Mortgage rates in Texas
Average 30-year fixed 6.49% · Updated July 9, 2026 · Freddie Mac (FRED)
Texas has no state income tax but among the highest property-tax rates. Below is what buying at Texas's median price looks like at today's national average rate, plus the local property tax and assistance that actually change your payment.
What a mortgage costs in Texas
The interest rate on a Texas mortgage is the same 6.49% national average a lender would quote anywhere — rates are set by the bond market, not by your state. On Texas's median $365,868 home with 20% down, the financed amount is $292,694, or about $1,848 a month in principal and interest.
What makes Texas different is the cost around the loan. Its 1.63% effective property-tax rate adds roughly $497 a month, and homeowners insurance about $137 more — bringing the all-in estimate to $2,482. Those local costs, not the interest rate, are what set Texas apart. Your own price and down payment will move the number — work backward from your income with the affordability check.
Getting approved in Texas
Federal HMDA lending records show Texas lenders originated 526,689 home loans in 2025 and denied 186,511 applications — an approval rate near 73.8% among decisioned applications, against 76.6% nationwide. See how all 50 states compare in our mortgage approval study, and how Texas ranks for CFPB complaint data (28,447 on record).
Shopping for a loan? See the most active mortgage lenders in Texas, ranked by federal HMDA volume.
Down-payment help in Texas
You rarely need 20% down. TDHCA — Texas's housing finance agency — runs the state's main assistance program: My First Texas Home and TSAHC grants provide up to 5% down-payment help. Eligibility usually turns on income limits and a homebuyer-education course. Check current terms at TDHCA, see how a smaller down payment changes your number with the minimum down payment tool, or compare first-time buyer help by state.
Texas mortgage FAQ
What is the current mortgage rate in Texas?
As of July 9, 2026, the U.S. average 30-year fixed rate is 6.49%. The note rate itself is set nationally, not by state — a lender prices your Texas loan the same way it would anywhere, based on your credit, down payment and loan type.
What changes locally is everything around the rate: Texas's ~1.63% effective property tax, insurance costs, and which assistance programs apply.
What is the monthly payment on a typical Texas home?
On Texas's median home price of about $365,868 with 20% down at today's 6.49% average 30-year rate, expect roughly $2,482/month — that's $1,848 principal and interest plus about $497 property tax and $137 insurance. Adjust the numbers for your exact price and down payment in our calculators.
How hard is it to get approved for a mortgage in Texas?
In 2025, Texas lenders originated 526,689 home loans and denied 186,511 applications — an approval rate of about 73.8% among decisioned applications, versus 76.6% nationally, according to federal HMDA data. See how every state ranks in our mortgage approval report.
Rates shown are national weekly averages for general guidance, not an offer or personalized quote. Payment estimates assume the down payment noted plus estimated taxes and insurance. Confirm current pricing with a licensed lender.