Loading
Tap on the profile icon to edit
your financial details.

Texas Mortgage Rates

Your Details Done

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

Overview of Texas Mortgages

Texas mortgage rates tend to be close to the national average, which means your monthly mortgage payments should be relatively reasonable. No Texas counties have conforming loan limits beyond the standard $453,100 limit.

Today's Mortgage Rates in Texas

Product Today Last Week Change
30 year fixed 4.58% 4.75% -0.17
15 year fixed 4.08% 4.08% 0.00
5/1 ARM 4.44% 3.88% +0.56
30 yr fixed mtg refi 4.66% 4.68% -0.02
15 yr fixed mtg refi 4.27% 4.27% 0.00
7/1 ARM refi 4.56% 4.56% 0.00
15 yr jumbo fixed mtg refi 4.32% 4.22% +0.11

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
How helpful was this page in answering your question?
not helpful
very helpful
​If you could change one thing about ​this page what would it be?​
Thank you for your answer! Your feedback is very important to us.
We are working hard to improve our product and could use your help!
We pay $30 for 30 minutes on the phone to hear your thoughts on what we can do better.
Please enter your email if you'd like to be contacted to help.

Please enter your name
Photo Credit: ©iStock.com/SoleilC
Texas Mortgage Rates Quick Facts
  • Median Home Value: $184,700 (Zillow)
  • Loan Funding Rate: 59.3% (CFPB)
  • Average Mortgage Rate: 4.00% (Freddie Mac)
  • Homeownership Rate: 62.1% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,444 (U.S. Census Bureau)

Historical Mortgage Rates in Texas

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.

Texas Historic Mortgage Rates

YearTexas RateU.S. Rate
198214.4814.73
198312.4112.26
198411.9811.99
198511.2011.17
19869.839.79
19879.208.95
19889.488.98
19899.929.81
19909.899.74
19919.179.07
19928.027.83
19937.056.93
19947.557.31
19957.647.69
19967.667.58
19977.577.52
19986.996.97
19997.237.14
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

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. 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$453,100$294,515
Andrews$453,100$294,515
Angelina$453,100$294,515
Aransas$453,100$294,515
Archer$453,100$294,515
Armstrong$453,100$294,515
Atascosa$453,100$359,950
Austin$453,100$331,200
Bailey$453,100$294,515
Bandera$453,100$359,950
Bastrop$453,100$384,100
Baylor$453,100$294,515
Bee$453,100$294,515
Bell$453,100$294,515
Bexar$453,100$359,950
Blanco$453,100$294,515
Borden$453,100$294,515
Bosque$453,100$294,515
Bowie$453,100$294,515
Brazoria$453,100$331,200
Brazos$453,100$294,515
Brewster$453,100$294,515
Briscoe$453,100$294,515
Brooks$453,100$294,515
Brown$453,100$294,515
Burleson$453,100$294,515
Burnet$453,100$294,515
Caldwell$453,100$384,100
Calhoun$453,100$294,515
Callahan$453,100$294,515
Cameron$453,100$294,515
Camp$453,100$294,515
Carson$453,100$294,515
Cass$453,100$294,515
Castro$453,100$294,515
Chambers$453,100$331,200
Cherokee$453,100$294,515
Childress$453,100$294,515
Clay$453,100$294,515
Cochran$453,100$294,515
Coke$453,100$294,515
Coleman$453,100$294,515
Collin$453,100$386,400
Collingsworth$453,100$294,515
Colorado$453,100$294,515
Comal$453,100$359,950
Comanche$453,100$294,515
Concho$453,100$294,515
Cooke$453,100$294,515
Coryell$453,100$294,515
Cottle$453,100$294,515
Crane$453,100$294,515
Crockett$453,100$294,515
Crosby$453,100$294,515
Culberson$453,100$294,515
Dallam$453,100$294,515
Dallas$453,100$386,400
Dawson$453,100$294,515
Deaf Smith$453,100$294,515
Delta$453,100$294,515
Denton$453,100$386,400
De Witt$453,100$294,515
Dickens$453,100$294,515
Dimmit$453,100$294,515
Donley$453,100$294,515
Duval$453,100$294,515
Eastland$453,100$294,515
Ector$453,100$294,515
Edwards$453,100$294,515
Ellis$453,100$386,400
El Paso$453,100$294,515
Erath$453,100$294,515
Falls$453,100$294,515
Fannin$453,100$294,515
Fayette$453,100$294,515
Fisher$453,100$294,515
Floyd$453,100$294,515
Foard$453,100$294,515
Fort Bend$453,100$331,200
Franklin$453,100$294,515
Freestone$453,100$294,515
Frio$453,100$294,515
Gaines$453,100$294,515
Galveston$453,100$331,200
Garza$453,100$294,515
Gillespie$453,100$294,515
Glasscock$453,100$294,515
Goliad$453,100$294,515
Gonzales$453,100$294,515
Gray$453,100$294,515
Grayson$453,100$294,515
Gregg$453,100$294,515
Grimes$453,100$294,515
Guadalupe$453,100$359,950
Hale$453,100$294,515
Hall$453,100$294,515
Hamilton$453,100$294,515
Hansford$453,100$294,515
Hardeman$453,100$294,515
Hardin$453,100$294,515
Harris$453,100$331,200
Harrison$453,100$294,515
Hartley$453,100$294,515
Haskell$453,100$294,515
Hays$453,100$384,100
Hemphill$453,100$294,515
Henderson$453,100$294,515
Hidalgo$453,100$294,515
Hill$453,100$294,515
Hockley$453,100$294,515
Hood$453,100$386,400
Hopkins$453,100$294,515
Houston$453,100$294,515
Howard$453,100$294,515
Hudspeth$453,100$294,515
Hunt$453,100$386,400
Hutchinson$453,100$294,515
Irion$453,100$294,515
Jack$453,100$294,515
Jackson$453,100$294,515
Jasper$453,100$294,515
Jeff Davis$453,100$294,515
Jefferson$453,100$294,515
Jim Hogg$453,100$294,515
Jim Wells$453,100$294,515
Johnson$453,100$386,400
Jones$453,100$294,515
Karnes$453,100$294,515
Kaufman$453,100$386,400
Kendall$453,100$359,950
Kenedy$453,100$294,515
Kent$453,100$294,515
Kerr$453,100$294,515
Kimble$453,100$294,515
King$453,100$294,515
Kinney$453,100$294,515
Kleberg$453,100$294,515
Knox$453,100$294,515
Lamar$453,100$294,515
Lamb$453,100$294,515
Lampasas$453,100$294,515
La Salle$453,100$294,515
Lavaca$453,100$294,515
Lee$453,100$294,515
Leon$453,100$294,515
Liberty$453,100$331,200
Limestone$453,100$294,515
Lipscomb$453,100$294,515
Live Oak$453,100$294,515
Llano$453,100$294,515
Loving$453,100$294,515
Lubbock$453,100$294,515
Lynn$453,100$294,515
Mcculloch$453,100$294,515
Mclennan$453,100$294,515
Mcmullen$453,100$294,515
Madison$453,100$294,515
Marion$453,100$294,515
Martin$453,100$294,515
Mason$453,100$294,515
Matagorda$453,100$294,515
Maverick$453,100$294,515
Medina$453,100$359,950
Menard$453,100$294,515
Midland$453,100$294,515
Milam$453,100$294,515
Mills$453,100$294,515
Mitchell$453,100$294,515
Montague$453,100$294,515
Montgomery$453,100$331,200
Moore$453,100$294,515
Morris$453,100$294,515
Motley$453,100$294,515
Nacogdoches$453,100$294,515
Navarro$453,100$294,515
Newton$453,100$294,515
Nolan$453,100$294,515
Nueces$453,100$294,515
Ochiltree$453,100$294,515
Oldham$453,100$294,515
Orange$453,100$294,515
Palo Pinto$453,100$294,515
Panola$453,100$294,515
Parker$453,100$386,400
Parmer$453,100$294,515
Pecos$453,100$294,515
Polk$453,100$294,515
Potter$453,100$294,515
Presidio$453,100$294,515
Rains$453,100$294,515
Randall$453,100$294,515
Reagan$453,100$294,515
Real$453,100$294,515
Red River$453,100$294,515
Reeves$453,100$294,515
Refugio$453,100$294,515
Roberts$453,100$294,515
Robertson$453,100$294,515
Rockwall$453,100$386,400
Runnels$453,100$294,515
Rusk$453,100$294,515
Sabine$453,100$294,515
San Augustine$453,100$294,515
San Jacinto$453,100$294,515
San Patricio$453,100$294,515
San Saba$453,100$294,515
Schleicher$453,100$294,515
Scurry$453,100$294,515
Shackelford$453,100$294,515
Shelby$453,100$294,515
Sherman$453,100$294,515
Smith$453,100$294,515
Somervell$453,100$386,400
Starr$453,100$294,515
Stephens$453,100$294,515
Sterling$453,100$294,515
Stonewall$453,100$294,515
Sutton$453,100$294,515
Swisher$453,100$294,515
Tarrant$453,100$294,515
Taylor$453,100$294,515
Terrell$453,100$294,515
Terry$453,100$294,515
Throckmorton$453,100$294,515
Titus$453,100$294,515
Tom Green$453,100$294,515
Travis$453,100$384,100
Trinity$453,100$294,515
Tyler$453,100$294,515
Upshur$453,100$294,515
Upton$453,100$294,515
Uvalde$453,100$294,515
Val Verde$453,100$294,515
Van Zandt$453,100$294,515
Victoria$453,100$294,515
Walker$453,100$294,515
Waller$453,100$331,200
Ward$453,100$294,515
Washington$453,100$294,515
Webb$453,100$294,515
Wharton$453,100$294,515
Wheeler$453,100$294,515
Wichita$453,100$294,515
Wilbarger$453,100$294,515
Willacy$453,100$294,515
Williamson$453,100$384,100
Wilson$453,100$359,950
Winkler$453,100$294,515
Wise$453,100$386,400
Wood$453,100$294,515
Yoakum$453,100$294,515
Young$453,100$294,515
Zapata$453,100$294,515
Zavala$453,100$294,515

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 mortgage rate for fixed-rate 30-year mortgages is 4.6%.

Texas Jumbo Loan Rates

In general the conforming limit for mortgages in the U.S. is $453,100. 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 $453,100 for a single-family home.

The average Texas jumbo loan rate is 4.2%.

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 an ARM in Texas is 4.4%.

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

Resource Problem or Issue Who Qualifies Website
Texas Department of Housing and Community Affairs - My First Texas Home Program Down 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. http://www.tdhca.state.tx.us/homeownership/fthb/down-payment-assistance.htm
Texas Department of Housing and Community Affairs - Mortgage Credit Certificate The 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. https://www.tdhca.state.tx.us/homeownership/fthb/mort_cred_certificate.htm
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. https://www.hudexchange.info/programs/housing-counseling/

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 1.94%, the fourth-highest rate in the country. Texas does not have real estate transfer taxes – 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 the federal government. You can apply to refinance through a program like HARP, the Home Affordable Refinance Program. HARP offers refinance assistance to homeowners with little or no home equity, or who owe more money than their home is worth – in other words, people who have a hard time getting a traditional lender to help them with a refinance.

See Mortgage Rates in These Other States

Best Places To Get A Mortgage

SmartAsset’s interactive mortgage map highlights the best counties in the country (and in each state) for securing a mortgage. Hover over counties and states to see data points for each region, or use the map’s tabs to view the top counties for each of the factors driving our analysis.

Worst
Better
Rank County Loan Funding Rate 5 Year Borrowing Costs Property Tax Annual Mortgage Payment

Methodology For many people buying a house means securing a mortgage. To determine the best places in the country to get a mortgage we looked at four factors: overall borrowing costs, ease of securing a mortgage, cheap property taxes and cheap annual mortgage payments.

To calculate the overall borrowing costs, we looked at the expected costs over the first five years of a $200,000 mortgage with a 20% down payment, including closing costs. We calculated the ease of getting a mortgage as the ratio of mortgage applications to actual mortgage originations (secured mortgages) in each county. We based annual mortgage payments on the annual principal and interest payments for a $200,000 loan in that location, using average mortgage rates in each county.

Finally, we ranked locations based on these four factors, and then averaged those rankings, giving equal weight to each factor. The areas with the lowest average rankings are the best places to get a mortgage.

Sources: Mortgage Bankers Association, US Census Bureau 2016 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset