Menu burger Close thin Facebook Twitter Google plus Linked in Reddit Email arrow-right-sm arrow-right
Loading
Tap on the profile icon to edit
your financial details.

Texas Mortgage Rates

Your Details Done

Use SmartAsset's mortgage rate comparison tool to compare mortgage rates from the top lenders and find the one that best suits your needs.

Overview of Texas Mortgages

Texas mortgage rates tend to be close to or below the national average, which means your monthly mortgage payments should be relatively reasonable. No Texas counties have conforming loan limits beyond the standard $647,200 limit.

Today's Mortgage Rates in Texas

Product Today Last Week Change
30 year fixed 6.38% 6.25% +0.13
15 year fixed 5.88% 4.75% +1.13
5/1 ARM 6.75% 6.75% 0.00
30 yr fixed mtg refi 6.00% 6.00% 0.00
15 yr fixed mtg refi 5.75% 5.63% +0.13
7/1 ARM refi 6.63% 6.63% 0.00
15 yr jumbo fixed mtg refi 2.99% 3.05% -0.06

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
Details
Add your details
Purchase or Refinance
Select Purchase or Refinance
Do this later
Dismiss
Add your details
Location
Location
Enter your location Do this later
Dismiss
Add your details
Target Home Price
Target Home Value
Enter target home value
Do this later
Dismiss
Add your details
Down Payment
Down Payment
Enter down payment
$0
Do this later
Dismiss
Add your details
Current Home Value
Current Home Value
Enter current home value
Do this later
Dismiss
Add your details
Current Mortgage Balance
Current Mortgage Balance
Enter current mortgage balance
Do this later
Dismiss
Add your details
Credit Score
Credit Rating
Select Your Credit Rating Do this later
Dismiss
Lender
APR
Payment
No mortgages found. Please change your search criteria and try again.
Searching for Mortgages...
Disclosure
Share Your Feedback
How would you rate your experience using SmartAsset’s financial advisor matching service so far?
What is the most important reason for that score? (optional)
Please limit your response to 150 characters or less.
Thank you for your answer! Your feedback is very important to us.

Historical Mortgage Rates in Texas

Photo Credit: ©iStock.com/SoleilC

Texas Mortgage Rates Quick Facts

  • Median Home Value: $200,400 (U.S. Census Bureau)
  • Loan Funding Rate: 51.32% (CFPB)
  • Homeownership Rate: 66.5% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,606 (U.S. Census Bureau)

Texas, the largest state in the continental U.S., has a sizable mortgage market. Texas mortgage rates are generally a little lower than the average U.S. rate.

A financial advisor in Texas can help you plan for the homebuying process. Financial advisors can also help with investing and financial planning - including tax, retirement and estate planning - to make sure you are preparing for the future.

Texas Historic Mortgage Rates*

YearTexas RateU.S. Rate
20008.037.86
20017.016.94
20026.616.44
20035.815.67
20045.945.68
20055.985.85
20066.716.54
20076.546.42
20086.156.06
20095.045.05
20104.764.81
20114.524.56
20123.593.65
20133.803.84
20144.084.13
20153.793.88
20163.663.73
20173.984.03
20184.574.56

*The FHFA stopped reporting new data in 2018.

Texas Mortgages Overview

Getting a mortgage in Texas is a more consumer-friendly process than in some other states. The state government has put consumer protections in place that help prevent foreclosure. Also, the state did not allow home equity loans until 1997. Even now, the rules that govern Texas mortgages are designed to limit the risk that homeowners can take on.

The biggest example of this special feature of the Texas mortgage market is the fact that in Texas, the total of all mortgage debt on a home can’t legally exceed 80% of the home’s market value. That means that you can’t pile on, say, a second mortgage and a home equity loan and end up owing way more than your home is worth, as residents in some states did before the foreclosure crisis.

So, if you only have 20% equity in your home you won’t be allowed to get a home equity loan at all because the mortgage debt on your home is at that 80% cut-off. You can calculate the home equity loan you can legally have on your home by multiplying the home’s value by 0.8 and then subtracting the amount you still owe on the home. You can’t have more than one home equity loan on a single home and neither can you take out more than one home equity loan in a single year.

Texas law also imposes limits on lenders in the Texas mortgage market. Fees and costs are capped at 3% of the loan principal, for example, and rush loan jobs are forbidden. Even after closing on a mortgage you have three days to change your mind and cancel the transaction without having to pay a penalty for doing so.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Anderson$647,200$420,680
Andrews$647,200$420,680
Angelina$647,200$420,680
Aransas$647,200$420,680
Archer$647,200$420,680
Armstrong$647,200$420,680
Atascosa$647,200$449,650
Austin$647,200$420,680
Bailey$647,200$420,680
Bandera$647,200$449,650
Bastrop$647,200$483,000
Baylor$647,200$420,680
Bee$647,200$420,680
Bell$647,200$420,680
Bexar$647,200$449,650
Blanco$647,200$420,680
Borden$647,200$420,680
Bosque$647,200$420,680
Bowie$647,200$420,680
Brazoria$647,200$420,680
Brazos$647,200$420,680
Brewster$647,200$420,680
Briscoe$647,200$420,680
Brooks$647,200$420,680
Brown$647,200$420,680
Burleson$647,200$420,680
Burnet$647,200$420,680
Caldwell$647,200$483,000
Calhoun$647,200$420,680
Callahan$647,200$420,680
Cameron$647,200$420,680
Camp$647,200$420,680
Carson$647,200$420,680
Cass$647,200$420,680
Castro$647,200$420,680
Chambers$647,200$420,680
Cherokee$647,200$420,680
Childress$647,200$420,680
Clay$647,200$420,680
Cochran$647,200$420,680
Coke$647,200$420,680
Coleman$647,200$420,680
Collin$647,200$450,800
Collingsworth$647,200$420,680
Colorado$647,200$420,680
Comal$647,200$449,650
Comanche$647,200$420,680
Concho$647,200$420,680
Cooke$647,200$420,680
Coryell$647,200$420,680
Cottle$647,200$420,680
Crane$647,200$420,680
Crockett$647,200$420,680
Crosby$647,200$420,680
Culberson$647,200$420,680
Dallam$647,200$420,680
Dallas$647,200$450,800
Dawson$647,200$420,680
Deaf Smith$647,200$420,680
Delta$647,200$420,680
Denton$647,200$450,800
De Witt$647,200$420,680
Dickens$647,200$420,680
Dimmit$647,200$420,680
Donley$647,200$420,680
Duval$647,200$420,680
Eastland$647,200$420,680
Ector$647,200$420,680
Edwards$647,200$420,680
Ellis$647,200$450,800
El Paso$647,200$420,680
Erath$647,200$420,680
Falls$647,200$420,680
Fannin$647,200$420,680
Fayette$647,200$420,680
Fisher$647,200$420,680
Floyd$647,200$420,680
Foard$647,200$420,680
Fort Bend$647,200$420,680
Franklin$647,200$420,680
Freestone$647,200$420,680
Frio$647,200$420,680
Gaines$647,200$420,680
Galveston$647,200$420,680
Garza$647,200$420,680
Gillespie$647,200$420,680
Glasscock$647,200$420,680
Goliad$647,200$420,680
Gonzales$647,200$420,680
Gray$647,200$420,680
Grayson$647,200$420,680
Gregg$647,200$420,680
Grimes$647,200$420,680
Guadalupe$647,200$449,650
Hale$647,200$420,680
Hall$647,200$420,680
Hamilton$647,200$420,680
Hansford$647,200$420,680
Hardeman$647,200$420,680
Hardin$647,200$420,680
Harris$647,200$420,680
Harrison$647,200$420,680
Hartley$647,200$420,680
Haskell$647,200$420,680
Hays$647,200$483,000
Hemphill$647,200$420,680
Henderson$647,200$420,680
Hidalgo$647,200$420,680
Hill$647,200$420,680
Hockley$647,200$420,680
Hood$647,200$420,680
Hopkins$647,200$420,680
Houston$647,200$420,680
Howard$647,200$420,680
Hudspeth$647,200$420,680
Hunt$647,200$450,800
Hutchinson$647,200$420,680
Irion$647,200$420,680
Jack$647,200$420,680
Jackson$647,200$420,680
Jasper$647,200$420,680
Jeff Davis$647,200$420,680
Jefferson$647,200$420,680
Jim Hogg$647,200$420,680
Jim Wells$647,200$420,680
Johnson$647,200$450,800
Jones$647,200$420,680
Karnes$647,200$420,680
Kaufman$647,200$450,800
Kendall$647,200$449,650
Kenedy$647,200$420,680
Kent$647,200$420,680
Kerr$647,200$420,680
Kimble$647,200$420,680
King$647,200$420,680
Kinney$647,200$420,680
Kleberg$647,200$420,680
Knox$647,200$420,680
Lamar$647,200$420,680
Lamb$647,200$420,680
Lampasas$647,200$420,680
La Salle$647,200$420,680
Lavaca$647,200$420,680
Lee$647,200$420,680
Leon$647,200$420,680
Liberty$647,200$420,680
Limestone$647,200$420,680
Lipscomb$647,200$420,680
Live Oak$647,200$420,680
Llano$647,200$420,680
Loving$647,200$420,680
Lubbock$647,200$420,680
Lynn$647,200$420,680
Mcculloch$647,200$420,680
Mclennan$647,200$420,680
Mcmullen$647,200$420,680
Madison$647,200$420,680
Marion$647,200$420,680
Martin$647,200$420,680
Mason$647,200$420,680
Matagorda$647,200$420,680
Maverick$647,200$420,680
Medina$647,200$449,650
Menard$647,200$420,680
Midland$647,200$420,680
Milam$647,200$420,680
Mills$647,200$420,680
Mitchell$647,200$420,680
Montague$647,200$420,680
Montgomery$647,200$420,680
Moore$647,200$420,680
Morris$647,200$420,680
Motley$647,200$420,680
Nacogdoches$647,200$420,680
Navarro$647,200$420,680
Newton$647,200$420,680
Nolan$647,200$420,680
Nueces$647,200$420,680
Ochiltree$647,200$420,680
Oldham$647,200$420,680
Orange$647,200$420,680
Palo Pinto$647,200$420,680
Panola$647,200$420,680
Parker$647,200$450,800
Parmer$647,200$420,680
Pecos$647,200$420,680
Polk$647,200$420,680
Potter$647,200$420,680
Presidio$647,200$420,680
Rains$647,200$420,680
Randall$647,200$420,680
Reagan$647,200$420,680
Real$647,200$420,680
Red River$647,200$420,680
Reeves$647,200$420,680
Refugio$647,200$420,680
Roberts$647,200$420,680
Robertson$647,200$420,680
Rockwall$647,200$450,800
Runnels$647,200$420,680
Rusk$647,200$420,680
Sabine$647,200$420,680
San Augustine$647,200$420,680
San Jacinto$647,200$420,680
San Patricio$647,200$420,680
San Saba$647,200$420,680
Schleicher$647,200$420,680
Scurry$647,200$420,680
Shackelford$647,200$420,680
Shelby$647,200$420,680
Sherman$647,200$420,680
Smith$647,200$420,680
Somervell$647,200$420,680
Starr$647,200$420,680
Stephens$647,200$420,680
Sterling$647,200$420,680
Stonewall$647,200$420,680
Sutton$647,200$420,680
Swisher$647,200$420,680
Tarrant$647,200$450,800
Taylor$647,200$420,680
Terrell$647,200$420,680
Terry$647,200$420,680
Throckmorton$647,200$420,680
Titus$647,200$420,680
Tom Green$647,200$420,680
Travis$647,200$483,000
Trinity$647,200$420,680
Tyler$647,200$420,680
Upshur$647,200$420,680
Upton$647,200$420,680
Uvalde$647,200$420,680
Val Verde$647,200$420,680
Van Zandt$647,200$420,680
Victoria$647,200$420,680
Walker$647,200$420,680
Waller$647,200$420,680
Ward$647,200$420,680
Washington$647,200$420,680
Webb$647,200$420,680
Wharton$647,200$420,680
Wheeler$647,200$420,680
Wichita$647,200$420,680
Wilbarger$647,200$420,680
Willacy$647,200$420,680
Williamson$647,200$483,000
Wilson$647,200$449,650
Winkler$647,200$420,680
Wise$647,200$450,800
Wood$647,200$420,680
Yoakum$647,200$420,680
Young$647,200$420,680
Zapata$647,200$420,680
Zavala$647,200$420,680

Another stand-out feature of the Texas mortgage market is that Texas is a non-recourse state. That means that if you go through foreclosure and you owe your lender more than your home is worth the lender can’t go after you for the “deficiency,” the difference between what you owe the bank and what the bank can now get for your home on the market.

Foreclosures can be either judicial or non-judicial in Texas. If you have a traditional mortgage document your lender will probably have to go through judicial foreclosure to reclaim the home and this can be a lengthy process. You may instead have a deed of trust, which allows the lender to do a “power of sale” foreclosure.

With a “power of sale” clause in your mortgage or deed of trust you’re authorizing the lender to sell the home to recoup money if you default on your mortgage. This sale process, generally done by public auction, goes much more quickly than judicial foreclosure. However, Texas law requires that the bank give borrowers 20 days and plenty of notice to make delinquent payments before foreclosing. You can also bid on your own home during a foreclosure auction in Texas.

30-Year Fixed Mortgage Rates in Texas

Most homeowners in the U.S. opt for a fixed-rate, 30-year mortgage and Texas is no exception. Interest rates on fixed-rate 30-year loans are generally higher than for mortgages with a 15-year term, but 15-year loans often come with monthly payments that are too high for regular borrowers. Why? Because with a 15-year mortgage you have half as much time to pay off the same amount of debt.

The average Texas rate for a fixed 30-year mortgage is 3.35% (Zillow, Jan. 2022).

Texas Jumbo Loan Rates

In general, the conforming limit for mortgages in the U.S. is $647,200. Any loan above that is considered a “non-conforming” or “jumbo loan” and may come with higher interest rates to compensate for the extra risk that the bank is taking on by lending such a large sum of money. Plus, conforming loans can be sold on to Freddie Mac or Fannie Mae but jumbo loans cannot.

In certain high-cost counties in the country there are higher conforming loan limits. Texas, however, has no counties where the conforming loan limit exceeds $647,200 for a single-family home.

The average Texas 30-year fixed-rate jumbo loan rate is 3.20% (Zillow, Jan. 2022).

Texas ARM Loan Rates

An ARM is an adjustable-rate mortgage. Unlike a fixed-rate loan, where the interest rate on your mortgage debt stays the same throughout the life of the loan, adjustable-rate mortgages have interest rates that can adjust.

With an ARM you’ll generally get a low introductory interest rate, lower than the rates you may see for fixed-rate loans. However, after a period of one, three, five, seven or 10 years depending on the terms of your loan, that introductory rate will end and your interest rate will change. It will likely increase, though the size of the increase will be capped in the terms of your loan. Adjustable-rate mortgages are riskier for borrowers, but if you’re confident you can re-sell the home before the low introductory rate ends you may deem an ARM worth it.

The average rate for a 7/1 ARM in Texas is 2.83% (Zillow, Jan. 2022).

Texas Mortgage Resources

The Texas Department of Housing and Community Affairs (TDHCA) offers mortgage help for first-time homebuyers. There are two main programs that the TDHCA offers. The first is called My First Texas Home. Through My First Texas Home, eligible applicants can get 30-year fixed, low-interest-rate mortgages. Up to 5% of the home loan amount will be available to help with a down payment or closing costs.

Available Resources

ResourceProblem or IssueWho Qualifies
Texas Department of Housing and Community Affairs - My First Texas Home ProgramDown payment assistance for first-time homebuyers, closing cost assistance and competitive interest rates are available through the My First Texas Home Program.To qualify, Texans must meet the income and purchase price limits for the area where they intend to purchase a home.
Texas Department of Housing and Community Affairs - Mortgage Credit CertificateThe Texas Mortgage Credit Certificate provides qualified borrowers with up to $2,000 per year in a federal income tax credit based on mortgage interest paid in the tax year.Applicants must be first-time homebuyers and must meet income and purchase price limits.
Department of Housing and Urban Development (HUD)Housing counseling, foreclosure avoidance counseling.Homeowners who are delinquent on mortgage payments are eligible for free housing counseling from HUD-approved counseling agencies in Texas.

The other benefit TDHCA offers is a Mortgage Credit Certificate. With a Texas Mortgage Credit Certificate, qualified borrowers get up to $2,000 per year in a federal income tax credit that’s based on the mortgage interest paid that year. It’s an extra benefit at tax season that complements the Mortgage Interest Tax Deduction. The low-interest mortgage loan from My First Texas Home and Texas Mortgage Credit Certificate can be combined or used separately.

To take advantage of TDHCA’s programs, you must be a first-time homebuyer who hasn’t owned a home as your primary residence in the last three years. You won’t be able to get TDHCA help with an investment property or summer house.

There are also income limits (up to 115% of the area median family income) and limits on the purchase price of qualifying homes (the limit varies by county). Wealthy Texans and those who want to buy mansions should look elsewhere. There are also minimum credit score and maximum debt-to-income ratio requirements to qualify for the home-buying help from TDHCA.

TDHCA doesn’t actually issue you a home mortgage. Instead, they work with participating lenders throughout the state and limit the fees those lenders can charge you. If you qualify and choose to participate you will be required to participate in homebuyer education and you will not be allowed to rent out the home you buy through the program.

If your income is a little higher, don’t assume you don’t qualify. In certain targeted areas that have historically been economically depressed, TDHCA allows a higher income and purchase price limits to entice development. You can check area limits on the table above. The TDHCA website offers links to foreclosure prevention resources through the federal government and groups like the Homeownership Preservation Foundation.

Texas Mortgage Taxes

Qualified applicants can get a Texas Mortgage Credit Certificate that will give them a tax credit when they file their federal income taxes. Remember that a tax credit is a dollar-for-dollar reduction in your tax liability (the amount you owe the government). If you have more money in tax credits than in tax liability your refund will increase by that amount. A tax deduction, by contrast, reduces your taxable income.

Even if you don’t qualify for a Texas Mortgage Credit Certificate, you can still deduct your mortgage interest on your federal income tax return. Texas has no state income tax, so no state-level deduction is necessary.

Though it doesn’t have a state income tax, Texas does have property taxes. In fact, Texas has some of the highest property tax rates in the U.S. The average effective property tax rate in Texas is 1.69%, the seventh-highest rate in the country. Texas does not have real estate transfer taxes, which are taxes imposed on the transfer of the title to real estate property within a given municipality, county or state. That means you won’t owe extra taxes when it comes time to sell your home.

Texas Mortgage Refinance

Ready to refinance your Texas mortgage? If you already receive a Mortgage Credit Certificate for your existing mortgage you can apply to continue receiving that credit after you refinance to a new mortgage. You’ll need to fill out the TDHCA Mortgage Credit Certificate Program’s “Refinance of MCC Loan Application” with details of your refinance such as the balance owed on your original loan and the new loan amount. If your application is approved you will continue to receive the MCC credit at the same rate as your original credit.

Whether or not you qualify for a Texas MCC, you may qualify for refinance help from Fannie Mae. You can apply to refinance through Fannie Mae's High Loan-to-Value Refinance Option. Note that the Home Affordable Refinance Program, or HARP, is no longer in existence.

See Mortgage Rates in These Other States