Cole County ranked first among Missouri counties for places where homebuyers are most likely to be approved for a mortgage, according to a recent study by financial technology company SmartAsset.
The rankings were part of SmartAsset's study on the best mortgage markets in the United States. The study considered four factors: overall borrowing costs, ease of securing a mortgage, cheap property taxes and cheap annual mortgage payments.
Cole County had a loan funding rate of 73.13 percent, with average five-year borrowing costs of $64,862, average property tax of $11,530 and average annual mortgage payment of $12,250.
Nationwide averages were a loan funding rate of 58.69 percent, average five-year borrowing costs of $65,782, average property tax of $13,121 and average annual mortgage payment of $12,219.
The rankings of Missouri's top 10 counties where homebuyers are most likely to be approved for a mortgage are as follows:
- Cole County: 73.13 percent loan funding rate, $64,862 five-year borrowing costs, $11,530 property tax, $12,250 annual mortgage payment
- Boone County: 71.94 percent loan funding rate, $65,104 five-year borrowing costs, $11,761 property tax, $12,298 annual mortgage payment
- Saint Charles County: 70.02 percent loan funding rate, $64,051 five-year borrowing costs, $16,453 property tax, $12,088 annual mortgage payment
- Douglas County: 69.58 percent loan funding rate, $65,012 five-year borrowing costs, $6,095 property tax, $12,280 annual mortgage payment
- Greene County: 69.41 percent loan funding rate, $64,592 five-year borrowing costs, $10,658 property tax, $12,196 annual mortgage payment
- Nodaway County: 69.39 percent loan funding rate, $64,283 five-year borrowing costs, $13,391 property tax, $12,134 annual mortgage payment
- Howard County: 68.92 percent loan funding rate, $64,881 five-year borrowing costs, $11,380 property tax, $12,254 annual mortgage payment
- Cape Girardeau County: 68.78 percent loan funding rate, $65,076 five-year borrowing costs, $9,351 property tax, $12,293 annual mortgage payment
- Platte County: 68.76 percent loan funding rate, $64,606 five-year borrowing costs, $16,732 property tax, $12,199 annual mortgage payment
- Cooper County: 68.67 percent loan funding rate, $65,074 five-year borrowing costs, $10,480 property tax, $12,292 annual mortgage payment.