeted to income-eligible residents.
How does the presence of the University of Kansas (KU) impact the Lawrence mortgage and housing market?
KU creates consistent housing demand from faculty, staff, and graduate students, which helps stabilize property values, especially in neighborhoods like Oread and near campus. However, competition for starter homes can be higher during academic hiring seasons. Investors also frequently seek rental properties near campus, which can influence financing options and loan requirements for certain property types.
What should I know about property taxes in Lawrence when calculating my monthly mortgage payment?
Douglas County property taxes in Lawrence are relatively moderate compared to other parts of Kansas, with an average effective rate around 1.25% to 1.4% of assessed value. Your lender will factor these into your escrow payment, and it's important to note that taxes can increase after a home purchase due to reassessment. First-time buyers may qualify for the Kansas Homestead Refund if they meet income requirements.
Are there local lenders in Lawrence that offer special mortgage programs for educators or university employees?
Yes, several Lawrence-based lenders and credit unions offer benefits for KU and public school employees, such as reduced origination fees or dedicated loan programs. University of Kansas Credit Union, for example, provides mortgage options with flexible underwriting for university staff. It’s also worth inquiring about "professional partnership" programs that may offer down payment assistance or closing cost help for local educators.
Why Choose a Mortgage Lender in Lawrence?
Local Market Knowledge
Lenders who understand Lawrence's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Kansas.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Lawrence and get competitive rates on your home loan.