Tue. Dec 1st, 2020

The state’s average housing price is $ 172,200, which falls below the national average of $ 217,600. Nevertheless, Texas is the second largest state by land area, and home values ​​may vary by region.

What are the mortgage rates in Texas?

Average interest rate for a 30 year fixed rate Customizing Mortgage in Texas 3.04%.

House interest rates Range from 2.5% Service 4% in Texas.

What are today’s mortgage rates?

By locking in a low mortgage rate today, you can save thousands over the life of your loan. Compare your mortgage rate offers with national average trends.

Loan type

Rate of this week

Last week rate

30-Year Fixed Rate Mortgage 3.01% 3.03%
15-Year Fixed Rate Mortgage 2.58% 2.56%
30-Year Fixed-Rate Jumbo Mortgage 3.03% 3.09%
5/1 ARM 3.04% 3.06%
5/1 Jumbo ARM 2.86% 2.87%

* Rates up to October 28, 2020

US News’ Best Texas Mortgage Lender

Flagstar Bank
Not disclosed Min. advanced payment
600 Min. credit score
Guild mortgage
3% Min. advanced payment
600 Min. credit score
The chase
3% Min. advanced payment
620 Min. credit score
PNC Bank
3% Min. advanced payment
Not disclosed Min. credit score
The lender
American news rating
Not disclosed Min. advanced payment
600 Min. credit score
The lender
American news rating
3% Min. advanced payment
600 Min. credit score
The lender
American news rating
3% Min. advanced payment
620 Min. credit score
The lender
American news rating
3% Min. advanced payment
Not disclosed Min. credit score

Best for Fair Credit

Flagstar provides banking and lending products in every state. Lenders can choose from traditional or government-backed mortgages, such as FHA, VA and the US Department of Agriculture loans, and opt for adjustable-rate mortgages. Other options include home equity loans and lines of credit.

Before you apply

  • Mortgage Type: ARM, Traditional, FHA, Jumbo, Refinance and USDA
  • Minimum FICO Credit Score: 600
  • Maximum loan amount: $ 3 million
  • Better Business Bureau Rating: A +

Best counter

  • Offers a wide selection of mortgage and home equity loans

  • Offers certain mortgages that do not require a down payment

  • Allows borrowers to apply for online loans

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Best for va loan

Giants United Home Loans provides mortgages to veterans and military families in all 50 states and Washington, DC, and specializes in VA loans. In 2019, Veterans United Home Loan generated the largest VA loan in the nation.

Before you apply

  • Mortgage Type: ARM, Traditional, FHA, Refinance, USDA and VA
  • Minimum FICO Credit Score: 660
  • Maximum loan amount: $ 1.5 million
  • Better Business Bureau Rating: A +

Best counter

  • No military service required

  • No minimum loan amount determined

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Best for bad credit

Carrington Mortgage Services produces a range of mortgages, including refinances, available to borrowers nationwide. The company, which provides traditional and government-backed mortgages, has funded $ 22 billion in home loans since 2011.

Before you apply

  • Mortgage Type: ARM, Conventional, FHA, Home Equity Loans and Halo, Jumbo, Refinance, USDA and VA
  • Minimum FICO Credit Score: 500
  • Maximum loan amount: $ 2.5 million
  • Better Business Bureau Rating: A +

Best counter

  • Accepts applicants with a credit score of at least 500

  • Offers traditional loans with less than 3% payment

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Best for product selection

Guild Mortgage, established in 1960, specializes in home loans and serves lenders around the country. The complete lender of products includes traditional and government-backed mortgages and home equity loans.

Before you apply

  • Mortgage Type: ARM, Traditional, FHA, Jumbo, Manufactured Homes, Refinance, Reverse, USDA & VA
  • Minimum FICO Credit Score: 600
  • Maximum loan amount: Different
  • Better Business Bureau Rating: A +

Best counter

  • Receives strong customer service rating from Better Business Bureau

  • Offers a wide range of mortgage products

  • Offers exclusive mortgage programs for first time buyers and manufactured homebuyers

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Best for low APR

New American Funding is a national mortgage lender with a wide variety of home loan options. The lender has processed more than $ 27 billion in mortgages.

Before you apply

  • Mortgage Type: ARM, Cash-Out Refinancing, Traditional, FHA, Halos, Jumbo, Reverse, USDA and VA
  • Minimum FICO Credit Score: 500
  • Maximum loan amount: $ 3 million
  • Better Business Bureau Rating: A +

Best counter

  • Offers several mortgage options, including low and low-paying loans

  • Offers fixed or adjustable rate mortgages

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Best for online service

Caliber Home Loans of Coppell, Texas offers nationwide mortgages including traditional, refinance, jumbo and adjustable rate loans. The government-backed options are FHA, USDA and VA. Caliber has been in business since 2008 and focuses solely on home loans.

Before you apply

  • Mortgage Type: Traditional, FHA, Jumbo, Refinance, USDA and VA
  • Minimum FICO Credit Score: 580
  • Maximum loan amount: $ 3 million
  • Better Business Bureau Rating: a

Best counter

  • Homebuyer offers programs for the first time

  • FICO accepts mortgage applicants with credit scores as low as 580

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Best without any down payment

Elient Credit Union is a non-profit financial cooperative that serves customers in all states except Maryland. Borrowers can take out traditional, jumbo, refinance and home equity loans.

Before you apply

  • Mortgage Type: Traditional, first time homebuyers, hallows and refinancing
  • Minimum FICO Credit Score: 620
  • Maximum loan amount: $ 2.5 million
  • Better Business Bureau Rating: A +

Best counter

  • Issues no down-payment mortgages for first time homebuyers with excellent credit

  • FICO offers mortgages to borrowers with credit scores as low as 620

  • Allows for a loan-to-income ratio of up to 50% for some loan programs

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Best for low cost

Chase, one of the largest banks in the country, offers mortgage and refinance loans to qualified borrowers. Home equity loans and HELOC are also available.

Before you apply

  • Mortgage Type Offered: ARM, Traditional, FHA, Jumbo, Refinance and VA
  • Minimum FICO Credit Score: 620
  • Maximum loan amount: $ 3 million
  • Better Business Bureau Rating: A +

Best counter

  • Accepts up to 3% down payment

  • Receives high marks from Better Business Bureau

View full profile

Best for low down payment

PNC Bank is one of the largest US banks, serving more than 8 million customers in all 50 states. PNC offers most types of mortgages.

Before you apply

  • Mortgage Type: ARM, Traditional, FHA, First Time Homebuyer Program, Home Equity, Halo, Jumbo, Refinance, USDA and VA
  • Minimum FICO Credit Score: Unpublished
  • Maximum loan amount: $ 5 million
  • Better Business Bureau Rating: A +

Best counter

  • Offers many types of mortgages

  • Provides no or low-down mortgage

  • An online home ownership cost appliance supply

View full profile

mortgage calculator

Are you reaching your dream home? US News’ mortgage calculator will show you how much home you can buy.

What are some Texas homebuyer programs?

Homebuyers in Texas can help get mortgage interest tax credits from these programs along with downgrade payments and closing costs.

  • available to: Teachers, police officers, firefighters, emergency medical service workers, correctional officers, elders and others.
  • Income Range: Different from county.
  • Homebuyers for the first time ?: No.
  • Loan Options: 30-Year Fixed Rate Mortgage.
  • Payment and closing cost assistance: Grant up to 6% of loan amount.

  • available to: Homebuyers of low and middle income Texas.
  • Income Range: Different from county.
  • Homebuyers for the first time ?: No.
  • Loan Options: 30-Year Fixed Rate Mortgage.
  • Payment and closing cost assistance: Grant up to 6% of loan amount.

  • available to: First time homebuyers who qualify for either Texas Heroes or Home Sweet Texas home loan programs.
  • Income Range: Different from county.
  • Homebuyers for the first time ?: Yes.
  • profit: The mortgage interest tax credit reduces your federal income taxes each year.

  • available to: First-time homebuyers, giants and homebuyers who have not owned a home in the last three years.
  • Income Range: Different from county.
  • First time homebuyers ?: Yes, or buyers who have not owned a home in the last three years.
  • Loan Options: 30-Year Fixed Rate Mortgage.
  • Payment and closing cost assistance: Up to 5% of the loan amount.

  • available to: Texas Homebuyer.
  • Income Range: Different from county.
  • First time homebuyers ?: No.
  • Loan Options: 30-Year Fixed Rate Mortgage.
  • Payment and closing cost assistance: Up to 5% of the loan amount.

Advertisement Disclosure: Some of the loan offers on this site are from companies that are advertising customers of US News. Advertising considerations can influence where offers appear on the site, but do not affect any editorial decisions, such as which loan products we write about and how to evaluate them. This site does not include all loan companies or all loan offers available in the market.

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