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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 $548,250 limit.

Today's Mortgage Rates in Texas

Product Today Last Week Change
30 year fixed 3.04% 3.02% +0.01
15 year fixed 2.38% 2.34% +0.04
5/1 ARM 3.00% 3.00% 0.00
30 yr fixed mtg refi 3.07% 3.06% +0.01
15 yr fixed mtg refi 2.44% 2.38% +0.06
7/1 ARM refi 3.63% 3.63% 0.00
15 yr jumbo fixed mtg refi 3.23% 3.17% +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: $200,400 (U.S. Census Bureau)
  • Loan Funding Rate: 48.18% (CFPB)
  • Homeownership Rate: 62.4% (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$548,250$356,362
Andrews$548,250$356,362
Angelina$548,250$356,362
Aransas$548,250$356,362
Archer$548,250$356,362
Armstrong$548,250$356,362
Atascosa$548,250$403,650
Austin$548,250$356,362
Bailey$548,250$356,362
Bandera$548,250$403,650
Bastrop$548,250$416,300
Baylor$548,250$356,362
Bee$548,250$356,362
Bell$548,250$356,362
Bexar$548,250$403,650
Blanco$548,250$356,362
Borden$548,250$356,362
Bosque$548,250$356,362
Bowie$548,250$356,362
Brazoria$548,250$356,362
Brazos$548,250$356,362
Brewster$548,250$356,362
Briscoe$548,250$356,362
Brooks$548,250$356,362
Brown$548,250$356,362
Burleson$548,250$356,362
Burnet$548,250$356,362
Caldwell$548,250$416,300
Calhoun$548,250$356,362
Callahan$548,250$356,362
Cameron$548,250$356,362
Camp$548,250$356,362
Carson$548,250$356,362
Cass$548,250$356,362
Castro$548,250$356,362
Chambers$548,250$356,362
Cherokee$548,250$356,362
Childress$548,250$356,362
Clay$548,250$356,362
Cochran$548,250$356,362
Coke$548,250$356,362
Coleman$548,250$356,362
Collin$548,250$411,700
Collingsworth$548,250$356,362
Colorado$548,250$356,362
Comal$548,250$403,650
Comanche$548,250$356,362
Concho$548,250$356,362
Cooke$548,250$356,362
Coryell$548,250$356,362
Cottle$548,250$356,362
Crane$548,250$356,362
Crockett$548,250$356,362
Crosby$548,250$356,362
Culberson$548,250$356,362
Dallam$548,250$356,362
Dallas$548,250$411,700
Dawson$548,250$356,362
Deaf Smith$548,250$356,362
Delta$548,250$356,362
Denton$548,250$411,700
De Witt$548,250$356,362
Dickens$548,250$356,362
Dimmit$548,250$356,362
Donley$548,250$356,362
Duval$548,250$356,362
Eastland$548,250$356,362
Ector$548,250$356,362
Edwards$548,250$356,362
Ellis$548,250$411,700
El Paso$548,250$356,362
Erath$548,250$356,362
Falls$548,250$356,362
Fannin$548,250$356,362
Fayette$548,250$356,362
Fisher$548,250$356,362
Floyd$548,250$356,362
Foard$548,250$356,362
Fort Bend$548,250$356,362
Franklin$548,250$356,362
Freestone$548,250$356,362
Frio$548,250$356,362
Gaines$548,250$356,362
Galveston$548,250$356,362
Garza$548,250$356,362
Gillespie$548,250$356,362
Glasscock$548,250$356,362
Goliad$548,250$356,362
Gonzales$548,250$356,362
Gray$548,250$356,362
Grayson$548,250$356,362
Gregg$548,250$356,362
Grimes$548,250$356,362
Guadalupe$548,250$403,650
Hale$548,250$356,362
Hall$548,250$356,362
Hamilton$548,250$356,362
Hansford$548,250$356,362
Hardeman$548,250$356,362
Hardin$548,250$356,362
Harris$548,250$356,362
Harrison$548,250$356,362
Hartley$548,250$356,362
Haskell$548,250$356,362
Hays$548,250$416,300
Hemphill$548,250$356,362
Henderson$548,250$356,362
Hidalgo$548,250$356,362
Hill$548,250$356,362
Hockley$548,250$356,362
Hood$548,250$356,362
Hopkins$548,250$356,362
Houston$548,250$356,362
Howard$548,250$356,362
Hudspeth$548,250$356,362
Hunt$548,250$411,700
Hutchinson$548,250$356,362
Irion$548,250$356,362
Jack$548,250$356,362
Jackson$548,250$356,362
Jasper$548,250$356,362
Jeff Davis$548,250$356,362
Jefferson$548,250$356,362
Jim Hogg$548,250$356,362
Jim Wells$548,250$356,362
Johnson$548,250$411,700
Jones$548,250$356,362
Karnes$548,250$356,362
Kaufman$548,250$411,700
Kendall$548,250$403,650
Kenedy$548,250$356,362
Kent$548,250$356,362
Kerr$548,250$356,362
Kimble$548,250$356,362
King$548,250$356,362
Kinney$548,250$356,362
Kleberg$548,250$356,362
Knox$548,250$356,362
Lamar$548,250$356,362
Lamb$548,250$356,362
Lampasas$548,250$356,362
La Salle$548,250$356,362
Lavaca$548,250$356,362
Lee$548,250$356,362
Leon$548,250$356,362
Liberty$548,250$356,362
Limestone$548,250$356,362
Lipscomb$548,250$356,362
Live Oak$548,250$356,362
Llano$548,250$356,362
Loving$548,250$356,362
Lubbock$548,250$356,362
Lynn$548,250$356,362
Mcculloch$548,250$356,362
Mclennan$548,250$356,362
Mcmullen$548,250$356,362
Madison$548,250$356,362
Marion$548,250$356,362
Martin$548,250$356,362
Mason$548,250$356,362
Matagorda$548,250$356,362
Maverick$548,250$356,362
Medina$548,250$403,650
Menard$548,250$356,362
Midland$548,250$356,362
Milam$548,250$356,362
Mills$548,250$356,362
Mitchell$548,250$356,362
Montague$548,250$356,362
Montgomery$548,250$356,362
Moore$548,250$356,362
Morris$548,250$356,362
Motley$548,250$356,362
Nacogdoches$548,250$356,362
Navarro$548,250$356,362
Newton$548,250$356,362
Nolan$548,250$356,362
Nueces$548,250$356,362
Ochiltree$548,250$356,362
Oldham$548,250$356,362
Orange$548,250$356,362
Palo Pinto$548,250$356,362
Panola$548,250$356,362
Parker$548,250$411,700
Parmer$548,250$356,362
Pecos$548,250$356,362
Polk$548,250$356,362
Potter$548,250$356,362
Presidio$548,250$356,362
Rains$548,250$356,362
Randall$548,250$356,362
Reagan$548,250$356,362
Real$548,250$356,362
Red River$548,250$356,362
Reeves$548,250$356,362
Refugio$548,250$356,362
Roberts$548,250$356,362
Robertson$548,250$356,362
Rockwall$548,250$411,700
Runnels$548,250$356,362
Rusk$548,250$356,362
Sabine$548,250$356,362
San Augustine$548,250$356,362
San Jacinto$548,250$356,362
San Patricio$548,250$356,362
San Saba$548,250$356,362
Schleicher$548,250$356,362
Scurry$548,250$356,362
Shackelford$548,250$356,362
Shelby$548,250$356,362
Sherman$548,250$356,362
Smith$548,250$356,362
Somervell$548,250$356,362
Starr$548,250$356,362
Stephens$548,250$356,362
Sterling$548,250$356,362
Stonewall$548,250$356,362
Sutton$548,250$356,362
Swisher$548,250$356,362
Tarrant$548,250$411,700
Taylor$548,250$356,362
Terrell$548,250$356,362
Terry$548,250$356,362
Throckmorton$548,250$356,362
Titus$548,250$356,362
Tom Green$548,250$356,362
Travis$548,250$416,300
Trinity$548,250$356,362
Tyler$548,250$356,362
Upshur$548,250$356,362
Upton$548,250$356,362
Uvalde$548,250$356,362
Val Verde$548,250$356,362
Van Zandt$548,250$356,362
Victoria$548,250$356,362
Walker$548,250$356,362
Waller$548,250$356,362
Ward$548,250$356,362
Washington$548,250$356,362
Webb$548,250$356,362
Wharton$548,250$356,362
Wheeler$548,250$356,362
Wichita$548,250$356,362
Wilbarger$548,250$356,362
Willacy$548,250$356,362
Williamson$548,250$416,300
Wilson$548,250$403,650
Winkler$548,250$356,362
Wise$548,250$411,700
Wood$548,250$356,362
Yoakum$548,250$356,362
Young$548,250$356,362
Zapata$548,250$356,362
Zavala$548,250$356,362

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 2.66% (Zillow, Jan. 2021).

Texas Jumbo Loan Rates

In general, the conforming limit for mortgages in the U.S. is $548,250. 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 $548,250 for a single-family home.

The average Texas 30-year fixed-rate jumbo loan rate is 2.81% (Zillow, Jan. 2021).

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 3.19% (Zillow, Jan. 2021).

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

Best Places To Get A Mortgage

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

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

Methodology In order to determine the best places in the country to get a mortgage, our study compared four factors, including overall borrowing costs, likelihood of securing a mortgage, property taxes and annual mortgage payments.

To calculate the overall borrowing costs, we analyzed the expected costs throughout the first five years for 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 mortgage originations (secured mortgages) in each county. Annual mortgage payments are a measure of 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, 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 2018 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset