Mortgage rates in Texas
30-yr fixed 7.18% · Freddie Mac PMMS, week of Nov 5, 2026 · APR benchmark 7.19% (APOR for locks from Nov 9, 2026) · Last reviewed Oct 18, 2026 by the Editorial Team
Texas has no state income tax but among the highest property-tax rates.
Mortgage rates today by loan type
These are national averages. Lenders in Texas price off the same national market, so treat them as a benchmark: your quote depends on your credit, down payment, loan size and points. The APR benchmark folds in typical points and fees, so it shows what a prime borrower's APR looks like this week.
| Loan type | Avg rate | APR benchmarkAPOR | Source · as of | What it measures |
|---|---|---|---|---|
| 30-year fixed | 7.18% | 7.19% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 20-year fixed | 6.66% | 6.93% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 15-year fixed | 6.57% | 6.67% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 10-year fixed | 6.31% | 6.82% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 5-year ARM | 6.73% | 6.67% | Zillow (via NerdWallet)Nov 6, 2026 | Fixed for 5 years, then adjusts; APOR = prime ARM benchmark |
| 7-year ARM | — | 6.50% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| 10-year ARM | — | 6.63% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| FHA 30-year | 6.89% | — | Optimal Blue OBMMINov 5, 2026 | Locked FHA loans, all credit profiles; daily |
| VA 30-year | 6.71% | — | Optimal Blue OBMMINov 5, 2026 | Locked VA loans; daily |
| USDA 30-year | 6.86% | — | Optimal Blue OBMMINov 5, 2026 | Locked USDA loans; daily |
| Jumbo 30-year | 7.25% | — | Optimal Blue OBMMINov 5, 2026 | Locked loans above the conforming limit; daily |
APR benchmark = FFIEC/CFPB Average Prime Offer Rate for rate locks in the week starting Nov 9, 2026 (published in advance): a prime borrower's APR including typical points and fees. It is not a quote; your APR depends on credit, down payment and the points you pay. APOR is not published for FHA, VA, USDA or jumbo loans.
Calculate your Texas mortgage payment
The calculator starts from Texas's median list price, 20% down, the state's 1.52% effective property tax, its median insurance premium and its average closing costs. Switch to FHA or VA, change the down payment, or pick your county to set its conforming limit. For the month-by-month split of principal and interest, open the amortization schedule tool. To see how Texas's property tax and insurance compare with every other state, try the PITI and escrow calculator.
Texas vs. the U.S.
Texas's median list price is 16% below the U.S. median, so at the same 7.18% rate the principal and interest on a 20%-down loan runs $352 a month less. Five-year price growth here was the 11th-slowest of 51 jurisdictions.
| Measure | Texas | U.S. |
|---|---|---|
| Median list priceRealtor.com, Oct 2026 | $350,000 | $415,000 |
| Principal + interest, 20% down30-yr avg 7.18% | $1,897 | $2,249 |
| Average home-purchase loanHMDA 2025 | $363,628 | $404,828 |
| Average closing costsincl. transfer taxes | $3,713 | $4,661 |
| Median conventional rate paid2025 purchase loans | 6.50% | 6.50% |
| Mortgage approval rateHMDA 2025 | 73.8% | 76.6% |
| Home values, 1 yearFHFA index, Q2 2026 | +1.6% | +3.0% |
| Home values, 5 yearsFHFA index, Q2 2026 | +34.3% | +41.3% |
What Texas borrowers actually paid in 2025
This is the state-specific part. Federal HMDA records show the rate and costs on every Texas home-purchase loan closed in 2025. We compare like with like: 30-year fixed, first-lien, one-unit primary homes. On conventional loans, Texas borrowers paid 0.04 percentage points below the market benchmark at lock, the 11th-lowest of all 50 states and the District of Columbia.
| 2025 purchase loans | Median rateTX · U.S. | Over benchmarkTX · U.S. | Closing costsTX · U.S. | Paid pointsshare of loans | Median downequity on refis · TX |
|---|---|---|---|---|---|
| Conventional 30-yr fixed (conforming, 20%+ down)56,119 loans | 6.50%6.50% | −0.04+0.02 | $6,533$5,476 | 63.4%53.2% | 20.2% |
| Jumbo 30-yr fixed (20%+ down)2,723 loans | 6.63%6.63% | +0.02+0.00 | $13,606$10,251 | 48.9%38.4% | 20% |
| FHA 30-yr fixed83,197 loans | 5.99%6.25% | +0.17+0.42 | $11,020$11,291 | 63.9%59.3% | 3.5% |
| VA 30-yr fixed38,858 loans | 5.99%6.13% | −0.54−0.36 | $6,667$6,554 | 65.8%59.3% | 0% |
| Conventional rate-and-term refinance9,987 loans | 6.50%6.38% | +0.03−0.06 | $6,131$4,390 | 53.7%45.4% | 30.8% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), medians. "Over benchmark" = rate spread, the APR minus APOR on the lock date, which removes the effect of when each loan locked. Closing costs = total loan costs on the Closing Disclosure. HMDA has no credit scores, so these are what borrowers paid, not what you will be offered. See the lenders active in Texas and what their borrowers paid.
Texas's biggest conventional lenders: what their borrowers paid
The 8 largest conventional lenders in Texas by 2025 purchase loans, out of 1,226 that made one. Each row is the median for that lender's comparable loans here: 30-year fixed, conforming, 20% or more down. A lower figure over the benchmark means cheaper pricing for the same week.
| Lender | 2025 loansshare in TX | Median rate | Over benchmark | Originationmedian | Paid pointsshare · median | Median down |
|---|---|---|---|---|---|---|
| United Wholesale Mortgage | 15,7487.7% | 6.50% | −0.03 | $3,310 | 58%$2,217 | 20% |
| Rocket Mortgage | 8,3944.1% | 6.50% | −0.02 | $3,402 | 69%$2,975 | 21% |
| Chase | 6,1343% | 6.38% | −0.16 | $1,773 | 70%$2,512 | 20% |
| Lennar Mortgage | 4,9612.4% | 4.63% | −1.93 | $1,650 | 88%$4,672 | 20% |
| CMG Home Loans | 4,3062.1% | 6.50% | −0.01 | $3,141 | 68%$3,047 | 20% |
| CrossCountry Mortgage | 3,5711.8% | 6.83% | +0.25 | $4,612 | 79%$4,492 | 22.1% |
| DHI Mortgage | 3,5211.7% | 4.99% | −1.58 | $0 | 84%$5,221 | 20% |
| Fairway Independent Mortgage | 3,4731.7% | 6.63% | +0.15 | $2,845 | 66%$2,818 | 21.3% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), lenders with at least 30 comparable loans in Texas. Minimum credit scores are not shown here: conventional loans usually start at 620 (a lender floor; Fannie Mae's automated underwriting sets none), FHA 580 (500 with 10% down), VA none set by VA (lenders often 620). HMDA has no credit scores, so a lender's medians reflect its own mix of borrowers. FHA and VA lenders: Texas lender rankings.
How rates have moved
Weekly national averages over the past 30 days to 5 years. The 30- and 15-year lines are Freddie Mac average rates; the ARM lines are the APOR APR benchmark, because no free weekly ARM rate series exists.
- Now
- 7.18%
- Nov 5, 2026
- 1 week ago
- 7.24%
- −0.06 pts
- 1 month ago
- 7.40%
- −0.22 pts
- 1 year ago
- 6.22%
- +0.96 pts
30-year fixed: Freddie Mac PMMS (rate), weekly. National series.
What a mortgage costs in Texas
On a home at Texas's median list price of $350,000 with 20% down, the financed amount is $280,000, or about $1,897 a month in principal and interest at the 7.18% 30-year average.
What makes Texas different is the cost around the loan. Its 1.52% effective property-tax rate adds roughly $443 a month, and homeowners insurance — at the state's median 0.66% of home value — about $192 more, bringing the all-in estimate to $2,532. That figure is principal and interest at the 30-year average, property tax and insurance; at 20% down a conventional loan has no PMI, and HOA dues or local special assessments are not included. Your own price and down payment will move the number — work backward from your income with the affordability check.
Payment at the $350,000 median list price by down payment and loan type
| Loan | Rate | Monthlyall-in | Mortgage ins. | Cash to close | Income needed28% rule · yearly |
|---|---|---|---|---|---|
| Conventional, 20% downNo PMI | 7.18%Freddie Mac 30-yr avg | $2,532P&I $1,897 | — | $73,713 | $109,000 |
| Conventional, 10% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $2,953P&I $2,134 | $184 | $38,713 | $127,000 |
| Conventional, 5% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $3,082P&I $2,252 | $194 | $21,213 | $132,000 |
| Conventional, 3% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $3,133P&I $2,300 | $198 | $14,213 | $134,000 |
| FHA, 3.5% down1.75% upfront MIP financed + annual MIP | 6.89%OBMMI FHA avg | $3,051P&I $2,261 | $155 | $15,963 | $131,000 |
| VA, 0% down2.15% funding fee financed; no monthly MI | 6.71%OBMMI VA avg | $2,945P&I $2,309 | — | $3,713 | $126,000 |
Monthly = principal and interest + property tax (1.52% effective) + homeowners insurance (about $192/mo — Texas's median premium, 0.66% of home value) + mortgage insurance. HOA dues and local special assessments are not included. Cash to close = down payment + Texas's average closing costs ($3,713). PMI is an illustrative 0.7% a year; FHA and VA figures use HUD's MIP schedule and VA's first-use funding fee. Income needed = the gross yearly income at which the monthly figure is 28% of pay, the classic housing-cost guideline. Lenders also limit your total monthly debts as a share of income, so car, student-loan and card payments raise the income you need.
Prices, loan limits and payments in Texas's biggest counties
Home prices, and so the loan you need, vary more inside Texas than rates do. The table covers the largest county markets. Pick a row to load it into the calculator above.
| County | Median list priceSep 2026 · yr/yr | Avg purchase loanHMDA 2025 | Conforming limitmax price at 20% down | At 20% down | Est. paymentP&I + tax + ins. | Calculator |
|---|---|---|---|---|---|---|
| Harris County18,901 homes for sale · Sep 2026 | $329,450-1.7% | $388,60343,310 loans | $832,750$1,040,937 | Conforming$263,560 loan | $2,384at 7.18% | |
| Bexar County9,035 homes for sale · Sep 2026 | $289,950-3% | $319,00724,840 loans | $832,750$1,040,937 | Conforming$231,960 loan | $2,098at 7.18% | |
| Dallas County7,494 homes for sale · Sep 2026 | $383,575+0.2% | $494,45018,906 loans | $832,750$1,040,937 | Conforming$306,860 loan | $2,775at 7.18% | |
| Travis County6,066 homes for sale · Sep 2026 | $499,000-9.3% | $565,86413,478 loans | $832,750$1,040,937 | Conforming$399,200 loan | $3,610at 7.18% | |
| Tarrant County5,976 homes for sale · Sep 2026 | $364,995-1.2% | $380,74422,124 loans | $832,750$1,040,937 | Conforming$291,996 loan | $2,641at 7.18% | |
| Montgomery County5,118 homes for sale · Sep 2026 | $382,500-0.7% | $349,46315,211 loans | $832,750$1,040,937 | Conforming$306,000 loan | $2,768at 7.18% | |
| Collin County4,951 homes for sale · Sep 2026 | $517,500-1% | $458,23519,913 loans | $832,750$1,040,937 | Conforming$414,000 loan | $3,744at 7.18% | |
| Fort Bend County4,471 homes for sale · Sep 2026 | $429,500-1.7% | $389,41612,456 loans | $832,750$1,040,937 | Conforming$343,600 loan | $3,108at 7.18% | |
| Denton County4,421 homes for sale · Sep 2026 | $472,495-0.4% | $461,47716,533 loans | $832,750$1,040,937 | Conforming$377,996 loan | $3,419at 7.18% | |
| Williamson County3,416 homes for sale · Sep 2026 | $414,950-7.7% | $410,66311,542 loans | $832,750$1,040,937 | Conforming$331,960 loan | $3,002at 7.18% | |
| Hidalgo County3,406 homes for sale · Sep 2026 | $258,750-4.1% | $261,7945,543 loans | $832,750$1,040,937 | Conforming$207,000 loan | $1,872at 7.18% | |
| Galveston County3,265 homes for sale · Sep 2026 | $399,000-1.6% | $344,3085,350 loans | $832,750$1,040,937 | Conforming$319,200 loan | $2,887at 7.18% |
Sources: Realtor.com county research data (median listing price, Sep 2026); FHFA 2026 one-unit conforming limits; 2025 HMDA home-purchase originations (average loan, all loan types). Payments use the 30-year average (7.18%, or the jumbo average 7.25% above the limit), Texas's 1.52% effective property tax and its median insurance premium (0.66% of value), both from Census ACS 2024 data; county tax rates differ. Max price at 20% down = the county limit ÷ 0.8, the highest price at which a 20%-down loan stays conforming. Homes for sale = active Realtor.com listings in the month, excluding pending sales.
What's different about buying a home in Texas
Rates are national, but the rules around the loan are not. These Texas specifics can change your payment, your closing or your protections as a borrower.
Texas caps home equity loans at 80% LTV
A Texas home equity loan, which includes most cash-out refinances, generally cannot push all liens on the homestead above 80 percent of its fair market value. It also cannot close before the 12th day after you apply and receive the required notice, so plan for a firm 20 percent equity cushion and a longer timeline.
Source: tlc.texas.govTexas homestead exemption: $140,000 off school taxes
Texas requires school districts to exempt $140,000 of a residence homestead's value from school taxes, an amount voters raised in November 2025. The exemption is not automatic: owners generally apply through the county appraisal district before May 1. A $300,000 home is then taxed for school purposes as if worth $160,000.
Source: comptroller.texas.govCoastal buyers may need separate windstorm coverage
Along the Texas coast, a homeowners policy might not cover wind and hail damage, so buyers may need a separate windstorm policy, often from the Texas Windstorm Insurance Association (TWIA). The law does not require it, but a coastal lender will likely insist, and TWIA policies cannot be bought during a Gulf hurricane.
Source: tdi.texas.govTexas title premiums are identical at every company
Title insurance rates in Texas are regulated, so every title company charges the same premium for a given policy, and the buyer and seller may negotiate who pays it. The premium already covers the title search and examination, so shopping around mainly saves money on escrow and other closing fees.
Source: tdi.texas.govChecked against official sources on October 18, 2026. Laws and programs change; confirm details with the agency named or a local real estate attorney.
How Texas buyers finance their homes
FHA loans are where Texas stands out: they made up 20.2% of home loans originated here in 2025, against 13.2% nationally — the highest FHA share of any state. Lenders, agents and appraisers here handle FHA deals routinely, which helps if that is the loan you need.
| Loan type | Share in TX | U.S. share | Approval in TX | Avg loan in TX |
|---|---|---|---|---|
| Conventional | 68.2% | 78.0% | 69.6% | $365,373 |
| FHA | 20.2% | 13.2% | 83.7% | $302,175 |
| VA | 11.0% | 8.2% | 87.2% | $385,338 |
| USDA | 0.6% | 0.6% | 88.2% | $156,078 |
The average Texas home loan in 2025 was $353,588, close to the U.S. average of $352,861, the 19th-largest of 51 jurisdictions. Home purchases accounted for 74.1% of those loans (U.S. 64.2%); cash-out refinances for 12.2% (U.S. 17.1%), a sign that fewer owners here borrowed against their equity.
Source: 2025 HMDA originations, FFIEC/CFPB. Approval = originated ÷ (originated + denied).
Texas loan limits for 2026
All 254 of Texas's counties use the 2026 baseline conforming limit of $832,750 for a one-unit home. Any loan above that is a jumbo loan here, which usually means a larger down payment and cash reserves. See the full national grid in our loan limits by property type.
County limits: FHFA 2026 conforming loan limit list (one-unit properties; two- to four-unit limits are higher).
Cash you'll need to close in Texas
Average closing costs in Texas are about $3,713 including transfer taxes (No. 23 of 51, highest first). On a home at the median list price of $350,000:
| 20% down | 3% down | |
|---|---|---|
| Down payment | $70,000 | $10,500 |
| Average closing costs | $3,713 | $3,713 |
| Cash to close (estimate) | $73,713 | $14,213 |
Prepaid taxes and insurance are extra. Closing-cost averages by state (source: Bankrate).
Transfer taxes and recording rules in Texas
Texas voters added Article VIII, Section 29 to the state constitution in 2015, barring any new tax on transfers of real property; Texas has no real estate transfer tax, which keeps closing costs down even as property taxes run high. Source: tlc.texas.gov
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 (29,645 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's My First Texas Home and My Choice Texas Home (2%–5% of the loan), TSAHC's grants of up to 5%, and local help of up to $75,000 in Houston, $40,000 in Harris County and Austin, and $25,000 in Fort Worth. See all first-time home buyer programs in Texas — requirements, income limits by county and how far each covers a typical home.
Texas MCC: 15% of your mortgage interest back as a tax credit
Both state issuers set a 15% credit. TDHCA's comes stand-alone or combined with My First Texas Home (the combo's issuance fee is waived for military buyers); TSAHC's stand-alone MCC is discontinued, so it comes only with TSAHC's down payment assistance. Estimate your MCC credit.
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.
How these numbers are measured
- Freddie Mac PMMS (30- and 15-year): a weekly average of rates offered to borrowers with 20% down and strong credit, published Thursdays; latest week Nov 5, 2026. Points are not reported.
- Optimal Blue OBMMI (FHA, VA, USDA, jumbo): daily averages of rates actually locked, across credit profiles. Points vary by loan.
- APOR (APR benchmark): FFIEC/CFPB's weekly Average Prime Offer Rate, an APR that includes typical points and fees for a prime borrower. Regulators use it to flag higher-priced loans.
- HMDA 2025 (Texas vs U.S.): rates, costs, points and down payments on loans that actually closed, reported by lenders to federal regulators. Updated once a year.
- Census ACS 2024 (property tax and insurance): what homeowners with a mortgage in Texas reported paying — the median real-estate tax divided by the median home value, and the median insurance premium as a share of value. Updated once a year.
- Interest rate vs APR: the rate sets your payment; the APR adds points and lender fees spread over the loan. Compare APRs on Loan Estimates for the same day and loan type.
Rates and APOR refresh every week; HMDA, loan limits and closing-cost averages refresh when their publishers release new data. Reviewed by our data editors. Full sources and formulas: how these figures are built.
Texas mortgage FAQ
What is a good mortgage rate in Texas right now?
A 30-year fixed close to the national average of 7.18% (Freddie Mac, week of Nov 5, 2026) is a fair benchmark for a borrower with strong credit and 20% down. In 2025, Texas's conventional buyers paid a median 6.50%.
Quotes well above that usually reflect lower credit, a small down payment or lender credits taken in exchange for a higher rate.
Are mortgage rates higher in Texas than in other states?
No, if anything slightly lower, once timing and fees are counted. In 2025 HMDA records, Texas's median conventional 30-year rate was 6.50%, against 6.50% nationally.
Against the benchmark for each loan's lock week, which counts points and fees, Texas loans priced 0.04 percentage points below it (the 11th-lowest of all 50 states and the District of Columbia), against 0.02 above nationally.
Rates are set mainly in one national market, so your credit, down payment and loan size matter more.
What are current jumbo mortgage rates in Texas?
The national jumbo 30-year average is 7.25% (Optimal Blue). In 2025, Texas's jumbo buyers paid a median 6.63%. A loan is jumbo above the $832,750 conforming limit, which applies in every Texas county.
Jumbo lenders typically want 10–20% down, a 700+ credit score and 6–12 months of reserves.
Should I choose a 15-year or 30-year mortgage?
On a $280,000 loan (20% down on Texas's median list price), a 30-year at 7.18% costs $1,897 a month and a 15-year at 6.57% costs $2,450.
The 15-year saves about $241,874 in interest but needs $553 more a month, so it fits only if that payment is comfortable.
How much does a 1% difference in mortgage rates change my monthly payment?
On a $280,000 loan (20% down on Texas's median list price), moving from 7.18% to 8.18% raises the principal-and-interest payment from $1,897 to $2,090, or $193 a month.
Over 30 years that is about $69,468 more in interest, which is why comparing several lenders on the same day matters.
Are mortgage rates different for purchase and refinance loans?
Yes, slightly. In 2025, Texas's conventional rate-and-term refinances closed at a median 6.50% and purchases at 6.50%, partly because refinances bunch up when rates dip. Refinances priced 0.03 percentage points above the market benchmark; cash-out refinances usually cost more. Your own pricing depends on credit, loan-to-value and points.
How much is a $400,000 mortgage at 7.18% interest?
About $2,710 a month in principal and interest over 30 years. In Texas, a $500,000 home with that loan adds roughly $633 a month in property tax at the 1.52% effective rate, plus homeowners insurance. Over 30 years the loan costs about $575,506 in interest.
How much income do I need to buy a home in Texas?
About $109,000 a year for a home at the $350,000 median list price with 20% down, if the full $2,532 monthly payment, including tax and insurance, stays within 28% of gross income.
Smaller down payments add mortgage insurance and raise that figure; existing debts lower what lenders approve.
- Freddie Mac — Primary Mortgage Market Survey
- FFIEC / CFPB — Average Prime Offer Rates (APOR)
- FFIEC / CFPB — HMDA data browser (2025 loan-level records)
- Optimal Blue OBMMI via FRED (FHA, VA, USDA, jumbo)
- FHFA — 2026 conforming loan limits by county
- U.S. Census Bureau — 2024 American Community Survey microdata (property tax and homeowners insurance)
- HUD — Handbook 4000.1 (FHA mortgage insurance)
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.