Texas Mortgage Rates Today
30 YEAR Fixed Mortgage Rates
20 YEAR Fixed Mortgage Rates
Lone Star Financing - Today's Mortgage Rates in Texas
Low mortgage rates in Texas - Direct lender with in-house underwriting to close loans fast!
- Texas conventional mortgages are considered the industry standard, and they impose qualification requirements. Generally, you’ll need a minimum credit score of 620 and a DTI ratio less than 45 percent. If you make a down payment of less than 20 percent, you’ll need to pay PMI, as well.
- Texas FHA loans: If your credit history disqualifies you from a conventional mortgage, you might be able to secure a loan insured by the Federal Housing Administration (FHA). A credit score of at least 580 can help you secure a Texas FHA loan with a down payment of just 3.5 percent. You can still get an FHA loan with a credit score of 500, but that requires a 10 percent down payment. With an FHA loan, you’ll typically need a DTI between 31 percent to 41 percent. FHA loans generally have lower mortgage rates than conventional loans.
- Texas VA loans: If you’re a veteran or active duty member of the military, you may qualify for a mortgage backed by the Department of Veterans Affairs (VA). A Texas VA home loan doesn’t require a down payment or private mortgage insurance (PMI), but you do need to pay a funding fee. VA home loans also come with better mortgage rates and terms.
- Texas Commercial Rates – Visit our commercial lending page for rates on our commercial loans in Texas.
More about conventional fixed rates
A 30-year fixed mortgage is a home loan with an interest rate that stays the same over a 30-year period. For example, on a 30-year mortgage for a home values at $300,000 with a 20% down payment and an interest rate of 3.75%, the monthly payment would be about $1,111 (not including taxes and insurance). Because the mortgage is fixed, the interest rate of 3.75% (and the monthly payment) will stay the same for the life of the loan.
A 20-year fixed-rate mortgage is a home loan with a 20-year repayment term and a consistent interest rate throughout the loan’s duration. Check the current 20-year mortgage rates in Texas above.
A 15-year fixed-rate mortgage offers a 15-year repayment term with a steady interest rate for the life of the loan. Call today to speak with a loan officer for current mortgage rates in Texas for 10- and 15-year terms.