Texas Mortgage Rates

Check Current Mortgage Rates

TEXAS CONFORMING 30 YEAR FIXED RATES

Today's Average: 4.06% What does this mean?

About Mortgage Rates in Texas

Texas home buyers can find a wealth of mortgages deals. whether they are looking in Dallas, Houston, Austin or El Paso. Mortgage deals to meet your needs will not be hard to find. No wonder they call it the Loan-Star State.

Recent market expansions have afforded first-time, refinancing and second mortgage purchasers the opportunity to review several appealing mortgage packages. With over 9.4 million housing units, more than 63% are owner occupied. Potential buyers will need to choose which loan features are important to them: lowest interest rate, lowest payment, lowest interest expenses, or lowest closing costs. Mortgage 101 can help you select and seal an awesome mortgage deal today.

The 5/5 & 5/1 Adjustable Rate Mortgage

This mortgage type offers a stable payment and interest rate for the first five years. In the sixth year the interest rates, and therefore the payments, are adjusted every five years for the 5/5 arm and every year for the 5/1 arm.
Fixed Rate Mortgage

Mortgage Refinancing in Texas

In some instances, refinancing your current mortgage loan can help you lower your mortgage payment. Borrowers can borrow against the equity built up in their home at a lower cost than they can from other sources. Like most mortgage interest, another benefit to mortgage refinancing is that if you pay off credit cards, the interest you pay will now be tax deductible.

Fixed Rate Mortgages

This is your parent's mortgage loan. The mortgage interest rate will remain the same on these mortgages throughout the term of the mortgage for the original borrower.

Other Mortgage Terms

Origination Fee - The fee charged by a lender to prepare loan documents make credit checks inspect and sometimes appraise a property; usually computed as a percentage of the face value of the loan.

Mortgage Insurance - Money paid to insure the mortgage when the down payment is less than 20 percent.

Closing Costs - Expenses over and above the price of the property that are incurred by buyers and sellers when transferring ownership of a property. Closing costs normally include an origination fee property taxes charges for title insurance and escrow costs appraisal fees etc. Closing costs will vary according to the area country and the lenders used.