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Texas Mortgage Rates

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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 $726,200 limit.

Today's Mortgage Rates in Texas

Product Today Last Week Change
30 year fixed 5.88% 5.88% 0.00
15 year fixed 5.00% 4.88% +0.13
5/1 ARM 6.25% 6.25% 0.00
30 yr fixed mtg refi 6.38% 6.31% +0.06
15 yr fixed mtg refi 5.50% 5.38% +0.13
7/1 ARM refi 6.75% 6.63% +0.13
15 yr jumbo fixed mtg refi 2.99% 3.05% -0.06

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
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Historical Mortgage Rates in Texas

Photo Credit: ©iStock.com/SoleilC

Texas Mortgage Rates Quick Facts

  • Median Home Value: $237,400 (U.S. Census Bureau)
  • Loan Funding Rate: 51.32% (CFPB)
  • Homeownership Rate: 64.1% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,747 (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$726,200$472,030
Andrews$726,200$472,030
Angelina$726,200$472,030
Aransas$726,200$472,030
Archer$726,200$472,030
Armstrong$726,200$472,030
Atascosa$726,200$524,400
Austin$726,200$472,030
Bailey$726,200$472,030
Bandera$726,200$524,400
Bastrop$726,200$571,550
Baylor$726,200$472,030
Bee$726,200$472,030
Bell$726,200$472,030
Bexar$726,200$524,400
Blanco$726,200$472,030
Borden$726,200$472,030
Bosque$726,200$472,030
Bowie$726,200$472,030
Brazoria$726,200$472,030
Brazos$726,200$472,030
Brewster$726,200$472,030
Briscoe$726,200$472,030
Brooks$726,200$472,030
Brown$726,200$472,030
Burleson$726,200$472,030
Burnet$726,200$472,030
Caldwell$726,200$571,550
Calhoun$726,200$472,030
Callahan$726,200$472,030
Cameron$726,200$472,030
Camp$726,200$472,030
Carson$726,200$472,030
Cass$726,200$472,030
Castro$726,200$472,030
Chambers$726,200$472,030
Cherokee$726,200$472,030
Childress$726,200$472,030
Clay$726,200$472,030
Cochran$726,200$472,030
Coke$726,200$472,030
Coleman$726,200$472,030
Collin$726,200$531,300
Collingsworth$726,200$472,030
Colorado$726,200$472,030
Comal$726,200$524,400
Comanche$726,200$472,030
Concho$726,200$472,030
Cooke$726,200$472,030
Coryell$726,200$472,030
Cottle$726,200$472,030
Crane$726,200$472,030
Crockett$726,200$472,030
Crosby$726,200$472,030
Culberson$726,200$472,030
Dallam$726,200$472,030
Dallas$726,200$531,300
Dawson$726,200$472,030
Deaf Smith$726,200$472,030
Delta$726,200$472,030
Denton$726,200$531,300
De Witt$726,200$472,030
Dickens$726,200$472,030
Dimmit$726,200$472,030
Donley$726,200$472,030
Duval$726,200$472,030
Eastland$726,200$472,030
Ector$726,200$472,030
Edwards$726,200$472,030
Ellis$726,200$531,300
El Paso$726,200$472,030
Erath$726,200$472,030
Falls$726,200$472,030
Fannin$726,200$472,030
Fayette$726,200$472,030
Fisher$726,200$472,030
Floyd$726,200$472,030
Foard$726,200$472,030
Fort Bend$726,200$472,030
Franklin$726,200$472,030
Freestone$726,200$472,030
Frio$726,200$472,030
Gaines$726,200$472,030
Galveston$726,200$472,030
Garza$726,200$472,030
Gillespie$726,200$472,030
Glasscock$726,200$472,030
Goliad$726,200$472,030
Gonzales$726,200$472,030
Gray$726,200$472,030
Grayson$726,200$472,030
Gregg$726,200$472,030
Grimes$726,200$472,030
Guadalupe$726,200$524,400
Hale$726,200$472,030
Hall$726,200$472,030
Hamilton$726,200$472,030
Hansford$726,200$472,030
Hardeman$726,200$472,030
Hardin$726,200$472,030
Harris$726,200$472,030
Harrison$726,200$472,030
Hartley$726,200$472,030
Haskell$726,200$472,030
Hays$726,200$571,550
Hemphill$726,200$472,030
Henderson$726,200$472,030
Hidalgo$726,200$472,030
Hill$726,200$472,030
Hockley$726,200$472,030
Hood$726,200$472,030
Hopkins$726,200$472,030
Houston$726,200$472,030
Howard$726,200$472,030
Hudspeth$726,200$472,030
Hunt$726,200$531,300
Hutchinson$726,200$472,030
Irion$726,200$472,030
Jack$726,200$472,030
Jackson$726,200$472,030
Jasper$726,200$472,030
Jeff Davis$726,200$472,030
Jefferson$726,200$472,030
Jim Hogg$726,200$472,030
Jim Wells$726,200$472,030
Johnson$726,200$531,300
Jones$726,200$472,030
Karnes$726,200$472,030
Kaufman$726,200$531,300
Kendall$726,200$524,400
Kenedy$726,200$472,030
Kent$726,200$472,030
Kerr$726,200$472,030
Kimble$726,200$472,030
King$726,200$472,030
Kinney$726,200$472,030
Kleberg$726,200$472,030
Knox$726,200$472,030
Lamar$726,200$472,030
Lamb$726,200$472,030
Lampasas$726,200$472,030
La Salle$726,200$472,030
Lavaca$726,200$472,030
Lee$726,200$472,030
Leon$726,200$472,030
Liberty$726,200$472,030
Limestone$726,200$472,030
Lipscomb$726,200$472,030
Live Oak$726,200$472,030
Llano$726,200$472,030
Loving$726,200$472,030
Lubbock$726,200$472,030
Lynn$726,200$472,030
Mcculloch$726,200$472,030
Mclennan$726,200$472,030
Mcmullen$726,200$472,030
Madison$726,200$472,030
Marion$726,200$472,030
Martin$726,200$472,030
Mason$726,200$472,030
Matagorda$726,200$472,030
Maverick$726,200$472,030
Medina$726,200$524,400
Menard$726,200$472,030
Midland$726,200$472,030
Milam$726,200$472,030
Mills$726,200$472,030
Mitchell$726,200$472,030
Montague$726,200$472,030
Montgomery$726,200$472,030
Moore$726,200$472,030
Morris$726,200$472,030
Motley$726,200$472,030
Nacogdoches$726,200$472,030
Navarro$726,200$472,030
Newton$726,200$472,030
Nolan$726,200$472,030
Nueces$726,200$472,030
Ochiltree$726,200$472,030
Oldham$726,200$472,030
Orange$726,200$472,030
Palo Pinto$726,200$472,030
Panola$726,200$472,030
Parker$726,200$531,300
Parmer$726,200$472,030
Pecos$726,200$472,030
Polk$726,200$472,030
Potter$726,200$472,030
Presidio$726,200$472,030
Rains$726,200$472,030
Randall$726,200$472,030
Reagan$726,200$472,030
Real$726,200$472,030
Red River$726,200$472,030
Reeves$726,200$472,030
Refugio$726,200$472,030
Roberts$726,200$472,030
Robertson$726,200$472,030
Rockwall$726,200$472,030
Runnels$726,200$472,030
Rusk$726,200$472,030
Sabine$726,200$472,030
San Augustine$726,200$472,030
San Jacinto$726,200$472,030
San Patricio$726,200$472,030
San Saba$726,200$472,030
Schleicher$726,200$472,030
Scurry$726,200$472,030
Shackelford$726,200$472,030
Shelby$726,200$472,030
Sherman$726,200$472,030
Smith$726,200$472,030
Somervell$726,200$472,030
Starr$726,200$472,030
Stephens$726,200$472,030
Sterling$726,200$472,030
Stonewall$726,200$472,030
Sutton$726,200$472,030
Swisher$726,200$472,030
Tarrant$726,200$531,300
Taylor$726,200$472,030
Terrell$726,200$472,030
Terry$726,200$472,030
Throckmorton$726,200$472,030
Titus$726,200$472,030
Tom Green$726,200$472,030
Travis$726,200$571,550
Trinity$726,200$472,030
Tyler$726,200$472,030
Upshur$726,200$472,030
Upton$726,200$472,030
Uvalde$726,200$472,030
Val Verde$726,200$472,030
Van Zandt$726,200$472,030
Victoria$726,200$472,030
Walker$726,200$472,030
Waller$726,200$472,030
Ward$726,200$472,030
Washington$726,200$472,030
Webb$726,200$472,030
Wharton$726,200$472,030
Wheeler$726,200$472,030
Wichita$726,200$472,030
Wilbarger$726,200$472,030
Willacy$726,200$472,030
Williamson$726,200$571,550
Wilson$726,200$524,400
Winkler$726,200$472,030
Wise$726,200$531,300
Wood$726,200$472,030
Yoakum$726,200$472,030
Young$726,200$472,030
Zapata$726,200$472,030
Zavala$726,200$472,030

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 5.96% (Zillow, Jan. 2023).

Texas Jumbo Loan Rates

In general, the conforming limit for mortgages in the U.S. is $726,200. 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 $726,200 for a single-family home.

The average Texas 30-year fixed-rate jumbo loan rate is 5.84% (Zillow, Jan. 2023).

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 5.43% (Zillow, Jan. 2023).

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.

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