Mortgage in Hays, KS (2026)

Find the best mortgage rates in Hays, KS. Whether you are purchasing a starter home or refinancing in Hays, comparing mortgage lenders can save tens of thousands over the loan term.

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Hays Overview

Hays is a key market in Kansas with a population of 20,870 and a median household income of $52,000. The median home price stands at $180,000, shaping the local borrowing landscape.

Rates & Terms

Borrowers in Hays with credit scores above 760 and 20% down payments qualify for the best conventional mortgage rates.

FHA loans in KS typically offer rates 0.25% to 0.50% higher than conventional loans but require only 3.5% down.

Requirements in Hays

FHA loans in KS accept credit scores as low as 580 with 3.5% down, or 500-579 with 10% down.

Jumbo loans in Hays for amounts exceeding conforming limits require credit scores of 700+, larger down payments, and significant cash reserves.

Kansas Regulations

Kansas allows payday lending with regulated maximum amounts and fees.

  • Usury Limit: 15% (non-written), no limit (written)
  • Payday Lending: Legal, max $500, 15% fee

Local Market Insights

Local mortgage brokers in Hays, KS can access wholesale rates from multiple lenders, often beating retail bank offerings.

Hays has seen rising home values over the past year, making it a solid time to buy or refinance.

Borrowing Tips for Hays

  • Lock your mortgage rate once you have a signed purchase agreement; rates can change daily and cost you thousands.
  • Improve your credit score by 20+ points before applying; even small improvements can lower your rate significantly.
  • Get pre-approved, not just pre-qualified; a pre-approval letter strengthens your offer in competitive Hays markets.

Frequently Asked Questions

How much down payment do I need for a house in Hays?

Conventional loans require 3-20% down, FHA loans require 3.5%, and VA loans require 0% down. The median down payment in Hays is approximately 10-15% of the purchase price.

What is the current average mortgage rate in KS?

As of 2026, average 30-year fixed mortgage rates in KS range from 6.5% to 7.5%, while 15-year fixed rates range from 5.75% to 6.75%. Rates vary by lender and borrower profile.

Can I get a mortgage with student loan debt in Hays?

Yes, lenders factor your total debt-to-income ratio. Income-driven repayment plans on federal student loans can help keep your DTI within qualifying limits.

Should I choose a fixed or adjustable-rate mortgage?

Choose a fixed-rate mortgage if you plan to stay in the home long-term and want payment stability. An ARM may save money if you plan to sell or refinance within 5-7 years.

Important Disclaimer

LoanMatchers is not a lender and does not make credit decisions. We connect consumers with licensed lending partners. All loan terms, rates, and fees are determined by the lender and are subject to credit approval. APRs range from 5.99% to 35.99%. Not all applicants will qualify for the lowest rates. This website provides general information and does not constitute financial, legal, or tax advice. Consult a qualified professional before making financial decisions. Rates and terms are accurate as of 2026 but subject to change without notice.